Data Monetization in 2027

1. Data Monetization in 2027: Insights into Market Growth and Strategic ApproachesAccording to a research report "Data Monetization Market with Covid-19 Impact Analysis, by Component (Tools and Services), Data Type (Customer Data, Financial Data), Business Function, Deployment Type, Organization Size, Industry Vertical and Region - Global Forecast to 2027" the size of the data monetization market is anticipated to increase at a Compound Annual Growth Rate (CAGR) of 19.5% over the course of the forecast period, from USD 2.9 billion in 2022 to USD 7.3 billion by 2027. A few of the reasons propelling the growth of the data monetization market are the rising utilization of external data sources and the growing acceptance of data-driven decision-making. The services aid organizations in gathering and analyzing data for improving the decision- making process, building effectiveness, and reducing costs. Providers of data monetization give businesses a full range of services to carry out various tasks necessary for their operations. The need for services is anticipated to rise in tandem with the anticipated growth of the data monetization market. As a result, suppliers of data monetization services are concentrating on providing specialized services by comprehending the requirements and desires of customers. Support and maintenance services facilitate various operations, including problem handling, product development, enhancement, and system integration, which contribute to the efficient operation of deployed data monetization technologies. Consulting services enables user to gain deep insights into its data assets which further helps in its business growth Deployable use cases are defined with the use of consulting services to improve business performance. Therefore, it is anticipated that the consulting segment will significantly contribute to the services segment's overall revenue. According to market research Download PDF for business opportunities The data enables companies to identify new business opportunities, improve the ways of engaging with customers, and convert the data into assets, which can create new revenue channels In order to safeguard their financial data, businesses can improve their risk management strategies with the aid of data monetization technologies. Data has been growing at a quicker rate due to technological improvements, and data monetization technologies assist businesses in monitoring performance, improving operational efficiency, and providing insightful and long- term data strategies. The sales and marketing data is very useful for organizations to make decisions about a product that is already available in a particular market and developing new products in the market The foundation of every activity in the sales and marketing business function is customer data. These operations cover everything from lead creation and preliminary market/customer

2. research to customer acquisition and retention. Businesses use vast amounts of consumer data collection and aggregation to power their operations. In order for sales and marketing teams to better understand consumer behavior and obtain a comprehensive understanding of their interests and preferences, data monetization plays a critical role in this business function. It does this by allowing them to discover correlations between various data sets. Sales and marketing teams can use this information to develop the most appropriate plan for connecting with customers. This would assist businesses in creating the marketing mix including components like advertising, product development, and market research in an efficient manner. The mobility of data, lower maintenance cost, and ease of deployment are expected to drive the cloud-based deployment type across industry verticals. Cloud-based data monetization is predicted to rise due to its benefits, which include lower hardware requirements and subscription-based pricing structures. Customers can simply store and retrieve meaningful information at any time and from any location thanks to seamless flexibility and scalability. Users can perform real-time analytics on data from remote places with the cloud-based deployment option. The cost-saving advantages of cloud-based data monetization tools and services increase the operational efficiency and lower the operational expenses of businesses. The data monetization market among SMEs is expected to grow due to a surge in the adoption of customer data and product data types across all the regions One important component in assessing a company's potential for market expansion is data. Businesses need technology that may help them increase their operational efficiency and profit margins. Companies are able to assess the quality of data and interchange it with the highest level of security thanks to data monetization tools and services. The adoption of data monetization among SMEs is anticipated to be driven by low marketing budgets and a lack of resources. SMEs always change and strive to implement more creative, adaptable solutions in order to increase their market share and clientele. The data monetization tools and services enables media and entertainment companies to identify further market opportunities, and to provide personalized user experience. Because of the widespread use of entertainment devices like televisions, smartphones, tablets, and other connected devices, the media and entertainment sector vertical has produced enormous volumes of data over the years. Any type of material, including text, photos, audio files, and videos, may be included. The ability to swiftly access, evaluate, and handle such massive volumes of data has become essential for success in today's fiercely competitive world. North America holds the largest market size in 2022 North America is one of the most technologically advanced regions in the world. The adoption of the data monetization tools and services is expected to be the highest in North America compared to other regions. This is because of the rising expenditure of companies on digital solutions. The increasing generation of data, such as clickstream data, server logs, subscriber data, CRM, and Enterprise Resource Planning (ERP), is compelling data monetization companies to launch monetization tools and services for catering to various business needs. Major industry verticals such as BFSI and retail have shown tremendous data generation. The

3. major data monetization vendors in the North American region have adopted several strategies to enhance their existing product portfolios and expand their presence in the data monetization market. North America is further segmented into the US and Canada. The US is expected to be the major revenue contributor to the data monetization market in North America. After the US, Canada is expected to present major growth opportunities for data monetization providers, as the enterprises in the country are rapidly shifting toward data- and decision-based strategies. Key Players The leading players in the data monetization market are Looker (US), ThoughtSpot (US), Sisense (US), Domo (US), Accenture (Ireland), Virtusa (US), Infosys (India), 1010Data (US), Oracle (US), Salesforce (US), SAS (US), TIBCO (US), IBM (US), Qlik (US), SAP (Germany), and more. About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets™ INC. 1615 South Congress Ave. Suite 103 Delray Beach, FL 33445 USA : 1-888-600-6441 sales@marketsandmarkets.com