The Data Monetization in Telecom Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Data Monetization in Telecom Global Market Report 2024, The data monetization in telecom market size has grown exponentially in recent years. It will grow from $4.47 billion in 2023 to $5.41 billion in 2024 at a compound annual growth rate (CAGR) of 21.0%. The growth in the historic period can be attributed to rise in data generation, smartphone proliferation, competitive landscape, personalized services, regulatory changes.
The data monetization in telecom market size is expected to see exponential growth in the next few years. It will grow to $12.08 billion in 2028 at a compound annual growth rate (CAGR) of 22.2%. The growth in the forecast period can be attributed to 5G implementation, edge computing integration, data monetization platforms. Major trends in the forecast period include AI and machine learning enhancements, partnerships and ecosystem collaboration, monetizing subscriber data.
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 January 2022, according to Matillion, a UK-based software company that provides cloud-native data integration tools, data experts who participated in this poll informed us that data volumes in their firms are expanding, on average, by 63 percent every month. Therefore, the rise in the volume of enterprise data is driving data monetization in the telecom market growth.
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The data monetization in telecom market covered in this report is segmented –
1) By Component: Tools, Services
2) By Data Type: Customer Data, Product Data, Financial Data, Supplier Data
3) By Organization Type: Small and Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Deployment Type: On-Premises, Cloud
Major companies operating in the data monetization in telecom market are developing new products such as advanced cloud based platforms to gain a competitive edge in the market. A cloud-based platform refers to a computing infrastructure and set of services provided over the internet by a cloud service provider. For instance, in February 2023, Snowflake Computing Inc. a US-based cloud-based data warehousing company launched telecom data cloud. This platform is made to aid in the monetization of data and optimization of operational efficiency for telecom service providers. The platform breaks down data silos within organizations by combining Snowflake’s data platform, partner- and Snowflake-delivered solutions, and industry-specific datasets. This enables users to securely access data in near real-time, enrich it with machine learning (ML) models, share it, and analyze it to make better decisions. It is anticipated that the Telecom Data Cloud will assist telecom service providers in maximizing operational efficiency, enabling greater client experiences more quickly, and generating revenue from new data offerings.
The data monetization in telecom market report table of contents includes:
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