Data Monetization Market

Data Monetization Market by Enterprise Sizes (Small & Medium Enterprises and Large Enterprises), Methods (Embedded Analytics, Data as a Service, Analytics-enabled Platform as a Service, and Insight as a Service), Verticals (Energy & Utilities, BFSI, Healthcare, E-commerce & Retail, Manufacturing, Telecommunications & IT, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-2200
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 3
  • No. Of Pages: 175
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The global data monetization market size is estimated to expand at a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing usage of data processing and Artificial Intelligence (AI) along with the growing enterprise data volume across industries.

Data monetization is the process of converting a large volume of unstructured organizational data into profit generating bits of knowledge for administrative purposes. Furthermore, it involves the practices, such as finding, capture, storage, analysis, dissemination, and use of data assets in order to earn high revenue from available data sources. In addition, data monetization takes advantage of data generated by company activities along with the data linked to individual variables and electronic devices & sensors. This information is utilized to help the company establish new revenue streams by providing valuable insights.

Data Monetization Market Key Takeaways

Moreover, indirect data monetization and direct data monetization are the two types of data monetization process. Companies generate revenue through direct data monetization process by selling raw data directly. Furthermore, selling a company's analysis, bartering or trading data, and implementing one or more application programming interface (APIs) are all examples of direct data monetization. On the other hand, companies leverage their data to make a measurable impact in indirect monetization. Additionally, indirect monetization supports businesses in lowering costs, increasing productivity and efficiency, developing new products or services, and discovering new consumer types or company categories.

However, the global COVID-19 pandemic outbreak has had an impact on all end-user industries in various ways. Manufacturing units have suffered a setback, but the demand for healthcare has increased. These differences have an impact on the data generation and monetization across organizations. Furthermore, increasing use of online platforms has expanded as a result of which several firms are adopting online services and work from home habits, triggering a surge of numerous options for data monetization.

For example, as a part of the National COVID Cohort Collaborative (N3C) initiative, in June 2020, the National Institutes of Health (NIH) launched a consolidated and secured enclave to collect and analyze large amount of medical data from people detected with COVID-19. It further makes available to healthcare providers and researchers in order to develop treatments.

Market Trends, Drivers, Restraints, and Opportunities

  • Growing technological advancements in big data & analytics solutions is expected to propel the market growth during the forecast period.
  • Increasing significance of data monetization to generate new revenue streams is one of the key factors up surging the market expansion.
  • Rising need to generate insights from unused data by organizations is estimated to boost the market growth in the coming years.
  • Increasing privacy concerns and rising incidence of cybercrime are some of the key restraining factors hindering the market expansion.
  • Growing awareness level related to data monetization among organizations, such as cost reduction and better efficiency & productivity in businesses is anticipated to offer lucrative opportunity for market during the forecast period.

Scope of the Report

The report on the global data monetization market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Data Monetization Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Enterprise Sizes (Small & Medium Enterprises and Large Enterprises), Methods (Embedded analytics, Data as a Service, Analytics-enabled Platform as a Service, and Insight as a Service), and Verticals (Energy & Utilities, BFSI, Healthcare, E-commerce & Retail, Manufacturing, Telecommunications & IT, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

SAP SE; Accenture Plc.; Reltio; Adstra; Comviva; Gemalto NV; Cisco Systems, Inc.; Infosys Ltd.; and IBM Corp.

Market Segment Insights

Large enterprise segment is estimated to grow at a rapid pace

Based on enterprise sizes, the global data monetization market is bifurcated into small & medium enterprises (SMEs) and large enterprises. The large enterprise segment is estimated to grow at a rapid pace during the forecast period, owing to the increasing base of data monetization in various business verticals, such as banking financial services and insurance (BFSI), telecommunication, and retail.

Furthermore, these large organizations have sufficient commercial plans, technological knowledge, and financial resources. Additionally, modern technologies such as cloud computing and artificial intelligence (AI) are in high demand in the industry. As a result, large corporations can simply invest in such modern technology to ensure company continuity in the market. Thus, all these factors are propelling the segment growth.

However, small & medium enterprises (SMEs) segment is anticipated to register a substantial market share in the coming years due to the increasing adoption of data monetization by SMEs to sustain in the competitive market.

Analytic-enabled platform as a service segment is projected to expand at a considerable CAGR

On the basis of methods, the market is segmented into embedded analytics, data as a service, analytics-enabled platform as a service, and insight as a service. The analytic-enabled platform as a service segment is projected to expand at a considerable CAGR during the forecast period, owing to the method's capacity to provide clients with customizable data monetization options.

Moreover, this technique comes with pre-installed business intelligence and analytics tools. In addition, it is used to provide consumers with real-time information along with the high level of adaptability. Furthermore, it works with all cloud-based solutions, supports a wide range of data types, and can be installed both on-premises and in the cloud.

