New York, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Data Marketplace Platform Market Size, Share & Industry Trends Analysis Report By Component, By Type, By Enterprise size, By Revenue Model, By End-user, By Regional Outlook and Forecast, 2022 – 2028" - https://www.reportlinker.com/p06352721/?utm_source=GNW
A data marketplace platform makes a wide range of data categories, including demographic, business intelligence, firmographics, and personal data, available. Self-service data access is made possible by the platform, which upholds consistency, excellent data quality, and security for all parties.
Organizations and businesses are starting to add external data to their internal data sets, which is boosting market expansion. It is a method of facilitating data exchange that is secure and effective, supports many data sharing models, and satisfies the needs of various data sets and customers. It also makes it possible for businesses to share data via data marketplace platforms, spurring data-driven innovation and incorporating third-party providers into these marketplaces. They are also in charge of enhancing small and medium-sized businesses’ competitiveness.
For most businesses, data and information are their most valuable assets. Organizations can utilize their data to enhance their operations, but their data also has substantial value outside of operations. Data marketplaces allow sellers to make money from their data while buyers can buy datasets to improve analytics and provide new services to customers. The majority of data marketplaces are cloud services where people or companies submit data to the cloud.
These solutions allow for self-service data access while maintaining both parties’ security, and consistency, as well as good data quality. The development of Big Data is associated with the advent of data marketplaces. Organizations are beginning to view data as a valuable asset. Business organizations are producing more data, either internally or by web scraping and other means. Some of this information is useful to other businesses as well. Data markets help businesses make money out of their data.
COVID-19 Impact Analysis
The COVID-19 pandemic had a severe impact on the economy all over the world. A number of large as well as small and medium-sized businesses were demolished as a result of the outbreak. However, the pandemic had a positive impact on the data marketplace platform market due to an increase in the usage of smart devices all over the world. Due to the growing use of data services, growing use of IoT and web scraping, and developing usage of blockchain, with remote access data services in sectors, like IT, retail & e-commerce, BFSI, hotel, and media & entertainment, the COVID-19 pandemic had a positive impact on data services.
Market Growth Factors
Rapidly rising data volumes due to increasing penetration of technologies
With the increasing penetration of technologies all over the world, data volumes are constantly growing. The size of the data sets that a business has gathered for analysis and processing is referred to as the volume of data. These data sets are regularly observed in technology today pushing on the higher size of bytes, like terabytes and petabytes. In contrast to traditional storage and processing capabilities, the increased volume of data typically necessitates distinct and diverse processing technologies. Moreover, the magnitude of the data sets inside big data makes it impossible to compute them using a standard laptop or desktop CPU. Hence, this factor is majorly boosting the growth of the data marketplace platform market.
The Increasing Significance Of External Data For Businesses
It is becoming increasingly clear how important external data is for both companies trying to buy and sell data. Data Capital refers to external data, an asset that has the capacity to change strategy and performance at several organizations and enterprises, much to how human and financial capital help firms to flourish. The requirement for external data capital is growing as a significant number of businesses concur that they must use external data sourcing more frequently. Businesses can make better-informed judgments, improve their predictive models, increase efficiency, and maximize ROI by enhancing private data with outside ideas. This factor is augmenting the growth of the data marketplace platform market.
Market Restraining Factors
Lack Of Development And Advancements In This Sector
Data markets frequently fall short because they lack a method for adequately resolving crucial trust issues. They chose to ignore the particularities of data in favor of sticking with the traditional market paradigm. Certainly, a traditional marketplace is not the best model for facilitating transactions between data sources and customers. Any market must also deal with problems that are intrinsic to the marketplace paradigm, such as commoditization, disintermediation, governance of inappropriate behavior, and the cold-start issue, all of which are potentially far more important when the asset is data. This factor is impeding the growth of the data marketplace platform market.
Component Outlook
Based on Component, the Data Marketplace Platform Market is bifurcated into Platform (without services) and Services. In 2021, the platform (without services) segment acquired the largest revenue share of the data marketplace platform market. The development of cloud platforms, as well as the growing use of IoT, ML, AI, and big data for data management, are credited with the increase in the growth of the segment. Data sharing, distribution, and administration are now easier because of technology improvements that do not require expensive hardware and rigid business processes.
Type Outlook
On the basis of Type, the Data Marketplace Platform Market is segmented into Personal Data Marketplace Platforms, B2B Data Marketplace Platforms, and IoT Data Marketplace Platforms. In 2021, the IoT data marketplace platforms segment recorded a substantial revenue share of the data marketplace platform market. The simplicity of data integration and expanding network of connected devices are two factors that have contributed to the growth of this market. A platform that creates real-time data gathered from connected devices and makes it available for purchasing and selling is known as an IoT data marketplace.
Enterprise Size Outlook
On the basis of Enterprise Size, the Data Marketplace Platform Market is divided into Large Enterprises and SMEs. In 2021, the large enterprise segment acquired the largest revenue share of the data marketplace platform market. The expansion of the segment is being driven by an increase in the demand for corporate as well as IoT data marketplace platforms to suit end-user needs. In order to build a solid platform for exchanging data and information and enable direct and indirect monetization from revenue streams, SaaS vendors and major data service providers are investing in research and development operations.
Revenue Model Outlook
By Revenue Model, the Data Marketplace Platform Market is segregated into Subscription, Commission, Paid features, and Others. In 2021, the commission segment registered a significant revenue share of the data marketplace platform market. The increase in the growth of the segment is due to the high tendency for a higher profit rate over the sold data. Under this type of revenue model, the seller receives a commission on the data they sold. Income security is another major factor that is boosting the growth of this segment of the market.
End-User Outlook
By End-User, the Data Marketplace Platform Market is categorized into Financial Services, Advertising, Media & Entertainment, Retail & CPG, Healthcare & Life Sciences, Technology, Public Sector, Manufacturing, and Other. In 2021, the financial services segment acquired the largest revenue share of the data marketplace platform market. Cloud platforms enable the utilization of big data for financial use cases by financial companies, including the provision of personalized recommendations, the creation of new income streams through data-driven proposals, and the development of effective services to gain a competitive edge.
Regional Outlook
Region-Wise, the Data Marketplace Platform Market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2021, North America accounted for the highest revenue share of the data marketplace platform market. The expansion is linked to the region’s developments in machine-to-machine (M2M) communications networks, the growing use of IoT solutions, and the implementation of cutting-edge technologies like AI, AR/VR management and orchestration capabilities, and machine learning. In addition, significant businesses, including Acxiom LLC, Snowflake, AWS, and Quandl, among others, are among the primary growth factors that have fueled the industry’s expansion.
The major strategies followed by the market participants are Partnership. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation are the forerunners in the Data Marketplace Platform Market. Companies such as Amazon.com, Inc., Oracle Corporation and SAP SE are some of the key innovators in Data Marketplace Platform Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon Web Services, Inc. (Amazon.com, Inc.), Oracle Corporation, SAP SE, Microsoft Corporation, Adobe, Inc., Snowflake, Inc., Nasdaq, Inc. (Quandl, Inc.), BattleFin, Narrative I/O, Inc., and Datarade GmbH.
Recent strategies deployed in Data Marketplace Platform Market
Partnerships, Collaborations & Agreements
Jul-2022: Adobe came into a partnership with Marketplacer, a global technology SaaS platform. This partnership aimed to improve the global commerce marketplace while also making Marketplacer able to add additional value for brands, retailers, as well as solutions providers.
May-2022: Oracle came into a partnership with Informatica, an enterprise cloud data management leader. This partnership aimed to bring industry-leading data integration and governance products of Informatica to the offerings of Oracle Cloud Infrastructure.
May-2022: Microsoft entered into a partnership with BeekeeperAI, a zero-trust platform. Following this partnership, the companies would enable healthcare data stewards and algorithm developers to access BeeKeeperAI through Microsoft Azure’s confidential computing environment with the aim to expedite the use and understanding of confidential computing.
Nov-2021: Amazon Web Services collaborated with Teradata, the connected multi-cloud data platform. This collaboration aimed to increase product development and integrations in order to introduce go-to-market programs together with the aim to aid customers in modernizing, migrating and de-risking their cloud adoption through Teradata Vantage over AWS.
Nov-2021: Amazon Web Services partnered with Goldman Sachs, an American multinational investment bank and financial services company. Through this partnership, the companies aimed to unveil a new suite of cloud-based data and analytics solutions for financial institutions called Goldman Sachs Financial Cloud for Data.
Nov-2021: Nasdaq entered into a partnership with Amazon Web Services, a subsidiary of Amazon. With this partnership, the companies aimed to develop the next generation of cloud-enabled infrastructure for capital markets all over the world.
Oct-2021: Snowflake partnered with UiPath, a leader in enterprise automation software. This partnership aimed to integrate UiPath Insights into Snowflake’s platform to comply with the growing market demand to allow customers to expedite analytics and automation at scale.
Jul-2021: Adobe entered into a partnership with Walmart, an American multinational retail corporation. Following this partnership, the companies aimed to integrate the omnichannel fulfillment technologies and marketplace of Walmart into Adobe Commerce.
Jul-2021: SAP partnered with Google Cloud, a suite of cloud computing services. Under this partnership, SAP would offer its solution over Google Cloud marketplaces in order to support business process modernization.
Jun-2021: Nasdaq entered into a partnership with Digital Asset, a leading financial technology and services company. This partnership would bring Daml-driven applications to the Marketplace Services Platform of Nasdaq. Furthermore, this partnership would also offer new prospects for customers aiming to launch marketplaces.
Jun-2021: AWS came into a partnership with Salesforce, an American cloud-based software company. Through this partnership, the companies aimed to facilitate in for developers to leverage technologies in order to develop and introduce customer applications.
Jun-2021: Datarade entered into a partnership with Intellizence, a leading AI platform-providing company. Through this partnership, Datarade aimed to enable its customers to seamlessly discover, compare, and buy data products from Intellizence’s portfolio.
Jun-2021: Oracle entered into a partnership with Deutsche Bank Partners. leading financial service providers. With this partnership, the companies aimed to expedite the modernization of technologies. In addition, Deutsche would upgrade its prevailing database systems and shift the bulk of its Oracle Database estate to Oracle Exadata Cloud.
Apr-2021: Datarade partnered with Acxiom, a leader in identity and customer data. Under this partnership, Datarade aimed to leverage Acxiom’s data in order to create highly qualified audiences, extend reach with new prospect segments, and find look-alikes.
Jun-2020: Microsoft partnered with SAS, the leader in business analytics software and services. Under this partnership, the companies would migrate analytical products and industry solutions of SAS to Microsoft Azure as the preferred cloud provider for the SAS Cloud.
Jun-2020: BattleFin partnered with RepRisk, a leader and pioneer in ESG data science. This partnership aimed to significantly increase alternative data buyer access to ESG risk data.
Product Launches and Product Expansion
Mar-2022: Snowflake rolled out Retail Data Cloud. With this launch, the company aimed to enable retailers, distributors, manufacturers, and CPG vendors to utilize their own data while also accessing new data and impeccably collaborating within the retail industry.
Jan-2022: Amazon Web Services launched AWS Data Exchange, a new function for Amazon Redshift. The new feature enables customers to discover and subscribe to third-party data over data exchange, which can be queried in an Amazon Redshift data warehouse in a short period of time.
Jul-2021: Narrative unveiled Data Shops. The new innovative solution aimed to streamline businesses to develop and launch their own branded data e-commerce experience without the requirement for a lot of time and resources.
Feb-2021: SAP introduced One Marketplace, a solution for SAP and Partner Solutions. This solution is an integration of SAP App Center and SAP Store, which would significantly improve the customers’ shopping experience in order to facilitate their migration to Intelligent Enterprise.
Jun-2020: Nasdaq released the Marketplace Services Platform. The new solution aimed to offer advanced marketplace capabilities to facilitate transaction lifecycle as well as the frictionless exchange of assets, information, and services over multiple market ecosystems as well as machine-to-machine transactions.
Acquisitions and Mergers:
Mar-2022: Snowflake acquired Streamlit a framework to accelerate data applications creation. Following this acquisition, the company aimed to unlock new capabilities of data and also simplify the development of useful applications.
Geographical Expansion
Jun-2021: AWS expanded its geographical footprint through the launch of AWS Data Exchange and AWS Marketplace for data providers and sellers from Hong Kong and Qatar. With this geographical expansion, the company aimed to allow Hong Kong and Qatar-based consulting partners to transact through AWS Data Exchange and AWS Marketplace. In addition, this expansion would also increase the width of data offerings as well as software available to customers across the world.
Jan-2021: Oracle expanded its geographical footprint with the launch of the Oracle Cloud Marketplace in the United States. This geographical expansion would allow the company to strengthen businesses in order to completely automate certified solutions deployment to the Oracle Cloud Infrastructure.
Scope of the Study
Market Segments covered in the Report:
By Component
• Platform (without Services)
• Services
By Type
• B2B
• IoT
• Personal
By Enterprise size
• Large Enterprises
• SME’s
By Revenue Model
• Subscription
• Commission
• Paid features
• Others
By End-user
• Financial Services
• Healthcare & Life Sciences
• Advertising, Media & Entertainment
• Retail & CPG
• Technology
• Public Sector
• Manufacturing
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Amazon Web Services, Inc. (Amazon.com, Inc.)
• Oracle Corporation
• SAP SE
• Microsoft Corporation
• Adobe, Inc.
• Snowflake, Inc.
• Nasdaq, Inc. (Quandl, Inc.)
• BattleFin
• Narrative I/O, Inc.
• Datarade GmbH
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06352721/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
