According to a new report published by KD Market Insights, titled, “Data Monetization Market Insights, Trends, Opportunity & Forecast, 2021–2026,” the global data monetization market size is anticipated to witness exponential growth during forecast period i.e. 2021-2026. The increasing volume of data generation worldwide is one of the prime factors contributing toward the scintillating growth of the data monetization market.
Factors such as low cost of data storage, increasing need to create insights from a pool of data and the growing adoption of advanced data-driven decision-making platforms are leading toward the disruptive growth of data monetization market. The increasing usage of data monetization by various corporate to stay ahead of the competition and the rising adoption of AI for data processing are expected to create ample opportunities for data monetization vendors.
The Asia Pacific region is expected to grow at the highest CAGR during the forecast period. This can be attributed to the increasing adoption of new technologies and the commercialization of big data, artificial intelligence, IoT technologies and the need for further advancements to leverage these technologies to the best are anticipated to drive the adoption of data monetization tools and services in the region. Countries such as Australia, China, Japan, Singapore, and India are expected to be the major contributors in the region.
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According to deployment type, the on-premises segment is expected to hold the largest market size during the forecast period. According to organization size, the large enterprises segment is projected to hold majority of the market share during the forecast period. This is because of the huge data generated by the large enterprises due to their large corporate network and revenue streams.
The global data monetization market is segmented into offering, application, vertical, method, organization size, deployment type and region. Based on offering, the market is bifurcated into platform, standalone, suite and services. Based on application, it is classified into sales & marketing, supply chain assessment, operations, finance, equipment monitoring and others. Based on vertical, it is classified into telecommunication, automotive, healthcare, FMCG, travel & logistics, retail, BFSI and others. Based on method, it is classified into direct data monetization and indirect data monetization. Based on organization size, it is classified into large organization and small & medium enterprises. Based on deployment type, it is classified into on-premises and cloud based.
The global data monetization market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Key Insights of Data Monetization Market
- On the basis of deployment type, the on-premises segment is expected to hold the largest market size during the forecast period.
- On the basis of organization size, the large enterprises segment is projected to hold majority of the market share during the forecast period.
- On the basis of region, Asia Pacific is expected to grow at the highest CAGR during the forecast period.
Some of the major data monetization companies profiled in the report include Accenture, IBM, Google LLC, Infosys, Tech Mahindra, SAP SE, Paxata Inc., Ness, Gemalto NV and Cisco.
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