Data Monetization Market Size, Share, and Trends 2024 to 2034

Data Monetization Market Size to Reach USD 41.25 Billion by 2034

The global data monetization market size was USD 3.30 billion in 2023, calculated at USD 4.15 billion in 2024 and is expected to reach around USD 41.25 billion by 2034. The market is expanding at a solid CAGR of 25.81% over the forecast period 2024 to 2034. The North America data monetization market size reached USD 1.12 billion in 2023. Several commercial companies are increasingly adopting data monetization to create additional revenue streams and strategic collaboration, which accelerates the growth of the market.

Data Monetization Market Key Takeaways

• North America dominated the data monetization market with the largest market share of 68% in 2023.
• Asia Pacific is expected to expand at a double-digit CAGR of 27.83% during the forecast period.
• By method, the analytics-enabled platform as a service segment has contributed more than 40% of the market share in 2023.
• By organization size, the large enterprise segment has captured the largest market share of 68% in 2023.
• By vertical, the BFSI segment has recorded more than 23% of the market share in 2023.

U.S. Data Monetization Market Size and Growth 2024 to 2034

The U.S. data monetization market size accounted for USD 1.06 billion in 2024 and is projected to be worth around USD 10.74 billion by 2034, poised to grow at a CAGR of 26.06% from 2024 to 2034.

North America dominated the data monetization market with the largest share in 2023. The growth of the market in the region is attributed to the rising industrialization and the number of end-use industries that are driving the number of data are driving the demand for the data monetization market. The presence of the major banking and financial sectors and the telecommunication sector have a higher amount of customer data. The higher adoption of data-driven services and the rising investment in advanced technologies like artificial intelligence, big data, IoT, analytics, and cloud computing by investors in the United States and Canada are contributing to the growth of the data monetization market.

• In September 2023, Amazon Web Services (AWS) announced the launch of the WS for Media & Entertainment (AWS for M&E) solution area, which focuses on monetization. With the integration of purpose-built AWS services and Partner offerings, the solution for M&E allows customers to modernize and simplify licensing, advertising, marketing technology strategies, and subscriptions, increase revenue across viewing platforms, and build deeper, more personalized relationships with audiences.

Asia Pacific is expecting the fastest growth during the forecast period. The rising trend in the adoption of advanced technologies such as artificial intelligence, analytics, and cloud computing into several end-use industries such as retail telecommunication, the increasing number of start-ups, and digitization in businesses, and the rise in the IT sectors that drive the data volume that drives the acceptance of the data monetization in the several sectors which contributed in the expansion of the data monetization market in the region.

Market Overview

Data monetization is the process adopted by several companies or enterprises in which company-generated data is used to generate additional valuation for the company or other measurable economic benefits. Data monetization provides additional benefits to companies, such as lower operational costs and higher revenue. Data monetization by the companies also enhanced the new collaboration between companies with enhanced supplier terms. Data monetization provides a competitive edge, creates a new revenue stream, streamlines operations, and creates strategic partnerships, which helps drive the adaptation of data monetization by several companies or enterprises, which drives the growth of the data monetization market.

Data Monetization Market Trends

• As per the IDC reports, 95% of the organizations digitally consumed some type of outside data KPIs in 2023.
• 29% of $1B+ companies recognize data monetization as an additional source of revenue. The number is reduced for companies with less than $500 million in revenue, with 17% of companies actively monetizing their data.
• 64% of the companies report that they are about to monetize their data in 2024.

Data Monetization Market Growth Factors

• The increasing industrialization and the enterprises that result in the increased number of data volumes and the rising awareness about the data monetization that drives the various advantages to the enterprise in terms of cost reduction, revenue generation, and others that drive the growth of the data monetization market.
• Data monetization provides several benefits in the working environment, such as customer loyalty, data usage optimization, enhanced compliances, increased profitability, lower operating cost, and strategic partnership, and helps in enhancing customer understanding and experiences that drive the adoption of the data monetization by the companies which drive the growth of the market.
• Data monetization is a service that adds value to the organization by helping to generate additional value from customers' information or data. This process adds value to services and products and helps maintain operational processes like decision-making and planning in the organization.
• The rise in the use of artificial intelligence in data processing, the integration of decision-making and data-driven approaches, big analytics, and other technological advancements in organizations is fueling the growth of the market.
• The rising adoption of advanced technologies like artificial intelligence, IoT (internet of things), and big analytics into data monetization that can able to incorporate and synthesize a number of data, IoT records, etc., drives the investments in data monetization by the several leading companies which will boost the growth of the data monetization market.

Data Monetization Market Scope

Market Dynamics

Driver

Rising demand from emerging industries

The increasing demand for data monetization systems by emerging industries is due to its beneficial advantages for companies like achieving diversification, avoiding commoditization, creating unique products, reducing production costs, and offering enhanced value to shareholders and customers. Data monetization plays an important role in companies by leveraging the data into the stream of additional valuation. Organizations have great benefits from the use of data that is already accessed.

Advanced technologies like data science, distributed computing, artificial intelligence, and cutting-edge visualization applications make the data asset class. Additionally, rising technological advancements in the companies result in creating a vast amount of data in the companies that drive the demand for the data monetization market.

