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Data Monetization Market size to grow by USD 4.18 billion from 2022 to 202, High adoption of data monetization by various platforms to boost market growth, Technavio

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NEW YORK, March 5, 2024 /PRNewswire/ — The data monetization market is expected to increase by USD 4,184.81 million from 2022 to 2027, registering a CAGR of 19.57%, according to the latest research report from Technavio. Discover IT Consulting & Other Services industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!

Report Coverage

Details

Page number

163

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 19.57%

Market growth 2023-2027

USD 4,184.81 million

Market structure

Fragmented

YoY growth 2022-2023(%)

19.09

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 33%

Key countries

US, Canada, China, Japan, and Germany

Vendor Landscape

The data monetization market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Ciena Corp – The company offers data monetization services such as inconsistent fiber access, a new cloud business ecosystem, and internal complexity and cost.Cisco Systems Inc. – The company offers data monetization solutions for multi-domain and multi-vendor environments.Extreme Networks Inc. – The company offers data monetization that creates a stronger connection with visitors using data validation and high-quality Wi-Fi. For the market’s vendor landscape highlights with a comprehensive list of vendors and their offerings. View Sample in minutes

Key Market Segmentation

The market is segmented by type (solution and service), platform (BFSI, E-commerce and retail, media and entertainment, manufacturing, and others)

The market share growth by the solution segment will be significant during the forecast period. The amount of data has grown significantly through customer interactions, IoT devices, and social media. Companies can gain actionable insights that provide direct solutions to existing business problems, leading to continued business growth. Other growth drivers are price optimization and improved inventory management. Hence, these factors are expected to drive segment growth during the forecast period. View Sample Report in minutes for more highlights into the market segments.

Regional Market Outlook

By geography, the market is segmented by APAC, North America, Europe, South America, and Middle East and Africa)

North America is estimated to contribute 33% to the growth of the global market during the forecast period. Various technology companies, start-ups, venture capital firms, and even North American industries such as BFSI, retail, and e-commerce are expanding their data infrastructures extensively. The innovation in data-driven services is driven by the help of advanced data collection and storage capabilities. This contributes to the rapid and robust integration of data monetization in the region. Hence, the above-mentioned factors are expected to drive market growth in the region during the forecast period. For more key highlights on the regional market share of most of the above-mentioned countries. View Sample Report

Companies Mentioned

Accenture PlcCiena Corp.Cisco Systems Inc.CoreSite Realty Corp.Equinix Inc.Extreme Networks Inc.Fujitsu Ltd.Huawei Technologies Co. Ltd.Infosys Ltd.International Business Machines Corp.Juniper Networks Inc.Microsoft Corp.Nokia Corp.NTT Corp.Oracle Corp.Salesforce Inc.SAP SESAS Institute Inc.TIBCO Software Inc.Viavi Solutions Inc.

The high adoption of data monetization by various platforms

The benefits of implementing data-driven decision-making for business growth and profit are being recognized and gaining popularity in the business world across multiple industries. Additionally, various other industries such as banking and healthcare can also leverage raw customer data and leverage insights to improve customer retention and loyalty. Hence, these benefits are expected to drive market growth during the forecast period.

The digital transformation of business is a major trend in the market. Data privacy and regulatory compliance are significant challenges restricting market growth. Gain instant access to 17,000+ market research reports. Technavio’s SUBSCRIPTION platform

Analyst Review

In today’s digital landscape, big data analytics has become more than just a buzzword; it’s a crucial component for businesses aiming to thrive in a data-driven world. Among the myriad opportunities presented by this data deluge, it stands out as a strategic avenue for extracting tangible value from raw information. However, navigating this landscape requires adept data processing capabilities and robust organizational capabilities to overcome potential cultural barriers.

At the heart of it lie sophisticated Business Intelligence (BI) tools, which serve as the cornerstone for uncovering actionable insights. These tools leverage cutting-edge technologies such as AI, IoT, machine learning, and deep learning to sift through vast datasets, identifying patterns and trends crucial for decision-making. With the right BI tools, organizations can optimize their solutions, ensuring efficient data structures and high data quality.

