COVID-19:DATA MONETIZATION MARKET TO REACH USD 7.5 BILLION BY 2027 | CAGR 19.9% — FORENCIS RESEARCH
Global Data Monetization Market: Key Highlights
- According to the new market research report “Data Monetization Market by Deployment Type (Cloud, On-Premises), Data Type (Customer Data, Product Data, Financial Data and Supplier Data), Services (Support and Maintenance, Implementation and Integration and Consulting), by Enterprise Size (Large Enterprise and Small and Medium-Sized Enterprises (SMEs)), by End-User (BFSI, Telecom, Retail, Defense, Transportation, Healthcare, Energy, Manufacturing and Others), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) — Global Forecast (2020 to 2027)”, the global Data Monetization Market is estimated to reach USD 7.5 Billion by 2027 at a CAGR of around 19.9% during the review period.
- Data monetization helps to leverage the data generated with the business operations, and data collected through electronic devices and sensors.
- Moreover, it also helps to enhance data sharing as well as collaboration between internal and external stakeholders which may lead to improve the growth of the market in the forecast period.
Global Data Monetization Market: Key Market Dynamics
- With the increasing adoption for the big data and Internet of Thing (IoT) is witness to boost the growth of the data monetization market in the projected period. Whereas, it can be benefited to the businesses by providing the real-time services.
- As per IBM Corporation report, more than 20% of companies surveyed have an enterprise wide big data strategy.
- One of the major key concern of the data monetization market is the quality and complexities in data which may hamper the market growth. Whereas, sharing of data across various industries and integrating the data products with the systems may lead to reduce the quality of data.
- Growing demand for Artificial Intelligence (AI) helps to enhance services as well as revenues of the companies which play a key drive to boost the growth of data monetization market in the forecast period.
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Global Data Monetization Market: Regional Overview
- North America:
The North America is expected to account largest market growth in terms of revenues for the data monetization. Whereas, the technological growth such as developments of products has also contribute an opportunities for the market growth in the region. With the ongoing rapid adoption of technologies such as cloud as well as big data in the various industries will also grow the market. In 2017, the Mnubo partnered with Dawex to deliver the industry’s first IoT Analytics and Monetization Solution. These developments and mergers may also play a key role in drive the growth of the market in the forecast period.
Hence, these trend will lead to enhance the growth of the data monetization market in the projected period.
The region is witness to be one of the major player for the adoption of new technologies for the growth of financial sector as well as the government services. Whereas, Japan, China and India has also taking initiatives for the digitalized the countries and improve the economic development of the region. The deployment of big data, Internet of thing as well as artificial intelligence in the region is excepted to fuel the data motorization market in the forecast period.
Hence the initiative taken by the Chinese government, of Made in China 2025 will also lead to boost the market in the projected period.
Global Data Monetization Market: Key Players Overview
Oracle is an American multinational corporations, which sells database software as well as cloud systems. Whereas, in 2019, company announced a new cloud-native deployment option for the Billing and Revenue Management (BRM) which enhances the deployment model to provide a modern monetization solution for capturing opportunities. Also, the latest version of the BRM solution helps to support the upcoming 5G enabled use cases for CSPs.
Microsoft is an American multinational technology company, which supports, and sells computer software. Whereas, the Microsoft Azure Machine Learning Studio is join drag-and-drop tool which help to build, test and deploy predictive analytics solutions for the data. In 2019, company has announced a new Microsoft Azure service to enhance the organizations in sharing their internal data.
Hence, the company also enhance the services for the user for sharing data for comply with the privacy policies and regulations.
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