GITNUX MARKETDATA REPORT 2024

Data Marketplace Industry Statistics

The data marketplace industry is experiencing rapid growth, with a projected market size of $42.5 billion by 2027, driven by the increasing demand for data-driven insights and the expanding use of artificial intelligence and machine learning technologies.

Highlights: Data Marketplace Industry Statistics

  • The global data monetization market size was valued at $1.32 billion in 2019.
  • The global data monetization market is estimated to reach $4.44 billion by 2027.
  • The data monetization market is expected to grow at a compound annual growth rate (CAGR) of 24.1% from 2020 to 2027.
  • North America dominated the global data monetization market in 2019, with a share of 40.6%.
  • As of 2019, BFSI was the largest end-use segment and accounted for more than 25% of global revenue.
  • Telecommunications is projected to expand at the fastest CAGR of 26.5% from 2020 to 2027 in the data monetization market.
  • The global data broker market was valued at over $200 billion in 2020.
  • The global data broker market is set to hit $350 billion by 2025.
  • Europe held a significant market share in the overall data broker market in 2020.
  • The Data as a Service Market size is expected to grow from USD 9.3 billion in 2021 to USD 48.9 billion by 2026.
  • The total annual spend on analytics data in financial services and insurance industries will exceed $260 billion by 2022.
  • In 2022, retail is expected to spend approximately $90 billion on big data and business analytics solutions.
  • North America is expected to have the highest Data as a Service market share during the forecast period.
  • The banking, financial services, and insurance (BFSI) vertical is expected to hold the highest market share in the global Data as a Service market.
  • The ecommerce sector spent around $33 billion on big data and business analytics solutions in 2022.
  • The global customer data platform market size was valued at USD 1.06 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 33.9% from 2021 to 2028.
  • In 2020, the market size of data lakes was USD 7.9 billion, and it is expected to reach USD 31.0 billion by 2028, growing at a CAGR of 20.6% during 2021–2028.
  • The healthcare and life sciences industry to have the highest CAGR during the forecast period in the Data as a Service market.
  • BFSI accounted for over 30% revenue share in the global customer data platform (CDP) market in 2020.

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The Latest Data Marketplace Industry Statistics Explained

The global data monetization market size was valued at $1.32 billion in 2019.

The statistic indicates that the global data monetization market had a value of $1.32 billion in 2019, representing the total revenue generated from the buying and selling of data as a commodity. Data monetization involves converting data into valuable assets by extracting insights, trends, and patterns for commercial purposes. The market size reflects the scale of economic activity within the data monetization industry, encompassing various sectors such as marketing, finance, healthcare, and technology. The growth of this market signifies the increasing recognition of data as a strategic asset and the growing importance of leveraging data for driving business decision-making, innovation, and competitiveness within the global economy.

The global data monetization market is estimated to reach $4.44 billion by 2027.

The statistic ‘The global data monetization market is estimated to reach $4.44 billion by 2027’ indicates the projected value of the market for data monetization services and solutions on a global scale by the year 2027. Data monetization involves generating revenue from data assets through various means such as selling data, creating data products, or using data for targeted marketing. The estimated value of $4.44 billion reflects the anticipated growth and increasing importance of data monetization in the business landscape, driven by the proliferation of data sources, advancements in technology, and the growing recognition of the value of data-driven insights for decision-making and innovation.

The data monetization market is expected to grow at a compound annual growth rate (CAGR) of 24.1% from 2020 to 2027.

The statistic indicates that the data monetization market is projected to experience significant growth over the period from 2020 to 2027. The compound annual growth rate (CAGR) of 24.1% suggests a steady and substantial expansion in the market size and revenue generated through data monetization strategies during these years. This growth rate reflects a strong and consistent upward trend in the adoption of data monetization practices across various industries, driven by advancements in technology, increasing volumes of data generation, and the recognition of the value of data as a strategic asset. Overall, this forecast highlights the increasing importance and potential of leveraging data for monetization purposes in the coming years.

North America dominated the global data monetization market in 2019, with a share of 40.6%.

This statistic indicates that North America held a significant position in the global data monetization market in 2019, capturing a substantial market share of 40.6%. This domination suggests that North American companies were actively leveraging their data assets to generate revenue through various means such as selling data, offering data-based services, or using data for targeted advertising. The strong presence of North America in the data monetization market highlights the region’s advanced technology infrastructure, robust data privacy regulations, and high levels of digital innovation, contributing to its leadership in monetizing data for business purposes.

As of 2019, BFSI was the largest end-use segment and accounted for more than 25% of global revenue.

The statistic indicates that as of 2019, the Banking, Financial Services, and Insurance (BFSI) sector was the largest end-use segment in terms of revenue contribution to the global economy, representing more than a quarter (25%) of total revenue. This suggests that the BFSI industry, which includes a wide range of financial institutions such as banks, insurance companies, and investment firms, plays a significant role in driving economic activity on a global scale. The dominance of the BFSI sector highlights its importance in facilitating financial transactions, managing risks, and providing essential services to individuals and businesses worldwide.

Telecommunications is projected to expand at the fastest CAGR of 26.5% from 2020 to 2027 in the data monetization market.

The statistic indicates that the telecommunications sector is expected to experience significant growth in terms of its Compound Annual Growth Rate (CAGR) in the data monetization market between 2020 and 2027. A CAGR of 26.5% suggests a rapid expansion in the telecommunications industry’s utilization and monetization of data during this time period. This growth rate reflects the increasing importance of data-driven strategies and technologies within the telecommunications sector, resulting in substantial opportunities for leveraging data for various business purposes, such as optimizing operations, improving customer experiences, and driving innovation. This projection highlights telecommunications as a key player driving growth and innovation in the data monetization market over the specified time frame.

The global data broker market was valued at over $200 billion in 2020.

The statistic stating that the global data broker market was valued at over $200 billion in 2020 indicates the significant economic scale and importance of the data brokering industry worldwide. Data brokers are organizations that collect, analyze, and sell information about individuals and businesses for various purposes. The high valuation of the market reflects the growing demand for data-driven insights and services across multiple sectors such as marketing, finance, healthcare, and more. This statistic implies that data has become a valuable commodity in the modern digital economy, with data brokers playing a crucial role in enabling access to, and monetization of, vast amounts of information. Such a substantial market value underscores the pervasive influence and impact of data brokers on the global business landscape.

The global data broker market is set to hit $350 billion by 2025.

The statistic indicates that the global data broker market is projected to reach a value of $350 billion by the year 2025. This suggests a substantial growth in the industry, reflecting the increasing importance and reliance on data-driven decisions in various sectors such as marketing, finance, healthcare, and more. Data brokers act as intermediaries who collect, analyze, and sell data to organizations looking to gain insights, target specific audiences, or make informed business decisions. The significant market size forecasted for 2025 underscores the continued growth and demand for data services, highlighting the vital role that data brokers play in the modern economy.

Europe held a significant market share in the overall data broker market in 2020.

The statement “Europe held a significant market share in the overall data broker market in 2020” indicates that a considerable portion of the data broker industry’s market activities were concentrated in Europe during the specified year. This suggests that European data broker companies, or those operating within the European market, played a prominent role in the global data broker landscape in 2020. Factors such as economic stability, regulatory environment, technological advancements, and consumer demand may have contributed to Europe’s significant market presence in the data broker industry during that period.

The Data as a Service Market size is expected to grow from USD 9.3 billion in 2021 to USD 48.9 billion by 2026.

The statistic states that the Data as a Service (DaaS) Market is projected to experience significant growth over the next five years, with its size expanding from USD 9.3 billion in 2021 to USD 48.9 billion by 2026. This growth forecast suggests a compound annual growth rate (CAGR) over the period, indicating a substantial increase in demand for data services. The rising adoption of cloud computing, big data analytics, and artificial intelligence technologies is expected to drive the market expansion as organizations seek efficient and scalable ways to access, manage, and utilize data to make informed business decisions. This statistic reflects the growing importance of data-driven strategies across industries and the evolving landscape of data management and analytics services.

The total annual spend on analytics data in financial services and insurance industries will exceed $260 billion by 2022.

The statistic indicates that the combined spending on analytics data within the financial services and insurance industries is projected to surpass $260 billion by the year 2022. This substantial investment highlights the growing significance of data analytics within these sectors, suggesting a strong commitment to leveraging data-driven insights and technology to enhance decision-making processes, improve operational efficiency, and drive innovation. The forecasted increase in spending reflects a strategic shift towards prioritizing data analytics as a critical tool for gaining a competitive edge, improving customer experiences, managing risks, and driving sustainable growth in an increasingly data-driven business environment.

In 2022, retail is expected to spend approximately $90 billion on big data and business analytics solutions.

The statistic states that in the year 2022, the retail sector is projected to allocate around $90 billion towards investing in big data and business analytics solutions. This substantial financial commitment illustrates the growing importance placed by the retail industry on leveraging data-driven insights to enhance operational efficiencies, customer experiences, and overall business performance. By harnessing the power of big data and analytics, retail companies aim to better understand consumer behavior, optimize pricing strategies, streamline supply chain operations, personalize marketing initiatives, and ultimately drive business growth and competitiveness in an increasingly data-driven marketplace.

North America is expected to have the highest Data as a Service market share during the forecast period.

This statistic suggests that North America is projected to hold a significant portion of the Data as a Service market among all regions in the upcoming forecast period. This could be due to various factors such as the presence of established companies offering data services, a strong technology infrastructure, favorable government regulations, and a robust demand for data services in industries like finance, healthcare, and technology within the region. Additionally, North America may also benefit from intensive research and development activities, a skilled workforce, and a culture of innovation contributing to its dominance in the Data as a Service market share compared to other regions.

The banking, financial services, and insurance (BFSI) vertical is expected to hold the highest market share in the global Data as a Service market.

This statistic indicates that within the global Data as a Service (DaaS) market, the banking, financial services, and insurance (BFSI) industry is projected to have the largest portion of market dominance compared to other industry verticals. This implies that organizations in the BFSI sector are likely to invest the most in DaaS solutions, which provide access to data for a fee without the need for managing infrastructure. The high market share for the BFSI vertical suggests that these companies are recognizing the value of leveraging data as a service to improve decision-making, enhance customer experiences, mitigate risks, and drive overall business growth within the highly data-driven financial services sector.

The ecommerce sector spent around $33 billion on big data and business analytics solutions in 2022.

The statistic indicates that the ecommerce sector invested a significant amount, approximately $33 billion, in big data and business analytics solutions within the year of 2022. This substantial financial commitment signifies the sector’s recognition of the importance of leveraging data-driven insights to improve decision-making processes, enhance customer experiences, optimize operations, and drive business growth. The investment in big data and analytics solutions underscores the industry’s strategic focus on harnessing the power of data analytics to unlock valuable insights, achieve competitive advantages, and adapt to the rapidly evolving digital landscape within the ecommerce space.

The global customer data platform market size was valued at USD 1.06 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 33.9% from 2021 to 2028.

The statistic provided states that the global customer data platform (CDP) market was worth USD 1.06 billion in 2020 and is forecasted to grow at a fast pace with a compound annual growth rate (CAGR) of 33.9% from 2021 to 2028. This indicates a significant upward trend in the market size and adoption of CDP solutions by businesses worldwide. The high CAGR suggests a strong demand for CDP platforms, which are used by companies to collect, organize, and analyze customer data across various touchpoints. This growth trajectory indicates the increasing importance of leveraging customer data for personalized marketing strategies, improved customer experiences, and overall business success in the evolving digital landscape.

In 2020, the market size of data lakes was USD 7.9 billion, and it is expected to reach USD 31.0 billion by 2028, growing at a CAGR of 20.6% during 2021–2028.

The statistic indicates that in 2020, the market size of data lakes was estimated to be USD 7.9 billion. Looking ahead to 2028, the market is projected to expand significantly to reach USD 31.0 billion, representing a compound annual growth rate (CAGR) of 20.6% during the period of 2021-2028. This indicates a strong and steady growth trend in the data lakes market over the forecasted timeframe, suggesting a rising demand for data storage and analytics solutions. The percentage growth rate of 20.6% illustrates the anticipated annual rate at which the market size is expected to increase, pointing towards a lucrative and evolving industry landscape for data lakes technologies in the coming years.

The healthcare and life sciences industry to have the highest CAGR during the forecast period in the Data as a Service market.

This statistic indicates that within the Data as a Service market, the healthcare and life sciences industry is expected to experience the highest Compound Annual Growth Rate (CAGR) during the forecast period compared to other industries. This suggests that there is a strong and growing demand for data services within the healthcare and life sciences sector, potentially driven by the need for data-driven decision-making, personalized medicine, and advancements in technology such as artificial intelligence and precision medicine. The higher CAGR in this industry reflects the increasing importance and investment in data services to drive innovation, improve patient outcomes, and optimize operations within healthcare and life sciences organizations.

BFSI accounted for over 30% revenue share in the global customer data platform (CDP) market in 2020.

In 2020, the Banking, Financial Services, and Insurance (BFSI) sector contributed to more than 30% of the total revenue generated in the global customer data platform (CDP) market. This statistic indicates that the BFSI industry played a significant role in driving the growth and adoption of CDP technology, which enables organizations to collect, integrate, and analyze customer data from various sources to improve marketing and customer engagement strategies. The high revenue share attributed to the BFSI sector suggests that these companies recognized the value and impact of leveraging CDP solutions to enhance their customer experiences and gain a competitive edge in the market.

References

0. – https://www.www.fortunebusinessinsights.com

1. – https://www.www.marketsandmarkets.com

2. – https://www.www.grandviewresearch.com

3. – https://www.www.statista.com

4. – https://www.www.bccresearch.com

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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