Data Monetization Market
The rapid adoption of advanced analytics and visualization solutions is driving the market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, November 9, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Data Monetization Market to Grow at a CAGR of 22.1% to Reach USD 15.4 Billion by 2030.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
Surge in volume of enterprise data, technological advancements in big data & analytics solutions, and rise in importance of generating new revenue streams from data volumes drive the growth of the data monetization market. During the Covid-19 pandemic, many buyers preferred e-commerce platforms for shopping. This led to generation of massive amount of data. So, market players tapped on monetization opportunities.
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The report offers detailed segmentation of the global data monetization market based on component, deployment type, enterprise size, industry vertical, and region.Based on component, the software segment accounted for the highest share in 2020, contributing to more than two-thirds of the total share, and is projected to continue its lead position during the forecast period. However, the services segment is expected to witness the largest CAGR of 24.6% from 2021 to 2030.
Based on industry vertical, the IT & telecommunication segment contributed to the largest share of the global data monetization industry in 2020, and is expected to maintain its leadership status during the forecast period. However, the retail & e-commerce segment is estimated to manifest the fastest CAGR of 27.0% from 2021 to 2030.
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Based on region, North America held the highest share in 2020, accounting for more than one-third of the total share, and is projected to continue its dominant share by 2030. However, Asia-Pacific is projected to portray the largest CAGR of 25.6% during the forecast period.
Leading players of the global data monetization market analyzed in the research include Accenture, Adastra Corporation, Cisco Systems, Inc., SAP SE, VIAVI Solutions Inc., Monetize Solutions, Inc., Reltio, ALC, Optiva, Inc. (Redknee Solutions Inc.), and Mahindra ComViva.
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Covid-19 Scenario:
• Many government organizations and FinTech market players focused on generating revenue streams by monetizing the data as changes in work culture and adoption of cloud infrastructure led to the continuous rise in the volume of enterprise data. This factor positively impacted the data monetization market during the Covid-19 pandemic.
• Moreover, many buyers preferred e-commerce platforms for shopping. This led to generation of a massive amount of data. So, market players tapped on monetization opportunities.
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