To capitalize on this burgeoning market, businesses must engage with reputable vendors operating within the market ecosystem. Understanding the nuances of the market and identifying key customer data segments are essential steps towards success. Moreover, selecting the appropriate deployment type, whether on-premises or cloud, depends on factors such as organization size and vertical.

For instance, within the telecommunication industry vertical, it presents unparalleled opportunities to leverage data generation and data collection processes. As highlighted by Internet Live Stats, the sheer volume of data generated daily underscores the urgency for effective strategies among enterprises.

However, success in it requires more than just technological prowess; it necessitates a robust data governance program and a skilled workforce adept in talent management. The role of a Chief Data Officer (CDO) becomes pivotal in ensuring a strong return on investment (ROI) from it’s initiatives.

Analyzing it’s trends and understanding market segmentation is imperative for targeted application analysis, whether in customer service, sales and marketing, or finance domains. Furthermore, insights into deployment analysis across cloud and on-premise solutions, along with a focus on enterprise type analysis differentiating between large enterprises and SMEs, provide a comprehensive view of the industry.

In conclusion, the market promises exponential growth fueled by advancements in business intelligence, artificial intelligence (AI), internet of things (IoT), and cloud computing. By leveraging method insights such as analytics-enabled platform as a service, embedded analytics, and insight as a service, organizations can unlock the full potential of data monetization, driving innovation and sustainable growth. View Sample Report

Related Reports

The PLC software market is estimated to grow at a CAGR of 5.82% between 2022 and 2027. The market size is forecast to increase by USD 867.32 million. Furthermore, this report extensively covers market segmentation by deployment (cloud-based and on-premises), type (ladder logic, FBD, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The increasing industrial automation and digitization is one of the key factors driving market growth.

The IT professional services market is estimated to grow at a CAGR of 9.09% between 2022 and 2027. The market size is forecast to increase by USD 461.56 billion. Furthermore, this report extensively covers market segmentation by type (project-oriented services, information technology outsourcing, IT is supporting and training services, and enterprise cloud computing services), end-user (large enterprises, small, and medium enterprises), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The growing digital transformation is one of the key factors driving market growth.

Table of Contents

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com

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SOURCE Technavio

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Typeform Delivers New Solutions to Empower B2C Businesses to Better Engage Customers

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Brands can now use video, data enrichment, and AI-powered capabilities to create interactive, hyper-personalized experiences and uncover deeper insights

SAN FRANCISCO, Nov. 14, 2024 /PRNewswire/ — Typeform, the intuitive form builder and conversational data collection platform, today announced new features that provide business-to-consumer (B2C) businesses with the context, clarity, and convenience needed to better engage and understand their customers. Now businesses can further enhance the respondent experience, all while gathering richer, actionable data. 

Today, 70% of consumer decisions are based on emotion, including brand preference.¹ Buyers expect brands to tailor experiences to their personal preferences more than ever, but at the same time, they’re also becoming more cautious about sharing personal information. Typeform’s latest features help brands collect data directly from customers through interactive, personalized experiences they trust, then automatically enhance it with third-party insights to deepen their understanding. This empowers companies to deliver more targeted, data-driven marketing.

“Businesses can’t thrive on surface-level insights,” said Aleks Bass, Chief Product Officer, Typeform. “Our latest innovations give you the ability to dig deeper into truly knowing your customers by providing dynamic data collection experiences that encourage quality responses. Whether boosting conversions with a personalized product recommendation quiz or gathering feedback through video surveys, the common denominator is that your customers enjoy the experience.”

