Global Data Monetization Market Outlook, Opportunity and Demand Analysis, Forecast 2020-2026

 The Infinium Global Research analyzes the Data Monetization Market over the period of 2020 to 2026. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global data monetization market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of data monetization. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the data monetization market during the period.

"We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report shall be Revised to 2020-2026." 

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Technological Advancements in Big Data & Analytics Solutions are Expected to Propel the Market Growth

Technological advancements in Big Data & analytics solutions are expected to propel the market growth over the forecast period. The organization uses data monetization to find the data insights which integrate with advanced big data technologies. Moreover, Organizations are centrating on the implementation of Artificial Intelligence (AI) and Business Intelligent (BI) tools. These technologies are extremely effective in collecting and processing a high volume of data. These advanced technologies are evolving, innovating, and improvised products of data monetization forecasted to boost the market growth. It is costly to store and maintain massive amounts of data on physical storage media or equipment. Here, cloud-based solutions offer enormous computing and storage power.

The ongoing COVID-19 pandemic has caused disruptions in almost all economies in the world. It is likely to cause supply chain chaos and ultimately force major players and intact industries to rethink and adapt to the global supply chain model. Additionally, the COVID-19 pandemic has also caused a sharp drop in employment and economic growth and caused extensive disturbance of the economy of numerous countries. However, as numerous countries are providing economic packages to fuel the economy amid the COVID-19 pandemic, the data monetization market is likely to gain momentum over the middle term and long term. Supply chain disruptions will be witnessed due to lockdown in many countries which is also expected to cause serious impacts to businesses. Major component producer countries for vehicles such as the USA and China have been severely hit by COVID 19, resulting in a strict lockdown and shutting down the manufacturing industry for a short period.

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The BFSI Segment to Remain the Largest Preferred End User for Data Monetization

The BFSI segment held the highest share of 21.44% in 2019. This is attributable to the growing presence of most data-rich businesses in the banking sector. Banking, financial services, and insurance (BFSI) firms have a huge amount of consumer personal data. This data includes the documents and records of consumers which determine their identity. BFSI organizations manage over 3.8 petabytes of data, according to the industry experts operating in banking and financial security companies.

Moreover, the growing digitalization in the field of BFSI is further driving the growth of the data monetization market for BFSI end-use. A large number of consumers use digital platforms to carry out their banking and financial operations owing to the growing penetration of the internet. Thus, it becomes necessary for the BFSI companies to manage digital consumer data more securely and efficiently.

North America to Be the Dominant Region in Data Monetization Market

As per the geographic trends, the North America region is expected to have the largest revenue in the global data monetization market. The domination of North American in the global market is mainly due to the countries such as the U.S and Canada, which have the most advanced technological infrastructure. The growing adoption of cloud-based solutions by several organizations has led to a higher demand for data monetization.

Additionally, the presence of a large number of IT firms in North America is also contributing to the growth of data monetization in the North American region. Europe has the second-largest share in the total addressable market. The U.K. and Germany generated the largest revenue in the Europe data monetization market. Similarly, the Asia Pacific data monetization market, particularly in China is anticipated to increase significantly by 2025, as the demand for data storage and management solutions is expected to rise in the region over the forecast period.

Companies Operating in the Data monetization Market to Ramp up Production Amidst Covid-19 to Meet the Rising Demands

The market is fragmented and characterized by intense competitive rivalry as several market players are conducting their business operations worldwide. Over the recent past, the data monetization market has witnessed a range of inorganic growth strategies such as acquisitions and mergers, partnerships, and collaboration adopted by companies. For instance, in April 2019, Accenture announced the extension of its partnership with Pitney Bowes Inc. which is enabled Accenture to use and implement data assets of Pitney Bowes Inc. to introduce improvement in existing solutions and create innovative intelligent solutions for its clients. The global aspiration for media and entertainment is creating a premium for streaming services.

For example, Netflix has doubled its projected number of new subscribers and Disney+ has added 22 million subscribers. However, a combination of network slowdowns or failures and analytics strategies that fail to monetize augmented traffic leads is creating a tricky situation for data streaming companies. Enormous data traffic is creating issues while analyzing data.

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