Data Marketplace Platform Market (By Component: Platform, Services; By Type, By Revenue Model; By Enterprise Size; By End Use) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

The global data marketplace market was valued at USD 785 million in 2021 and it is predicted to surpass around USD 5.6 billion by 2030 with a CAGR of 24.4% from 2022 to 2030.

Report Highlights

• The platform segment held the largest revenue share of 63.3% in 2021 and is expected to witness a CAGR of 22.9% during the forecast period. 
• The services segment is anticipated to witness a CAGR of 24.87% over the forecast period. 
• The B2B data marketplace platforms segment held the largest revenue share of 58.8% in 2021 and is expected to expand at a CAGR of 22.92% during the forecast period. 
• The IoT data marketplace platforms segment is anticipated to witness the fastest CAGR of 25.6% throughout the forecast period. 
• The subscription segment dominated with the largest revenue share of 49.3% in 2021 and is anticipated to witness a CAGR of 25.78% during the forecast period. 
• The large enterprises segment held the largest revenue share of 59.3% in 2021 and is expected to witness a CAGR of 23.5% during the forecast period. 
• The SMEs segment is anticipated to witness the fastest CAGR of 24.5% throughout the forecast period. 
• The financial services segment dominated with a revenue share of 21.3% in 2021 and is expected to witness a CAGR of 18.8% during the forecast period. 
• The retail and consumer goods (CG) segment is anticipated to witness the fastest CAGR of 28.7% throughout the forecast period. 
• North America led with a revenue share of almost 38.3%. 
• Asia Pacific is expected to witness a CAGR of 27.07% during the forecast period. 

A data marketplace is a transactional platform that facilitates buying and selling of different data types, offering a unique user experience. Data marketplaces comprise cloud services where businesses or individuals can upload data to the cloud. The different data types, such as demographic, business intelligence, and firmographic, personal data, are available in a data marketplace.

The data marketplace platform enables self-service data access, maintaining a high quality of data, consistency, and security for both parties. Businesses and organizations are commencing to augment internal data sets with external data propelling the growth of the data marketplace platform market. It enables buyers with segmented, dependable, and relevant data to access data via analytical tools and platforms to meet business needs.

For instance, the Microsoft Azure marketplace provides data through a uniform interface, and developers can access data via Microsoft Excel and PowerPivot. The gradual shift from conventional business practices to online platforms resulted in the establishment of efficient data marketplace services and solutions. Data marketplace arranges data flow and optimizes data sourcing, providing a data analytics framework for tuning decision models to optimize and improve processes.

Several companies have launched new platforms during the COVID-19 pandemic. For instance, in 2020, Aiisma, a data marketplace, launched Aiisma App with Aiihealth feature, consisting of marketplaces’ location sharing and health mapping features. Users can anonymously and consensually share their behavioral data in exchange for rewards, and this application has proven helpful in creating a digital fence against the pandemic.

The growth is attributed to the emergence of Big Data, web scraping, and advancements in blockchain, as it provides access to considerable data to enhance performance and generate revenue. Web scraping is an automatic process of extracting data from websites; it automates data collection, unlocks web data sources, and suggests data-driven decisions that add value to decision-making. The increasing adoption of AI, data mesh, data management, and blockchain in data & analytics is propelling the usage of self-service analytics solutions.

The market is projected to witness significant growth attributed to the increasing adoption of Internet of Things (IoT) solutions and the deployment of cutting-edge technologies such as AI, AR/VR orchestration capabilities, and machine-to-machine (M2M) advancements in communications networks. Additionally, a growing emphasis on the usage of cloud services is anticipated to boost the growth.

Furthermore, the rising adoption of the data marketplace in several verticals such as BFSI, healthcare, retail & consumer goods, and media & entertainment, among others, contribute positively to the growth of the industry. It also enables efficient usage and management of data resulting in a maximized return on investment (ROI). It also provides businesses and organizations access to data marketplaces such as personal, business-to-business (B2B), and IoT data marketplace to meet specific requirements efficiently and cost-effectively secured by blockchain.

Additionally, several organizations are launching data marketplaces to promote data sharing among data service providers and end-users resulting in augmented demand for data marketplace platforms. The report covers the competitive analysis of the top ten industry players including Acxiom LLC, AWS, Dawex, Snowflake, Quandl, BattleFin, Narrative, Datarade, Oracle, Microsoft, Adobe, and SAP SE.

