Data monetization is the process of exploiting data for economic benefit and revenue generation. There are generally two methods of using data – Internal and External.
According to the research report, ‘Data Monetization Market: Current Analysis and Forecast (2021-2027)’, states that SAP SE, Microsoft Corporation, Qlik Tech International AB, TIBCO Software Inc., Oracle Corporation, Sisense Inc., Salesforce Inc., Accenture PLC, Virtusa Corp., and Infosys Limited are some of the significant players prevailing in this highly competitive industry. The consolidated report identifies different criteria through which the companies mentioned above exist and compete against each other. Some of the parameters are – a company overview, Production Capacity, Revenue, Key business offerings, financial performance, Risk analysis, recent developments, regional presence, and SWOT analysis.
Based on a careful examination of several aspects, the report is bifurcated into various segments and discussed below: –
On the basis of components, the market includes – software and service among which the software segment occupies the highest share in the industry and is anticipated to witness the same trend in the near future as software is the core component needed for any business.
On the basis of data type, the market covers – customer data, financial data, and others. The customer data segment dominates the global market as consumer information is of strategic importance for the development of businesses around the world.
On the basis of deployment, the industry covers – cloud and on-premises. The on-premises segment is the most preferable and holds a major share in the global market since privacy and security of confidential data are of prime concern for any business.
Based on organization size, the industry is divided into – large enterprises and SMEs in which large enterprises account for a considerable share globally due to the rising interest of enterprises to invest in emerging technologies.
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Based on industry, the sectors are – banking and financial services, information and communication technology, education, healthcare, retail and e-commerce, and others. The evolution and expansion of communication technologies is a prime factor responsible for the emergence of the information and communication technology segment as the market leader.
Adding on, the report contains an assessment of the market type by region concentrating on its sales, sales volume & revenue forecast. The regions mentioned are – North America (US, Canada, and Rest of North America), Europe (Germany, France, Spain, the UK, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea Rest of APAC), Rest of the World. The growth potential of the APAC region is the highest and is thus expected to generate maximum revenue during the review period.
The research report is equipped with various dimensions such as dynamics of the market both globally and region-wise, analysis of historical data, and technology development, strategies adopted by the above-named companies, and study of the market size (in terms of value and volume) based on demand and supply, market growth drivers, application details, market features, restraints, regional and industry wise investment opportunities and much more.
In the forthcoming years, the Data Monetization Market will prosper and is anticipated to increase at a substantial rate in terms of revenue in USD million by the end of the year 2027 at a double-digit CAGR during the evaluation period (2021-2027). This is because of factors like industries resorting to data-based solutions for critical decision-making, application of AI and many more.
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Ankur Gupta, Head Marketing & Communications