Restraint

Security concerns

The rising cases of breaches of data, security concerns, and fraudulent practices on the data platform limit the expansion of the data monetization market. The data is subject to several cyber threats, such as data theft, cyber-attacks, data breaches, abuse, and data loss, that may potentially risk the sensitivity of data. Thus, these factors are restraining the growth of the market.

Opportunity

Data monetization in the retail sector

The retail sector is one of the emerging industries that is adopting data monetization owing to its several offerings. The retail sector has plenty of data from its customer database and loyalty programs. These data are shared via data monetization in accordance with the consumer privacy program, which helps a number of businesses enhance their target customer and consumer experience. With the help of data monetization by the retail sector, businesses such as suppliers can improve inventory planning and pricing. Support and financial companies can offer adjacent customer services such as financing and warranties, and advertisers can perform better on their marketing content. Several retail giants are adopting data monetization, driving the opportunity for market growth.

Method Insights

The analytics-enabled platform as a service segment dominated the data monetization market with the largest share in 2023. The growth of the segment is attributed to the higher adoption of the analytics-enabled platform as a service in data monetization due to its increased offering value to the customers. This method of data monetization provides more flexibility with improved customer value.

BI platform and analytics provide high versatility to customers and scalable data analytics in real-time. The analytics-enabled platform is available in all types of organizational settings, like on-premise and cloud-based data warehouses. It is compatible with all the widest types of data formats. With the expansion in the dependency on data-driven services that drives the growth of the monetization of data.

Organization Size Insights

The large enterprise segment dominated the data monetization market in 2023. The growth of the segment is attributed to the increased adoption of data monetization by large enterprises due to the increased availability of data. Data monetization mainly includes companies with a robust presence in the BFSI, retail, and telecommunication verticals. Large enterprises require data-driven results that are gathered by operationalizing and discovering data management.

Larger enterprises are having the large number of customer base across the globe. Large enterprises are able to afford technological advancements like artificial intelligence, IoT, and cloud computing in data monetization operations. Thus, the increased number of customer data and cost affordability drives the adoption rate of data monetization in the large enterprise segment.

Vertical Insights

The BFSI segment dominated the data monetization market with the largest market share in 2023. The growth of the market is attributed to the rising demand for data monetization by the BFSI segment due to the higher availability of the customer base. The banking sector is considered to be the most data-rich business. Data monetization in banking does not only include revenue generation; it works in the many streams of working as it consults their internal data for developing financial products personalized for their customers.

The banking sector accounts for a large amount of data from different sources, such as customer interaction, transactions, market trends, and demographics. Banking data can be monetized through various strategic initiatives to benefit financial institutes and improve customer loyalty and satisfaction.

Data Monetization Market Companies

• Accenture
• Adstra
• Cisco Systems, Inc.
• Comviva
• Domo, Inc.
• Thales (Gemalto NV)
• Gulp Data
• IBM Corporation
• Infosys Limited
• Monetize.
• Reltio.
• Revelate Data Monetization Corp.
• SAP SE

Recent Developments

• In April 2024, PrivateAI, a world of leading companies pioneering the Data-as-a-service platform, is transforming the way data producers and owners monetize and showcase their intellectual property and complex database with the launch of DAO Maker through a Strong Holder Offering (SHO). The launch is an exciting platform for data enthusiasts and the crypto community and a milestone in data monetization strategies.
• In April 2024, Carv, a data layer platform, raised $10 million in the Series A round led by Tribe Capital and IOSG Ventures. The platform focuses mainly on gaming and AI and allows AI and web3 gaming companies and gamers to monetize and manage their data.
• In May 2024, JPMorgan Chase announced Chase Media. In early April; PayPal announced the launch of a new advertising division, PayPal Ads, for the utilization of the company’s heavy data to help advertisers reach the target audiences better.
• In April 2024, SRC.ai announced the launch of a pioneering AI-powered web3 application. The latest AI platform offers a revolutionary approach to using the vast amount of data generated by daily driving activities. It is a revolutionary step in the future of driving and road safety.
• In June 2024, iExec, the organization that is the platform to own, build, and monetize the web3, announced the launch of an upgraded DataProtector dev tool, dubbed the ‘Monetize Version.’ The latest launch is a new method for DApp users, Web3 developers, and content creators to manage and maintain their digital assets.
• In May 2024, Semasio, a leader in contextual targeting solutions integrated with progressive audience data, launched the Factory that allows the company with first or third-party data to monetize the customer data through Semasio’s robust platform to model, onboard, and contextual or distributed audience segment.
• In January 2024, OpenAI, an Artificial intelligence (AI) firm, is planning to introduce a generative pre-trained transformer (GPT) for creators to monetize their personalized AI systems. OpenAI will launch its personalized AIs in its GPT Store, a marketplace for AI applications.

Segments Covered in the Report

By Method

• Data as a Service
• Insight as a Service
• Analytics-enabled Platform as a Service
• Embedded Analytics

By Organization Size

• Large Enterprises
• SMEs

By Vertical

• BFSI
• E-commerce & Retail
• Telecommunications & IT
• Manufacturing
• Healthcare
• Energy & Utilities
• Others

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa