Data Monetization Market size to grow by USD 4.18 billion from 2022 to 202, High adoption of data monetization by various platforms to boost market growth, Technavio

NEW YORK, March 5, 2024 /PRNewswire/ — The data monetization market is expected to increase by USD 4,184.81 million from 2022 to 2027, registering a CAGR of 19.57%, according to the latest research report from Technavio. Discover IT Consulting & Other Services industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!

Vendor Landscape

The data monetization market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Ciena Corp – The company offers data monetization services such as inconsistent fiber access, a new cloud business ecosystem, and internal complexity and cost.Cisco Systems Inc. – The company offers data monetization solutions for multi-domain and multi-vendor environments.Extreme Networks Inc. – The company offers data monetization that creates a stronger connection with visitors using data validation and high-quality Wi-Fi. For the market’s vendor landscape highlights with a comprehensive list of vendors and their offerings. View Sample in minutes

Key Market Segmentation

The market is segmented by type (solution and service), platform (BFSI, E-commerce and retail, media and entertainment, manufacturing, and others)

The market share growth by the solution segment will be significant during the forecast period. The amount of data has grown significantly through customer interactions, IoT devices, and social media. Companies can gain actionable insights that provide direct solutions to existing business problems, leading to continued business growth. Other growth drivers are price optimization and improved inventory management. Hence, these factors are expected to drive segment growth during the forecast period. View Sample Report in minutes for more highlights into the market segments.

Regional Market Outlook

By geography, the market is segmented by APAC, North America, Europe, South America, and Middle East and Africa)

North America is estimated to contribute 33% to the growth of the global market during the forecast period. Various technology companies, start-ups, venture capital firms, and even North American industries such as BFSI, retail, and e-commerce are expanding their data infrastructures extensively. The innovation in data-driven services is driven by the help of advanced data collection and storage capabilities. This contributes to the rapid and robust integration of data monetization in the region. Hence, the above-mentioned factors are expected to drive market growth in the region during the forecast period. For more key highlights on the regional market share of most of the above-mentioned countries. View Sample Report

Companies Mentioned

Accenture PlcCiena Corp.Cisco Systems Inc.CoreSite Realty Corp.Equinix Inc.Extreme Networks Inc.Fujitsu Ltd.Huawei Technologies Co. Ltd.Infosys Ltd.International Business Machines Corp.Juniper Networks Inc.Microsoft Corp.Nokia Corp.NTT Corp.Oracle Corp.Salesforce Inc.SAP SESAS Institute Inc.TIBCO Software Inc.Viavi Solutions Inc.

The high adoption of data monetization by various platforms

The benefits of implementing data-driven decision-making for business growth and profit are being recognized and gaining popularity in the business world across multiple industries. Additionally, various other industries such as banking and healthcare can also leverage raw customer data and leverage insights to improve customer retention and loyalty. Hence, these benefits are expected to drive market growth during the forecast period.

The digital transformation of business is a major trend in the market. Data privacy and regulatory compliance are significant challenges restricting market growth. Gain instant access to 17,000+ market research reports. Technavio’s SUBSCRIPTION platform

Analyst Review

In today’s digital landscape, big data analytics has become more than just a buzzword; it’s a crucial component for businesses aiming to thrive in a data-driven world. Among the myriad opportunities presented by this data deluge, it stands out as a strategic avenue for extracting tangible value from raw information. However, navigating this landscape requires adept data processing capabilities and robust organizational capabilities to overcome potential cultural barriers.

At the heart of it lie sophisticated Business Intelligence (BI) tools, which serve as the cornerstone for uncovering actionable insights. These tools leverage cutting-edge technologies such as AI, IoT, machine learning, and deep learning to sift through vast datasets, identifying patterns and trends crucial for decision-making. With the right BI tools, organizations can optimize their solutions, ensuring efficient data structures and high data quality.

To capitalize on this burgeoning market, businesses must engage with reputable vendors operating within the market ecosystem. Understanding the nuances of the market and identifying key customer data segments are essential steps towards success. Moreover, selecting the appropriate deployment type, whether on-premises or cloud, depends on factors such as organization size and vertical.

For instance, within the telecommunication industry vertical, it presents unparalleled opportunities to leverage data generation and data collection processes. As highlighted by Internet Live Stats, the sheer volume of data generated daily underscores the urgency for effective strategies among enterprises.

However, success in it requires more than just technological prowess; it necessitates a robust data governance program and a skilled workforce adept in talent management. The role of a Chief Data Officer (CDO) becomes pivotal in ensuring a strong return on investment (ROI) from it’s initiatives.

Analyzing it’s trends and understanding market segmentation is imperative for targeted application analysis, whether in customer service, sales and marketing, or finance domains. Furthermore, insights into deployment analysis across cloud and on-premise solutions, along with a focus on enterprise type analysis differentiating between large enterprises and SMEs, provide a comprehensive view of the industry.

In conclusion, the market promises exponential growth fueled by advancements in business intelligence, artificial intelligence (AI), internet of things (IoT), and cloud computing. By leveraging method insights such as analytics-enabled platform as a service, embedded analytics, and insight as a service, organizations can unlock the full potential of data monetization, driving innovation and sustainable growth. View Sample Report

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Table of Contents

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

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