Data Monetization Market Expected to Hit $65.6 Billion by 2031
Kings Research published a new report on Data Monetization Market Size, Share, Growth, Industry Trends & Forecast 2031, covering various industry elements and growth trends helpful for predicting the industry future. Global Data Monetization Market, estimated at USD 3.38 billion in 2023, is expected to reach USD 13.09 billion by 2031, At a compound annual growth rate (CAGR) of 18.43% from 2024 to 2031. One of the key characteristics of the contemporary digital environment is the exponential growth of data. Global data quantities have increased dramatically since the introduction of technologies like social media, artificial intelligence (AI), and the Internet of Things (IoT)
With a 32.26% market share in 2023, North America topped the world, mostly due to its highly developed technological infrastructure, strong emphasis on innovation, and early adoption of data monetization techniques. North America remains the global leader for data monetization because to significant tech hubs like Silicon Valley and industry-leading businesses that are propelling innovations in cloud computing and data analytics.
Browse Full Report Details @ https://www.kingsresearch.com/....data-monetization-ma
List of Key Companies in Data Monetization Market
Salesforce, Inc.
Adastra
Infosys Limited
NETSCOUT
Sisense Ltd.
Dawex Systems
Trianz
Oracle
Microsoft
Cisco Systems
The Surge in Data Generation
The exponential increase in data generation is a primary driver of the data monetization market. Every interaction, transaction, and digital footprint leaves behind a trail of valuable information. From social media interactions and e-commerce transactions to IoT devices and enterprise systems, data is being generated at an unprecedented rate. Kings Research indicates that by 2025, the global data sphere is expected to grow to 175 zettabytes, underscoring the sheer volume of data available for monetization.
Unlocking the Value of Data
Data monetization refers to the process of leveraging data to create economic value. This can be achieved through various strategies such as direct data sales, data-driven services, and enhanced decision-making processes. Businesses are increasingly harnessing advanced analytics, artificial intelligence (AI), and machine learning (ML) technologies to extract actionable insights from raw data, thereby creating new revenue streams and driving operational efficiencies.
Industry Applications and Use Cases
The applications of data monetization are vast and span across multiple industries. Some notable examples include:
Retail and E-commerce: Businesses analyze customer data to optimize inventory, personalize marketing campaigns, and improve customer experiences.
Healthcare: Data monetization in healthcare enables predictive analytics for patient care, operational efficiencies, and personalized treatment plans.
Financial Services: Banks and financial institutions leverage data to detect fraud, assess credit risk, and offer personalized financial products.
Telecommunications: Telecom companies use data to enhance network performance, predict maintenance needs, and develop new services.
Manufacturing: Data-driven insights help manufacturers optimize production processes, reduce downtime, and implement predictive maintenance.
