Data Monetization Market Growth, Size, Share, Trends, and Forecast 2032

Data Monetization Industry Prospective:

The global data monetization market size was worth around USD 3.26 billion in 2023 and is predicted to grow to around USD 12.42 billion by 2032 with a compound annual growth rate (CAGR) of roughly 16.02% between 2024 and 2032.

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Data Monetization Market: Overview

The technique of leveraging data to generate measurable financial gain is known as "data monetization." Data can be used internally or externally to guide choices and create quantifiable improvements in corporate performance. Data bartering, selling data outright (through a data broker or independently), offering information products and services (such as including information as a value-added component of an existing offering), and sharing data to obtain favorable terms or conditions from business partners are examples of external or direct methods.

Key Insights

• As per the analysis shared by our research analyst, the global Data Monetization market is estimated to grow annually at a CAGR of around 16.02% over the forecast period (2024-2032).
• In terms of revenue, the global Data Monetization market size was valued at around USD 3.26 billion in 2023 and is projected to reach USD 12.42 billion, by 2032.
• The growing digital transformation among businesses is expected to propel the market growth during the forecast period.
• Based on the method, the Analytics-enabled Platform as a Service segment is expected to capture the largest market share over the forecast period.
• Based on the enterprise size, the Large Enterprises segment is expected to capture a significant market share over the forecast period.
• Based on the industry vertical, the BFSI segment is expected to dominate the market over the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

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Data Monetization Market: Growth Drivers

Growing volume of data drives market growth

Businesses generate a lot of data from their digital touchpoints, customer interactions, and internal procedures. This data set contains both organized and unstructured information, offering valuable insights that can help guide strategic decisions and boost revenue. Enterprises are more motivated to devise strategies for deriving value from the information they are collecting. Not only may data be used internally, but data monetization provides an avenue to sell or share data with other businesses to make money.

A major factor contributing to the data explosion is the expansion of digital services, social media interactions, e-commerce, and Internet of Things (IoT) devices. As technology permeates more aspects of daily life, there will likely be a greater need for data monetization strategies and solutions.

Data Monetization Market: Restraints

Lack of experts hinders market growth

Gaining new opportunities sometimes entails moving up the value chain for data suppliers. This entails expanding on the data that already exists and switching to workflow solutions and productivity tools that are more integrated into the operations of clients. Higher margins, enduring partnerships, and new revenue streams are guaranteed by this kind of migration. However, this technique usually requires more advanced knowledge, equipment, and abilities. Therefore, the lack of skilled personnel might be a major restraining factor for the market growth over the forecast period.

Data Monetization Market: Opportunities

Digital transformation offers a lucrative opportunity for market growth

One significant factor driving market expansion is the digital revolution of business. Massive amounts of data are being produced by the continuing digital transformation in several industries, including BFSI, the automobile industry, and more. Companies are using social media, digital tools, IoT devices, and other online platforms to interact with clients and collect data. The quantity of data offers additional value and prospects for commercialization.

Large data quantities can be processed and stored more affordably due to cloud computing, which gives companies the ability to analyze and sell data-driven goods and services, potentially opening up new revenue streams. The capacity to collect, evaluate, and act upon data is increasingly valued as a competitive advantage, which is driving market growth and trends and increasing demand for data monetization solutions.

Data Monetization Market: Challenges

Security risk poses a major challenge to market expansion

For businesses using data monetization, cybersecurity concerns and data breaches present significant risks. Cyberattacks find it increasingly profitable to target data as its value increases. To keep sensitive data safe from exploitation and illegal access, organizations need to invest in strong cybersecurity safeguards.

Data Monetization Market: Segmentation

The global Data Monetization industry is segmented based on Method, Enterprise Size, Industry Vertical, and region.

