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Data Monetization: Unlocking Revenue Streams in Telecom
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According to The Business Research Company's, The data monetization in telecom market size has grown exponentially in recent years. It will grow from $4.47 billion in 2023 to $5.41 billion in 2024 at a compound annual growth rate (CAGR) of 21.0%. The growth in the historic period can be attributed to rise in data generation, smartphone proliferation, competitive landscape, personalized services, regulatory changes.
The data monetization in telecom market size is expected to see exponential growth in the next few years. It will grow to $12.08 billion in 2028 at a compound annual growth rate (CAGR) of 22.2%. The growth in the forecast period can be attributed to 5G implementation, edge computing integration, data monetization platforms. Major trends in the forecast period include AI and machine learning enhancements, partnerships and ecosystem collaboration, monetizing subscriber data.
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Market Drivers and Trends:
The rise in the volume of enterprise data is expected to propel the growth of data monetization in the telecom market going forward. Enterprise data refers to information that users within a company typically exchange across departments and/or geographical areas. Most telecommunications companies currently have raw enterprise data, which is used to determine how to change their business model to include new channels for data monetization. For instance, in January 2022, according to Matillion, a UK-based software company that provides cloud-native data integration tools, data experts who participated in this poll informed us that data volumes in their firms are expanding, on average, by 63 percent every month. Therefore, the rise in the volume of enterprise data is driving data monetization in the telecom market growth.
Major companies operating in the data monetization in telecom market are developing new products such as AI and ML-powered charging solution to gain a competitive edge in the market. AI (Artificial Intelligence) and ML (Machine Learning) powered charging solutions refer to the use of advanced technologies to optimize and enhance the charging processes in various industries, particularly in electric vehicles (EVs), consumer electronics, and other battery-powered devices. For instance, in September 2023, Nokia Corporation, a Finland-based technology company launched enterprise edge charging software. Enterprise edge charging software is intended to facilitate the charging of services at the edge of 5g networks by communication service providers (CSPs) and corporations. With the help of AI and ML, the solution gives businesses and CSPs greater control over network data, allowing them to swiftly develop new market offers and prices. It is built on a microservices-based architecture that can be used in any cloud.
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Major Key Players of the Market:
Intel Corporation, International Business Machines Corporation, Telefónica S.A., Oracle Corporation, Verizon Communications Inc, Google LLC, Microsoft Corporation, Cisco Systems Inc, SAP SE, Salesforce.com Inc., Capgemini SE, Infosys Limited, Atos SE, SAS Institute Inc., TIBCO Software Inc., Virtusa Corporation, NetScout Systems Inc, Domo Inc, ThoughtSpot Inc, Mahindra Comviva, Sisense Inc, Redknee Inc., 1010data Inc., Lynx Software Technologies Inc, Paxata Inc., SQLstream Inc, Adastra Corporation, Dawex Systems SAS, iConnectiva Communications Inc.
Data Monetization in Telecom Market 2024 Key Insights:
• The data monetization in telecom market size is expected to see exponential growth in the next few years. It will grow to $12.08 billion in 2028 at a compound annual growth rate (CAGR) of 22.2%.
• Enterprise Data Surge Fuels Robust Growth In Data Monetization In Telecom Market
• Innovative Trends In Data Monetization Through The Emergence Of AI And ML-Powered Charging Solutions In Telecom
• North America was the largest region in the data monetization in telecom market in 2023
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