Data Monetization Market: Current Analysis and Forecast (2021-2027)

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The global data monetization market is expected to register a CAGR of around 21% over the period of 2021-2027. The global data monetization market is uplifting on account of the continuously rising volume of enterprise data along with rapid advancements in big data as well as big data analytics. Moreover, the growing internet penetration rate accompanied by surging cloud computing will positively stimulate the industry landscape. Data monetization is the process of using data to increase overall revenue. Some of the best performing and fast-growing companies are embracing data monetization and making it an important part of their strategy. Companies such as Amazon, Facebook, and Google are cashing data and using it to drive the growth of trillion-dollar businesses. Inspired by their success, enterprises in all industries are scrutinizing their data to discover opportunities to create value. For instance, Amazon uses dynamic pricing and product recommendation as some of their core techniques to increase the revenue. Dynamic pricing is a pricing strategy that uses variable prices instead of fixed prices. The idea behind the dynamic pricing model is to sell the same product to different groups of people at different prices. Moreover, Amazon collects all the data about its customers such as their names, addresses, search history, payments, etc. so that it can provide a truly personalized experience using big data analytics.

SAP SE, Microsoft Corporation, QlikTech International AB, TIBCO Software Inc., Oracle Corporation, Sisense Inc., Salesforce Inc., Accenture PLC, Virtusa Corp., and Infosys Limited are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

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Insights Presented in the Report

“Amongst organization size, large enterprises category held a prominent share in the market in 2020”

On the basis of organization size, the data monetization market is segmented into large enterprises and SMEs. Among these two, the large enterprises catered to a significant share of the market in 2020. This is due to the adoption of new and emerging technologies by large enterprises and their interest to invest in new technologies to efficiently run their businesses. It is important for enterprises to adopt data monetization to handle customer demands and manage supply chains while maintaining their business efficiency to compete in a highly competitive market.

“Amongst industry, information and communication technology category held a prominent share in the market in 2020”

Based on industry, the data monetization market is classified into banking and financial services, information and communication technology, education, healthcare, retail and e-commerce, and others. The information and communication technology industry accounted for a significant share of the global data monetization market and is expected to witness a substantial growth during the forecast period. Factors driving the growth of this segment are the advancements in communication technologies such as 4G and 5G and growing internet penetration rate. Communication companies have started investing in data monetization tools and services for getting useful insights from their customer database. With accessibility to these massive data sets, companies operating in the communication industry are emerging as one of the major adopters of data monetization.

“APAC to witness significant growth during the forecast period”

Asia-Pacific data monetization market is expected to witness a prominent CAGR during the forecast period. The growth of this market can be attributed to the growing internet penetration rate, rising adoption of data-driven decision making, and a growing number of enterprises in the region. Internet penetration rate is rising volume of data in the region which results in rising adoption of data-based solutions which is further contributing to the data monetization market. Furthermore, a large number of internet data providers in the APAC region are also supplementing the growth within the global data monetization market. Additionally, the declining price of internet data is also increasing investments in the field. According to World Bank, the percentage of population using internet in APAC was 67% in 2020 which is expected to grow at steady rate.

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Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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Research Methodology

Research Methodology for the Data Monetization Market Analysis (2021-2027)

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global data monetization market were the three major steps undertaken to create and analyze the adoption of data monetization in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global data monetization market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the data monetization market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the data monetization market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as component, data type, deployment, organization size, and industry. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the data monetization market. Further, we conducted factor analysis using dependent and independent variables such as various component, data type, deployment, organization size, and industry of data monetization. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the data monetization market sector across the globe. 

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global data monetization market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of data monetization market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global data monetization market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global data monetization market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of component, data type, deployment, organization size, and industry in the global data monetization market.

The main objective of the Global Data Monetization Market Study

The current & future market trends of the global data monetization market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the data monetization market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of component, data type, deployment, organization size, and industry.
• Define and analysis of the regulatory framework for the data monetization market industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the data monetization market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the World.
• Company profiles of the data monetization market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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