Data Monetization Market by Component (Software and Services); Organization Size (Large Enterprises and SMEs); Application (Sales & Marketing, Supply Chain Management, Operations and Finance) and Industry (Manufacturing, BFSI, E-Commerce & Retail, Travel & Logistics, IT & Telecom, and Healthcare): Global Market Size Estimates and Forecast (2022-2030)

The data monetization market crossed US$ 3.0 billion mark in 2022 and is expected to hit US$ 13.46 billion by 2030, recording a CAGR of 20.2% during the forecast period.

The data monetization market has been significantly growing with rising data generation globally.

Data monetization offers enterprises an alternate stream of revenue generation, thus boosting overall revenue generation. The rising adoption of digital transformation by enterprises of all industry verticals has led to a surge in data generation. Most enterprises generate and collect multivariate data, which may or may not aid the organization. Maintaining such data while complying with different rules and regulations is mostly resource-intensive. Thus, most enterprises leverage such data for added revenue generation, which can support the business better. Such actors are driving the data monetization market growth.

Additionally, data-driven business models allow businesses to discover new customers and business opportunities. The generated data is utilized to improve the enterprise's performance while also identifying cost-optimizing opportunities. Such trends are positively impacting data monetization market size.

The data monetization market is segmented within the report into component, application, industry, and geography. By component, the data monetization market is bifurcated into software and services. The data monetization market is bifurcated by organization size into large enterprises and SMEs. Based on application, the data monetization market is segmented into sales & marketing, supply chain management, operations, and finance. By industry, the data monetization market is segmented into manufacturing, BFSI, e-commerce & retail, travel & logistics, IT & telecom, and healthcare. Geographically, the data monetization market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Indirect selling is expected to empower the growth of customer loyalty.

Data monetization can be defined as the process of using data to obtain measurable commercial benefits. The data monetization market deals with two types of processes, direct and indirect. In the direct method, third parties are provided access to an enterprise’s data directly. It can be in raw format or can be transformed into analysis and insights. Such data may comprise contact information of business prospects and future trends impacting purchases, among others. Indirect selling may include providing customers access to different insights, which can aid them in deriving better growth opportunities. It can be offered as a value-add on or new tier of service, thus enhancing customer loyalty. Indirect selling allows enterprises to gather better insights into how their customers are utilizing their products. Such trends are expected to grow multifold in the future, promoting the data monetization market.

The growing interest in data monetization amongst SMEs is accelerating the data monetization market growth.

Digitalization is opening new opportunities for SMEs to adopt advanced solutions, and there is rising adoption of digital transformation amongst SMEs. As SMEs are focused on simplifying operations and reducing operational costs, there is a significant rise in demand for data monetization. Rising digital transformation amongst SMEs is leading to heightened data generation. Pandemic-related business disruptions and losses have been promoting monetization of such generated data for recuperating from losses. Thus, there is a heightened demand for data monetization solutions and services amongst SMEs. Such trends are expected to promote data monetization market growth.

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Recent strategic developments in the data monetization market

The data monetization market has undergone several significant developments, and a few of these have been mentioned below:

• In January 2022, Optiva, Inc. and Google Cloud entered into a multi-year strategic partnership. The partnership was aimed at aiding telecom operators and service providers to better adopt digital transformation.
• In August 2021, Adastra and PaymentComponents announced a partnership through which they plan to offer advanced open banking and payment solutions in the US and Canada. The combined strengths of Adastra and PaymentComponents can offer their customers exclusive solutions that they can take to market effectively and boost the latter’s position as a comprehensive fintech solutions provider in the region.

The data monetization market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Accenture PLC, Adastra Corporation, Cisco Systems, Inc., IBM Corporation, Infosys Limited, Monetize Solutions, Inc., Optiva Inc., Reltio, Inc., SAP SE, and Thales Group are among the prominent players operating in the data monetization market.

Target audience for the report:

• Data monetization software providers
• Data monetization-related service providers
• Data driven enterprises
• Data brokers
• Data monetization-related associations, organizations, forums, and alliances
• Government bodies, such as regulating authorities and policy makers
• Venture capitalists, private equity firms, and start-up companies
• Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the data monetization market has been segmented on the basis of:

• Component:
  • Solutions
  • Services
• Organization Size
  • Large Enterprises
  • Small & Medium-Sized Enterprises
• Application
  • Sales & Marketing
  • Supply Chain Management
  • Operations
  • Finance
• Industry
  • Manufacturing
  • BFSI
  • E-Commerce & Retail
  • Travel & Logistics
  • IT & Telecom
  • Healthcare
• Region
  • North America
  • Europe
  • Asia Pacific (APAC)
  • South & Central America
  • Middle East & Africa
• Companies profiled
  • Accenture PLC
  • Adastra Corporation
  • Cisco Systems, Inc.
  • IBM Corporation
  • Infosys Limited
  • Monetize Solutions, Inc.
  • Optiva Inc.
  • Reltio, Inc.
  • SAP SE
  • Thales Group