Data Monetization Market Size, Share & Trends Analysis Report By Organization Size (Large Enterprises, SMEs), By Method (Analytics-enabled Platform As A Service, Embedded Analytics), By Vertical, By Component, By Region, And Segment Forecasts, 2024 - 2030

Data Monetization Market Size & Trends

The global data monetization market size was estimated at USD 3.24 billion in 2023 and is anticipated to grow at a CAGR of 25.8% from 2024 to 2030. Data monetization is the sharing of data between companies, which is used to create new revenue-generating streams. Data monetization is of two types, namely direct data monetization and indirect data monetization. The direct monetization of data involves the sale of raw data. Direct data monetization involves selling a company’s analysis, bartering or trading data, and creating one or many APIs. In contrast, indirect monetization is the process of creating a measurable impact with data that helps companies reduce costs, improve productivity and efficiency, develop new products or services, and discover new customer types or business categories, among others. For instance, Uber sells its ridesharing details to food & retail industry incumbents with users’ permission to assist food & retail companies in opening business outlets in potential business areas.

Several factors, such as rising enterprise data volume, awareness of data monetization, and external data sources, are anticipated to drive market growth. Furthermore, growing usage of data processing and artificial intelligence, adoption of data-driven decision-making approaches, and advancements in big analytics, among others, are expected to fuel the growth over the forecast period.

Several companies are inclined toward data monetization since it provides data usage optimization, customer loyalty, reduced operating costs, improved compliance, boosts profitability, strengthens partnerships, and enhances customer experience and understanding. Similarly, data monetization also adds maximum value to products and services, streamlines planning and decision-making activities, improves collaboration and data sharing amongst external and internal stakeholders and increases targeted product/ service marketing and propositions. For instance, tire manufacturing company Michelin sells raw tire data, such as pressure, temperature, and GPS, to automobile companies to study driving behavior.

Data monetization is an umbrella term that covers additional revenue that an organization generates from the information it holds on its customers. It is expected to be vital to an organization's business since it focuses on upselling services, supporting customer care, and reducing churn. It is also crucial for business intelligence support for several commercial opportunities, such as mobile marketing. It does this by providing selling data as an insight.

Data monetization entails generating high revenue from available data sources. It controls data generated through sensors and electronic devices and business operations. This data creates valuable insights for companies to develop new business categories. The emergence of advanced technologies such as artificial intelligence, the Internet of Things (IoT), big data, and cloud computing has paved the way for market growth. The ability of data monetization to synthesize and incorporate thousands of data, IoT records, and the ability to apply artificial intelligence and advanced analytics has encouraged several players to invest in data monetization.

Furthermore, the rising shift of companies towards data monetization has also accelerated cloud and cloud-based technology development. Additionally, storing and maintaining a massive amount of data on physical storage mediums or hardware is expensive. In this situation, cloud-based solutions offer colossal computing and storage power. It has created an opportunity for cloud-based data monetization. Additionally, cloud technology encourages companies to share real-time data. Also, cloud computing is expected to pave the way for subscription-based information-sharing platforms, resulting in market growth.

Market Concentration & Characteristics

The market growth stage is fairly high, and the pace of the market growth is accelerating. The global data monetization market is fairly concentrated. The market is witnessing an enormous scope for innovation in big data and data segmentation areas. Marketers are investing in software solutions and tech tools to segregate large amounts of data and make it relevant to monetizing the sale of raw data.

Global business entities are investing in partnerships, collaborations, and mergers to strengthen their respective data monetization solutions portfolios. Due to stringent regulations and legal implications regarding data privacy, mergers and acquisitions are very rare in this global data monetization market.

Each data monetization company has exclusive data with unique databases, while other competitors have different data; therefore, alternative service providers are less in the market. Similarly, data monetizing companies hold different designing and developing of solutions. As a result, a few service substitutes can meet customer needs and conditions before beginning the development process.

End users, which include the incumbents of various end-use industries and verticals, such as BFSI, IT & telecom, energy & utilities, e-commerce & retail, manufacturing, and healthcare. Several companies are opting for data monetization solutions and services to improve their operational efficiency and efficiently cater to dynamic business needs while strengthening their profit margins.

Method Insights

The analytics-enabled platform as a service segment accounted for the largest revenue share of 38.3% in 2023. It is attributable to the ability of the method to provide flexible data monetization to customers. This method comes pre-installed with BI and analytics tools and is implemented to give consumers insights in real-time, along with high versatility. Additionally, it is compatible with all cloud-based solutions, supports wide arrays of data formats, and can be deployed on-premises and cloud. However, this method demands expert support for maintenance and installation.

Embedded analytics segment is expected to witness a significant CAGR of 26.2% from 2024 to 2030. Embedded analytics can integrate existing applications with additional features such as data visualization, dashboard reporting, and analytics. This method accelerates time to market, creates customized embedded analytics solutions, and lowers TCO. Similarly, insight as a service combines external and internal data sources that use analytics to provide data insights. This method can support specific datasets and provide updated data to customers.

