The global data monetization market size was valued at USD 2.60 billion in 2022 and is anticipated to grow at a CAGR of 25.6% over the forecast period. Data monetization is the sharing of data between companies. It is using data to create new revenue-generating streams. Data monetization is of two types direct data monetization and indirect data monetization. Direct data monetization is the selling of raw data. In this type, companies generate revenue directly by selling the data. Direct data monetization involves selling a company’s analysis, bartering or trading data, and creating one or many APIs. Companies use their data to create a measurable impact in terms of indirect monetization. Indirect monetization helps companies reduce costs, improve productivity and efficiency, develop new products or services, and discover new customer types or business categories, among others.
Several factors, such as rising enterprise data volume, awareness of data monetization, and external data sources, are anticipated to drive market growth. Furthermore, growing usage of data processing and artificial intelligence, adoption of data-driven decision-making approaches, and advancements in big analytics, among others, is expected to fuel the growth over the forecast period.
Several companies are inclined toward data monetization since it provides data usage optimization, customer loyalty, reduced operating costs, improved compliance, boosts profitability, strengthens partnerships, and enhances customer experience and understanding. Similarly, data monetization also adds maximum value to products and services, streamlines planning and decision-making activities, improves collaboration and data sharing amongst external and internal stakeholders and increases targeted product/ service marketing and propositions. Such factors are anticipated to drive the market growth over the forecast period.
Data monetization is an umbrella term that covers additional revenue that an organization generates from the information it holds on its customers. It is expected to be vital to an organization's business since it focuses on upselling services, supporting customer care, and reducing churn. It is also crucial for business intelligence support for several commercial opportunities, such as mobile marketing. It does this by providing selling data as an insight.
Data monetization entails generating high revenue from available data sources. It controls data generated through sensors and electronic devices and business operations. This data creates useful insights for companies to create new business categories. The emergence of advanced technologies such as artificial intelligence, the Internet of Things (IoT), big data, and cloud computing has paved the way for market growth. The ability of data monetization to synthesize and incorporate thousands of data, IoT records, and the ability to apply artificial intelligence and advanced analytics has encouraged several players to invest in data monetization.
Furthermore, the rising shift of companies towards data monetization has also accelerated cloud and cloud-based technology development. Additionally, storing and maintaining a massive amount of data on physical storage mediums or hardware is expensive. In this situation, cloud-based solutions offer huge computing and storage power. It has created an opportunity for cloud-based data monetization. Additionally, cloud technology promotes companies to share real-time data. Also, cloud computing is expected to pave the way for subscription-based information-sharing platforms, resulting in market growth.
The analytics-enabled platform as a service segment accounted for the largest revenue share of around 37.7% in 2022 and is also expected to grow at the fastest CAGR of 27.5% over the forecast period. It is attributable to the ability of the method to provide flexible data monetization to customers. This method comes pre-installed with BI and analytics tools and is implemented to give consumers insights in real-time, along with high versatility. Additionally, it is compatible with all cloud-based solutions, supports wide arrays of data formats, and can be deployed on-premises and cloud. However, this method demands expert support for maintenance and installation.
The embedded analytics segment is expected to witness a significant CAGR of 26.0% over the forecast period. Embedded analytics can integrate existing applications with additional features such as data visualization, dashboard reporting, and analytics. This method accelerates time to market, creates customized embedded analytics solutions, and lowers TCO. Similarly, insight as a service combines of external and internal data sources that use analytics to provide data insights. This method can support specific datasets and provides updated data to customers.
The large enterprises segment accounted for the largest revenue share of 67.6% in 2022. It is attributable to the rising presence of large organizations with global dominance. The data monetization market includes companies with a strong foothold in retail, BFSI, and telecommunication verticals. Furthermore, large enterprises have customers present across the globe and the value chain. They have adequate technical expertise, business strategies, and capital. There is a growing requirement for advanced technologies such as cloud computing and Artificial Intelligence (AI) in the market. Large enterprises can easily invest in such new technologies to maintain business continuity.
The SMEs segment is expected to grow at the fastest CAGR of 29.3% during the forecast period. The rising adoption of data monetization by SMEs to sustain in the competitive market is expected to power the segment growth over the forecast period. Furthermore, SMEs are expected to face resource shortages, resulting in business complexities and the increased need to optimize costs. In this situation, the rising presence of cloud-based data monetization is expected to play a pivotal role in ensuring reduced operations costs and increased efficiency, thereby positively affecting segment growth.
The BFSI segment held the largest revenue share of 20.9% in 2022 and is also expected to grow at the fastest CAGR of 27.0% over the forecast period. It is attributable to the growing presence of most data-rich businesses in the banking sector. According to industry experts in banking and financial security companies, BFSI organizations manage over 3.8 petabytes of data. It has created a massive demand for data monetization in the BFSI segment. Furthermore, data monetization in BFSI accelerates customer interactions and operating income by over 50%. Such factors are anticipated to power market growth over the forecast period.
The telecommunications & IT segment is expected to witness a significant CAGR of 26.6% over the forecast period owing to the increasing amount of data generated by these companies, the growing demand for data-driven decision-making, the increasing adoption of cloud computing, and the growing popularity of big data analytics. These factors make it easier for telecom and IT companies to store, analyze, and monetize their data.
The healthcare segment is anticipated to witness substantial growth over the forecast period. The rising inclination of healthcare companies toward data monetization is anticipated to fuel market growth. Healthcare companies are launching programs focused on monetizing patients’ medical data by providing access to innovators and researchers. It has positively impacted the adoption of data monetization in the healthcare sector.
