Data Monetization Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Data Monetization Companies and the Market is Segmented by Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), End-User Industry (Banking, Financial Services, and Insurance (BFSI), Telecom and Information Technology, Manufacturing, Healthcare, and Retail), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The Report Offers Market Sizes and Forecasts in Value (USD) for all the Above Segments.

Data Monetization Market Size

Data Monetization Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 4.87 Billion
Market Size (2029) USD 14.99 Billion
CAGR (2024 - 2029) 19.98 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

Data Monetization Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Data Monetization Market Analysis

The Data Monetization Market size is estimated at USD 4.87 billion in 2024, and is expected to reach USD 14.99 billion by 2029, growing at a CAGR of 19.98% during the forecast period (2024-2029).

Data monetization is gaining traction as companies are becoming more interested in discovering the value in their otherwise underutilized or redundant data. Furthermore, monetizing data requires not just combining businesses and technical experts but also time, energy, and investment with complementary skills.

  • In the current market scenario, independent software vendors have turned to self-service business intelligence to increase application revenue and differentiate their offerings. Similarly, self-service BI can contribute to application ROI for enterprises developing applications by increasing adoption and improving operational efficiencies.
  • The increase in data has been accelerated by emerging technologies powered by and contributing to exponential data growth. These technologies are Edge Computing, 5G networking, the Internet of Things (IoT), Artificial intelligence (AI) and machine learning (ML), Augmented and virtual reality (AR/VR), and Blockchain. Such an unprecedented increase in data volume, variety, and speed has increased the prospects of data monetization.
  • For instance, the emergence of new business models such as e-commerce has significantly boosted the growth of the data monetization industry as e-commerce websites have the ability to collect vast amounts of data based on the user's search behavior and purchasing patterns. This allows e-commerce players to adopt data monetization solutions to sell the data or collaborate with brands to analyze the data and use it to fulfill various business objectives to generate additional revenue.
  • Relative to other sectors, healthcare has struggled with the fragmented data landscape and still faces challenges due to regulatory constraints, interoperability challenges, and mistrust among participants. The absence of a common national patient identifier and the challenges of creating highly capable data repositories due to data normalization and interoperability issues make it challenging to harness standardized and normalized data for all aspects of healthcare operations.
  • Furthermore, amid the growing consumer awareness about the use of their personal data, several data security regulations are being framed across the world, such as GDPA, CCPA, etc. As these laws offer strict frameworks to avoid any misuse of a consumer's personal data, it can have an adverse impact on the growth of the studied market.
  • Because of the COVID-19 pandemic, almost every industry is experiencing volatility, risks, and changes in customers' buying behaviors. Businesses worldwide are compelled to make substantial changes to their operations, such as downsizing and product and service diversification. To address these changes quickly, companies adopted or capitalized on their business intelligence strategies through artificial intelligence systems, agile risk management, and data analytics to help make informed decisions to continue business operations amid the pandemic. This is anticipated to drive new opportunities in the studied market during the forecast period.

Data Monetization Market Trends

Healthcare Sector Holds Major Market Share of the Market

  • The healthcare industry has seen an exponential increase in data due to increasing digitalization in healthcare over the past. Health records or electronic health records (EHRs) are moving to the cloud, and wearables and smart devices have become extremely commonplace. The digitalization trend has paved the way for data monetization in the sector, and it is helping enhance clinical services and realize financial benefits.
  • The growing adoption of data analytics and IoT devices in the sector will further create a massive amount of data in the sector. According to a survey conducted by Philips, as of February 2022, 92% of healthcare leaders surveyed in Singapore declared they had already implemented or had been in the process of adopting predictive analytics in their healthcare organizations. Hence, this will expand the scope of data monetization services. In addition, having recognized data as a true enterprise asset, healthcare organizations worldwide reap the benefits of this asset through analytics. Highly competitive healthcare organizations move up in the value chain by monetizing these analytics to generate a new revenue stream.
  • Industry experts believe that commercial usage of de-identified patient data has enormous potential as it can not only enable and accelerates innovation in care delivery models, benefitting healthcare consumers by improving outcomes at lower costs, but by sharing the data access to digital health entrepreneurs and researchers, will also allow them to use advanced analytical tools to gain useful insights that can be a game changer in driving the innovation in care delivery as well as in a variety of other things also.
  • Considering the growth potential, market vendors in the healthcare sector are offering innovative data monetization solutions which are data privacy law compliant. For instance, in October 2022, John Snow Labs, the Healthcare AI and NLP company and developer of the Spark NLP library announced improvements to its automatic de-identification solution. John Snow Labs empowers product innovation and cost savings for healthcare organizations worldwide by enabling organizations to automatically de-identify large datasets. The company's automatic de-identification solution provides the custom de-identification required for data monetization.
  • Furthermore, in the United States, 14 of the largest health systems created a new startup, Truveta Inc., to pool together their vast and diverse data to take back control over how their patients' de-identified data is shared and used. The startup's aim is to leverage patient data to enhance patient care, accelerate the development of treatments, address health inequity, and reduce the time to make a diagnosis. Hence, growing such trends are anticipated to drive the growth of the studied market during the forecast period.
Data Monetization Market: Rate of Predictive Analytics Adoption in Healthcare, In Percentage (%), Global, by Country, 2022

