November, 2024
IBM is a leading provider of data monetization services around the world. The overall revenue of this company was US$ 61,860 million in 2023. The data monetization market deals with the provision of data monetizing services to numerous industries across the world. This industry comprises of various components such as consulting, implementation & integration, services, support and maintenance, and tools. The rising use of data monetization services among large organizations is expected to boost market expansion. Bigger organizations are now opting for data monetization services due to the unique benefits provided. In February 2023, Synechron launched a data monetization accelerator program. This data monetizing platform is designed for large organizations.
This market is boosted by the rising use of data processing across the world. Additionally, advancements in technologies such as big data analytics and IoT are driving the growth of the data monetization market. In September 2023, AltHub launched AltLab360. AltLab360 is an AI-enabled data monetization platform that helps extract data from various sources. The integration of machine learning in data monetization platforms is expected to create opportunities for market players in the upcoming days.
The data monetization industry is fragmented with various market players such as Accenture, IBM Corporation, SAP SE, Monetize, Cisco Systems, Inc. and some others. Cisco is a global provider of data monetization services that generated revenue of US$ 14,550 million in 2023 from the services segment. SAP SE, another top company of this industry generated revenue of US$ 4,636.69 million in 2023 from the services segment.
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