Data Monetization Market - Size, Trends, Forecast & Statistics (2024)

The Report Covers Data Monetization Companies and Segments the Market by Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), End-User Industry (BFSI, Telecom and IT, Manufacturing, Healthcare, Retail, and Other End-User Industries), and Geography (North America, Europe, Asia, Australia and New Zealand, Latin America, Middle East, and Africa). The Report Offers Market Sizes and Forecasts in Value (USD) for all the Above Segments.

Data Monetization Market Analysis

The Data Monetization Market size is estimated at USD 4.17 billion in 2024, and is expected to reach USD 10.35 billion by 2029, growing at a CAGR of 19.94% during the forecast period (2024-2029).

The increasing importance of data in business decisions and strategy development in the B2B environment is driving the demand for the market. This is also supported by the integration of digital devices and systems in the business environment to generate data, the growth of internet usage to increase consumer data volume, and the emergence of data analytics tools in the market, creating an opportunity for the market’s growth and to monetize the generated data worldwide.

• Data monetization strategies relied on more traditional analytical techniques and struggled to deal effectively with unstructured data. However, easier access to significant computing resources via cloud platforms and the commoditization of some AI/machine learning-powered analysis engines are creating more affordable opportunities to extract both values and return on investment, which would drive the market's future growth. Independent software vendors have turned to self-service business intelligence to increase application revenue and differentiate their offerings in line with technological advancement.
• Similarly, self-service BI can contribute to application ROI for enterprises developing applications by increasing adoption and improving operational efficiencies. This shows the potential of the market's growth in data monetization solutions.
• The broad and emerging applications of data monetization strategies enable businesses to generate new revenue streams. This can be achieved through selling data directly to third parties, creating data-driven products or services, or using data to enhance existing offerings. This is expected to fuel the adoption of data monetization solutions across all end-user segments in the future.
• As online businesses expand, including expanding online banking and e-commerce companies, they may implement data monetization solutions to analyze customer purchasing patterns and preferences and personalize product recommendations. This is expected to increase sales and customer satisfaction, driving the market’s growth during the forecast period.
• The increasing number of internet users worldwide, in line with the growth of connected devices and software-based solutions in businesses, is supporting the generation of customer data in various end-user segments, creating an opportunity for the market’s growth. For instance, in November 2023, the International Telecommunication Union reported that internet users reached 5,400 million worldwide. This growth may support online data generation and fuel the market’s growth during the forecast period.
• The privacy and legal implications of releasing data to outside entities are the primary concerns with data monetization projects. Therefore, users must carefully review their rights and ownership of the data they may have acquired from their customers. Depending on the geography, the industry, and the specific customer contracts signed at the moment of data acquisition, these regulatory policies may require considerable resources and expertise. This presents challenges for organizations seeking to monetize their datasets.

Data Monetization Market Trends

Large Enterprises to Hold Major Market Share

North America Holds Significant Market Share

Data Monetization Industry Overview

The data monetization market is competitive due to the presence of small and medium-sized enterprises and global players. Data monetization is used in various industries to provide vendors with growth opportunities, attracting new players into the market and driving competition among vendors. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage. Some key market players include Accenture PLC, Adastra Corporation, Cisco Systems Inc., Dawex Systems SAS, and Emu Analytics Ltd., among others.

• In May 2024, Accenture and Oracle joined forces to invest in state-of-the-art generative AI solutions, tools, and training resources. These strategic investments aim to enable organizations to unlock the full potential of their data, propelling them toward unprecedented growth and fostering a culture of continuous innovation. By combining their expertise, Accenture and Oracle are dedicated to helping clients across diverse industries reinvent their businesses through the adoption of generative AI at scale.
• In February 2024, Dawex, Schneider Electric, Valeo, CEA, and Prosyst collaborated to establish Data4Industry-X, the Reliable Data Exchange Solution for the Industrial Sector. Primarily focusing on the automotive and power generation industries, Data4Industry-X strives to enhance competitiveness and minimize the environmental impact of prominent multinational industrial corporations operating in various countries.

