iCrowdNewswire Mar 4, 2021 2:30 AM ET
Data monetization comprises the monetization of the asset of data to generate high revenue from available data sources/ real-time streamed data by introducing the discovery, storage, capture, analysis, dissemination & use of that data. Data monetization leverages data generated via business operations and data associated with individual factors & with electronic devices and sensors contributing in the Internet of Things (IoT).
Growing technological advancements in big data and analytics solution and the rise in focus of organizations to generate new revenue streams expected to propel the growth of global data monetization market during this forecast period. Also, the global market is driven by continuous rise in enterprises data. The rise in awareness about the potential benefits of data monetization solutions & its adoption among telecom service providers will positively influence the market growth.
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Furthermore, the increase in usage of data processing & AI (Artificial Intelligence) as well as adoption of data-driven decision-making approaches is expected to boost the global data monetization market growth. Some companies are inclined toward data monetization since it offers data usage optimization, reduced operating costs, customer loyalty, improved compliance, boost profitability, strengthen partnerships & enhance customer experience and understanding. Also, data monetization adds maximum value to products & services, streamlines planning & decision-making activities, improves collaboration & data sharing amongst external & internal stakeholders, and increases targeted product or service marketing and propositions. Such factors are expected to accelerate the growth of global data monetization market.
Varying structure of regulatory policies and privacy & security concerns are expected to hinder the global data monetization market growth. Further, Lack of 0rganizational capabilities and cultural barriers may obstruct the global data monetization market growth.
The Global Data Monetization Market is segmented into organization size such as Large Enterprises, and Small & Medium Size Enterprises, by method such as Data as a Service, Insight as a Service, Analytics-enabled Platform as a Service, and Embedded Analytics. Further, market is segmented into vertical such as E-commerce & Retail, BFSI, Telecommunications & IT, Manufacturing, Healthcare, Energy & Utilities, and Others.
Also, the Global Data Monetization Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The North America is expected to hold largest revenue share in the year 2019 which is attributable to the presence of major players in the region. Further, the region’s growth is highly influenced by the Companies based in the U.S. and Canada which are engaged in investing & rapidly adopting advanced technologies like cloud computing, big data, and analytics. Moreover, the increase in demand among organizations to automate decision-making processes, optimized infrastructure costs & technology enhancements have significantly affected regional growth. The APAC is expected to grow at fastest rate due to the growing adoption of cloud, IoT, and big data solutions in the region.
Market Key players
Various companies are listed in this report such as SAP SE, Reltio, Monetize, Comviva, Infosys Limited, IBM Corporation, Gemalto NV, Cisco Systems, Inc., Adstra, Accenture Plc., etc.
By Organization Size
- Large Enterprises
- Small & Medium Size Enterprises
- Data as a Service
- Insight as a Service
- Analytics-enabled Platform as a Service
- Embedded Analytics
- E-commerce & Retail
- Telecommunications & IT
- Energy & Utilities
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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