Organization Size Insights

The large enterprises segment accounted for the largest revenue of USD 2.16 billion in 2023. It is attributable to the rising presence of large organizations with global dominance. The data monetization market includes companies with a strong foothold in retail, BFSI, and telecommunication verticals. Furthermore, large enterprises have customers present across the globe and the value chain. They have adequate technical expertise, business strategies, and capital. There is a growing requirement for advanced technologies such as cloud computing and Artificial Intelligence (AI) in the market. Large enterprises can easily invest in such new technologies to maintain business continuity.

The SMEs segment is expected to grow at the fastest CAGR of 29.4% from 2024 to 2030. The rising adoption of data monetization by SMEs to sustain in the competitive market is expected to power the segment growth over the forecast period. Furthermore, SMEs are expected to face resource shortages, resulting in business complexities and the increased need to optimize costs. In this situation, the rising presence of cloud-based data monetization is expected to play a pivotal role in ensuring reduced operations costs and increased efficiency, thereby positively affecting segment growth.

Component Insights

Several organizations incorporate tools, consulting services, support, and maintenance as components for data extraction to be monetized later. These products and services enable businesses to sell that raw data to third-party companies. As a result, tools, consulting, and support services play a crucial role in driving the market growth.

Furthermore, businesses are looking to deploy next-generation data collection components are more interested in data monetization markets. For instance, smartphones are expected to become significant components in numerous businesses in the future to carry out data extraction activities and monetize them to enhance users' experience of consumers.

Vertical Insights

The BFSI segment held the largest revenue share of 21.1% in 2023. It is attributable to the growing presence of most data-rich businesses in the banking sector. According to industry experts in banking and financial security companies, BFSI organizations manage over 3.8 petabytes of data. It has created a massive demand for data monetization in the BFSI segment. Furthermore, data monetization in BFSI accelerates customer interactions and operating income by over 50%. Such factors are anticipated to power market growth over the forecast period.

The telecommunications & IT segment is expected to witness a significant CAGR of 26.7% from 2024 to 2030. The increasing amount of data generated by these companies, the growing demand for data-driven decision-making, the increasing adoption of cloud computing, and the growing popularity of big data analytics. These factors make it easier for telecom and IT companies to store, analyze, and monetize their data.

Regional Insights

North America dominated the market and accounted for the largest revenue share of 32.5% in 2023. It is attributable to the presence of major players in the region such as the United States. Furthermore, the region’s growth is highly influenced by the companies located in the U.S. and Canada which are highly investing and adopting advanced technologies such as cloud computing, big data, and analytics. Growing advancements in big data analytics and continued digital transformation across various industries and industry verticals, including retail, banking, IT & telecom, and hospitality, are some of the key factors contributing to the growth of the regional market.

U.S. Data Monetization Market Trends

The data monetization market in the U.S. is growing significantly at a CAGR of 23.1% from 2024 to 2030. Growing government focus on encouraging digitization across industries to improve the transparency of processes is creating a positive outlook for the U.S. market. Furthermore, advancements in emerging technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) are expected to drive the market growth in the region. In addition, various IT and telecom companies are shifting their businesses to Software-as-a-Service (SaaS) and Infrastructure-as-a-Service (IaaS) platforms in the U.S. to initiate remote operation management. This has bolstered the demand for system infrastructure software in the IT and telecom sectors in the region.

Europe Data Monetization Market Trends

Europe’s data monetization market accounted for a revenue share of 25.0% in 2023. The promising growth prospects of the European market can be attributed to the growing adoption of cloud computing, increasing adoption of Artificial Intelligence (AI), and aggressive investments in data centers by key market players. Similarly, the increasing demand for data integration services, expanding 5G network coverage, and growing adoption of SaaS cloud services are also expected to favor regional market growth.

The data monetization market in the UK is growing significantly at a CAGR of 24.4% from 2024 to 2030. Data buyers and sellers are investing heavily in the UK to strengthen their market positions and increase their consumer base. It is becoming increasingly popular for businesses to monetize data for several reasons, including improving data usage, reducing operating costs, increasing profits & customer retention, increasing compliance, strengthening partnerships, and improving customer experience & understanding.

Germany’s data monetization market is growing significantly at a CAGR of 25.4% from 2024 to 2030. The availability of advanced analytics tools and technologies can facilitate the extraction of valuable insights from data. Germany has a solid technological infrastructure and a skilled workforce, which can support developing and deploying sophisticated data analytics solutions. Therefore, businesses are investing in data monetization initiatives, leading to market growth.

The data monetization market in France is growing significantly at a CAGR of 26.6% from 2024 to 2030. The growth of the French market can be attributed to the growing internet penetration and increasing efforts by fintech companies to improve their financial activities, such as insuring, lending, and payment to businesses and customers.

