Data Monetization Market Share, Growth and Forecast Report 2024-2030

NEW YORK - Feb. 6, 2024 - PRLog -- The data monetization market will rise at a compound annual growth rate of 18.2% in the years to come, to reach a value of USD 9,421.4 million by 2030. The key factors which are attributed for the growth of the industry include the huge data generated and reduced cost of data storage, because of tech progressions.

Furthermore, the quick acceptance of cutting-edge analytics and visualization solutions is also powering the growth of the industry.

Large enterprises had a share of over 70% in the past, as they are frequently accepting new technologies to get a larger share and increase overall production and competence.

Furthermore, large companies have large corporate networks and several revenue streams. Thus, they create a massive amount of data. While, the SMEs category will witness a higher rate, of 22.7%, in the years to come, because of the numerous startups that make use of data analytics for making business decisions.

North America data monetization market had around 35% revenue share in the past, because of the increase in the penetration along with the acceptance of software, data monetization services, and platforms, and the existence of numerous data providers.

In this reason, the U.S. contributes a larger revenue with a maximum number of data monetization vendors in the country. Though, Canada will grow significantly at a rate of 13.9%by the end of this decade.

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The analytics-as-a-service method had the largest share of about 40% in the past, and the category will maintain its dominance in the years to come, with a share of more than 50% by 2030. This is because of its flexible nature, which offers data analytics in real-time with the business intelligence and analytics platform.

Recently, key players in the industry have been actively involved in launching innovations in their products and physical expansions, accompanied by other developing activities to improve their competences and offerings.

It is because of the decreased cost of data storage, the demand for data monetization will continue to grow in the years to come as well.