Global Data Broker Market Size, Trends and Growth opportunity, By Data Type (consumer data and business data), By End User (BFSI, retail, automotive, construction and others), By region and forecast till 2027

Global Data Broker Market Size, Trends and Growth opportunity, By Data Type (consumer data and business data), By End User (BFSI, retail, automotive, construction and others), By region and forecast till 2027.

Global Data Broker Market

The global data broker market was valued at US$240.1Billion in 2021 and it is expected to reach at US$458.4 Billion in 2027 at a CAGR of 6.8% during forecast period 2022-2027.

A data broker is a company that gathers data from multiple sources, processes it to make it richer, cleaner, or more analytical, and then sells licences to other businesses. Data brokers can also directly licence another company's data or handle another organization's data to provide them with improved outcomes. An earlier method gave rise to the contemporary data broking method. Data collection for the purpose of targeting and acquiring new customers through advertising has long been practised by businesses and organisations. On the other hand, the availability and volume of data about every single person has increased dramatically in the IT sector. More information about customers than was previously thought is now easily gathered and maintained by businesses.

Market Drivers

The widespread use of mobile devices and the rising number of social media users worldwide are producing enormous volumes of consumer data that can be used to achieve competitive advantages. Customers now gain from data broking since it gives them the opportunity to find items that suit their demands and are less expensive. Data broking is increasingly helping people find jobs as they register their information on platforms like LinkedIn, Indeed, and others.

Market Restraints

Consumers' past behaviour can be used by identity thieves to forecast their passwords and other authentication credentials, hence it may be risky to store data about them indefinitely. Customers cannot see the scoring procedures in some marketing items. Therefore, consumers are unable to deal with the negative consequences of low scores, such as limited advertising, inconsistent levels of service from businesses, etc.

Market Segmentation

The global data broker market segmented into data type and end user. On the basis of data type it segmented into consumer data and business data. On the basis end user of it segmented into BFSI, retail, automotive, construction and others.

Regional Analysis

The global data broker market segmented into five regions North America, Europe, Latin America, Asia Pacific, Middle East and Africa. It is projected that North America would represent a significant portion of the global data brokers industry. The expansion of the market in the region is related to the existence of significant data broker businesses and unregulated data broker services in the U.S. Due to the growing volumes of data in the area, the Asia Pacific data brokers market is anticipated to grow significantly during the projected period.

Key Players

Various key players are listed in this report such as Acxiom Corporation, Experian Plc., Equifax, Inc., CoreLogic, Oracle Corporation (DataLogix), Moody’s Corporation, Epsilon, FICO, Intellius, and LexisNexis.

Market Taxonomy

By Data Type

Consumer Data

Business Data

By End User

BFSI

Retail

Automotive

Construction

Others

By Region

North America

Latin America

Europe

Asia Pacific

Middle East

Key Question Addressed by the Report

What are the Key Opportunities in Global Data Broker Market?

What will be the growth rate from 2022 to 2027.

Which segment/region will have highest growth?

What are the factors that will impact/drive the Market?

What is the role of key players in the value chain?

What is the competitive Landscape in the industry?