Asia Pacific Data Monetization Market Trends

Asia Pacific is expected to grow at the fastest CAGR of 27.8% during the forecast period. The growing adoption of cloud computing, data analytics and big data solutions in the region is expected to fuel the region's market growth. Similarly, APAC is witnessing regional market growth due to the rapid digitization of businesses, growing 5G networks, emerging startups in IT sectors, and an increase in the volume of data generated.

China data monetization market is growing significantly at a CAGR of 28.1% from 2024 to 2030. The rising adoption of Industry 4.0 and advancements in various digital technologies, including AI, ML, and IoT in hardware and software, are playing a vital role in enriching market representation in China

Data monetization market in Japan is growing significantly at a CAGR of 25.6% from 2024 to 2030. The increasing use of digital systems in Japan’s construction sector is creating robust market opportunities. Market players are partnering with reputed construction companies to increase their revenue streams.

India data monetization market is growing significantly at a CAGR of 30.1% from 2024 to 2030. The rapid digitization of businesses, the development of 4G/5G networks, the rise of startups in the IT sector, and the increasing population are all factors contributing to the growth of the Indian market.

Middle East & Africa Data Monetization Market Trends

Middle East & Africa is expected to grow at the fastest CAGR of 26.8% from 2023 to 2030. Infrastructure development activities in the Middle East are likely to produce a large volume of data, particularly across the BFSI, retail, consumer goods, healthcare, and utility sectors, which is likely to increase the demand for data monetization solutions over the forecast period.

Key Data Monetization Company Insights

Some of the key companies include Accenture, Cisco, and IBM Corporation, and others are some of the leading participants in the global data monetization market.

• Accenture provides technology solutions and professional services in areas such as network management and consulting. It operates through five business lines: Accenture Technology, Accenture Operations, Accenture Digital, Accenture Strategy, and Accenture Consulting. The company offers business process services, infrastructure services, security services, and cloud services under the Accenture Operations business line.

• Cisco Systems, Inc. specializes in developing and distributing hardware and software solutions. The company serves industries such as mining, oil and gas, smart buildings, retail, education, financial services, government, transportation, utilities, healthcare, insurance, and entertainment. It offers solutions across a range of technologies, including cloud, data center, network infrastructure, mobility, IoT, security, AI, and analytics and automation.

Comviva, Monetize, Reltio, and others are some of the emerging market participants in the data monetizing market.

• Comviva is a telecommunications company that offers a range of productized solutions to more than two billion mobile users globally. The company’s portfolio of solutions includes managed VAS, mobile finance, mobile data, content, messaging, customer value management, and infotainment solutions.

• Monetize is a provider of IT-based consulting and services. The company offers data science, cloud, sales and marketing, and Artificial Intelligence (AI) solutions. The company also helps organizations to recognize growth and monetization as well as putting customers on the profitable path through sales and marketing transformation, incorporation of machine learning, and prescriptive analytics.

Recent Developments

• In February 2024, Gulp Data announced a partnership with Snowflake that enables organizations to explore, share, and unlock value from their data, providing data valuation, data-backed loans, and data monetization services.

• In December 2023, Thales completed the acquisition of Imperva. By providing the most comprehensive solutions for the broadest range of application, data security, and identity use cases, Thales and Imperva will help customers address cybersecurity challenges that are increasing rapidly in frequency, severity, and complexity.

• In September 2022, SAS declared SAS Viya on Azure as a powerful data analytics platform available on the Microsoft Azure marketplace. This new offering makes it easier than ever for businesses to gain insights from their data by combining the scalability and flexibility of Azure with the power of SAS Viya.

• In March 2022, Domo, Inc. announced Data Apps, a new low-code data tool designed to make data-driven decisions and actions accessible to everyone in an organization. It makes Data Apps more accessible to a wider range of users than traditional BI tools, often specifically designed for executives, managers, and data analysts.

• In January 2022, Revelate Data Monetization Corp. formerly known as TickSmith announced a $20 million Series, a funding investment to promote its innovative data-selling platform. Unlike any other product now available, its data web store is a B2B SaaS platform offering an e-commerce data shopping experience by offering all the tools required to prepare, manage, package, and monetize data.

Data Monetization Market Report Scope

Global Data Monetization Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global data monetization market report based on method, organization size, vertical, component, and region:

• Method Outlook (Revenue, USD Million, 2018 - 2030)

  • Data as a Service

  • Insight as a Service

  • Analytics-enabled Platform as a Service

  • Embedded Analytics

• Organization Size Outlook (Revenue, USD Million, 2018 - 2030)

  • Large Enterprises

  • SMEs

• Vertical Outlook (Revenue, USD Million, 2018 - 2030)

  • BFSI

  • E-commerce & Retail

  • Telecommunications & IT

  • Manufacturing

  • Healthcare

  • Energy & Utilities

  • Others

• Component Outlook (Revenue, USD Million, 2018 - 2030)

  • Consulting

  • Implementation & Integration

  • Services

  • Supporting and Maintenance

  • Tools

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • Middle East and Africa

    • Saudi Arabia

    • South Africa

    • UAE