Asia-Pacific is Expected to be the Fastest Growing Market

  • The Asia-Pacific region is witnessing dynamic growth in the adoption of new technologies. Additionally, the commercialization of AI, IoT, and big data technologies and the need for further technological advancements to leverage such technologies creatively are anticipated to drive the adoption of data monetization tools and services in this region. The rising advancements in networking technologies, the rapid e-commerce boom, the growing manufacturing and automotive sectors, and increasing regulatory mandates also positively impacted regional growth.
  • Various financial service institutions (FSIs) in the region have invaluable and voluminous data that can be monetized to deliver a significant return. For instance, doing data-to-digital will allow FSIs to compete digitally and leverage the benefits of digital transformation. Additionally, these assets can produce significant new revenue streams once transformed through data-to-digital. FSIs can also monetize data by using data analytics better, producing data-driven solutions, and building platforms of insights and services.
  • Considering a large consumer base and growing penetration of smartphones and other handheld devices, data monetization is anticipated to witness an unprecedented growth in the Asia pacific region as enterprises with access to insightful data may generate significant revenue from mobile device advertisers which is gaining a significant traction lately.
  • Hence, the potential data monetization holds is encouraging the vendors to adopt innovative business strategies to generate best value from their data. For instance, China Unicom, a telecom service provider, has used blockchain to create a new data monetization revenue stream. The company’s objective is to share data with enterprise customers whilst also maintaining compliance with security and privacy regulations and keeping an eye on the overhead costs and data storage.
Data Monetization Market - Growth Rate by Region

Data Monetization Industry Overview

The data monetization market is competitive due to the presence of both global players and small and medium-sized enterprises. As data monetization is used in various industries to provide vendors with growth opportunities, it attracts new players into the market, driving competition among the vendors. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage. Some key market players include Accenture PLC, Adastra Corporation, and Cisco Systems Inc., among others.

  • June 2023 - Tata Consultancy Services (TCS), a leading IT company, launched the TCS Dexam data marketplace platform on Google Cloud. According to the company, the platform enables enterprises to democratize and monetize data by providing a continuous data exchange for enterprises and their ecosystem partners while also ensuring compliance with data consent, privacy, and security regulations.
  • May 2023 - NielsenIQ, an information services company, launched NielsenIQ Activate; a software-as-a-service (SaaS) solution designed to enables retailers to accelerate revenue opportunities through comprehensive customer insights and retail media that activate shoppers with personalized promotional offers. According to the company, this SaaS tool will also allow retailers to create revenues by monetizing their retail media assets across both digital and physical channels.

Data Monetization Market Leaders

  1. Accenture PLC

  2. Adastra Corporation

  3. Cisco Systems, Inc.

  4. Dawex Systems SAS

  5. Emu Analytics Ltd.

*Disclaimer: Major Players sorted in no particular order

Data Monetization Market Concentration
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Data Monetization Market News

  • February 2023 - Synechron, Inc., launched its Data Monetization Accelerator program. The program offers a suite of building block solutions designed to help commercial and retail banks, asset managers, and financial services institutions unlock the full potential of their data. According to the company, this innovative tool leverages analytics and derives insights to identify and develop revenue opportunities by implementing key strategies for monetizing an organization's data while preserving data privacy, governance, security, and management.
  • February 2023 - Aniview, a major vendor in video advertising technology and monetization, entered into a partnership with Evrideo, a cloud-based automated distribution provider for the CTV advertising market. Aniview and Evrideo’s combined state-of-the-art solutions are anticipated to bring together the industry’s best solution enabling the creation, distribution, and monetization needs of free ad-supported TV (FAST) network providers, broadcasters, and CTV device manufacturers (OEMs) worldwide.

