Artificial Intelligence
Data Monetization Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)
New York, Nov. 17, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Data Monetization Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” – https://www.reportlinker.com/p06363563/?utm_source=GNW
Thus, the scope of data monetization in the post-pandemic era is bound to increase.
Key Highlights
In the current technological scenario, independent software vendors have turned to self-service business intelligence to increase application revenue and differentiate their offerings. Similarly, for enterprises developing applications, self-service BI can contribute to application ROI by increasing adoption and improving operational efficiencies.
Data monetization is gaining interest as companies become more interested in discovering the value in their otherwise underutilized data. Monetizing data requires time, energy, and investment and combining business and technical experts with complementary skills.
Data can be monetized directly by selling raw data or 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, new data-based features such as reviews, suggestions, and personalized content make more customers return to the forum.
Moreover, data marketplaces are playing a crucial role in achieving external data monetization. With data marketplaces, buyers can purchase datasets to enhance their analytics and offer new services to their customers while sellers monetize their data. A data marketplace is a platform where users buy or sell different data sets and data streams from several sources. Data marketplaces are mostly cloud services where individuals or businesses upload data to the cloud. Those platforms enable self-service data access while ensuring both parties’ security, consistency, and high data quality.
Furthermore, a continuous rise in the volume of enterprise data increased the focus on generating new revenue streams. A rise in awareness of the potential benefits of data monetization is also expanding the market’s growth. For instance, ride-hailing companies such as Uber, Lyft, and Ola use location-based analytics to gather insight into their customer’s data that is extracted from pick-up and drop-off locations. Uber might sell this data to other businesses with the user’s permission that other companies can use to provide different vouchers, promotions, or discounts, encouraging consumers to spend money on their products.
However, laws such as European Union’s GDPR and the California Consumer Privacy Act (CCPA) present challenges to data monetization plans. GDPR has made companies cautious concerning data security, so for many, the risk of using data for internal and external monetization seems to outweigh the potential benefits.
Key Market Trends
Banking, Financial Services, and Insurance? (BFSI) to hold Significant Share for the Future Demand
Banking, Financial Services, and Insurance (BFSI) companies are some of the major investors and adopters of data monetization techniques. The industry is highly focused on generating revenue by leveraging data. Across the globe, credit card issuers and retail banks use customer transaction data to enhance cross-selling offer targeting. Financial services and insurance companies are increasingly promoting merchant-based reward programs that leverage a bank’s data and simultaneously provide discounts to their customers.
Another important trend triggering the growth of data monetization in the sector is the role of automation. For instance, in September 2022, Cygnet Infotech, a Digital Engineering Services provider, partnered with Algorithmic Scale, a service provider in data commercialization and monetization for Nordic businesses. With this partnership, the companies aim to collaborate in the areas of Data Engineering and AI-enabled accelerators.
On the other hand, consumer data has been growing in structured and unstructured formats. The rise of E-commerce and social media has changed consumer buying behavior. Hence, industry players leverage this data to improve their business strategies by gaining real-time insights. These insights are generally used to optimize supply chain management, operations, sales, marketing, etc.
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. Also, the rise of global cloud deployment in the BFSI industry is driven by a shift in preference toward the cloud, an increase in digital disruptions, and technological advances such as the integration of edge computing, the internet of things (IoT), and artificial intelligence.
However, the COVID-19 pandemic caused a surge in cloud deployment in the BFSI market, owing to increased demand for greater computing power among banks and the fintech sector. The rise in cloud deployment in BFSI will further drive the need for Data Monetization.
Asia Pacific is Expected to Hold Major Share
The region is witnessing the advanced and dynamic adoption of new technologies. Additionally, the commercialization of AI, big data, and IoT technologies and the need for further advancements to leverage such technologies to the best are likely to drive the adoption of data monetization tools and services in the region.
According to SAS, 60% of Asia Pacific organizations name customer experience as a key reason to invest in big data. 54% of Asia Pacific organizations invest in big data to achieve product/service innovation.
Many financial service institutions (FSIs) in the region have invaluable and voluminous data which can be monetized and deliver a significant return. Doing data-to-digital allows FSIs to compete digitally and capture digital transformation benefits.
