Data Monetization Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The data monetization market is expected to grow at a CAGR of 21.27% over the forecast period. Data monetization is gaining interest as companies become more interested in discovering the value in their otherwise underutilized data. Monetizing data requires time, energy, and investment and combining business and technical experts with complementary skills.
Key HighlightsThe data monetization market is highly fragmented due to the presence of both global players and small and medium-sized enterprises. Moreover, data monetization is used in various industries to provide vendors with growth opportunities. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
In November 2022, Google launched new dimensions and metrics, enabling customers to see bounce rate, additional UTM parameter values, and conversion rate across various surfaces, including explorations, segments, audiences, reports, and the Google Analytics Data API.
In August 2022, Cisco Systems Inc. partnered with Microsoft for Big and Fast Data Analytics, allowing its clients to improve their operational efficiency and create new revenue streams in the areas of analytics and customer base management.
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