Data Monetization Market to Witness 10.70% CAGR by 2031 | SkyQuest Technology
Westford USA, Oct. 14, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that Data Monetization Market will attain the value of USD 16.98 Billion by 2031, with a CAGR of 10.70% during the forecast period (2024-2031). The rapidly increasing volume of data across the globe and increasing digital transformation are expected to fuel the growth of the data monetization market. The increasing awareness of the benefits of analytics and the adoption of big data analytics worldwide will also create new opportunities for data mining companies. The widespread adoption by organizations around the world and huge investments in improving personalized customer experience. Furthermore, the use of artificial intelligence and machine learning is also driving the growing importance of data globally, and thus changing the demand for data currencies. Conversely, the high expenses associated with data analytics infrastructure and the challenges of integrating and managing data for the future hinder the market’s growth.
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Browse in-depth TOC on “Data Monetization Market ”
- Pages – 157
- Tables – 95
- Figures – 76
Data Monetization Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 7.53 Billion |
| Estimated Value by 2031 | USD 16.98 Billion |
| Growth Rate | Poised to grow at a CAGR of 10.70% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Data type, Business Function, Deployment Type, Organization Size, Industry Vertical and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Growth in IoT and Connected Devices |
| Key Market Drivers | Rising Use of Blockchain Technology |
Data Monetization Tools Segment to Dominate with Artificial Intelligence Integration
Data monetization tools are expected to account for the dominant share in the global data monetization market. Properly configuring data economy tools helps to collect, organize and prepare data. These tools also help in providing proper monetization scope for data monetization companies and are essential in any data monetization process thereby helping the dominance of the segment. Integration of artificial intelligence with other technologies to improve the capabilities of devices will also be key to helping this segment market share.
IT and Telecommunications Industry Segment to Earn Large Shares Due to Increase in Adoption of Data-driven Decision-making
The demand for data consumption in the IT and telecommunications industry is estimated to grow at an incredible pace during the forecast period. The increasing adoption of data-driven decision-making across all verticals in this industry and the increasing number of data generation provide exciting opportunities for data mining companies. The rise of the Internet population in developing countries will also lead to a significant increase in data generation for telecommunications industry which in turn will improve the monetization of data.
North America to Dominate Owing to Rise in Adoption of Data-driven Decision-making
North America is expected to hold the largest share of the global data monetization market. High data generation and the presence of leading data management companies have made this sector a top destination for data mining companies. The increasing adoption of data-driven decision making by organizations in this segment will also help drive compliance. Canada and the United States have long offered lucrative business opportunities for companies that have leveraged the data currency. Multiple data centers in the region will also play an important role in driving demand for the data economy.
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Drivers
- Increasing Volume of Data Generated by Businesses
- Rising Demand for Data-Driven Decision Making
- Advancements in Data Analytics and AI Technologies
Restraints
- Data Privacy and Security Concerns
- High Implementation Costs for Monetization Solutions
- Lack of Data Standardization Across Industries
Prominent Players in Data Monetization Market
The following are the Top Data Monetization Companies:
- Microsoft (US)
- Oracle (US)
- Salesforce (US)
- SAS (US)
- TIBCO Software (US)
- IBM (US)
- Qlik (US)
- SAP (Germany)
- ThoughtSpot (US)
- Sisense (US)
- Domo (US)
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Key Questions Answered in Data Monetization Market Report
- How big is the global Data Monetization Market?
- What are the key drivers of the global Data Monetization Market size?
- Which is the growing region in the global Data Monetization Market?
This report provides the following insights:
- Analysis of key drivers (increasing volume of data generated by businesses, rising demand for data-driven decision making, advancements in data analytics and ai technologies), restraints (data privacy and security concerns, high implementation costs for monetization solutions, lack of data standardization across industries), opportunities (emerging markets for data exchange platforms, growth in Iot and connected devices, expansion of aI-powered predictive analytics) influencing the growth of Data Monetization Market.
- Market Dynamics: Comprehensive information about the various products offered by the dominant players in the Data Monetization Market.
- Product Development/Innovation: An overview of emerging trends, R&D activities and product launches in the Data Monetization Market.
- Market Growth: Detailed information on profitable growing industries.
- Market Trends: Complete information about new products, emerging geographical areas and recent developments in the market.
- Competitive Analysis: An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players.
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SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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