Additionally, once transformed through data-to-digital, an FSI’s data assets might produce significant new external revenue streams. FSI can monetize data by using data and analytics better, producing data-based products, and building platforms of insights and services. China Unicom used blockchain to create a new data monetization revenue stream. The company’s objective was to share data with enterprise customers whilst also complying with security and privacy and keeping an eye on the overhead costs and data storage.
Furthermore, Indian-based Infosys, one of the vendors in the market, has been accredited as a partner with the Google Cloud Platform Partner Program in the data analytics specialization space. The company enables enterprises in the journey of digital transformation by helping them move away from conventional or point solution-led approaches to building industrialized capabilities and monetizing data.
In addition, there have been efforts by the regulatory bodies to improve the quality of financial data in the country. For instance, In May 2020, the China Banking and Insurance Regulatory Commission (CBIRC) launched a new campaign to shore up the quality of financial data after issuing a slew of fines to banks for improper reporting.
Competitive Landscape
The data monetization market is highly fragmented due to the presence of both global players and small and medium-sized enterprises. Moreover, data monetization is used in various industries to provide 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.
September 2022 – Evergent, customer management and monetization provider for streaming and digital subscription businesses announced a partnership with XroadMedia, specialists in building innovative and ground-breaking content discovery and personalization solutions. This partnership is aimed at the joint development of solutions to deliver enhanced results for customer relationship management (CRM) and monetization.
February 2022 – MarkiTech.AI, an AI development company in healthcare and technology, implemented its unique data monetization platform SIGNIA in early 2022 as a proof of concept for one of the largest ICT providers in North America. This platform enables enterprises to bring their solutions, services, and technology products to the developer and the software community in a fully self-service-friendly manner.
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Artificial Intelligence
Unlock an Exclusive Olympic Experience: Celebrating Live4Well’s Sold-Out Genesis NFT
HONG KONG, May 25, 2024 /PRNewswire/ — The buzz surrounding Live4Well’s successful Genesis NFT membership launch on May 23 has captivated both traditional and web3 communities. Combining the power of AI technology and decentralized physical infrastructure (DePin) concept, Live4Well has infused new life into the NFT market. The overwhelming response to their first NFT sales, showcases the project’s immense potential. Renowned web3 community leaders from Azuki, Bored Ape, Pudgy Penguins, WELL3, etc have joined forces with Live4Well, propelling the Genesis NFT membership collection to its resounding success.
Live4Well aims to transform the wellness industry by creating a reward-based infrastructure that connects global fitness data, enhances their AI database, and drives the development of sports and wellness. Backed by a multi-billion family office, which recently invested $20 million in Live4Well, the project has gained support in both web3 and traditional spaces. The team believes that every drop of sweat and effort toward better health should be rewarded, fostering motivation and integrating exercise into daily lives for enhanced well-being.
Live4Well’s announcement of an Olympic-themed raffle for Genesis NFT holders reflects their commitment to connecting wellness between Web2 and Web3 platforms. This testament to Live4Well’s demand and innovative vision solidifies their position as a promising leader in the industry. Their integration of the Olympic signifies their determination to inspire a global audience, leveraging blockchain technology to create an immersive ecosystem that revolutionizes how individuals engage with fitness on a daily basis for better health. Live4Well’s dedication to bridging the gap between traditional practices and the digital landscape sets them apart as pioneers in promoting well-being on a global scale.
What is Genesis NFT membership?
The Genesis NFT unlocks a multitude of benefits for holders, including the opportunity to cash out their sportive income and access a range of exclusive physical products and services. In addition to future airdrops and angel round whitelist privileges, Genesis holders will receive VIP tailor-made product packs from an innovative German sportswear company, elevating their exercise performance to new heights. With over 400 million sweat points farmed by their users, they are eager to redeem through the Genesis NFT membership. These enticing incentives explain why there was a widespread eagerness to participate in this thrilling event.
