Data Monetization: Enterprises across the globe are using this key to unlock and unleash the complete potential of data…are you?
The report published by Knowledge Sourcing Intelligence titled “Data Monetization Market - Forecasts from 2018 to 2023” studies the various factors affecting the demand for data monetization solutions and services among end-users worldwide. The market has been segmented by offering (solution and services), by deployment model (On-premise and cloud), by enterprise size (small, medium and large), by end-user industry (retail, manufacturing, automotive, BFSI, and media and entertainment, others).
In addition, the demand for data monetization solutions and services has been estimated across all major geographies namely North America, South America, Europe, Middle East and Africa and the Asia Pacific. To give a clearer view of this market across these geographies, the regional market is further segmented into countries which account for a significant share in the market. The growth of this market is being driven by growing competition across industries, which is pushing industry players towards seizing every opportunity of revenue generation available to them. Continuous digitization of business processes has been increasing the volume of data generated by them every day. Besides analyzing these huge volumes of data using various Big Data analytics solutions, many companies are monetizing it to generate more revenue. This is increasing the demand for data monetization solutions and services, thus boosting the growth of the market. Furthermore, the increasing need among players across many industries to better know their existing and potential customers in order to design better growth strategies is also driving the demand for data monetization solutions. However, stringent regulations regarding the use of personal information of customers in many regions will continue to hinder the growth of the market over the forecast period.
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By enterprise size, large enterprises hold the lion’s share in the market and will continue to dominate this segment throughout the forecast period. However, the market among medium enterprises is projected to grow at the highest CAGR over this period.
Among enterprises of all sizes, large enterprises hold the largest share in this market on account of huge volumes of data generated by them every day. Availability of enough budget to adopt data monetization solutions or services and securely monetize the data generated by their business processes, while ensuring compliance to regulations regarding data security, is also supporting the market growth in this sub-segment. Since these trends to remain unchanged throughout the projected period, large enterprises will continue to dominate this segment. Medium enterprises can be seen showing the highest growth rate in this market as the potential of data monetization continues to be realized by them. Small enterprises can also be seen showing solid growth in this market over the forecast period.
Across all major geographies, Asia Pacific holds the largest share in this market while Europe and North America are projected to grow at the highest and second highest growth rates respectively.
Surprisingly, Asia Pacific dominates this segment as enterprises in this region have been showing huge focus towards monetizing their data. The market in Europe is projected to grow at the highest CAGR over the projected period. This region is followed by North America, which is poised to grow at the second highest CAGR over the forecast period. Other regions like South America and the Middle East and Africa are also showing a decent growth in this market.
This report also includes a study of strategies and product portfolios of some of the leading companies in the data monetization market. Major companies profiled as a part of this report are 1010data, Accenture, Adastra, ALC, Dawex Systems, Elevondata, Emu Analytics, Gemalto, Google, IBM, Infosys, Monetize Solutions, SAP and SAS.
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting organization based out of India. KSI publishes research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with whole market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.
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