Security and privacy concerns are expected to impede the data monetization market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, August 1, 2024 /EINPresswire.com/ -- According to a report by Allied Market Research titled "Data Monetization Market," the market was valued at $2.1 billion in 2020 and is projected to reach $15.4 billion by 2030, with a CAGR of 22.1% from 2021 to 2030.

Data monetization refers to the process of generating revenue from available data sources. It involves leveraging data to create value, which can be achieved through various means such as selling data, using data to enhance products and services, or creating new data-driven business models.

The market growth is primarily driven by advancements in industrial-grade digital technology, a growing preference for cloud-based data monetization software, and the rising need for enhanced supply chain and customer relationship management. However, growth is hindered by insufficient IT infrastructure in underdeveloped countries and increasing security and privacy concerns.

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In terms of industry verticals, the IT & telecommunication segment led the market in 2020 and is expected to maintain this trend during the forecast period. This is due to the significant data growth in the telecommunication and IT sectors and the need to generate additional revenue streams through data monetization services. Meanwhile, the retail and e-commerce segment is anticipated to experience the highest growth, driven by the adoption of data monetization solutions to sell data or partner with brands for data analysis to generate additional revenue. Small and medium-sized businesses are also increasingly focusing on data monetization strategies to create new revenue streams. Notable companies such as Google, Amazon, LinkedIn, and Netflix are prominent in monetizing data for revenue generation and market share growth.

Regionally, North America dominated the market in 2020 and is expected to retain its leading position, as banks and financial institutions in the region use data to sell new services and create new revenue streams. The Asia-Pacific region is projected to grow at the fastest CAGR in the coming years, driven by telecom service providers recognizing the value of collected data and monetizing it to improve their profitability-per-user ratio.

Regional Analysis:

1. North America: Leading region due to advanced technological infrastructure and high adoption of data-driven decision-making.

2. Europe: Growing emphasis on data privacy and protection regulations impacts the market dynamics.

3. Asia-Pacific: Rapid digitization and increasing adoption of IoT and cloud services drive market growth.

4. Rest of the World: Emerging markets showing potential with increasing focus on digital transformation.

Key market players profiled in the report include Accenture, SAP SE, Adastra Corporation, Monetize Solutions, Inc., VIAVI Solutions Inc., ALC, Reltio, Optiva, Inc. (Redknee Solutions Inc.), Cisco Systems, Inc., and Mahindra ComViva. The report provides market trends, analysis, and future estimations to identify investment opportunities.

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The COVID-19 pandemic has significantly impacted various industries globally, with sectors such as aviation, automotive, tourism, oil & gas, education, and manufacturing experiencing a decline in market share. However, the pandemic has also led to growth in the volume of enterprise data, advancements in big data and analytics solutions, and an increased focus on generating new revenue streams, security, and privacy concerns. This has raised awareness about the potential benefits of data monetization and increased its adoption among service providers, creating opportunities for market growth.

The data monetization market is evolving rapidly as organizations increasingly recognize the value of their data assets. Key trends include the rise of data-as-a-service (DaaS) models, where companies provide data insights and analytics as a product. This trend is driven by advancements in big data technologies and artificial intelligence, enabling businesses to extract actionable insights from vast amounts of information. Additionally, there's a growing emphasis on privacy and data governance, with regulations such as GDPR and CCPA influencing how data is collected, stored, and used. Companies are also exploring partnerships and collaborations to leverage data from diverse sources, enhancing their offerings and driving revenue growth. The market is expected to see continued expansion as businesses adopt more sophisticated tools and strategies to capitalize on their data assets and stay competitive in an increasingly data-driven economy.

Key findings from the study include:

1. The software segment generated the highest revenue in 2020.

2. The on-premises segment generated the highest revenue by deployment type in 2020.

3. Large enterprises generated the highest revenue by enterprise size in 2020.

4. The IT and telecommunication segment dominated the market by industry vertical in 2020, with the retail and e-commerce segment expected to exhibit significant growth during the forecast period.

5. North America led the market by region in 2020, with Asia-Pacific expected to witness significant growth in the coming years.

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Other Reports:

1. Synthetic Data Generation Market

2. Data Center Robotics Market

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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