Portland, OR, Oct. 27, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global data monetization market was estimated at $44.86 billion in 2016 and is expected to hit $370.96 billion by 2023, registering a CAGR of 35.4% from 2017 to 2023. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Continuous rise in the volume of enterprise data, technological advancements in big data & analytics solutions, and increasing importance to generate new revenue streams fuel the growth of the global data monetization market. On the other hand, several security and privacy concerns restrain the growth to some extent. However, rise in awareness about the potential benefits of data monetization
and surge in adoption of the technique among telecom service providers are expected to create multiple opportunities for the key players in the industry.
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Covid-19 scenario-
- The wake of COVID-19 has led to a digital acceleration to respond to the pandemic.
- Many elements of digital transformation that may have taken years to be fully implemented have now come to the fore. Data monetization is one of such spectrums.
Get detailed COVID-19 impact analysis on the Data Monetization Market
The global data monetization market is analyzed across end-user and region. Based on end-user, the BFSI segment garnered the highest market share in 2016, and is expected to maintain the lion’s share throughout the forecast period. The other segments' studies in the report include E-commerce & Retail, Telecommunication & IT, Manufacturing, Healthcare, Energy & Utilities, and Others.
Based on the region, North America accounted for the major market revenue in 2016 and is projected to rule the roost by the end of 2027. Asia-Pacific, on the other hand, would portray the fastest CAGR from 2017 to 2023. The other two provinces assessed in the report include Europe and LAMEA.
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The key market players analyzed in the global data monetization market report include SAP SE, Adastra Corporation, Accenture, Cisco Systems, Inc., Monetize Solutions, Inc., Mahindra ComViva ALC, Reltio, Optiva, Inc. (Redknee Solutions Inc.), and VIAVI Solutions Inc. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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