HOME Research Insight Partnerships, Collaborations, Agreements, Mergers and Acquisitions, and New Product Developments, to Grow in the Data Monetization Market

Partnerships, Collaborations, Agreements, Mergers and Acquisitions, and New Product Developments, to Grow in the Data Monetization Market

Data monetization tools have been adopted by several companies across the globe to counter the growing usage of external data sources, advanced analytics, and visualization techniques to make insightful decisions from a large pool of data. The increasing adoption of data monetization tools helps organizations adhere to increasing government compliance and identify innovative ways to create new revenue streams, which, in turn, is driving the data monetization market growth. The strategic partnership is an important growth strategy adopted by the key market players to develop new services and gain traction in the data monetization market. MarketsandMarkets expects the data monetization market to grow from USD 1.42 Billion in 2018 to USD 3.12 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period.

The major vendors of the data monetization market include 1010data (US), Accenture (Ireland), Adastra (Canada), Cisco (US), Dawex (France), Elevondata (US), Emu Analytics (UK), Gemalto (Netherlands), Google (US), IBM (US), iConnectiva (Hong Kong), Infosys (India), Mahindra Comviva (India), Monetize Solutions (US), Narrative (US), NESS (US), NETSCOUT (US), Openwave Mobility (US), Optiva (Canada),  Paxata (US), Reltio (US), SAP (Germany), SAS (US), and Virtusa (US). These players have adopted various growth strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product developments, to grow in the data monetization market.

IBM, with a significant presence in the market, has aspired to become the top market provider of data monetization by focusing on data monetization services. In March 2018, IBM launched Cloud Private for Data, a new data science and machine learning platform for data-driven decision-making. In January 2018, IBM launched 3 distinct analytics platforms that help its customers understand the core capabilities of data discovery and analysis to generate actionable insights from them.

Accenture is another top player in the data monetization market. In the data monetization market, the company offers its services, such as Applied Intelligence, Next-Gen Business Intelligence, Data Management and Integration, and Data Discovery, to its clients to achieve a competitive advantage in the market.  . In February 2018, Accenture acquired Mackevision, a leading global producer of 3D-enabled virtual products. This acquisition would help Accenture provide next-generation virtual reality applications to its clients from various industries to enhance their customer experiences.

Related Reports:

Data Monetization Market by Component (Tools and Services), Data Type, Business Function, Deployment Type (On-Premises and Cloud), Organization Size, Industry Vertical (BFSI, Consumer Goods and Retail, and Telecom), and Region - Global Forecast to 2023

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