- +1-315-215-1633
- sales@thebrainyinsights.com
The global data monetization market was valued at USD 3 billion in 2023 and grew at a CAGR of 15% from 2024 to 2033. The market is expected to reach USD 12.13 billion by 2033. Global data explosion will drive the growth of the global data monetization market.
Data monetization means the generation of revenues through data. It can be broadly categorized into two segments, namely, direct and indirect data monetization. Direct data monetization mainly means selling data or data derived products to other individuals or companies who might include marketing firms or business organizations in search of data about consumers. For example, firms can provide information about users’ preferences or their actions under a certain condition where anonymity prevails. While effective, it can be financially rewarding. Indirect data monetization is when data gathered inside an organization is utilized in increasing efficiency in activities, improving products, and improving decisions made towards the betterment of the organization. A prominent example would be e-commerce platforms that filter data to develop unique experiences for users that will lead to sales. They also apply data for improved credit risk control and prevention of fraud. Such a type of monetization can lead to overall cost reductions, as well as improved business experience.
Get an overview of this study by requesting a free sample
The rapidly rising amount of data – One of the most important trends stimulating the need for data monetization is the increasing data generation rate. In the last ten years alone, with the growing nature of connected world, smart phones, social media and cloud, data is created more than ever before. Any action undertaken—whether surfing the web, buying something, using one’s Smartphone, or controlling connected objects—generates huge amounts of information. Recent studies suggest that we generate more than several quintillion bytes of data daily, and this amount is growing as more devices and people connect to the web and as businesses and households increasingly go digital. The increase in IoT (Internet of Things) has increasingly promoted this trend. Coupled with this there is the data from social media interactions, video streaming, GPS tracking and E-commerce transactions and so on and so forth meaning that there is so much raw data that is awaiting businesses to capitalise on. Much of such data is conversely more unstructured and varied, often presented in formats that need complex tools to handle for them to be useful. This has led to increased investment in technologies to drive the potential present in those troves of data. Therefore, the rapidly rising amount of data will drive the global data monetization market’s growth.
Data privacy and regulatory challenges – Lack of privacy and regulation concerns are one of the biggest factors that hinder data monetization. Furthermore, these regulations differ from one geographical jurisdiction to the other thus making it a real challenge to provide global companies with the right legal advice on how they can monetize on their data. These challenges are compounded much more by today’s customer expectations around privacy and ethical use of their data. Increasing incidents of public failures and scandals together with misuse of data have raised awareness and public scrutiny surrounding data privacy. Both privacy and regulation constraints mean that proper data governance can be an expensive and burdensome affair, which in turn restricts the range and expansion of data monetization market.
Technological advancements in data analytics – Enhancements in data analytics and technologies have played a significant role in helping organizations capture value from the enormous flow of data for value creation and profit making. The evolution of various complex analytical models with the help of AI and ML has made raw data meaningful for action within the fastest times. These technologies enable organizations to analyse big volumes of highly detailed data and make distinctive, sophisticated conclusions more fluently and efficiently than conventional techniques. AI and ML can deepen customer insights, better categorize markets, tailor services, which in turn increases the value of customer satisfaction and loyalty. Big data platforms and cloud computing has changed the ways how data is analysed. Solutions implemented in the cloud allow for cost-efficient management of large amounts of data and their further monetization even at the level of small companies without a significantly large investment. Also, analytics technologies have evolved and given non-specialists the ability to easily interpret and implement data. Therefore, technological advancements in data analytics and similar technologies will contribute to the growth and development of the global data monetization market.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global data monetization market, with a 38% market revenue share in 2023.
North America dominates the market due to the advancement in the technologies, greater tendency of the regional economy towards digitalization and due to the presence of significant key Industry players. The majority of big-data companies are based in the region, particularly the United States, covering various fields of cloud computing and AI, big data analytics, and machine learning. The region’s advanced business environment is fuelled by high levels of technology integration across all sectors including, finance, retail, healthcare, and telecom, which has helped organisations harness data for competitive advantage. Also, having tech titans such as Google, Amazon, Microsoft and Apple in the region has promoted the development of an ecosystem of data analytics tools, cloud solutions and machine learning necessary for realizing data monetization programs. These companies not only create extensive amounts of data but also deliver the opportunities to gather, evaluate, and profit from the information.