Unlike typical projects that raise funds before launching products or services, Live4Well has already released its AI-powered app, amassing over 250,000 users as a community base actively engaging in daily exercise. This early success has fostered a promising community within the wellness industry, as users trust Live4Well’s roadmap and collaborative ventures. The growing traction from both ordinary individuals and web3 enthusiasts has intensified the demand for redeeming and cashing out sweat points, the project’s exercise-based rewards. Obtaining the Genesis NFT membership is now seen as an essential step for accessing the highest tier of benefits and cashing out sportive income.
What’s next for Live4Well?
Following the Genesis sales, Live4Well’s team will shift their focus to the upcoming token generation event (TGE) and a series of farming events. They also have exciting plans for partnerships and other collaborations in the global wellness and fitness industries. If you missed the initial launch, be sure to stay updated on Live4Well’s journey and join this extraordinary revolution.
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Artificial Intelligence
Overseas Expansion Strategy of K-OTT Introduced in France, KOCCA holds the ‘2024 Korea-France Content Forum’
– The ‘Korea-France Content Forum’ held to establish the Foundation for K-OTT’s oversea expansion
PARIS, May 24, 2024 /PRNewswire/ — The Ministry of Culture, Sports and Tourism (Minister Yu In-chon) and the Korea Creative Content Agency (President, Jo Hyun-rae, hereafter KOCCA) held the ‘2024 Korea-France Content Forum’ on May 24th during the Korea Expo in Paris, France.
The ‘2024 Korea-France Content Forum’ featured a keynote session (K-OTT’s Strategies in Global market) presenting K-OTT’s strategies for international expansion and a roundtable session (Strategies in the Era of Streaming) discussing the growth of OTT platforms and collaborative approaches with production companies.
The forum featured participation from various industry leaders including Kun hee Park (CEO, Wavve Americas), Sangjin Lee (Head of content IP Business, LG U+), Seung ae Sohn (Executive Director, Showbox), Ji ae Sohn (Ambassador for Cultural Cooperation), Moonju Kim (General Director, France Business Center, KOCCA), Isabelle Degeorges (President, Gaumont Television France) which produced the French Netflix original series, participated.
Strategy announcement by Wavve Americas (KOCAWA), the first K-OTT’s launched in Europe
During the Keynote Session, Park Kun Hee – CEO of Wavve Americas, the first domestic OTT Platform to launch services in Europe, Took the stage to discuss the international expansion strategy of KOCOWA, which started offering services in 39 countries including Europe since April of this year. Following this, Lee Sangjin, Head of Content IP Business of LG U+, presented the expansion strategy of LG U+ Mobile TV, encompassing diverse original content.
During the round-table session, participants shared thoughts and solutions regarding the survival strategies of local OTT platforms and production companies amidst the rapid waves of change brought about by the emergence of global OTT platforms.
In particular, through this forum, we were able to observe the proactive implementation of IP protection policies by local production companies in France, aimed at sustainable content creation. Isabelle Degeorges, CEO of Gaumont Television France, noted, “With the introduction of the European Audiovisual Media Services Directive (AVMSD), platforms and production companies can share IPs three years after supplying the content.” Kim Moon-joo, Director of the Korea Creative Content Agency’s France Business Center, participated as a panelist, introducing policies aimed at enhancing the competitiveness of K-OTT and fostering collaboration with production companies.
Park Kun Hee, CEO of Wavve Americas, who participated in the event, stated, “It was a meaningful opportunity to introduce our platform locally in Europe in line with KOCOWA’s expansion into the region”. Additionally, Kyoungbon Koo, Director Broadcasting & Video Content Division at KOCCA commented, “It was a meaningful occasion to not only introduce K-OTT’s strategies to Europe but also to exchange ideas on collaboration between Korea and France. We will continue to focus on activating various forms of collaboration with major international partners in the future”.
KOCCA supports the overseas expansion of excellent domestic OTT content and platforms through the newly established Local OTT Specialized Support Program this year. This initiative aims to enhance the competitiveness of domestic OTT platforms and content by adapting to the changing industrial environment.
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Artificial Intelligence
IoT Node and Gateway Market worth $604.7 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, May 24, 2024 /PRNewswire/ — The IoT Node and Gateway market is projected to grow from USD 424.6 billion in 2024 and is estimated to reach USD 604.7 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of the IoT Node and Gateway market is driven by the Provision of increased IP address space through IPv6, Emergence of 5G technology, and Increasing need for data centers.
