Global Data Broker Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Data Type (Consumer Data, Business Data), By End-User (BFSI, Retail, Automotive, Construction, Others), And By Geography - Forecasts From 2023 To 2028

The global data broker market was valued at US$319.030 billion in 2021 and is expected to grow at a CAGR of 7.96% over the forecast period to reach US$545.431 billion in 2028.

Data brokers are the companies that collect the information of users through the internet legally and further, provide this data to various companies operating across different industry verticals for the development of new marketing strategies. The burgeoning number of social media users across the globe coupled with the high penetration of mobile devices is further generating huge amounts of consumer data which is important for attaining business advantages. Furthermore, the growing penetration of IoT across different industries and the growing number of connected devices across the globe is one of the key factors which are anticipated to supplement the growth of the market throughout the forecast period. However, numerous stringent regulations regarding the security and the privacy of consumer data especially in developed economies such as the GDPR (General Data Protection Regulation) law regarding the protection of data in the European Union may hamper the growth of the market moderately during the next five years.

The continuously rising penetration of IoT is leading to the generation of huge amounts of useful data for companies which can be further used for the creation and development of new marketing strategies for gaining business advantages. The Internet of Things (IoT) is one of those technologies that is set to become omnipresent across every industry. The rising smartphone penetration coupled with the growing number of internet users along with the high adoption rate of social media platforms is one of the key factors supporting the growth of the market in the coming years. Moreover, according to the Internet and Television Association of the United States, there is an exponential growth in the number of connected devices during the past eight years. The number of connected devices is projected to reach 50.1 billion by the end of 2020 from only 8.7 billion in 2012. A report published by Ericsson says, the number of IoT-connected devices grew exponentially in 2021 and was expected to reach 500 million devices by the end of 2022.

As IoT technology becomes more widely adopted, devices will produce exponentially more data globally in the next years. This will spur demand for data brokers even further. According to the report published by Cisco, IoT devices will generate data worth US$ 8 trillion by 2022. Cisco estimates that 40 per cent of data generated in 2020 comes from IoT-driven sensors.

The consumer data broker market is a rapidly growing industry that plays a vital role in providing businesses with valuable insights into consumer behaviour, preferences, and interests.

The global data broker market is segmented into consumer data and business data, based on data type. Consumer data brokers collect and analyze large volumes of consumer data from a variety of sources, including social media, online activity, purchasing history, and demographic information. They then package this data and sell it to businesses, which use it to inform their marketing and advertising strategies. Businesses are increasingly recognizing the value of personalized marketing efforts, which requires access to detailed insights into consumer behaviour and interests. Companies like Meta rely on user data to target their advertisements to specific audiences, which makes them a key player in the consumer data broker market. By generating significant revenue through advertisements, these companies demonstrate the value of consumer data and the role that data brokers play in providing businesses with valuable insights into consumer behaviour, preferences, and interests.

Retail accounts for a significant market share owing to the rising penetration of the internet and smartphones among consumers.

By end-user industry, the global data broker market is segmented as BFSI, retail, automotive, construction, and others. Retail companies are opting for data brokerage services to get advantages such as shopper marketing and retail merchandising by knowing the targeted group of consumers. The automotive industry also holds a significant share in this market on account of heavy investment requirements in these industries which are increasing the need among the major players to analyze the geographical and market trends to better plan their business strategies. BFSI will witness a substantial CAGR during the forecast period as some data brokerage companies specialize in risk mitigation which includes credit report and background checks and other identity verification services.

Geographically, the North American region is projected to hold a noteworthy share of the market on account of the availability of well-established infrastructure and the presence of numerous data broker companies across the region. Asia Pacific region is projected to show decent growth opportunities during the forecast period and beyond on account of the rapid industrialization in major developing countries such as India, China, Vietnam, and Indonesia. In addition, the growing competition across the various end-use industries is also projected to bolster the growth of the market in this region.

Global Data Broker Market Scope:

Segmentation:

• By Data Type
  • Consumer Data
  • Business Data
• By End-User
  • BFSI
  • Retail
  • Automotive
  • Construction
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • Others