The offerings were unveiled at Typeforum 2024, Typeform’s first-ever virtual product spotlight event, designed to showcase the latest innovations from the company. Newly released features include: 

Enhanced Video Capabilities: Typeform now allows customers to respond with video, providing businesses deeper insights through voice and expressions, not just text. This builds on Typeform’s existing feature that enables creators to record, edit, and embed personalized videos into forms, boosting engagement and conversions. Typeform research found that 65% of marketers believe video is an effective tool for engaging and interacting with customers in ways that feel more human and create connection and loyalty.²Clarify with AI: Typeform’s Clarify with AI acts as a virtual interviewer, prompting follow-up questions based on customer responses. When a customer is asked about their experience and answers vaguely, like “good,” the AI encourages more detailed feedback, asking, “Good, how? What stood out?” For customers, it feels like a personalized conversation. For brands, it delivers more insights. Automated B2C Data Enrichment: Earlier this year, Typeform introduced automated B2B data enrichment, making it easier than ever to understand customers at a deeper level without needing to ask additional questions. Now, consumer-level enrichment is available in the Typeform platform. With just a personal email address, companies can pull in key data points from trusted third-party sources, providing a more complete picture of who’s on the other side of the screen.AI-powered Qualitative Analysis: With this feature, businesses can instantly analyze large volumes of text and video responses to surface key themes and insights, saving hours of manual work. Data Quality Tools: Invisible reCAPTCHA ensures data integrity by blocking bots and automated submissions, allowing only genuine responses to be collected. This safeguard enhances data reliability, helping teams make accurate, data-driven decisions.Klaviyo Integration: Typeform will soon be launching a new integration with Klaviyo, designed for B2C and direct-to-consumer (DTC) marketers. It will ensure that every insight gathered flows seamlessly into Klaviyo. Manual data transfers are eliminated as segments automatically update with Typeform data, enabling hyper-targeted campaigns customized to each customer’s unique profile. This integration combines Typeform’s interactive data collection with Klaviyo’s automation, facilitating more natural, personalized customer connections while driving business growth.

“We built a powerful product recommendation quiz not just to help our customers, but to generate invaluable data that allows us to better segment and engage them with relevant marketing,” said Addison Wennar, Digital Communications Manager, OGEE. “With the holiday shopping season approaching, these insights will be key. Typeform already delivers the highest response rates for us, and I’m excited to see how the new features will amplify that impact.”

The features are available today in Typeform for Growth plans. Watch the Typeforum 2024 recordings and learn how to use Typeform to better understand and engage customers here

About Typeform
Typeform is a distinctly intuitive form builder that helps over 150,000 customers collect and validate the data they need to grow their businesses. Designed with striking visuals, a conversational flow, and powerful data capabilities, Typeform empowers brands to give and get more with each form. Typeform drives more than 500 million responses each year and integrates with essential tools including Zapier, HubSpot, and Slack. For more information, visit www.typeform.com.

1         Pendell, R. (2024, October 15). Customer brand preference and decisions: Gallup’s 70/30 principle. Gallup.com. https://www.gallup.com/workplace/398954/customer-brand-preference-decisions-gallup-principle.aspx#:~:text=70%25%20of%20decisions%20are%20based,Making%20Process:%20Rational%20or%20Emotional?

2          Data from a survey of 105 Typeform customers conducted on September 30, 2024.

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SOURCE Typeform S.L.

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Electronic Drives and Controls Celebrates Impressive Growth and Strong Demand for Industrial Automation Solutions

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EDC has announced 39% revenue growth over the past year and a strengthened presence in the metals converting and composites industries. The company has also maintained key certifications, including CSIA, UL508A, Rockwell Automation, Siemens, and Ignition.

PARSIPPANY, N.J., Nov. 14, 2024 /PRNewswire-PRWeb/ — Electronic Drives and Controls, Inc. (EDC), a leading control system integrator and field service company for industrial automation and drive technology, today announced that the company has experienced a year of growth and success, achieving a 39% increase in revenue year-over-year. To meet the growing demand for automation and drive solutions, EDC has expanded its team, hiring Ricky Arcky as human resources manager and Tyler Schaberick as systems engineer. EDC attributes this growth to maintaining industry certifications, digital marketing efforts, a dedicated team, and strong, long-term partnerships.

“We are proud of the growth we’ve achieved this year, which is a testament to the hard work of our team and our commitment to delivering exceptional service to our clients.”

