Artificial Intelligence
Worldwide Data Monetization Industry to 2026 – North America is Expected to Hold Major Share
Dublin, June 18, 2021 (GLOBE NEWSWIRE) — The “Data Monetization Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The market for data monetization is expected to reach a CAGR of 15.7% during the forecast period (2021-2026). Data has become a central resource for the majority of the organization to stay competitive by extracting maximum value from various types of data. The exponential growth of IoT devices, growing internet penetration, data accessibility at lower rates, increasing adoption of external data sources is resulting in the generation of big data at an increasing rate allowing businesses to harness this data through advanced analytical and visualization tools for efficient data-driven decision making resulting in increased profitability.
Moreover, data can be monetized directly by selling raw data, or by taking out insights from processed and analyzed data. For instance, big giants like Google monetize data through real-time bidding and continue to optimize their platform’s experience by reinvesting data into their platform. Additionally, by analyzing consumer behavior, creating new data-based features such as reviews, suggestions, and personalized content makes more customers come back to the platform.
Furthermore, continuous rise in the volume of enterprise data, increased focus to generate new revenue streams, and a rise in awareness towards the potential benefits of data monetization are also proliferating the growth of the market. For instance, ride-hailing companies such as Uber, Lyft, and Ola use location-based analytics to gather insight about it’s customer’s data that is extracted from pick-up and drop-off locations. Uber might sell this data to other businesses with user’s permission that can be further used by other companies to provide different vouchers, promotions, or discounts, that encourage consumers to spend money on their products.
The spread of the Covid-19 pandemic has impacted all the end-user industries across the globe but in a different manner. Manufacturing has impacted negatively, whereas the need for healthcare has increased. These variations have a noticeable impact on data generated and monetized. With most of the businesses taking the support of online services, work from home practices, customer’s indulgence in online platforms have increased hence growing the number of opportunities for data monetization.
For instance, in June 2020, The National Institutes of Health has launched a centralized, secure enclave as a part of National COVID Cohort Collaborative (N3C) initiative to store and study vast amounts of medical record data from people diagnosed with coronavirus disease and is made available to researchers and healthcare providers which is further used for developing treatments.
Key Market Trends
Increasing Volume and Variety of Business Data is Expected to Boost the Market Growth
- As per the Cisco Annual Internet Report (2018-2023), Nearly two-thirds of the global population will have Internet access by 2023. There will be 5.3 billion total Internet users (66 percent of the worldwide population) by 2023, up from 3.9 billion (51 percent of the global population) in 2018. This will increase the extent of data generated and thus indicate an upward trend for data monetization.
- Moreover, A growing number of M2M applications, such as smart meters, video surveillance, healthcare monitoring, transportation, and package or asset tracking, are contributing in a significant way to the growth of devices, connections and data monetization. By 2023, M2M connections will be half or 50 percent of the total devices and connections.
- On the other hand, consumer data has been growing in both structured as well as unstructured formats. The rise of E-commerce and social media has changed consumer buying behavior. Hence, industry players are leveraging this data to improve their business strategies by gaining real-time insights. These insights are generally used to optimize supply chain management, operations, sales, and marketing, etc. For instance, in 2019, Google LLC registered advertisement revenue of 134.81 billion US dollars an increase of 15.76% as compared to 2018, which indicated a rise in advertisements.
- Furthermore, the continuously evolving artificial intelligence and machine learning technology, along with IoT, has enhanced the capability of big data as the latter depends heavily on the former for success. For instance, In December 2019, Amazon launched Transcribe Medical, an application that converts patient and physician conversation into digital text format, including advanced clinical terminology, in real-time. EHR and medical data resources can be enriched with precise information generated by Transcribe Medical.
North America is Expected to Hold Major Share
- The data monetization market is growing in the region owing to the presence of major companies such as Google LLC, Amazon, IBM Corporation, among others. According to the Electronic Frontier Foundation, Google controls about 62% of mobile browsers, 69% of desktop browsers, and the operating systems on 71% of mobile devices in the world. 92% of internet searches go through Google, and 73% of American adults use YouTube. Google runs code on approximately 85% of sites on the Web and inside as many as 94% of apps in the Play store. It collects data about users’ every click, tap, query, and movement from all of those sources and more.
