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According to IMARC Group latest report titled “Data Marketplace platform Market: Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” , offers a comprehensive analysis of the industry, which comprises insights on data marketplace platform market share . The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global data marketplace platform market size reached US$ 1,192.1 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 7,312.5 Million by 2032, exhibiting a growth rate (CAGR) of 22.33% during 2024-2032.
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Factors Affecting the Growth of the Data Marketplace Platform Industry:
Increasing Volume of Data Generation:
With the advent of the Internet of Things (IoT), social media, mobile devices, and online transactions, businesses and individuals generate vast amounts of data daily. This rise in data production has led to the recognition of data as a valuable asset that can be harnessed for insights, innovation, and competitive advantage. The demand for diverse, high-quality, and real-time data across industries such as finance, healthcare, retail, and technology further propels the growth of these platforms. They offer a solution to the challenge of data scarcity for organizations looking to leverage data analytics for decision-making, thereby driving the proliferation of data marketplaces.
Advancements in Data Technologies and Infrastructure:
As data storage, processing, and analytics technologies continue to evolve, it becomes easier and more cost-effective to manage large volumes of data. Cloud computing offers scalable and flexible data storage solutions, enabling data marketplaces to store and manage vast amounts of data efficiently. Furthermore, advancements in data analytics and artificial intelligence (AI) technologies have enhanced the ability to extract insights from data, increasing its value and utility. These technological advancements have lowered the barriers to entry for both data providers and consumers, making it more feasible for a wider range of participants to engage in the data marketplace.
Regulatory and Compliance Requirements:
As governments and regulatory bodies worldwide implement stricter data protection and privacy laws, such as the general data protection regulation (GDPR) in Europe and the California consumer privacy act (CCPA) in the United States, organizations are under increased pressure to ensure that their data handling practices comply with these regulations. Data Marketplaces offer a structured and compliant platform for data exchange, providing mechanisms for data providers to ensure that their data sharing practices adhere to the relevant legal and regulatory standards.
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Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Adobe, Inc. Amazon Web Services, Inc. (Amazon.com, Inc.) BattleFin Datarade GmbH Dawex Systems Microsoft Corporation Narrative I/O, Inc. Oracle Corporation SAP SE Snowflake Inc.
Data Marketplace Platform Market Report Segmentation:
Our report has categorized the market based on region, component, type, revenue model, enterprise size, and end user.
By Component:
Platform represented the largest segment by component as it is the core infrastructure enabling data transactions, integration, and management, serving as the foundation for marketplace operations.
By Type:
Personal Data Marketplace Platforms B2B Data Marketplace Platforms IoT Data Marketplace Platforms
B2B data marketplace platforms represented the largest segment by type due to the high demand among businesses for data to drive decision-making, improve operations, and create competitive advantages.
By Revenue Model:
Subscription Commission Paid Features Others
Subscription represented the largest segment by revenue model as it provides a predictable revenue stream for data providers and allows customers to access continuously updated data resources.
By Enterprise Size:
Large Enterprises Small and Medium Enterprises
Large enterprises represented the largest segment by enterprise size since they have the resources to invest in data marketplaces for strategic insights and data-driven decision-making, and often have larger volumes of data to monetize.
By End User:
Financial Services Advertising, Media and Entertainment Retail and CPG Healthcare and Life Sciences Technology Public Sector Manufacturing Others
Financial services represented the largest segment by end-user due to the sector's reliance on accurate, timely data for risk assessment, investment decisions, and compliance with regulatory requirements.
Regional Insights:
North America (United States, Canada) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others) Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others) Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)
North America was the largest market by region, reflecting the region's advanced digital infrastructure, high levels of data generation, and the presence of leading technology companies driving the adoption of data marketplace platforms.
Data Marketplace Platform Market Trends:
The increasing demand for data-driven decision-making across industries is a critical driver for the growth of data marketplace platforms. In an era where information is power, organizations across sectors are seeking to leverage data analytics for strategic decision-making, operational efficiency, and competitive advantage. This has led to a heightened demand for high-quality, relevant, and timely data, which data marketplaces are uniquely positioned to supply. The platforms offer a wide variety of data sets, including consumer behavior, market trends, financial indicators, enabling organizations to access and utilize data that would otherwise be beyond their reach.
Key Highlights of the Report :
Market Performance (2018-2023) Market Outlook (2024-2032) Porter's Five Forces Analysis Market Drivers and Success Factors SWOT Analysis Value Chain Comprehensive Mapping of the Competitive Landscape
About US:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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