North America Region Data Monetization Market Share in 2023 - 38%
www.thebrainyinsights.com
Check the geographical analysis of this market by requesting a free sample
The type of data monetization segment is divided into direct data monetization and indirect data monetization. The indirect data monetization segment dominated the market, with a market share of around 57% in 2023. Indirect data monetization looks at how data can be leveraged inside the company to deliver more value to both customers and the organization. This approach enables the utilization of data as a resource to drive strategic value by the company and without involvement of transactions in third-party data that would trigger data ownership issues of privacy and compliance. The predominance of indirect data monetization is attributed to the fact that it yields substantial organizational returns. Furthermore, there exists opportunities for business organizations to leverage their data in better utilization and efficient management of resources contributing to enhanced profitability. The indirect model also comes with fewer risk concerning regulatory as compared to selling the data as this model generally falls under the internal use of the data. The features such as scalability and security of indirect monetization of data and the ethical aspect of its use contribute to its dominance in the market.
The industry vertical segment is divided into banking, financial services, and insurance (BFSI), retail and e-commerce, telecommunications, healthcare, manufacturing, media and entertainment, IT and technology, and energy and utilities. The banking, financial services, and insurance (BFSI) segment dominated the market, with a market share of around 24% in 2023. BFSI sector deals with massive data produced by operations, communication with customers, and market events daily. This industry can benefit greatly from data processing and use. Data monetization in this sector is mainly to generate insights for operations. Customers’ information is applied in banking and other financial organizations to offer tailored financial services, to facilitate lending, and to work on the general customers’ satisfaction level. With increased use of analytics, they are able to offer improved credit risk assessments through analysing records, spending patterns, and other factors. Similarly, insurance firms employ data to evaluate the risk of losses and price the policies correctly and identify cases of fraud in claims through historical data and the pattern of customer behaviour. Furthermore, data has become more relevant in fulfilling the regulatory obligations and fraud detection in the BFSI sector.
The organization size segment is divided into large enterprises, and small and medium-sized enterprises (SMEs). The large enterprises segment dominated the market, with a market share of around 55% in 2023. These organizations have the funds, resources, and the inherent need for repeatedly collecting, storing, analysing, and revaluing data that can sometimes only be achieved using advanced forms of infrastructure. They produce huge data in terms of volume and value. Furthermore, large firms can sustain the implementation of advanced technologies.
The deployment mode segment is divided into cloud-based and on-premises. The cloud-based segment dominated the market, with a market share of around 62% in 2023. The cloud-based deployment model is currently the most popular type of deployment that is used within the data monetization market owing to several advantages such as scalability, relatively low price, and flexibility. Cloud platforms are cheaper. Also, cloud deployments provide superior analytics and machine learning features, critical to derive value from large and complicated data sets. Cloud platforms allow sufficient security features such as encrypting, permitting access, and adhering to the laws of data protection that is mandatory for data monetization strategies.
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2023 | USD 3 Billion |
| Market size value in 2033 | USD 12.13 Billion |
| CAGR (2024 to 2033) | 15% |
| Historical data | 2020-2022 |
| Base Year | 2023 |
| Forecast | 2024-2033 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Type of Data Monetization, Industry Vertical, Organization Size and Deployment Mode |
As per The Brainy Insights, the size of the global data monetization market was valued at USD 3 billion in 2023 to USD 12.13 billion by 2033.
Global data monetization market is growing at a CAGR of 15% during the forecast period 2024-2033.
The market's growth will be influenced by the rapidly rising amount of data.
Data privacy and regulatory challenges could hamper the market growth.
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global data monetization market based on below mentioned segments:
Global Data Monetization Market by Type of Data Monetization:
Global Data Monetization Market by Industry Vertical:
Global Data Monetization Market by Organization Size:
Global Data Monetization Market by Deployment Mode:
Global Data Monetization Market by Region:
Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision.
Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.
The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.
Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:
The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.
The data procurement stage involves in data gathering and collecting through various data sources.
This stage involves in extensive research. These data sources includes:
Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:
Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.
Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.
The supply side for a domain specific market is analysed by:
The demand side for the market is estimated through:
In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.
Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:
Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:
Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.
This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.
Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.
The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:
Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.
Free Customization
Fortune 500 Clients
Free Yearly Update On Purchase Of Multi/Corporate License
Companies Served Till Date