“We are proud of the growth we’ve achieved this year, which is a testament to the hard work of our team and our commitment to delivering exceptional service to our clients,” said Chuck Dillard, Vice President of EDC. “Our recent hires and increased project load reflect our strategy to grow both wider and deeper with our existing clients, as well as entering new industries.”

“We’ve put in years of preparation and invested heavily in digital marketing to get the word out about our services, knowing that growth was inevitable,” Dillard added. “Our team has worked tirelessly and the results speak for themselves: clients continue to return to us because of our technical expertise and the strong results we deliver.”

EDC’s expertise in coating & laminating, wire and cable, PLC programming and upgrades, as well as drive service, has allowed the company to strengthen its presence in the metals converting industry, securing new and expanded projects across multiple client plants. EDC has also successfully completed upgrades for a new client in the composites industry, widening the portfolio of industries it caters to.

In addition to recent growth, EDC remains committed to maintaining the highest industry standards through its CSIA certification, which ensures adherence to best practices in control system integration. Several certifications, including UL508A recertification and certifications from Rockwell Automation, Siemens, and Ignition, further emphasize EDC’s dedication to safety, technical proficiency, and continuous improvement.

About Electronic Drives and Controls, Inc.
Founded in 1968, Electronic Drives and Controls, Inc. (EDC) is a CSIA Certified control system integrator with deep domain expertise in the coating and laminating, and converting industries. The company’s large field service team specializes in AC and DC drives, PLCs and factory automation. Family owned and operated for more than 50 years, EDC’s team of engineers and technicians has a vast experience integrating new control systems and breathing life into older equipment. EDC has the engineering capability to design, build, start-up and service projects from the sophisticated to the simple and the service support team on call 24/7/365 to keep it all running at peak efficiency from day one and for years to come. In addition to the company’s certification as a Siemens Solution Partner and a Rockwell Automation Recognized System Integrator, EDC is a factory authorized/factory trained service center for over 40 drive brands. For more information, visit the company’s website, LinkedIn, Twitter, Facebook, and YouTube.

Media Contact

Georgia Whalen, Rivergate Marketing, (978) 697-2664, Gwhalen@rivergatemarketing.com, www.electronicdrives.com/home/

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SOURCE Electronic Drives and Controls, Inc. (EDC)

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Allstate Financial Services Selects Covr to Provide Life Insurance, Long-Term Care, and Disability Insurance Solutions

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Covr’s Digitally Enabled Insurance Platform Will Simplify the Buying Process

HARTFORD, Conn., Nov. 14, 2024 /PRNewswire/ — Covr, a leading digital insurance provider, has partnered with Allstate Financial Services, LLC to offer a streamlined suite of life, long-term care (LTC), and disability income insurance solutions through Covr’s digital platform. This partnership provides Allstate Financial Services customers with a simple, connected experience, featuring an intuitive, paperless process that makes it easier than ever to purchase insurance tailored to their diverse needs.

Covr’s platform offers an easy-to-use, self-guided experience to efficiently compare and recommend insurance products. Additionally, Allstate Financial Services will offer a range of products through Covr’s platform, including guaranteed issue life insurance through Gerber Life and disability insurance through Assurity, Ameritas, MassMutual, Mutual of Omaha and Principal. Traditional long-term care will also be available through Mutual of Omaha.

“We are extremely pleased to add Allstate’s network of 7,000+ representatives to our insurance platform,” said Michael Kalen, CEO of Covr. “Their business owners and individual customer base fits perfectly with our portfolio of simplified life, LTC, and disability income solutions for agents and their customers.”

“We’re committed to expanding solutions that better meet our customers’ protection needs,” said Scott Delaney, President and CEO, Allstate Financial Services. “With Covr’s digital platform, our representatives can deliver a more connected experience and offer a broader range of insurance options tailored to each customer’s unique needs.”

Allstate representatives will collaborate closely with Covr’s sales team to ensure ongoing support. Allstate Financial Services will also benefit from Covr’s top-tier case management services, providing end-to-end support throughout the entire insurance process.

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SOURCE Covr Financial Technologies

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