Data Monetization Market Leaders

1. Accenture PLC

2. Adastra Corporation

3. Cisco Systems, Inc.

4. Dawex Systems SAS

5. Emu Analytics Ltd.

*Disclaimer: Major Players sorted in no particular order

Data Monetization Market Report - Table of Contents

1. 1. INTRODUCTION

   1. 1.1 Study Assumptions and Market Definition

   2. 1.2 Scope of the Study

2. 2. RESEARCH METHODOLOGY

3. 3. EXECUTIVE SUMMARY

4. 4. MARKET INSIGHTS

   1. 4.1 Market Overview

   2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Buyers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitutes

      5. 4.2.5 Intensity of Competitive Rivalry

   3. 4.3 Assessment of Impact of COVID-19 on the Data Monetization Market

5. 5. MARKET DYNAMICS

   1. 5.1 Market Drivers

      1. 5.1.1 Rapid Adoption of Advanced Analytics and Visualization

      2. 5.1.2 Increasing Volume and Variety of Business Data

   2. 5.2 Market Restraints

      1. 5.2.1 Interoperability With Existing Systems

      2. 5.2.2 Varying Structure of Regulatory Policies

   3. 5.3 Market Challenge

      1. 5.3.1 Increasing Complexities in Data Structures and Availability of Consistent Data

6. 6. MARKET SEGMENTATION

   1. 6.1 By Organization Size

      1. 6.1.1 Small and Medium-sized Enterprises

      2. 6.1.2 Large Enterprises

   2. 6.2 By End-user Industry

      1. 6.2.1 BFSI

      2. 6.2.2 Telecom and IT

      3. 6.2.3 Manufacturing

      4. 6.2.4 Healthcare

      5. 6.2.5 Retail

      6. 6.2.6 Other End-user Industries

   3. 6.3 By Geography***

      1. 6.3.1 North America

         See Also

         5G Market Size, Share, Trends, Growth and Forecast to 2032 | MRFR

      2. 6.3.2 Europe

      3. 6.3.3 Asia

      4. 6.3.4 Australia and New Zealand

      5. 6.3.5 Latin America

      6. 6.3.6 Middle East and Africa

7. 7. COMPETITIVE LANDSCAPE

   1. 7.1 Company Profiles*

      1. 7.1.1 Accenture PLC

      2. 7.1.2 Adastra Corporation

      3. 7.1.3 Cisco Systems Inc.

      4. 7.1.4 Dawex Systems SAS

      5. 7.1.5 Emu Analytics Ltd

      6. 7.1.6 Thales Group

      7. 7.1.7 Google LLC (Alphabet Inc.)

      8. 7.1.8 IBM Corporation

      9. 7.1.9 Infosys Limited

      10. 7.1.10 Ness Technologies Inc.

      11. 7.1.11 NetScout Systems Inc.

      12. 7.1.12 Openwave Mobility Inc. (ENEA)

      13. 7.1.13 SAP SE

      14. 7.1.14 SAS Institute Inc.

8. 8. INVESTMENT ANALYSIS

9. 9. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

***In the final report, Asia, Australia, and New Zealand will be studied together as 'Asia Pacific'

Data Monetization Industry Segmentation

Data monetization involves identifying and marketing data or data-based products to generate monetary value. The core of data monetization is data products, i.e., products based on raw, refined, or analyzed data. The study discusses vendors' tools and solutions for data monetization and recent innovations. The market is defined by the revenue accrued from the various data monetization types that are being used in various end-user industries across geographical regions.

The data monetization market is segmented by organization size (small and medium-sized enterprises and large enterprises), end-user industry (banking, financial services, insurance, telecom and IT, manufacturing, healthcare, and retail, and other end-user industries), geography (North America, Europe, Asia-Pacific, Australia and New Zealand, Latin America, and Middle East and Africa). The report offers market forecasts and size in value (USD) for all the above segments.

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Data Monetization Industry Report

The global data monetization market, driven by the demand for data-driven decision-making and advanced analytics, is witnessing significant growth. Organizations across healthcare, telecommunications, retail, and financial services are embracing data monetization to generate revenue from their data assets. The adoption of cloud-based solutions is enhancing the management and analysis of vast data volumes, enabling enterprises to improve operational efficiency, customer engagement, and create new revenue streams. Personalized marketing and strategic use of customer data are propelling the market further, with AI playing a crucial role in innovative data processing methods. Despite challenges like data quality and organizational capabilities, the focus on secure and compliant data monetization strategies is critical for companies aiming to succeed in the digital economy. According to Mordor Intelligence™ Industry Reports, the data monetization market is poised for robust growth, with detailed analysis and forecasts available in their free report PDF download. This presents a lucrative opportunity for any data monetization company looking to capitalize on the expanding market.

• Data Monetization Market Size
• Data Monetization Market Share
• Data Monetization Market Trends
• Data Monetization Companies

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