Data Monetization Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Buyers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitutes

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Assessment of Impact of COVID-19 on the Data Monetization Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Rapid Adoption of Advanced Analytics and Visualization

      2. 5.1.2 Increasing Volume and Variety of Business Data

    2. 5.2 Market Restraints

      1. 5.2.1 Interoperability With Existing Systems

      2. 5.2.2 Varying Structure of Regulatory Policies

    3. 5.3 Market Challenge

      1. 5.3.1 Increasing Complexities in Data Structures and Availability of Consistent Data

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Organization Size

      1. 6.1.1 Small and Medium-Sized Enterprises

      2. 6.1.2 Large Enterprises

    2. 6.2 By End-user Industry

      1. 6.2.1 Banking, Financial Services, and Insurance

      2. 6.2.2 Telecom and Information Technology

      3. 6.2.3 Manufacturing

      4. 6.2.4 Healthcare

      5. 6.2.5 Retail

      6. 6.2.6 Other End-User Industries

    3. 6.3 By Geography

      1. 6.3.1 North America

      2. 6.3.2 Europe

      3. 6.3.3 Asia-Pacific

      4. 6.3.4 Latin America

      5. 6.3.5 Middle East and Africa

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles*

      1. 7.1.1 Accenture PLC

      2. 7.1.2 Adastra Corporation

      3. 7.1.3 Cisco Systems, Inc.

      4. 7.1.4 Dawex Systems SAS

      5. 7.1.5 Emu Analytics Ltd.

      6. 7.1.6 Thales Group

      7. 7.1.7 Google LLC (Alphabet Inc.)

      8. 7.1.8 IBM Corporation

      9. 7.1.9 Infosys Limited

      10. 7.1.10 Ness Technologies Inc.

      11. 7.1.11 NetScout Systems Inc.

      12. 7.1.12 Openwave Mobility Inc. (ENEA)

      13. 7.1.13 SAP SE

      14. 7.1.14 SAS Institute Inc.

  8. 8. INVESTMENT ANALYSIS

  9. 9. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Data Monetization Industry Segmentation

Data monetization refers to identifying and marketing data or data-based products to generate monetary value. The core of data monetization is data products, i.e., products based on raw, refined, or analyzed data. The study discusses vendors' tools and solutions for data monetization and recent innovations. The scope of the study has been segmented based on organization type (small and medium-sized enterprises, large enterprises) and end-user industry (banking, financial services, insurance, telecom and IT, manufacturing, healthcare, and retail, among others) across geographical regions.

The study tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which support the market estimations and growth rates over the forecast period. The study also tracks the revenue accrued from the various data monetization types that are being used in various end-user industries across geographical regions. In addition, the study provides the global data monetization market trends, along with key vendor profiles. The study further analyzes the overall impact of COVID-19 on the ecosystem. The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Organization Size
Small and Medium-Sized Enterprises
Large Enterprises
By End-user Industry
Banking, Financial Services, and Insurance
Telecom and Information Technology
Manufacturing
Healthcare
Retail
Other End-User Industries
By Geography
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
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Data Monetization Market Research FAQs

The Data Monetization Market size is expected to reach USD 4.87 billion in 2024 and grow at a CAGR of 19.98% to reach USD 14.99 billion by 2029.

In 2024, the Data Monetization Market size is expected to reach USD 4.87 billion.

Accenture PLC, Adastra Corporation, Cisco Systems, Inc., Dawex Systems SAS and Emu Analytics Ltd. are the major companies operating in the Data Monetization Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Data Monetization Market.

In 2023, the Data Monetization Market size was estimated at USD 3.90 billion. The report covers the Data Monetization Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Data Monetization Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

The latest trends in the Data Monetization Market include: a) Rise of AI and machine learning for advanced data analytics b) Growing importance of data as a service (DaaS) c) Increasing use of blockchain for secure data transactions

The key factors driving the Data Monetization Market are: a) Exponential growth of big data b) Advancements in analytics c) Data processing technologies d) Increasing demand for data-driven decision-making

Data Monetization Industry Report

The global data monetization market, driven by the demand for data-driven decision-making and advanced analytics, is witnessing significant growth. Organizations across healthcare, telecommunications, retail, and financial services are embracing data monetization to generate revenue from their data assets. The adoption of cloud-based solutions is enhancing the management and analysis of vast data volumes, enabling enterprises to improve operational efficiency, customer engagement, and create new revenue streams. Personalized marketing and strategic use of customer data are propelling the market further, with AI playing a crucial role in innovative data processing methods. Despite challenges like data quality and organizational capabilities, the focus on secure and compliant data monetization strategies is critical for companies aiming to succeed in the digital economy. According to Mordor Intelligence™ Industry Reports, the data monetization market is poised for robust growth, with detailed analysis and forecasts available in their free report PDF download. This presents a lucrative opportunity for any data monetization company looking to capitalize on the expanding market.

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Data Monetization Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)