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Data Monetization Market size to grow by USD 4.18 billion from 2022 to 202, High adoption of data monetization by various platforms to boost market growth, TechnavioNEW YORK, March 5, 2024 /PRNewswire/ -- The data monetization market is expected to increase by USD 4,184.81 million from 2022 to 2027, registering a CAGR of 19.57%, according to the latest research report from Technavio. Discover IT Consulting & Other Services industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!
Vendor Landscape The data monetization market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Key Market Segmentation The market is segmented by type (solution and service), platform (BFSI, E-commerce and retail, media and entertainment, manufacturing, and others)
Regional Market Outlook By geography, the market is segmented by APAC, North America, Europe, South America, and Middle East and Africa)
Companies Mentioned
The high adoption of data monetization by various platforms The benefits of implementing data-driven decision-making for business growth and profit are being recognized and gaining popularity in the business world across multiple industries. Additionally, various other industries such as banking and healthcare can also leverage raw customer data and leverage insights to improve customer retention and loyalty. Hence, these benefits are expected to drive market growth during the forecast period.
Analyst Review In today's digital landscape, big data analytics has become more than just a buzzword; it's a crucial component for businesses aiming to thrive in a data-driven world. Among the myriad opportunities presented by this data deluge, it stands out as a strategic avenue for extracting tangible value from raw information. However, navigating this landscape requires adept data processing capabilities and robust organizational capabilities to overcome potential cultural barriers. At the heart of it lie sophisticated Business Intelligence (BI) tools, which serve as the cornerstone for uncovering actionable insights. These tools leverage cutting-edge technologies such as AI, IoT, machine learning, and deep learning to sift through vast datasets, identifying patterns and trends crucial for decision-making. With the right BI tools, organizations can optimize their solutions, ensuring efficient data structures and high data quality. To capitalize on this burgeoning market, businesses must engage with reputable vendors operating within the market ecosystem. Understanding the nuances of the market and identifying key customer data segments are essential steps towards success. Moreover, selecting the appropriate deployment type, whether on-premises or cloud, depends on factors such as organization size and vertical. For instance, within the telecommunication industry vertical, it presents unparalleled opportunities to leverage data generation and data collection processes. As highlighted by Internet Live Stats, the sheer volume of data generated daily underscores the urgency for effective strategies among enterprises. However, success in it requires more than just technological prowess; it necessitates a robust data governance program and a skilled workforce adept in talent management. The role of a Chief Data Officer (CDO) becomes pivotal in ensuring a strong return on investment (ROI) from it's initiatives. Analyzing it's trends and understanding market segmentation is imperative for targeted application analysis, whether in customer service, sales and marketing, or finance domains. Furthermore, insights into deployment analysis across cloud and on-premise solutions, along with a focus on enterprise type analysis differentiating between large enterprises and SMEs, provide a comprehensive view of the industry. In conclusion, the market promises exponential growth fueled by advancements in business intelligence, artificial intelligence (AI), internet of things (IoT), and cloud computing. By leveraging method insights such as analytics-enabled platform as a service, embedded analytics, and insight as a service, organizations can unlock the full potential of data monetization, driving innovation and sustainable growth. View Sample Report Related Reports The PLC software market is estimated to grow at a CAGR of 5.82% between 2022 and 2027. The market size is forecast to increase by USD 867.32 million. Furthermore, this report extensively covers market segmentation by deployment (cloud-based and on-premises), type (ladder logic, FBD, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The increasing industrial automation and digitization is one of the key factors driving market growth. The IT professional services market is estimated to grow at a CAGR of 9.09% between 2022 and 2027. The market size is forecast to increase by USD 461.56 billion. Furthermore, this report extensively covers market segmentation by type (project-oriented services, information technology outsourcing, IT is supporting and training services, and enterprise cloud computing services), end-user (large enterprises, small, and medium enterprises), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The growing digital transformation is one of the key factors driving market growth. Table of Contents 1 Executive Summary About US View original content to download multimedia:https://www.prnewswire.com/news-releases/data-monetization-market-size-to-grow-by-usd-4-18-billion-from-2022-to-202--high-adoption-of-data-monetization-by-various-platforms-to-boost-market-growth-technavio-302078288.html SOURCE Technavio |