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Browse in-depth TOC on “IoT Node and Gateway Market”
410 – Tables70 – Figures390 – Pages
IoT Node and Gateway Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 424.6 billion
Estimated Value by 2029
$ 604.7 billion
Growth Rate
Poised to grow at a CAGR of 7.3%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Hardware, End-use Application and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Requirement for wireless spectrum and licensed spectrum
Key Market Opportunities
Accelerated IoT adoption in healthcare sector
Key Market Drivers
Rising use of wireless smart sensors and networks
By Hardware, the Logic Devices are projected to grow at a high CAGR of IoT Node and Gateway market during the forecast period.
Logic devices can adapt to changing requirements even after deployment. As new features or functionalities are needed, the logic within the device can be reprogrammed to accommodate these changes, extending the useful life of the product and reducing the need for hardware revisions. The integration of FPGA technology into IoT devices further enhances these advantages. The integration of FPGAs into IoT nodes and gateways empowers manufacturers to develop highly optimized, customizable, and scalable solutions that meet the diverse needs of IoT applications. Tesla’s Full Self-Driving (FSD) computer utilizes FPGAs to handle complex neural network computations for autonomous driving algorithms. This allows them to potentially improve their FSD capabilities through software updates that reconfigure the logic within the FPGAs.
BFSI segment in IoT Node and Gateway Market is projected to grow at a highest CAGR during the forecast period.
BFSI sector can use IoT technology to provide more convenient solutions for customers. IoT can be used to perform data collection in real time and for instant communication between devices. For instance, it can facilitate cashless payments using an RFID scanner to identify products in the shopping cart and mobile wallet. The adoption of mobile point of sale (mPOS) systems and kiosks is fundamentally reshaping the landscape of the BFSI market. mPOS facilitates transactions anytime, anywhere, benefiting unbanked populations and enabling temporary service points for events. Kiosks offer convenient banking functionalities, reducing wait times and freeing up staff for complex inquiries. These technologies drive cost savings by requiring less investment and automating routine tasks, allowing resources to be reallocated strategically. They provide rich data for personalized services, fraud detection, and operational optimization. mPOS systems and kiosks promote financial inclusion by extending services to remote areas, fostering economic activity and well-being.
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North America accounts for the largest share in IoT Node and Gateway Industry.
The North American IoT market is poised to grow, driven by government efforts to transition cities into smart urban centers. The growing need for sophisticated IoT solutions, fueled by the widespread availability of high-speed data, will further propel market expansion in this region. Furthermore, North America’s dynamic IoT node and gateway ecosystem features established players like Intel Corporation (US), Texas Instruments Incorporated (US), Dell (US), and Cisco Systems (US), driving competition, innovation, and affordability. Increasing research and development at industry levels is broadening the application areas of IoT in various industries, such as retail, consumer electronics, automotive and transportation, and healthcare, especially in the US. The increased demand for effective solutions and focus on early, accurate, and fast diagnosis of diseases has led to huge investments in technological developments in the healthcare sector.
Key Players
Key companies operating in the IoT Node and Gateway companies are Intel Corporation (US), Qualcomm Technologies, Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Huawei Technologies Co., Ltd. (China), NXP Semiconductors N.V. (Netherlands), Cisco Systems, Inc. (US), Hewlett Packard Enterprise Development LP (US), TE Connectivity Ltd (Switzerland), Advantech Co., Ltd. (Taiwan), Dell Technologies (US), among others.
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
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IoT Technology Market by Node Component (Sensor, Memory Device, Connectivity IC, Processor, Logic Devices), Software Solution (Remote Monitoring, Data Management), Platform, Service, End-use Application, Geography – Global Forecast to 2029
Industrial IoT Market Size, Share & Industry Growth Analysis Report by Device & Technology, Connectivity Type, Software, Vertical (Manufacturing, Energy, Oil & Gas, Healthcare, Retail, Transportation, Metals & Mining, Agriculture), and Geography – Global Growth Driver and Industry Forecast to 2026
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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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