Artificial Intelligence
The Rise In The Volume Of Enterprise Data Is Expected To Drive The Data Monetization In Telecom Market As Per The Business Research Company’s Data Monetization In Telecom Global Market Report 2022
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According to The Business Research Company’s research report on the data monetization in telecom market, 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 November 2020, according to 3RDi, a US-based AI-powered enterprise solution, every 1.2 years, the amount of enterprise data across all organisations in the world doubles. Further, in March 2020, according to Forbes, a US business magazine, to structure and optimise enterprise data, 67% of businesses already rely on data integration, and 24% aim to do so during the next 12 months. Therefore, the rise in the volume of enterprise data is driving data monetization in the telecom market.
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The global data monetization in telecom market size is expected to grow from $3.08 billion in 2021 to $3.76 billion in 2022 at a compound annual growth rate (CAGR) of 22.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The data monetization in telecom market growth is expected to reach $8.28 billion in 2026 at a CAGR of 21.8%.
Monetizing data with advanced analytics is a key trend gaining popularity in data monetization in the telecom market. Major companies operating in the data monetization market in the telecom market are focused on developing and acquiring advanced analytics to sustain their position in the market. For instance, in January 2020, Quantzig, an India-based provider of data monetization in telecom, launched advanced telecom data analytics solutions that help to tackle the complexities in the telecom industry, including data monetization using big data, artificial intelligence, and machine learning with the internet of things. It aids the telecommunications firms that have begun using client data to improve various business procedures with advanced analytics capabilities.
Major players in the data monetization in telecom market are Accenture plc, Capgemini SE, Cisco Systems Inc, Google LLC, Intel Corporation, Lynx Software Technologies Inc, Redknee Inc., SAP SE, NetScout Systems Inc, IBM, iConnectiva, 1010data, SQLstream Inc, Mahindra Comviva, Infosys Limited, and Atos.
The global data monetization in telecom market is segmented by component into tools, services; by data type into customer data, product data, financial data, supplier data; by organization type into small and medium-sized enterprises (SMEs), large enterprises; by deployment type into on-premises, cloud.
In 2021, North America was the largest region in terms of data monetization in the telecom market. The regions covered in this data monetization in telecom market research report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Data Monetization In Telecom Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide data monetization in telecom market overview, data monetization in telecom market forecast size and growth, data monetization in telecom market segments and geographies, data monetization in telecom market trends, data monetization in telecom market drivers and restraints, data monetization in telecom market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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