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Data Monetization Market: Growing Data Ownership and Privacy Risks in Market to Throw Wrench in Works
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TMR foresees the global data monetization market to rise at a 21.4% CAGR between 2017 and 2025 to be valued at a US$708.8 bn by the final forecast year. By method, direct data monetization could take a leading position in the market, taking into account its 60.1% share achieved in 2017. Regionally, North America is anticipated to secure a king’s share of the market, considering its US$56.1 bn valuation attained in the same year.
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Data monetization is predicted to gain demand with increasing amount of data generated through different platforms. People and even organizations are able to connect electronically due to aggressive technological development observed in the recent years. According to the TMR report, data that is being produced grows tenfold after every five years approximately. Rising expenditure on mobile devices is expected to favorably influence purchase decisions and commerce and supplement the growth of mobilization. This is piling up massive amounts of data in various types of organizations. The data could be used to determine future trends and enhance business processes.
Vendors operating in North America are projected to concentrate on delivering efficient and advanced data monetization software, services, and platforms. The IT and telecom industry could offer a wealth of opportunities in the regional market.
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High concerns regarding data ownership and privacy is projected to hamper the growth of the global data monetization market. Gradual loss of core infrastructure revenue could pose challenges to telecom operators. Communication service providers (CSPs) are expected to face top-line revenue loss with the advent of over-the-top (OTT) services. However, the demand for data monetization could see a rise ensued from fast development of big data and big data analytics solutions. Utility data monetization could be the next logical step in the evolution of automation technology data generated from smart utility meters, connected homes, and other sources.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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