However, the embedded analytics segment is estimated to grow at a rapid pace in the coming years due to the existing integrated applications with added features such as dashboard reporting, data visualization, and analytics. Furthermore, this strategy reduces total cost of ownership while speeding up time to market and creating modified embedded analytics solutions.

Data Monetization Market By Methods

Banking financial services and insurance segment is projected to gain a large revenue share

Based on verticals, the global data monetization market is segregated as energy & utilities, Banking financial services and insurance (BFSI), healthcare, e-commerce & retail, manufacturing, telecommunications & IT, and others. The Banking financial services and insurance segment is projected to gain a large revenue share during the forecast period, owing to the increasing presence of most data-rich businesses in the banking sector.

According to the industry professionals working in banking and financial security, BFSI organizations manage approximately 3.8 petabytes of data. In the BFSI sector, this has resulted in a huge demand for data monetization. Furthermore, data monetization in the financial services industry increases client engagements and operating profitability by more than 50%.

However, the healthcare segment is estimated to gain a substantial market share in the coming years due to the increasing interest in data monetization. Furthermore, healthcare organizations are implementing new initiatives aimed at monetizing patient medical data by granting access to entrepreneurs and researchers. Additionally, the rapid adoption of data monetization by pharmaceutical companies is propelling the segment growth.

Data Monetization Market By Verticals

North America is anticipated to constitute a key market share

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share during the forecast period, owing to the rapid adoption of advanced technology such as big data, analytics, and cloud computing along with the increasing investments by various companies based in the US and Canada in such technology. Furthermore, rising need for automated decision-making processes in businesses, reducing infrastructural costs, and technological advancements are fueling the market in the region.

However, the market of Asia Pacific is projected to gain a significant market share in the coming years due to the increasing adoption of cloud, Internet of Things (IoT), and big data solutions across industries. Furthermore, growing advancements in networking technology, increasing penetration of e-commerce, rising manufacturing sector, and ongoing regulatory mandates are some of the key factors boosting the market in the region.

Data Monetization Market By Regions

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Data Monetization Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Data Monetization Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Data Monetization Market - Supply Chain
  4.5. Global Data Monetization Market Forecast
     4.5.1. Data Monetization Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Data Monetization Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Data Monetization Market Absolute $ Opportunity
5. Global Data Monetization Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Data Monetization Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Data Monetization Demand Share Forecast, 2019-2026
6. North America Data Monetization Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Data Monetization Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Data Monetization Demand Share Forecast, 2019-2026
7. Latin America Data Monetization Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Data Monetization Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Data Monetization Demand Share Forecast, 2019-2026
8. Europe Data Monetization Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Data Monetization Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Data Monetization Demand Share Forecast, 2019-2026
9. Asia Pacific Data Monetization Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Data Monetization Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Data Monetization Demand Share Forecast, 2019-2026
10. Middle East & Africa Data Monetization Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Data Monetization Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Data Monetization Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Data Monetization Market: Market Share Analysis
  11.2. Data Monetization Distributors and Customers
  11.3. Data Monetization Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. SAP SE Accenture Plc. Reltio Adstra Comviva Gemalto NV
Segments Covered in the Report
The global data monetization market has been segmented on the basis of

Enterprise Sizes
  • Small & Medium Enterprises
  • Large Enterprises
Methods
  • Embedded analytics
  • Data as a Service
  • Analytics-enabled Platform as a Service
  • Insight as a Service
Verticals
  • Energy & Utilities
  • BFSI
  • Healthcare
  • E-commerce & Retail
  • Manufacturing
  • Telecommunications & IT
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • SAP SE
  • Accenture Plc.
  • Reltio
  • Adstra
  • Comviva
  • Gemalto NV
  • Cisco Systems, Inc.
  • Infosys Ltd.
  • IBM Corp.

Some of the key players competing in the global data monetization market are SAP SE; Accenture Plc.; Reltio; Adstra; Comviva; Gemalto NV; Cisco Systems, Inc.; Infosys Ltd.; and IBM Corp.

These key players are implementing various marketing strategies, such partnership, collaborations, merger & acquisition, and new product development in order to achieve long term competitive edge.

For example, Cisco developed an IoT security architecture in January 2020 that delivers greater visibility and protects processes across both IT and IoT environments. Cisco's new solutions allow enterprises to collect and extract data from the IoT edge, allowing them to improve efficiencies, make better business decisions, and speed up digitization projects.

For instance, SAP SE and Verizon announced a partnership in October 2019. This partnership enables various applications to handle data ranging from an assembly line to a retail shop shelf. It further supports businesses to save time and enhance productivity.

Data Monetization Market By Key Players

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