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The Global Data Monetization Market size is expected to reach $196.1 billion by 2023, rising at a market growth of 27% CAGR during the forecast period. Data monetization is a process of monetizing data assets to generate better revenue from available data sources or real-time streamed data. Data monetization leverages the data generated from various business operations and other factors such as electronic devices & sensors, overall contributing to the Internet of Things (IoT). The data gathered is further used to extract valuable insights and work towards generating new revenue streams. Rapid growth in the enterprise data, technological advancements in big data & analytics solutions, and growing inclination to identify new revenue streams are the factors that drive the market growth.
Based on Business Function, the Data Monetization market segments the market into Sales & Marketing, Finance, Supply Chain Management, Operations, and Others. Based on Data Type, the market report segments the market into Customer Data, Financial Data, Supplies Data, and Others. Based on Organization Size, the Data Monetization market segments the market into Small & Medium Enterprises and Large Enterprises. Based on Vertical, the Data Monetization market segments the market into BFSI, Consumer Goods, Government & Defense, Healthcare, Transportation & Logistics, Manufacturing, Telecom, Media & Entertainment, and Others. Based on Regions, the Data Monetization market segments the market into North America, Europe, Asia-Pacific, Middle East and Africa.
The market research report covers the competition analysis of key stake holders of the Global Data Monetization Market. Key companies profiled in the report include Accenture Plc., Cisco Systems, Inc., Virtusa Corporation, IBM Corporation, Gemalto NV, NetScout Systems, Inc., VIAVI Solutions Inc., Adastra Corporation, SAP SE, and SAS Institute, Inc.