North America dominated the market and accounted for the largest revenue share of 32.9% in 2022. It is attributable to the presence of major players in the region. Furthermore, the region’s growth is highly influenced by the U.S. Companies based in the U.S. and Canada are investing and rapidly adopting advanced technologies such as cloud computing, big data, and analytics. It gave North America the first-mover advantage. Also, rising demand among enterprises to automate decision-making processes, optimized infrastructure costs, and technology enhancements have significantly affected regional growth.
Asia Pacific is expected to grow at the fastest CAGR of 27.6% during the forecast period. The growing adoption of cloud, IoT, and big data solutions in the region is expected to fuel the region's market growth over the forecast period. The rising advancements in networking technologies, the rapid boom of e-commerce, increasing manufacturing and the automotive sector, and increasing regulatory mandates have positively impacted regional growth.
The key players are involved in new product developments, agreements, product launches, mergers and acquisitions, and expansion strategies to improve their market penetration. For instance, in April 2019, Accenture announced extending of its partnership with Pitney Bowes Inc. This collaboration has enabled Accenture to use and implement Pitney Bowes Inc.’s data assets to introduce advancement in existing solutions and create new intelligent solutions for its clients. Additionally, this collaboration is also expected to widen the advanced analytics functionality of Pitney & Bowes. Companies are also entering new market areas to expand their product offerings and market presence. For example, in September 2019, IBM Corporation announced its plan to invest in automotive data monetization. It is expected to create new opportunities and maintain its cloud computing presence. The following are some of the major participants in the global data monetization market:
Cisco Systems, Inc.
Revelate Data Monetization Corp.
In November 2022, Fosfor, Larsen & Toubro Infotech’s data products division, announced that it had been recognized as a Snowflake Ready Technology Validation Partner. By receiving this validation, Fosfor's dataOps product, decision Intelligence product, Spectra, and Lumin, have proven they follow Snowflake's best practices for performance, reliability, and security, which help enterprises to solve DataOps challenges.
In November 2022, Wipro launched an automation solution, Wipro Data Intelligence Suite. It focuses on developing data estates, including data pipelines, stores, and visualizations, operating on Amazon Web Services (AWS). It helps companies in speeding data and cloud monetization.
In September 2022, SAS declared SAS Viya on Azure as a powerful data analytics platform available on the Microsoft Azure marketplace. This new offering makes it easier than ever for businesses to gain insights from their data by combining the scalability and flexibility of Azure with the power of SAS Viya.
In March 2022, Domo, Inc. announced Data Apps, a new low-code data tool designed to make data-driven decisions and actions accessible to everyone in an organization. It makes Data Apps more accessible to a wider range of users than traditional BI tools, often specifically designed for executives, managers, and data analysts.
In January 2022, Revelate Data Monetization Corp. formerly known as TickSmith announced a $20 million Series A funding investment to promote its innovative data-selling platform. Unlike any other product now available, its data web store is a B2B SaaS platform offering an e-commerce data shopping experience by offering all the tools required to prepare, manage, package, and monetize data.
Market size value in 2023
USD 3.25 billion
Revenue forecast in 2030
USD 16.05 billion
CAGR of 25.6% from 2023 to 2030
Base year for estimation
2018 - 2021
2023 - 2030
Revenue in USD million and CAGR from 2023 to 2030
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Method, enterprise size, vertical, region
North America; Europe; Asia Pacific; Latin America; & MEA
U.S.; Canada; UK; Germany; France; China; Japan; India; Australia; South Korea; Brazil; Mexico; Saudi Arabia; South Africa ;UAE
Key companies profiled
Accenture; Adstra; Cisco Systems, Inc.; Gemalto NV; IBM Corporation; Infosys Limited; Comviva; Monetize; Reltio; SAP SE.; Domo, Inc.; Revelate Data Monetization Corp.
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This report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global data monetization market on the basis of method, enterprise size, vertical, and region:
Method Outlook (Revenue in USD Million, 2018 - 2030)
Data as a service
Insight as a service
Analytics-enabled platform as a service
Enterprise Size Outlook (Revenue in USD Million, 2018 - 2030)
Vertical Outlook (Revenue in USD Million, 2018 - 2030)
E-commerce & retail
Telecommunications & IT
Energy & utilities
Regional Outlook (Revenue in USD Million, 2018 - 2030)
Middle East and Africa
b. The global data monetization market size was estimated at USD 2.60 billion in 2022 and is expected to reach USD 3.25 billion in 2023.
b. The global data monetization market is expected to grow at a compound annual growth rate of 25.6% from 2023 to 2030 to reach USD 16.05 billion by 2030.
b. North America dominated the data monetization market with a share of 32.8% in 2022. This is attributable to the rising demand among enterprises to automate decision-making processes, optimized infrastructure costs, and technology enhancements that have significantly affected regional growth.
b. Some key players operating in the data monetization market include Accenture; Adstra; Cisco Systems, Inc.; Gemalto NV; IBM Corporation; Infosys Limited; Comviva; Monetize; Reltio; SAP SE.; Domo, Inc.; and Revelate Data Monetization Corp.
b. Key factors driving the data monetization market growth include rising enterprise data volume, awareness of data monetization, and external data sources, are anticipated to drive market growth. Furthermore, growing usage of data processing and artificial intelligence, adoption of data-driven decision-making approaches, and advancements in big analytics, among others, is expected to fuel the growth over the forecast period.
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