pune, Maharashtra -- (SBWIRE) -- 12/11/2023 -- The global Data Monetization Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 19.5% during the forecast period, to reach USD 7.3 billion by 2027 from USD 2.9 billion in 2022, according to research report by MarketsandMarkets™.

The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Microsoft, Oracle, Salesforce, SAS, and TIBCO have majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the data monetization market.

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Microsoft focuses on both organic and inorganic business growth strategies to strengthen its position in the market. As part of its organic growth strategies, the organization focuses on product innovations to gain an advantage over its competitors. Microsoft will be a prominent player in the global data monetization market during the forecast period, with its continuous focus on becoming an exclusive vendor in the market. In June 2020, the company partnered with SAS to become the preferred cloud service provider and integrate SAS's various products with Microsoft's cloud portfolio. It invests a substantial part of its annual revenue in R&D in enhancing and upgrading its products and services in the data monetization market.

Consulting services enables user to gain deep insights into its data assets which further helps in its business growth

Consulting services help in defining deployable use cases for achieving better business performance. Hence, the consulting segment is predicted to be an important contributor to the overall revenue of the services segment.

The data enables companies to identify new business opportunities, improve the ways of engaging with customers, and convert the data into assets, which can create new revenue channels

The data monetization tools help companies in strengthening their risk management models to protect their financial data. Due to technology advancements, data has been increasing at a faster pace, and data monetization tools help enterprises provide valuable insights and a long-term data approach, monitor performance, and enhance operational efficiency.

The sales and marketing data is very useful for organizations to make decisions about a product that is already available in a particular market and developing new products in the market

Customer data is the key to all the activities in the sales and marketing business function. These activities range from initial market/customer research and lead generation to customer acquisition and retention. Companies collect and aggregate volumes of customer data to drive their business. Data monetization plays a crucial role in this business function by enabling sales and marketing teams to find the correlation between different data sets, which would help them better understand customer behavior and gain a 360-degree view of customer interests and preferences. With this knowledge, sales and marketing teams can create the best-fitted strategy to effectively communicate with customers. This would help organizations in effectively designing the marketing mix with elements such as market research, product development, and advertising.

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Oracle Monetization Cloud offers robust rating, discounting, billing, and invoicing capabilities and complies with standards such as ASC606 and IFRS15. The company introduces new features and functionalities in its existing offerings through multiple upgrades to offer enterprises the benefits of latest technologies and innovations in the market. It offers robust offerings to monetize the digital economy, has diversified geographic presence in over 175 countries across the globe, and has strong focus on R&D helps strengthen product and service portfolios.

The company easily expands its reach worldwide through its partner network. It focuses mainly on organic growth strategies to sustain and grow in the data monetization market. For instance, in November 2019, Oracle announced a new cloud-native deployment option for BRM. These strategies enable Oracle to maintain a leading position in the data monetization market. Furthermore, strong financial performance, heavy investment in R&D, and strong direct and indirect sales channels are expected to strengthen the company's market position in future.

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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

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