United States Data Monetization Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Offering (Solution, Services), By Deployment Model (On-Premise, Cloud), By Enterprise Size (Small, Medium, Large), And By End-User Industry (Retail, Manufacturing, Automotive, BFSI, Media And Entertainment, Others) - Forecasts From 2022 To 2027

United States data monetization is projected to grow at a CAGR of 6.42% to attain a market size of US$111.884 billion by 2027, from US$72.394 billion in 2020.

The major factors driving the market growth are the rapid adoption of cloud computing and digitalization, the increased volume of data generated, huge investments by key players operating in the region, and the increasing adoption of AI and IoT for data processing. Additionally, growing awareness about the potential benefits of data monetization is also driving market growth. The market is segmented into- By Offering, By Deployment Model, By Enterprise Size, By End-User Industry.

United States Data Monetization Market Drivers:

• Adoption of new technologies

 The growing use of advanced technologies such as Artificial intelligence, the Internet of Things, and Machine learning is expected to drive the market growth in the country during the forecast period. The growth of new businesses is supporting the expansion of big data analytics in the United States, which is anticipated to generate a considerable amount of data and significantly contribute to the overall market growth. Furthermore, many vendors in the market are focusing on providing solutions such as AI and IoT that can tackle network security issues which are expected to bring innovations in the market, which in turn is anticipated to drive the overall market growth in the coming years. Other factors contributing to the market growth are major market players in the country and rising strategic partnerships and collaborations.

• Increase in adoption of Cloud services

One of the prime reasons supporting market growth is the rising adoption of cloud services. The emergence of advanced technology and rising business opportunities in the US are expected to create several opportunities for vendors operating in the market.  Moreover, owing to the presence of a large number of data center migration service providers such as Google, Amazon, IBM, and VMware, among many others, and the high investments made by the governments of the United States and Canada are further anticipated to contribute to the overall market growth significantly. Additionally, the increasing shift of organizations towards digital transformation is expected to drive the adoption of cloud computing services in the country, which is anticipated to drive overall market growth.

COVID-19 Insights

The data monetization market in the country 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. The COVID-19 pandemic slowed down the growth of the United States data monetization market due to a lack of investments by vendors in their research and development activities. However, the market grew at an impressive pace in 2021 and is projected to continue the high growth.

Segmentation

The market has been analyzed through the following segments:

• By Offering
  • Solution
  • Service
• By Deployment Model
  • On-premise
  • Cloud
• By Enterprise Size
  • Small
  • Medium
  • Large
• By End-User Industry
  • Retail
  • Manufacturing
  • Automotive
  • BFSI
  • Media and Entertainment
  • Others