Allied Market Research Forecasts:
Data Monetization Market
CAGR of 22.1%
April 25, 2022
According to a new report published by Allied Market Research, titled, “Data
Monetization Market," The data monetization market was valued at $2.1 billion in
2020, and is estimated to reach $15.4 billion by 2030, growing at a CAGR of
22.1% from 2021 to 2030.
Advancements in industrial-grade digital technology, increase in inclination
toward cloud-based data monetization software, rise in need for improved supply
chain, and customer relation management majorly contribute toward the growth of
the market. However, lack of IT infrastructure in the underdeveloped nations and
surge in security & privacy concerns hamper the growth of the data monetization
On the basis of industry vertical, the IT & telecommunication segment dominated
the overall data monetization industry in 2020, and is expected to continue this
data monetization market trends during the forecast period. Massive growth of
the data in the telecommunication and IT sector and increase in need to generate
other revenue streams through the data monetization services drive the growth of
the market. However, the retail and E-commerce segment is expected to witness
highest data monetization market growth. E-commerce players increasingly adopt
data monetization solutions to sell the data or to join hands with brands to
analyze the data and use it to generate additional revenue. Moreover, increase
in focus of small and medium businesses toward the data monetization strategy to
generate revenue streams fuels the data monetization industry. For instance,
Chinese e-commerce behemoth focuses on collection of consumer data. In addition,
companies, such as Google, Amazon, LinkedIn, and Netflix, are popular for
monetizing information to generate revenue and gain market share.
Region wise, the data monetization market was dominated by North America in
2020, and is expected to retain its position during the forecast period. This is
attributed to .the fact that banks and financial institutions in this region use
data to sell new services by adding net new revenue streams through data
monetization. Furthermore, Asia-Pacific region is subjected to grow at the
fastest CAGR in the upcoming years. This is attributed to fact that telecom
service providers have recognized the value of the collected data and thus have
started to monetize the information to improve their profitability-per-user
ratio by using data monetization, which majorly drives the market.
The emergence of COVID-19 has drastically affected different industries across
the globe. Owing to lockdowns and restrictions during COVID-19 pandemic,
industries such as aviation, automotive, tourism, oil& gas, education, and
manufacturing experienced a fall in their market share. Owing to COVID-19
pandemic, many governments and FinTech industries have witnessed growth due to
number of factors, including continuous rise in the volume of enterprise data,
technological advancements in big data &analytics solutions, growth in
importance to generate new revenue streams, security &privacy concerns, and
others. Surge in awareness about the potential benefits of data monetization and
increased adoption of data monetization among the service providers provide
opportunities for the data monetization market share growth. However, each
factor has its definite impact on the data monetization market size.
Kathoke - Research Analyst ICT and Media at Allied Market Research said, "Data
monetization market trends in Asia-Pacific is expected to exhibit highest growth
during the forecast period owing to strong economic growth along with the
ongoing development in data monetization and inventory management, which drives
organizations to invest heavily in data monetization market to sustain growth
and improve productivity. In addition, factors such as major shift toward
digital transformation, cloud deployment & technological advancement among small
& medium businesses, and continuously ongoing modernization in work force
management strategy in emerging economies notably contribute toward the market
growth. Furthermore, key players in Asia-Pacific are focusing on enhancing their
operations and increasing their overall efficiency to stay competitive in the
market, which is expected to provide lucrative opportunities for the growth of
the data monetization market share during the forecast period."
KEY FINDINGS OF THE
By component, the
software segment generated the highest revenue in
- By deployment type,
the on-premises segment generated the highest
revenue in 2020.
- By enterprise Size,
the large enterprises segment generated the highest
revenue in 2020.
- By industry
vertical, the IT and telecommunication segment
dominated the data monetization market size in 2020.
However, the retail & E-commerce segment segment is
expected to exhibit significant growth during the
data monetization market forecast period.
- Region wise, the
data monetization market size was dominated by North
America. However, Asia-Pacific is expected to
witness significant on the data monetization market
analysis in the coming years.