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New York, USA, Sept. 29, 2022 (GLOBE NEWSWIRE) — Global Data Monetization Market Size is expected to be worth USD 2.03 Billion in 2021 and is estimated to reach up to USD 10.47 Billion by 2030, at a compound annual growth rate (CAGR) of 19.50% from 2021 to 2030. as per the latest research report by Spherical Insights & Consulting.
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Timely access to data is a difficult process since the data produced by data monetization sources is kept in various formats at several physical locations. Advancements in the cloud, software-as-a-service (SaaS), and internet of things (IoT) are generating enormous volumes of data. As a result, if you want real-time data availability, managing and integrating data from several sources is crucial. Better decision-making and a range of ways to monetize the available data to identify new income sources are two benefits of data monetization solutions. The market for data monetization is expected to grow significantly as a result of a few important factors.
In order to help their clients, make decisions regarding cost reduction by optimizing their company operations, new technologies have emerged that offer their clients predictive and prescriptive information. Customers benefit most from this data monetization technique, which also enables product teams to create and extend actionable analytics apps and integrate them with other applications. The COVID-19 outbreak has not negatively impacted the expansion of subscription firms, which make up roughly 50% of all enterprises, despite the global economy’s collapse.
Maximizing income from available data sources is the aim of data monetization. It controls the data generated by technical tools, sensors, and business processes. Businesses can create intelligent new business categories using these data. New business prospects have emerged as a result of the emergence of cutting-edge technologies like cloud…
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