According to the report titled ‘Global Data Monetization Market Size study by Component (Tools and Services), by Deployment Mode (On-Premises and Cloud), by Organization Size (Large Enterprises and Small and Medium-Sized Enterprises), by Data Type (Consumer data, Product data, Financial data and Supplier data), by Business Function (Sales and marketing, Supply chain management, Operations and Finance), by Vertical (Banking, Financial Services, and Insurance (BFSI), Telecommunication, Consumer Goods and Retail, Information Technology (IT), Healthcare, Manufacturing, Media and Entertainment, Transportation and Logistics and Energy and Utilities) and Regional Forecasts 2020-2027’, available with Market Study Report, global data monetization market was valued at USD 1.9 billion in 2019 and is expected to grow with a CAGR of 21.7% during 2020-2027.
 

Rising business data volume & variety, inclination towards data-driven decision-making, increasing usage of external data sources, widespread acceptance of advanced analytics & visualization, low cost of data storage, and escalating volume of data generation are driving the growth of global data monetization market.
 

Notably, data monetization generates high revenue by storage, assessment, distribution, and use of data which either accessible or generated by real-time streaming. It allows companies to turn raw/aggregated data from multiple sources into something useful, to make accurate business decisions.
 

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Moreover, the launch of new products & services and other strategic partnerships by key industry players will further facilitate the business scenario. In fact, in July, 2019, Microsoft released Microsoft Azure service that lets companies share their internal data and focuses on offering its customers the service to share information in order to comply with regulations and privacy policies.
 

Similarly, Oracle released cloud-native deployment option for BRM (billing & revenue management) in October 2019 to support emerging 5G-enabled use cases for CSPs. Hence, incorporation of cloud solutions and emphasis on developing modern monetization solutions will impel the industry size. However, changing regulatory policies, limited organizational capabilities, and cultural barriers are likely to impede worldwide data monetization industry landscape over the study period.
 

Citing the regional landscape, worldwide data monetization market sphere is segmented into North America, Latin America, Asia Pacific, Europe, and Rest of the World. The report claims that Asia Pacific holds a significant market share currently and is expected to grow further over the assessment period. The regional growth is credited to commercialization of IoT, AI, Big Data technologies and their early adoption.
 

Leading organizations influencing global data monetization market trends are Domo Inc., Qlik (Qliktech), International Business Machines Corporation (IBM), TIBCO Software Inc., Sisense, SAS Institute, SAP SE, Oracle Corporation, Salesforce.com Inc., and Microsoft Corporation.