- The country, being a significant market for various technologies, has immense demand from almost all the end-users in the region. In the case of the United States, the recent John S. McCain National Defense Authorization Act (NDAA), for the fiscal year 2019, approved the spending of USD 716 billion, of which USD 1.46 billion is dedicated to the country’s GPS program which is expected to provide opportunities to data monetization in the region.
- Moreover, companies in the region are partnering with technology companies having expertise in data monetization to enhance their offerings better. For instance, GE Healthcare, partnered with clinicians at the University of California, San Francisco to create a library of deep learning algorithms centered around improving traditional x-ray imaging technologies like ultrasounds and CT scans by incorporating a variety of data sets including patient-reported data, sensor data, and numerous other sources to allow physicians to treat patients quickly, cutting costs and also improving outcomes. For this, GE Healthcare’s partnership with Amazon Web Services (AWS), which provides the ability to deploy machine learning solutions at scale through the Amazon SageMaker machine learning platform.
- The continually growing oil and gas industry in the region is also transforming with the incorporation of the latest technologies such as IoT and thus generate massive amounts of data, which is expected to provide growth opportunities to the market studied.
Competitive Landscape
The data monetization market is highly fragmented due to the presence of both global players as well as small and medium-sized enterprises. Moreover, data monetization is used in various industries for various purposes providing vendors with growth opportunities. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
- In January 2020, Cisco introduced an IoT security architecture that provides enhanced visibility across both IT and IoT environments and protects processes. Cisco’s new solutions enable the collection and extraction of data from the IoT edge so organizations can increase efficiencies to make better business decisions and accelerate digitization projects.?
- In October 2019, SAP SE and Verizon announced a collaboration that will enable applications to process data where it is generated from an assembly line to a retail store shelf, helping businesses save time and increase productivity.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness – Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Assessment of Impact of COVID-19 on Data Monetization Market
4.4 Market Drivers
4.4.1 Rapid Adoption of Advanced Analytics and Visualization
4.4.2 Increasing Volume and Variety of Business Data
4.5 Market Restraints
4.5.1 Interoperability With Existing Systems
4.5.2 The Varying Structure of Regulatory Policies
4.6 Market Challenge
4.6.1 Increasing Complexities in Data Structures and Availability of Consistant Data
5 MARKET SEGMENTATION
5.1 By Deployment Mode
5.1.1 On-Premises
5.1.2 Cloud
5.2 By Organization Size
5.2.1 Small and Medium-Sized Enterprises
5.2.2 Large Enterprises
5.3 By End-user Industry
5.3.1 Banking, Financial Services, and Insurance
5.3.2 Telecom and IT
5.3.3 Manufacturing
5.3.4 Healthcare
5.3.5 Retail
5.3.6 Others (Transportation and Logistics, Energy and Utilities)
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 Latin America
5.4.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Accenture PLC
6.1.2 Adastra Corporation
6.1.3 Cisco Systems, Inc.
6.1.4 Dawex Systems SAS
6.1.5 Emu Analytics Ltd.
6.1.6 Gemalto NV
6.1.7 Google, Inc.
6.1.8 IBM Corporation
6.1.9 Infosys Limited
6.1.10 Ness Technologies, Inc.
6.1.11 NetScout Systems, Inc.
6.1.12 Openwave Mobility, Inc.
6.1.13 SAP SE
6.1.14 SAS Institute
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/644f7y
Artificial Intelligence
Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services
LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation.
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The key differentiator of ViCA is its specialised and purposely constructed unique databases that leverage Complyport’s 22 years of regulatory expertise, combined with tailored AI training tools, enabling ViCA to operate as an experienced compliance consultant. A dedicated human support team continuously improves and updates ViCA’s knowledge and responses through a feedback loop process and quality assurance sessions. This powerful symbiosis of AI and human expertise sets ViCA apart and ensures businesses have the latest regulatory information instantaneously and seamlessly.
As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
From agile fintech startups to established law firms, financial institutions, regulatory bodies, insurance providers, as well as compliance consultants, ViCA seamlessly adapts to unique compliance needs. Its user-friendly interface ensures navigating and analysing regulatory data is swift and intuitive, streamlining the compliance workflow.
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Artificial Intelligence
LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
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Artificial Intelligence
Scoring a Seat at UEFA EURO 2024™ with Top-Performing AI-Powered TOSHIBA TV Lineup
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