The Data Monetization Market: A Landscape of Emerging Opportunities

Data Monetization Industry Overview

The global Data Monetization Market was valued at approximately USD 3.24 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 25.8% from 2024 to 2030. Data monetization involves the exchange of data between organizations to generate new revenue streams. This can be categorized into two main types: direct and indirect data monetization. Direct data monetization includes the sale of unprocessed data, the commercialization of a company's analyses, data bartering or trading, and the development of application programming interfaces (APIs). Conversely, indirect monetization focuses on leveraging data to achieve tangible benefits such as cost reduction, enhanced productivity and efficiency, the creation of novel products or services, and the identification of new customer segments or business opportunities. For example, with user consent, Uber shares its ride data with companies in the food and retail sectors, enabling these businesses to identify promising locations for new establishments.

Several factors are expected to propel market growth, including the increasing volume of enterprise data, a growing understanding of data monetization's potential, and the availability of external data sources. Additionally, the rising application of data processing and artificial intelligence, the increasing adoption of data-driven decision-making strategies, and advancements in big data analytics are anticipated to further stimulate growth throughout the forecast period.

Detailed Segmentation:

• Method Insights

Embedded analytics segment is expected to witness a significant CAGR of 26.2% from 2024 to 2030. 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 external and internal data sources that use analytics to provide data insights. This method can support specific datasets and provide updated data to customers.

• Organization Size Insights

The SMEs segment is expected to grow at the fastest CAGR of 29.4% from 2024 to 2030. 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.

• Vertical Insights

The telecommunications & IT segment is expected to witness a significant CAGR of 26.7% from 2024 to 2030. 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.

• Regional Insights

The data monetization market in the U.S. is growing significantly at a CAGR of 23.1% from 2024 to 2030. Growing government focus on encouraging digitization across industries to improve the transparency of processes is creating a positive outlook for the U.S. market. Furthermore, advancements in emerging technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) are expected to drive the market growth in the region. In addition, various IT and telecom companies are shifting their businesses to Software-as-a-Service (SaaS) and Infrastructure-as-a-Service (IaaS) platforms in the U.S. to initiate remote operation management. This has bolstered the demand for system infrastructure software in the IT and telecom sectors in the region.

Gather more insights about the market drivers, restraints, and growth of the Data Monetization Market

Key Companies & Market Share Insights

Some of the key companies include Accenture, Cisco, and IBM Corporation, and others are some of the leading participants in the global data monetization market.

• Accenture provides technology solutions and professional services in areas such as network management and consulting. It operates through five business lines: Accenture Technology, Accenture Operations, Accenture Digital, Accenture Strategy, and Accenture Consulting. The company offers business process services, infrastructure services, security services, and cloud services under the Accenture Operations business line.
• Cisco Systems, Inc. specializes in developing and distributing hardware and software solutions. The company serves industries such as mining, oil and gas, smart buildings, retail, education, financial services, government, transportation, utilities, healthcare, insurance, and entertainment. It offers solutions across a range of technologies, including cloud, data center, network infrastructure, mobility, IoT, security, AI, and analytics and automation.

Key Data Monetization Companies:

The following are the leading companies in the data monetization market. These companies collectively hold the largest market share and dictate industry trends.

• Accenture
• Adstra
• Cisco Systems, Inc.
• Comviva
• Domo, Inc.
• Thales (Gemalto NV)
• Gulp Data
• IBM Corporation

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Recent Developments

• In February 2024, Gulp Data announced a partnership with Snowflake that enables organizations to explore, share, and unlock value from their data, providing data valuation, data-backed loans, and data monetization services.
• In December 2023, Thales completed the acquisition of Imperva. By providing the most comprehensive solutions for the broadest range of application, data security, and identity use cases, Thales and Imperva will help customers address cybersecurity challenges that are increasing rapidly in frequency, severity, and complexity.