According to the latest market research study published by P&S Intelligence, the global data monetization market is poised to soar from USD 4.4 billion in 2024 to an impressive USD 16.5 billion by 2032, registering a remarkable CAGR of 17.8% during the forecast period. This robust growth is primarily driven by the exponential increase in data generation and the significant drop in data storage costs, fueled by continuous technological progress. As industries embrace digital transformation, the demand for monetizing data has surged, particularly through advanced analytics and visualization tools that unlock strategic business value.
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In particular, the manufacturing sector is witnessing a
surge in data monetization practices with the onset of Industry 4.0.
Organizations are leveraging connected systems and real-time analytics to
optimize operations and deliver personalized services. For example, Rolls-Royce
has equipped its engines with sensors to facilitate real-time performance
monitoring and enhance its aftersales support. Such innovative applications
underscore the growing importance of data as a strategic asset across sectors.
Key Insights
- In
terms of components, solutions dominate the market as enterprises
increasingly rely on tailored data analytics software to drive business
decisions. However, services are projected to grow faster, at a CAGR of
19.0%, due to the rising need for consulting, training, and ongoing
support.
- By
method, analytics-as-a-service is the leading and fastest-growing
category, contributing 40% of the revenue in 2024. This reflects the
demand for flexible, real-time analytics powered by business intelligence
platforms.
- Embedded
analytics ranks second, favored by developers for enhancing user
satisfaction and competitive differentiation. This method is widely
adopted in ERP and CRM systems for functions such as predictive analytics
and machine learning.
- Insight-as-a-service
is gaining traction due to the proliferation of big data and the need for
customized, actionable insights. This method is popular among companies
aiming to improve customer experience and operational efficiency.
- Among
end users, the BFSI sector leads the market owing to massive daily data
generation and evolving payment infrastructures. Telecom and IT follow
closely, with monetization helping reduce customer churn.
- The
e-commerce & retail industry is expected to witness the fastest
growth, at a CAGR of 20.0%, driven by its heavy reliance on customer data
for enhancing engagement, inventory alignment, and personalized marketing.
- Large
enterprises hold a 70% market share, capitalizing on their vast networks
and capacity for data utilization. SMEs, however, are anticipated to
expand more rapidly, leveraging cloud-deployed AI-integrated tools for
informed decision-making.
- Cloud
deployment dominates and is also projected to grow at the highest CAGR of
20.0%, offering scalability, cost-efficiency, and accessibility. The
increasing popularity of hybrid models and AI-enhanced cloud platforms
further boosts this trend.
- Regionally,
North America holds the largest share at 35% in 2024, led by the U.S. due
to the presence of leading vendors and widespread adoption. Canada stands
out with a projected CAGR of 18.5%.
- Asia-Pacific
is the fastest-growing regional market, at a CAGR of 19.0%. China accounts
for the largest share and fastest growth, driven by widespread
digitization and the expansion of MSMEs. India also shows promise with
progressive government data policies.
- Key players shaping the competitive landscape include Microsoft, Oracle, Salesforce, IBM, SAS Institute, Infosys, AWS, Google, Hewlett Packard Enterprise, Teradata, Accenture, and Cognizant. Many of these firms are expanding their offerings through AI and cloud partnerships.
- Recent developments include Oracle’s expansion of its Health Clinical Data Exchange, Salesforce integrating AI into e-commerce platforms, and IBM launching its Apptio suite on Azure. Microsoft also deepened its alliance with Palantir Technologies for enhanced defense analytics solutions.
