Global Data Monetization Market-Technologies, Market share and Industry Forecast to 2024
LONDON, Oct. 18, 2018 /PRNewswire/ -- Data monetization refers to the usage of data assets to generate value to the business organization.
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It leads to realization of financial value that is held by data in an organization. Global data monetization market is expected to rise with the CAGR of about 17.00% during the forecast period 2017-2024. Rising adoption of data driven decision making contributes towards the growth of global data monetization market during the forecast period. However, varying regulatory policies structure restricts the market growth during the forecast period. Also, rising adoption of artificial intelligence for data processing is an opportunity and rising complexities in data structures acts as a challenge for global data monetization market during the forecast period.
Geographically, global data monetization market report has been segmented in North America, Asia Pacific, Europe and Rest of World. North America is expected to dominate the market during the forecast period due to increasing demand for the automation of business decision making process among enterprises, technological innovations, etc. However, Asia Pacific is expected to be the fastest growing region in global data monetization market during the forecast period due to increasing adoption of data monetization services from different end users, etc.
The growth in global data monetization market is also influenced by the presence of major players such as Cisco Systems, Inc. (United States), IBM Corporation (United States), Google Inc. (United States), Accenture (Republic of Ireland), Gemalto (Netherlands), etc. to gain competitive advantage, the major players of global data monetization market are adopting various strategies such as mergers & acquisitions, product launch, collaboration, etc. during the forecast period.
The report on the global data monetization market is segmented on the basis of component, data type, business function, deployment type, organization size and industry vertical. Components includes tools and services. Data type includes customer data, product data, financial data and supplier data. Business function includes sales and marketing, supply chain management, operations, finance and others. Deployment type includes cloud and on-premises. Organization size includes large enterprises and small and medium-sized enterprises. Vertical segment includes banking, financial services, and insurance, telecom, consumer goods and retail, media and entertainment, government and defense, manufacturing, transportation and logistics, energy and utilities, healthcare and others, Banking, Financial Services, and Insurance (BFSI) segment is expected to dominate the market during the forecast period due to rising need to enhance operational efficiencies, enhance the customer experience, etc.
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