The global data monetization market size is expected to reach USD 12.22 billion by 2030, according to a new study by Polaris Market Research. The report “Data Monetization Market Share, Size, Trends, Industry Analysis Report, By Data (Customer, Product, Financial, Supplier); By Vertical; By Component; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Data monetization is the method in which company-generated information is used to create a computable economic profit. This process helps businesses understand their revenue flow, whether it is increasing or reducing expenses. The companies adopting this monetization method create new partnerships by sharing their information with third parties in a mutually beneficial arrangement.
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Further, it has been observed that certain companies release their information on open platforms and provide a free offering of information services to a sufficient number of outside companies. For instance, companies such as Google and Facebook were free platforms to create enormous information assets to sell worldwide. Therefore, monetization was a platform for sharing information between two companies to generate revenue or create new revenue-generating streams.
Factors such as enhanced decision-making that leads to real-time crowd-sourced research, improved profits, decreased costs, reduced risk, and improved compliance are the few factors driving the growth of the industry.
Further, the factors stimulating the growth of the industry are cost reduction, increase in revenue, and innovative opportunities for new information-related services such as IoT, digitalization, and developments in traditional technologies.
Data Monetization Market Report Highlights
- The software segment holds the majority share of the market. It is expected to grow further over the forecast period owing to the increased use of business applications to enhance the company’s capabilities and derive insights from the business data
- Customer data accounted for the largest market share in 2021, accelerated by the increased usage of information for understanding customer decisions related to product design and pricing & guttering buying patterns
- The telecommunication segment accounts for a significant market share due to massive information generation due to technological advancements over the last decade and in the near future
- The Asia Pacific is expected to grow exponentially over the forecasted period on account of the growing adoption of advanced technologies, such as cloud computing and IoT
- The industry is highly competitive owing to prominent industry players with a global presence, including Monetize Solutions, Inc., Oracle, Optiva, Inc., Reltio, and Virtusa
Polaris Market Research has segmented the data monetization market report based on form, product, application, and region:
Data Monetization, Component Outlook (Revenue – USD Billion, 2018 – 2030)
Data Monetization, Data Outlook (Revenue – USD Billion, 2018 – 2030)
Data Monetization, Vertical Outlook (Revenue – USD Billion, 2018 – 2030)
- Consumer Goods & Retail
- Media & Entertainment
- Transportation & Logistics
- Energy & Utilities
Data Monetization, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa