Global Data
Monetization Market: Introduction
Increasing large
volume of enterprise data generated by organizations across various
industries, is the key factor contributes the growth of global data
monetization market. Data monetization is the process of unlocking
the significant financial value held by the data in an organization’s
enterprise systems. Data stored in an organization’s enterprise
systems is valuable to their employees, also the same data may be
valuable to business partners and customers. The process of
converting the unused/unstructured large volume of enterprise data
into valuable insights and monetizing the data to in to currency or
exchange of service is called data monetization. Data monetization
can help organizations to reduce costs or increase revenue by
investing in analytics platform which converts unstructured data into
valuable insights based on the requirements. For example, if a
telecommunication company has large volume of information, either the
company can sell the data by converting the data into valuable
insights or charge a fee for the ability to access and analyze the
data. An effective data monetization output is based on the factors,
such as technology factor, business factor, and execution factor.
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Global Data
Monetization Market: Market Dynamics
Today’s
enterprises are continuously focusing on create new opportunities for
revenue and growth, since, data monetization solutions are available
with anonymization& aggregation of data into a legally &
ethically acceptable form, preference for data monetization solutions
is increasing across industries. Decreasing data storage coasts,
increasing large volume of under-utilized data in enterprise
atmosphere , and growing importance generate new data revenue streams
from the ever increasing data volume of organizations across various
industries, are the prominent factors drives the growth of global
data monetization market. Additionally, rapid technological
advancements in Big Data and analytics solutions, and expanding
internet of things (IoT) applications coupled increasing volume of
sensor data accelerates the growth of global data monetization
market. Also growing trend on monetizing customer data to upstream
cash flow by various telecom service providers, further fuels the
growth of global data monetization market. However, confusion related
to privacy and security issues and lack of understanding about the
potential benefits of data monetization, are the factors identified
as restraints likely to deter the progression of global data
monetization market.
Global Data
Monetization Market: Segmentation
The global data
monetization market is segmented on the basis of component, industry
vertical, and by region. On the basis of component, the global, the
global data monetization market can be segmented into software and
services. On the basis of industry vertical, the global data
monetization market can be segmented into telecommunication & IT,
media & entertainment, e-commerce & retail, healthcare,
manufacturing, travel & logistics and others. Regionally, the
global data monetization market can be segmented into North America,
Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding
Japan, Japan and Middle East & Africa.
Global Data
Monetization Market: Competition Landscape
Among all region,
data monetization market in North America is expected to dominate the
market, due to expanding volume enterprise data across various
industries and increasing preference for data driven business
strategies. . In terms of revenue, Asia Pacific is identified as the
fastest growing data monetization market, due expanding
telecommunication sector and growing preference IoT solutions across
various industries.
Global Data
Monetization Market: Competition Landscape
Some of the
prominent vendors in the global data monetization market, includes
SAP, Accenture, Comviva Technologies Limited (Mahindra Comviva),
Adastra, Redknee Inc., Monetize Solutions, Inc., Viavi Solutions
Inc., Allot, ALC, and Reltio
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