Deriving Growth from Data Points is One of the Key Attributes of the Data Monetization Software
" The global data monetization market is expected to witness a CAGR of above 15% during 2019–2025 to reach revenue of ~$3 billion by 2025 "
Bangalore, India, September 30, 2019: According to recently published study “Global Data Monetization Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global market for data monetization is expected to grow, owing to the increased competition among enterprises in the market and the growing need to grab the market share. The enterprises are diving deep into data that help in assessing the market better and formulate a growth plan.
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Data monetization finds significant interest from various large enterprises with increasing demand from the BFSI sector. The ongoing trend of leveraging data monetization solutions would lead organizations toward growth, with a specific focus on improving their customer involvement. This is fueling the data monetization market growth at a CAGR of more than 15% during the forecast period to reach revenue of ~$3 billion by 2025.
North America is dominant in the global data monetization market, followed by Europe and Asia Pacific. Enterprises in North America are expected to invest in data monetization solutions to vastly improve customer experience and enhance their product/service offerings. Major vendors are focusing on early market entry and capturing significant market share in this segment. Asia Pacific is poised to grow at the highest CAGR as the region holds vast potential, owing to the greater need to identify customer buying patterns, given the huge customer base in China and India.
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The BFSI sector is a major contributor to revenue in the data monetization market with a focus on enhancing enterprise profitability. The other two major shares for the data monetization market are attributed to manufacturing and consumer goods & retail sectors, with enterprises investing in data monetization solutions to better understand customer needs and boost their supply chain network.
“Data monetization is significantly helping enterprises to discover data that maximizes revenue, both from internal and external data sources. The emergence of IoT, mobile phones, and RFID has created a data-centered ecosystem, which requires data monetization tools to identify the data that directly impacts the business,” pointed out Swarup Bhowal, Research Analyst, Infoholic Research
Key segments of the report include:
- Business Function
- Sales and Marketing
- Supply Chain Management
- Organization Size
- Large Enterprises
- Consumer Goods and Retail
- Transportation and Logistics
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East Africa
- South Africa
- Rest of Middle East Africa
- Latin America
- Rest of Latin America
- North America
- Industry outlook: Market trends, drivers, restraints, and opportunities