Dublin, March 07, 2023 (GLOBE NEWSWIRE) -- The "Data Monetization Market Outlook by Method, Component, Deployment Mode, Enterprise Size, End-User Vertical - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
According to the market research report, in 2021, the data monetization market was worth around $2,092.5 million, which is predicted to hit $9,421.4 million by 2030, growing at an 18.2% compound annual growth rate from 2021 to 2030.
The vast volume of data created and the lowering price of data storage as a consequence of technical improvements are two significant factors credited to the market expansion. Furthermore, the market is growing due to the increasing use of visualization and advanced analytics technologies.
The analytics-enabled platform-as-a-service category has a market share of over 40%, and it is predicted to retain its dominance in the next few years, with a share of more than 50% by 2030. This is due to its adaptability, which allows for real-time data analyses with the support of business analytics and intelligence platform.
Moreover, the insight-as-a-service form of data monetization holds an over 15% share in the data monetization market. This is due to the expanding trend of big data analytics, personalized insights, and cloud computing; booming IoT sector, as well as the increasing market competition and rising need for customer management.
The telecommunications & IT industry is the second-largest end user of such methods, accounting for over 19% share in the market, and it is predicted to advance at a rate of around 20% throughout the forecast period. The growing volume of data being transmitted via telecom networks as a result of the rising count of smartphones can be credited for this.
Moreover, due to the rising number of accounts in banks and other financial institutions, which results in the daily collection of vast amounts of data, the BFSI sector is the largest user of data monetization solutions, accounting for a roughly 23% of the data monetization market share. Furthermore, the trend of monetizing payments data is fueled by the changing consumer expectations, migration to real-time payment infrastructure, and increasing margin pressure and competitiveness.
Owing to the increasing penetration of data monetization services, software, and platforms, as well as the existence of a significant number of data providers, the North American data monetization market generates around 35% of the global revenue. Within the region, the Canadian market is predicted to witness a CAGR of 13.9% over the forecast period.
During the projection period, APAC is expected to grow at a CAGR of 22.3%. The growing usage of digital services, such as mobile apps, IoT, cloud, AI, and over-the-top services, as well as the increasing expenditure on technological upgrades, is driving the market expansion. In the regional market, China is the major revenue generator, accounting for an about 40% share.
| Report Attribute | Details |
| No. of Pages | 147 |
| Forecast Period | 2021 - 2030 |
| Estimated Market Value (USD) in 2021 | $2092.5 Million |
| Forecasted Market Value (USD) by 2030 | $9421.4 Million |
| Compound Annual Growth Rate | 18.2% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Definition of Market Segments
4.1 By Method
4.1.1 AaaS
4.1.2 Embedded Analytics
4.1.3 IaaS
4.1.4 DaaS
4.2 By Component
4.2.1 Software
4.2.2 Services
4.3 By Deployment Mode
4.3.1 On-Premises
4.3.2 Cloud
4.4 By Enterprise Size
4.4.1 Large Enterprises
4.4.2 SMEs
4.5 By Vertical
4.5.1 BFSI
4.5.2 Telecommunications & IT
4.5.3 Manufacturing
4.5.4 E-Commerce & Retail
4.5.5 Healthcare
4.5.6 Energy & Utilities
Chapter 5. Industry Outlook
5.1 Market Dynamics
5.1.1 Trends
5.1.1.1 Technological advancement in the fields of IoT, big data, cloud, and AI
5.1.2 Drivers
5.1.2.1 Growth in the quantity and diversity of business data
5.1.2.2 Growing awareness of data monetization
5.1.2.3 Shift toward cloud-based data monetization
5.1.3 Impact Analysis of Drivers on Market Forecast
5.1.4 Restraints
5.1.4.1 Privacy and security concerns
Chapter 6. Global Market Size and Forecast
6.1 Overview
6.2 Market Revenue, by Method (2017-2030)
6.3 Market Revenue, by Component (2017-2030)
6.4 Market Revenue, by Deployment (2017-2030)
6.5 Market Revenue, by Enterprise Size (2017-2030)
6.6 Market Revenue, by End User (2017-2030)
6.7 Market Revenue, by Region (2017-2030)
Chapter 7. North America Market Size and Forecast
Chapter 8. Europe Market Size and Forecast
Chapter 9. APAC Market Size and Forecast
Chapter 10. LATAM Market Size and Forecast
Chapter 11. MEA Market Size and Forecast
Chapter 12. Competitive Landscape
Chapter 13. Company Profiles
Chapter 14. Appendix
Companies Mentioned
- Microsoft Corporation
- Oracle Corporation
- SAS Institute Inc.
- SAP SE
- International Business Machines (IBM) Corporation
- ThoughtSpot Inc.
- QlikTech International AB
- TIBCO Software Inc.
- Salesforce
- Looker Data Sciences Inc.
For more information about this report visit https://www.researchandmarkets.com/r/juq5zt
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