New York, The global Data Monetization Market was valued at USD 1.6 Billion in 2022 and it is anticipated to grow up to USD 33.3 Billion by 2032, at a CAGR of 35.3% during the forecast period.
Data monetization is the process of converting data into a revenue-generating asset. This can be done through a variety of means, such as selling access to data, using data to drive sales or marketing efforts, or using data to develop new products or services. Monetizing data can be a lucrative way for companies to generate new revenue streams and grow their business.
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Market Trends and Drivers
In the current technological scenario, independent software vendors have turned to self-service business intelligence to increase application revenue and differentiate their offerings. Similarly, for enterprises developing applications, self-service BI can contribute to application ROI by increasing adoption and improving operational efficiencies. Data visualization offers companies an effective and easily accessible way to identify crucial patterns through visual representation. Visualizing data is a concept that is used in different terms and technologies, including dashboards, infographics, scorecards, analytics, Big Data, and business intelligence. The increase in data has been accelerated by emerging technologies powered by and contributing to exponential data growth. These technologies are Edge Computing, 5G networking, the Internet of Things (IoT), Artificial intelligence and machine learning (AI/ML), Augmented and virtual reality (AR/VR), and Blockchain. Such an unprecedented increase in data volume, variety, and speed has increased data monetization adoption.
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Market Segments
By Component
-Software
-Services
By Deployment Mode
-On-Premises
-Cloud
By Organization Size
-Small & Medium Sized Enterprises
Key Players
-Accenture plc
-SAP SE
-Adastra Corporation
-Monetize Solutions, Inc.
-VIAVI Solutions Inc.
-ALC
-Reltio
-Optiva, Inc.
-Cisco Systems, Inc.
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