Based on the method, the global Data Monetization market is bifurcated into Data as a Service, Insight as a Service, Analytics-enabled Platform as a Service and Embedded Analytics. The Analytics-enabled Platform as a Service segment is expected to capture the largest market share over the forecast period. This can be attributed to the method's capacity to provide clients with flexible data monetization. This approach is designed to provide customers with real-time information and great versatility. It comes pre-installed with BI and analytics tools. It may also be installed on-premises or in the cloud, and it works with all cloud-based systems. Furthermore, it supports a large variety of data formats. However, installation and maintenance of this approach require professional assistance. On the other hand, the Embedded Analytics segment is expected to grow at the highest CAGR during the forecast period. With the help of embedded analytics, applications already in use can be enhanced with capabilities like analytics, dashboard reporting, and data visualization. This process reduces TCO, expedites time to market, and produces personalized embedded analytics solutions. Similarly, insight as a service uses analytics to mix internal and external data sources to deliver data insights. Customers can receive updated data using this approach, which can handle particular datasets.

Based on the enterprise size, the global Data Monetization industry is segmented into Large Enterprises and SMEs. The Large Enterprises segment is expected to capture a significant market share over the forecast period. It can be attributed to the increasing number of major multinational organizations. Businesses with a solid presence in the retail, BFSI, and telecommunications verticals are part of the data monetization market. Moreover, big businesses have clients all around the world and the value chain. They possess sufficient funding, business plans, and technical know-how. The market is requiring more and more cutting-edge technologies, such as artificial intelligence (AI) and cloud computing. To ensure business continuity, large organizations can afford to invest in these new technologies with ease.

Based on the industry vertical, the global Data Monetization market is segmented into E-commerce & Retail, BFSI, Manufacturing, Telecommunications & IT, Energy & Utilities, Healthcare and Others. The BFSI segment is expected to dominate the market over the forecast period. It is related to the fact that the majority of data-rich organizations are becoming more and more prevalent in the banking industry. BFSI corporations handle more than 3.8 petabytes of data, according to industry experts in banking and financial security firms. In the BFSI sector, it has led to a huge need for data monetization. Moreover, BFSI's data monetization increases operating income and customer contacts by more than 50%. Throughout the projected period, these factors are expected to fuel market expansion.

Data Monetization Market: Report Scope

Regional Analysis

North America is expected to dominate the market during the forecast period

North America is expected to dominate the market over the forecast period. It can be attributed to the presence of significant players in the area. Furthermore, the U.S. has a significant impact on the region's growth. American and Canadian businesses are investing in and utilizing cutting-edge technology like big data, analytics, and cloud computing at a rapid pace. North America benefited from being the first to market. Regional expansion has also been greatly impacted by the growing need among businesses to automate decision-making processes, save infrastructure costs, and improve technology.

On the other hand, the Asia Pacific is expected to grow at the highest CAGR during the forecast period. New technology adoption is growing at a very rapid rate in the Asia-Pacific area. The commercialization of AI, IoT, and big data technologies as well as the need for additional technological developments to creatively utilize these technologies are expected to propel the adoption of data monetization products and services in this region. Positive effects on regional growth were also seen in the developing manufacturing and automotive industries, the quick rise in e-commerce, the increasing breakthroughs in networking technologies, and the growing number of regulatory mandates.

Data Monetization Market: Competitive Analysis

The global Data Monetization market is dominated by players like:

• Cisco Systems Inc.
• Accenture
• Gemalto NV
• IBM Corporation
• Adstra
• Infosys Limited
• Monetize
• Comviva
• Domo Inc.
• SAP SE
• Revelate Data Monetization Corp.
• Reltio

The Global Data Monetization market is segmented as follows:

By Method

• Data as a Service
• Insight as a Service
• Analytics-enabled Platform as a Service
• Embedded Analytics

By Enterprise Size

• Large Enterprises
• SMEs

By Industry Vertical

• E-commerce & Retail
• BFSI
• Manufacturing
• Telecommunications & IT
• Energy & Utilities
• Healthcare
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa