Summary
Major players in the data monetization market are Accenture plc, Capgemini SE, Cisco Systems Inc, Google LLC, Intel Corporation, Lynx Software Technologies Inc, Redknee Inc., SAP SE, NetScout Systems Inc, IBM, iConnectiva, 1010data, SQLstream Inc, Mahindra Comviva, Infosys Limited, and Atos.
The global data monetization market is expected to grow from $3.08 billion in 2021 to $3.76 billion in 2022 at a compound annual growth rate (CAGR) of 22.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The monetization of data in the telecom market is expected to grow to $8.28 billion in 2026 at a CAGR of 21.8%.
Data monetization in the telecom market consists of sales of data monetization services by entities (organizations, sole traders, and partnerships) that use data and analyse it to learn more about their own business in order to enhance network performance, boost marketing efforts, and improve sales and customer experiences.Data monetization in telecom refers to the practise of data monetization on unstructured data from the telecommunication industry to create valuable insights and obtain economically quantifiable benefits.
This assists telecom service providers in generating valuable insights, increasing sales, and improving customer experience.
The main components of data monetization in the telecom market are tools and services.The tools refer to various analytical tools like BI software and data integration tools and are used to process large amounts of data to create meaningful information.
The data types are customer data, product data, financial data, and supplier data.The organisation types are small and medium-sized enterprises (SMEs) and large enterprises.
On-premises and cloud deployment types are available.
In 2021, North America was the largest region in terms of data monetization in the telecom market. The regions covered in this data monetization in telecom market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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 November 2020, according to 3RDi, a US-based AI-powered enterprise solution, every 1.2 years, the amount of enterprise data across all organisations in the world doubles. Further, in March 2020, according to Forbes, a US business magazine, to structure and optimise enterprise data, 67% of businesses already rely on data integration, and 24% aim to do so during the next 12 months. Therefore, the rise in the volume of enterprise data is driving data monetization in the telecom market.
Monetizing data with advanced analytics is a key trend gaining popularity in data monetization in the telecom market.Major companies operating in the data monetization market in the telecom market are focused on developing and acquiring advanced analytics to sustain their position in the market.
For instance, in January 2020, Quantzig, an India-based provider of data monetization in telecom, launched advanced telecom data analytics solutions that help to tackle the complexities in the telecom industry, including data monetization using big data, artificial intelligence, and machine learning with the internet of things. It aids the telecommunications firms that have begun using client data to improve various business procedures with advanced analytics capabilities.
In May 2022, Atos, a France-based information technology company that provides data monetization in telecom, partnered with VMware for an undisclosed amount. This partnership will help both companies to provide a comprehensive range of abilities to accelerate the building of "Data Spaces." Platforms called "Data Spaces" enable increased data sharing, cooperation, and monetization amongst businesses or industries, including telecom. VMware is a US-based cloud computing and virtualization technology company that helps telecom service providers build, operate, protect, and monetize their telco clouds.
The countries covered in the data monetization in telecom market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The data monetization in telecom market research report is one of a series of new reports that provides data monetization in telecom market statistics, including global market size, regional shares, competitors with a data monetization in telecom market share, detailed data monetization in telecom market segments, market trends and opportunities, and any further data you may need to thrive in the data monetization in the telecom industry. This data monetization in telecom market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
