Data monetization benefits the company by allowing it to maximise income while lowering expenditures. New trends such as IoT and big data have fueled the expansion of the Data Monetization Market.
JERSEY CITY, N.J., Oct. 5, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Data Monetization Market" By Data Type (Customer Data, Product Data, Financial Data, Supplier Data), By Deployment (Cloud, On-Premises), By Vertical (BFSI, Government & Defense, Logistics, Media & Entertainment, Retail), and By Geography.
According to the extensive research done by Verified Market Research experts, the Data Monetization Market size was valued at USD 1.61 Billion in 2019 and is projected to reach USD 5.50 Billion by 2027, growing at a CAGR of 16.7% from 2020 to 2027.
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Browse in-depth TOC on "Data Monetization Market"
202 - Pages
126 - Tables
37 - Figures
Global Data Monetization Market Overview
Data monetization is the process of extracting quantifiable economic value from publicly accessible data sources or even converting corporate data into cash. The currency can take the form of data currency as well as physical money, which can be used for bartering or to improve goods and services. Data generated by corporate operations, available exogenous data or content, as well as data gathered by electronic devices and sensors taking part in the internet of things are all used in data monetization (IoTs).
The technique of deriving measurable economic benefits from available data sources is known as data monetization. It is defined as converting corporate data into currency. This can also take the form of data currency, which can be used as a means of trading or to improve a product or service. Exogenous data, corporate operations, data acquired by electronic devices, and data from the Internet of Things all generate data (IoT). The considerable increase in the number of data generated by organisations, the growing necessity of generating new revenue, and technological advancements in big data and analysis are driving the expansion of the Data Monetization Market. Furthermore, increased awareness of the potential benefits of data monetization is having a favourable impact on the market; presently, massive amounts of unstructured data are providing rewarding chances to the Data Monetization Market.
Key Players
The major players in the market are 1010data, Inc., Accenture Plc., Adastra Corporation, Cisco Systems, Inc., Dawex, Elevondata, Emu Analytics, Gemalto, iConnectiva, Infosys Limited.
Verified Market Research has segmented the Global Data Monetization Market On the basis of Data Type, Deployment, Vertical, and Geography.
- Data Monetization Market, by Data Type
- Customer Data
- Product Data
- Financial Data
- Supplier Data
- Data Monetization Market, by Vertical
- Banking and Financial Services
- Government and Defense
- Logistics
- Media and Entertainment
- Retail
- Others
- Data Monetization Market, by Deployment
- Cloud
- On-Premises
- Data Monetization Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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