The data monetization market is expected to expand with a CAGR of 21.4% over the forecast period of 2017 from 2025 to reach the valuation of US$ 708.86 Bn by 2025. Based on the method, the direct data monetization segment dominated the global data monetization market with a share of 60.1% shares in 2017. Based on the region, North America dominated the market by accounting for revenue of about US$56.1 bn in the same year.
In order to improve customer satisfaction and experience, numerous companies are inclined to the data monetization. The telecom companies are facing intense competition due to changing infrastructures coupled with the emergence of Over-The-Top (OTT) services. This change and emergence of other technology are creating need for strong infrastructure set up to support the new technology. The improvement in the technology and its emergence has propelled adoption of the technology and likely to drive growth of the global data monetization market.
Additionally, rapid advancement and emergence of the in big data is a key trend observed in the market. Adoption of data analytics solution and monetizing utility data is the next logical step to analyze data generated from automation technology. The data is analyzed which is collected basically from the connected homes and smart utility meters, by using this smart data meters, the utilizing companies are trying to improve performance and reduce the cost. In addition, the rise in awareness levels about the benefits of the data monetization such as production, cost reduction, and improving efficiency is driving growth of the global data monetization market.
Obtain Sample For Latest Technology Advancements @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=27758
The data monetization market is driven by the increase in data volume as well as enhanced capabilities to collect a wide range of data types. Large amount and variety of data is available with companies. Therefore, companies are more focused on utilizing this data in their business processes in order to enhance the processes and identify or estimate future trends. The global data monetization market is anticipated to expand significantly during the forecast period, due to the strong adoption of data monetization by mobile carriers and the BFSI sector.
The mobile data traffic increased nearly 40 times from 2008 to 2015. The revenues associated with it tripled during the period. Additionally, many companies are inclined toward the use of data monetization in order to attain enhanced customer experience and expand market reach at a fast pace. Globally, telecom operators are facing competition due to the gradual loss of their core infrastructure revenues.
The emergence of Over-The-Top (OTT) services has led to the gradual loss of top line revenues of communication service providers (CSP). Thus, the need for a strong infrastructure setup has grown significantly. However, concerns related to data privacy and ownership are relatively high. This is a major factor affecting the large-scale monetization of big data. The framework for the collection of personal data is fragmented based on national and regional laws & regulations that govern the extent of permissible processing/analysis and transfer to third parties with and without consent.