Middle East And Africa Data Monetization Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Enterprise Size (Small, Medium, Large), By End-User Industry (Retail, Manufacturing, Automotive, BFSI, Media And Entertainment, Others), And By Country - Forecasts From 2022 To 2027

The Middle East and Africa data monetization market is projected to witness a compound annual growth rate of 18.47% during the forecast period. 

Factors such as the rising adoption of advanced technologies like the Internet of Things and artificial intelligence and big data are projected to increase the demand for data monetization across the Middle East and Africa over the forecast period. Moreover, the increasing shift towards cloud-based technology solutions due to massive computing and large data generation is expected to drive overall market growth in the coming years. Middle East’s traditional business model has significantly changed and shifted from oil, retail, and property to IT and digital advancements. The countries in the region have shown their interest in staying ahead in technological advancement and are embracing developing technologies such as AI or machine learning by creating efficient plans and substantial capital investments. The market is segmented into- By Offering, By Deployment Model, By Enterprise Size, By End-User Industry, and By Country.

MEA Data Monetization Market: Growth Drivers

• Rise in the adoption of advanced technology

One of the prime reasons supporting market growth is the rise in the adoption of advanced technology such as AI, machine learning, and IoT. In a report published by Microsoft recently, it was mentioned that machine learning is the most commonly used AI technology by companies across the region. Middle East's traditional business model has changed from oil and retail to IT and digital advancement. Players operating in the region are continuously investing, making new strategies to launch innovative products in the field of IoT, cloud, and e-commerce. The region is trying its best to stay ahead in technological advancements. With the help of significant capital investments and efficient plans, the region is trying to enhance developing technologies that are forecasted to have a positive impact on the overall market growth. Furthermore, growing digitalization in countries like UAE and Saudi Arabia will further drive the data monetization market growth across the region.

• Surge in cloud computing

Increasing adoption of cloud technology across the region, followed by continuous improvements in technologies, especially in countries like Saudi Arabia, Egypt, and UAE, is another factor that is driving the market growth. Additionally, the government of middle east countries focuses on developing advanced technologies. They are taking several initiatives such as Smart city Neom, Saudi Vision 2030, and others to increase the number of connected devices, which is anticipated to support the market growth. Big players in the market are planning to launch cloud data centers across middle east countries. For instance, SAP has announced the launch of its first public cloud data center in Saudi Arabia, which is a part of Saudi Vision 2030. Microsoft has opened data centers in Dubai and Abu Dhabi as a part of its expansion strategy and is offering regional customers cloud computing services. Oracle has announced the launch of its cloud data center in MEA in Jeddah, Saudi Arabia. AWS opened the first AWS Middle East Region in Bahrain and has come into an agreement with Kuwait’s Ministry of Commerce and Industry (MOCI) and the Information and eGovernment Authority Bahrain. These developments are driving the cloud computing market in MEA, which is further anticipated to increase the demand for data monetization solutions which in turn is expected to drive the overall market growth.

MEA Data Monetization Market: By End-User

• Media & Entertainment

One of the prime reasons supporting segment growth is the rising demand for digital advertising. Increasing mobile penetration and internet subscription are driving digital development across the region. Enterprises present in the region are focusing on their digital ad expenditure. According to Telecommunications Regulatory Authority (UAE), in Mar 2021, there were more than 3 million internet subscriptions in UAE. Moreover, the surge in social media advertising, followed by banner advertising, video advertising, search advertising, etc., is projected to create a large volume of data that needs to be monetized, which is anticipated to drive overall market growth. Recent launches and development in the sector will further contribute to the overall market growth. For instance, Abu Dhabi Media network Abu Dhabi which is UAE’s leading public media services company has announced the introduction of its new program cycle. The program cycle will feature a variety of entertainment, social, and businesses focused on delivering innovative content and interacting with listeners through digital platforms.

COVID-19 Insights

The data monetization market in the region was witnessing a healthy growth rate before the outbreak of the COVID-19 pandemic. The growing digitalization of businesses in the region, leading to increased data generation, and the increasing competition among the firms have been some of the major drivers of the market. However, the COVID-19 pandemic slowed down the growth of the Middle East and Africa data monetization market in 2020 due to decreased spending by businesses on data monetization amid the pandemic. As the COVID-19 pandemic brought a wave of financial crunch among businesses, they looked to reduce their expenditure. Furthermore, the market size of the end-user industries shrunk.

Competitive Insights

The market players are enhancing the market by offering tough competition with competitors. To expand their market share, these companies employ a variety of techniques. Among the most common methods are partnerships with those other competitors, mergers, and increasing investments. Existing players are also using acquisitions and mergers, and innovation development as effective approaches. Some major market players are Cisco, IBM, Accenture, Google, and Amazon.

Middle East and Africa Data Monetization Market Scope:

Market Segmentation:

The market has been analyzed through the following segments:

• By Enterprise Size
  • Small
  • Medium
  • Large
• By End-User Industry
  • Retail
  • Manufacturing
  • Automotive
  • BFSI
  • Media and Entertainment
  • Others
• By Country 
  • Saudi Arabia
  • UAE
  • Israel
  • Others