The global data monetization platform market was valued at US$ 2005 Million in 2021, with a historical CAGR of 20%. As the purpose of data monetization platforms is to generate income from available data sources, the market is expected to grow from US$ 2410 Million in 2022 to US$ 17,317 Million by 2032, reflecting a CAGR of 21.8% over the projected period.
The fast emergence of big data and big data analytics is one of the most crucial innovations driving the studied market. Adoption of these solutions is growing among many stakeholders in several industries leading to market growth.
Numerous stakeholders are interested in data monetization platforms because they maximize data use, increase customer loyalty, reduce operational expenditures, enhance compliance, drive revenues, form partnerships, and improve consumer happiness and comprehension.
The digitization insurgency has surfaced the way for data monetization platforms in the healthcare business, which benefits in the improvement of clinical services as well as the comprehension of financial benefits.
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Organizations are focusing on providing specific services to improve the customer experience, and attaining operational performance at a lower cost and in less time is projected to increase the need for analytics solutions in the data monetization platform market.
North America dominates the market owing to increased penetration and usage of data monetization services, software, and platforms, as well as the presence of a large number of data suppliers in the region.
Key Takeaways
- With a 13.8% CAGR, the United States is the market leader in North America for data monetization platforms. In 2021, the U.S. data monetization platform market had a 23.4% market share worldwide.
- In 2021, Europe, which now has the second-largest market share, grabbed 20.7% of the global market. This market is anticipated to expand at a CAGR of 16.4% by 2032.
- Over the projection period, the German data monetization platform market is expected to account for 17.8% of the European market.
- The Chinese data monetization platform market is expected to contribute more than 19.2% of the global market share throughout the projected period.
- Japan is expected to grow at the fastest rate with a CAGR of 21.9%.
- Based on industry, the segment of finance is predicted to hold the biggest global market share. In 2021, this market held a 28.3% share of the global market, and it is now expanding at a CAGR of 14.1%.
- Among all enterprise sizes, the very large enterprises segment has the largest market share and is predicted to develop at a CAGR of 8.9%. The category held a 26% market share globally in 2021.
Competitive Landscape
In the data monetization platform market, key players and innovative vendors include Accenture Plc, IBM Corporation, Infosys Limited, Microsoft Corporation, Google, Oracle Corporation, Salesforce, SAS, TIBCO, Qlik, Looker, ThoughtSpot, Adstra, Cisco Systems, Inc., Gemalto NV, Comviva, Monetize, Reltio, SAP SE and others.
These companies have used a variety of techniques to enhance their market share in data monetization platforms. To widen their client base and increase revenue, they have used both organic and inorganic growth techniques, such as new product launches, acquisitions, corporate expansions, and collaborations.
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Recent Developments
- In January 2022, Optiva, Inc. and Google Cloud established a multi-year strategic relationship. The collaboration attempted to help telecom operators and service providers obtain digital transformation.
- In September 2019, IBM Corporation disclosed its intention to invest in the monetization of automotive data. This is likely to provide new prospects while at the same time retaining its foothold in cloud computing.
Key Segments in the Data Monetization Platform Market
By Component:
- Platform
- Services
By Deployment Mode:
- On-premise
- Cloud
By Enterprise Size:
- Small Offices
- Small Enterprises
- Medium-sized Enterprises
- Large Enterprises
- Very Large Enterprises
By Industry:
- Services
- Distribution Services
- Public Sector
- Finance
- Manufacturing and Resources
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa
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