Data Monetization Market, By Method (Direct Monetization and Indirect Monetization), By Industrial Vertical (Finance, Retail, Telecommunication & IT Manufacturing, Healthcare, Energy and Utilities, Government and Defense and Others), By Application (Sales & Marketing, Supply Chain Management, Capital Asset Management and Remote Equipment Monitoring) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East &Africa) - Trends, Analysis and Forecast till 2030

The data monetization market was valued at US$ 2.02 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 22.8% to reach US$ 15.84 billion by 2030.

The technique of monetizing data assets to produce quantifiable financial gains from accessible data sources or real-time streamed data is known as data monetization. It describes the method of utilizing data to deliver measurable financial gains. Using data to inform choices and generate quantifiable changes in corporate performance are examples of internal or indirect strategies. In addition to data created by corporate activities, data monetization considers several additional aspects, including sensors and electronic devices connected to the Internet of Things. The collected data is then utilized to glean insightful information for calculating economic worth or service exchange. By investing in analytics platforms according to requirements, data monetization can assist enterprises in lowering data storage costs or increasing revenue. Three primary methods exist for direct data monetization: selling raw data, offering packaged insights derived from raw data, and providing direct access to a third-party data analytics platform.