The global data broker market is projected to witness significant growth over the next six years and is expected to grow at a CAGR of 6.01% during the forecast period. The rapid growth in the coming years is majorly attributed to the increasing demand for various data-based information regarding consumers, different organizations, technical data related to weather, natural events, drug studies, and real estate information among others. In order to compete with one another, companies and organizations are approaching various data brokerage firms for necessary, relevant, and customized data-based information to formulate their marketing strategy in a more viable form. The data broker market is highly diversified as well as dynamic.
Data brokers usually collect information from a wide number of sources and compile them to derive detailed profiles of enquired entities. These companies generate revenue by selling the compiled information to other entities. As discussed by Federal Trade Commission, “these data brokers collect personal information about consumers from a wide range of sources and provide it for a variety of purposes, including verifying an individual’s identity, marketing products, and detecting frauds”. The data broker market is neither homogeneous nor is regulated, in most countries. This market is highly consolidated and will witness a phenomenal growth rate.
Global Data Broker Market
Global Data Broker Market
|Market Evaluation (Value)||US Dollar Million|
|Segmentation||Data Type, End-User Industry, and Geography|
|Regions Covered||North America, South America, Europe, Middle East, and Africa, and the Asia Pacific|
|Country Level Forecast and Analysis||Yes|
|Key Trends||North America dominates the global data broker market while the Asia Pacific is projected to grow at the highest CAGR.|
The data broker market covers a wide range of end-users which include financial services firms, telecommunication, retail, individual consumers, educational institutions, real estate, power and energy, and the automotive industry among others. The market is trending towards more data-centric information sources so as to analyze within a prescribed deadline. This data-related information is usually collected for the purpose of research and forecast. The increasing growth of business intelligence and analytics and the internet of things (IoT) is the prominent drivers for catalytic growth of the data broker market across the globe.
North America holds the largest share in the global data broker market owing to its speedy adoption of different analytic methods and high adoption rate of IoT. However, Asia-Pacific is projected to be the fastest-growing market owing to the inclination towards the usage of compiled data in order to save time and energy, and data broker services as a part of the business. However, if the data broker market becomes regulated and more protected then it may inhibit its growth rate owing to various rules, regulations, and restrictions.
The major players profiled in the global data broker market include Acxiom, ID Analytics, LLC, Oracle Corporation, CoreLogic, TransUnion, Intelius, and Recorded Future, Inc among others.
The global data broker market has been analyzed through the following segments:
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