Data monetization refers to the monetization of the asset of data to generate high revenue.
It is the process of converting the unstructured large volume of enterprise data into valuable insights, and monetizing the data into currency or exchange of service. The ability of data monetization to sort data in a raw format, store it in different structural formats, and subsequently release it for further analytics is driving its demand among numerous industry verticals.
In addition, it helps organizations to increase revenue by investing in analytics platform, which helps to obtain valuable insights from the unstructured data.
Continuous rise in the volume of enterprise data, technological advancements in big data & analytics solutions, and increase in importance to generate new revenue streams from the data volume of organizations drive the growth of the market.
However, security and privacy concerns are expected to impede the market growth. Conversely, increased adoption of data monetization among telecom service providers and upsurge in awareness about the potential benefits of data monetization are projected to offer major opportunity for market expansion.
The global data monetization market is segmented on the basis of industry vertical and region. Depending on industry vertical, the market is categorized into BFSI, e-commerce & retail, telecommunication & IT, manufacturing, healthcare, energy & utilities, and others.
Regionally, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global data monetization market is dominated by key players such as Accenture, SAP SE, Adastra Corporation, Monetize Solutions, Inc., VIAVI Solutions Inc., ALC, Reltio, Optiva, Inc. (Redknee), and Cisco Systems, Inc., and Mahindra ComViva.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global data monetization market and current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided.
- Porter’s Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global market from 2016 to 2023 is provided to determine the market potential.
KEY MARKET SEGMENTS
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- E-Commerce & Retail
- Telecommunication & IT
- Energy & Utilities
- North America
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