Data Monetization Market to Generate $10.9 Billion in Revenue by 2028

SkyQuest Technology Consulting Pvt. ltd.

Global Data Monetization Market was valued at USD 2.78 Billion in 2021, and it is projected to reach a value of USD 10.9 Billion by 2028, growing at a CAGR of 21.54% over the forecast period ( 2022-2028).

Westford, USA, Sept. 05, 2022 (GLOBE NEWSWIRE) — As businesses continue to turn to data to power successful operations, data monetization has become a key focus. Solutions that enable businesses to get the most out of their data assets include data insights and consulting, big data analytics, cloud-based solutions, and business intelligence. According to SkyQuest’s findings, there are several ways businesses can monetize data. Some methods in the global data monetization market include charging for access to data records, selling analytical products or services that use anonymized data, charging for customer behavior insights derived from big data, and charging for the use of algorithms specialized machine learning. Here are three ways businesses are using data monetization to increase profitability:

1. Data insights and insights – Through the analysis of large sets of information, businesses can identify patterns and trends that may not be apparent when examining individual data elements. This helps industries such as healthcare, retail, and finance identify opportunities and improve operations.

2. Big data analytics – By analyzing huge amounts of data with real-time AI, companies in the global data monetization market can spot trends and make better decisions faster than ever. By using techniques such as machine learning and statistical modeling, companies can identify correlations that might otherwise go unnoticed.

3. Cloud-Based Solutions – Offering fast delivery times and a scalable architecture, cloud-based solutions offer businesses a cost-effective way to access data when and where they need it. This is especially useful for organizations with a dispersed workforce or limited IT resources.

The report would help Data Monetization Market players to gain insights into market dynamics, key trends, opportunities, key players, price analysis, consumer base, segmental analysis,… market data analysis, competitive landscape and market share analysis, among others.

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Advertising is the main revenue of the global Garneting domain data monetization market

SkyQuest has released a new report. The study found that despite some challenges (such as regulatory uncertainty), particularly in terms of removing duplicate information from datasets, there are many areas where companies can generate revenue by selling or renting their data. In total, the nine domains studied accounted for more than $1 trillion in revenue in 2021. Within each domain, SkyQuest analysts identified five strategies through which companies can generate monetizable data.

The top three sources of revenue for data-driven companies in the global data monetization market are advertising (28%), selling customer information (25%), and selling applications or services powered by data (21%). However, not all businesses see the same levels of profitability from these methods. Advertising is the most profitable channel for most businesses, generating an average net margin of 33%.

But while selling customer information is a more lucrative source of revenue for some businesses, it’s less so for others. For example, the net margin for selling customer information is 20% for those with $5 million in revenue and 5% for those with $1 billion in revenue. dollars.

SkyQuest’s data monetization market analysis examines how data can be used to drive profitable business processes. They offer the following insights:

  • There is a huge untapped opportunity for businesses to generate revenue from the data they have.

  • Businesses need to adopt a data-centric approach in order to capitalize on this opportunity.

  • Organizations can generate revenue from data in different ways and there is no right answer.

Data monetization, a critical part of enterprise data management strategies, is growing in importance as enterprises strive to create value from their data and discover how to effectively leverage the Big Data and Analytics.

One measure of data monetization efforts is the volume of monetizable data, or the amount of data that could be sold or leased to third parties for use in marketing and other business operations. This topic is addressed by the SkyQuest in a recent study on the data monetization market. The study looked at 9 business areas where monetizable data could be generated and whether these areas are showing growth rates that support the profitable exploitation of large volumes of this data.

SkyQuest has carried out a detailed study of the Global Data Monetization Market and identified current growth opportunities, challenges, major area and their profit margin, revenue generation opportunities, new revenue pockets, key players market analysis, market share analysis, competitive landscape, among others.

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AI offers endless opportunity for the data monetization market

When it comes to data monetization, the sky really is the limit. There are countless opportunities to use artificial intelligence (AI) to optimize and improve the way data is used for various applications in the global data monetization market. SkyQuest has done a detailed study on how AI is performing in different domains for data monetization. Here are three examples of using AI to optimize data monetization in different industries.

First, consider how AI can be used to improve the effectiveness of marketing campaigns. With the help of AI, marketers can quickly identify marketing messages that resonate with target audiences and adjust their campaigns accordingly. This can save a lot of time and money while providing the same level of customer engagement.

Second, AI can be used to improve customer experience in the global data monetization market by automating processes that currently rely on human expertise. For example, instead of customer service staff manually handling orders, AI could be programmed to process those transactions accordingly. This would save businesses time and money, while improving customer satisfaction rates.

Third, AI can be used to optimize business operations in general. For example, AI could be used to better monitor financial data to make strategic decisions about future investments. By using this information in conjunction with other data sources, companies can develop better growth strategies.

An example of how AI is being used to increase revenue is product recommendation. Large online retailers, like Amazon, use machine learning algorithms to recommend products to customers based on past purchases. This allows retailers to generate more sales by targeting specific products and customers. Similarly, banks in the data monetization market are using AI to detect fraud and other illegal activities. AI can also help analysts identify patterns in customer data that may indicate potential risk.

Marketing automation is another growing area where AI is transforming data monetization. With marketing automation, companies can automatically send targeted emails and text messages to users based on their interactions with the company’s website or app. This saves time and money for marketers, who can focus on strategy and execution instead of manual tasks.

For more details on the global data monetization market and the applications and opportunities offered by AI,

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Key players in the global data monetization market

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Marilyn J. Hernandez