The key players are adopting several key strategies and development such as product launches, partnerships and collaborations, and mergers and acquisitions to obtain a significant market share. For instance, in March 2022, Nokia announced a collaboration with Equideum Health to utilize Nokia Data Marketplace (NDM) blockchain solutions to enable a multi-party ecosystem. It will allow varied person-centric use cases by harnessing advanced technologies in the data marketplace, data exchange, and data management.

Scope of The Report

Component Insights

The platform segment held the largest revenue share of 63.3% in 2021 and is expected to witness a CAGR of 22.9% during the forecast period. The growth is attributed to the emergence of cloud platforms, and the increasing adoption of IoT, AI, ML, and big data for data management. These technological advancements make data sharing, exchange, and management easier without the need for huge hardware equipment with flexible revenue models. Data marketplace platform enables buyers to browse data, compare, support on-platform communication with data providers, and purchase data. These benefits facilitated by the data marketplace platform are fueling the growth of this segment.

The services segment is anticipated to witness a CAGR of 24.87% over the forecast period. The segment includes professional, strategic, advisory, and supports services. These services enable buyers to connect to the support center of data marketplace platforms to track service requests, gain expertise on data virtualization, and provide buyers with tailored advice and strategic engagement to overcome organizations' challenges and achieve business objectives. It also provides expertise and resolves logistical issues. For instance, if two organizations utilize different currencies, then data marketplace platforms offer independent advice during the data commerce experience to ensure data providers and buyers are satisfied.

Type Insights

The B2B data marketplace platforms segment held the largest revenue share of 58.8% in 2021 and is expected to expand at a CAGR of 22.92% during the forecast period. The segment growth can be attributed to the increasing adoption of big data, the emergence of AI and ML, and business-to-business data marketplace platform solutions. The key players are introducing enhanced data marketplace platform solutions such as Oracle, AWS, and Snowflake, to meet end-users’ requirements.

The demand for business data platforms is increasing as data providers can integrate their data easily, fueling the growth of the industry. The aforementioned benefits offered by data marketplace platforms are encouraging data providers and SaaS vendors to invest in research and development to enable low-cost and effective solutions, which is expected to provide lucrative opportunities for the industry.

The IoT data marketplace platforms segment is anticipated to witness the fastest CAGR of 25.6% throughout the forecast period. The growth of this segment can be attributed to the ease of data integration and growing network of connected devices. An IoT data marketplace platform is a platform that produces real-time data collected from connected devices available for buying and selling.

IoT data marketplace platforms ensure the unification of harnessed and structured data produced on a global scale yielding insights into technological development, consumer preferences, and trends. IoT marketplaces offer an accessible open network with flexible pricing options such as 'pay-per-hour enabling an opportunity for businesses to monetize data.

Huge amounts of data are being produced with the increasing volumes of hardware used in the technology stack, which is often considered a by-product. The by-product or IoT-sourced data enables tapping into the revenue streams by utilizing products/connected devices already in use.

Revenue Model Insights

The subscription segment dominated with the largest revenue share of 49.3% in 2021 and is anticipated to witness a CAGR of 25.78% during the forecast period. Data marketplace platforms charge a commission fee for the services and solutions in exchange for data to the buyers.

The subscription revenue model can be further categorized into one-off data purchases, ongoing data subscriptions, and usage-based data licenses. One-off data purchases enable buyers to pay for a single dataset at a fixed price. This type of subscription transaction does not guarantee rights to further dataset updates.

The ongoing data subscription allows buyers to access the data on a fixed-term subscription that can be renewed periodically, such as monthly or yearly. The usage-based data license comprises an ongoing agreement between the provider and the buyer, wherein the buyer pays for the data as and when they need it.

Enterprise Size Insights

The large enterprises segment held the largest revenue share of 59.3% in 2021 and is expected to witness a CAGR of 23.5% during the forecast period. Increasing demand for business and IoT data marketplace platforms to meet the end-user's requirements are driving the growth. The key data service providers and SaaS vendors are investing in research and development activities to create a robust platform for sharing data & information and enable direct and indirect monetization from revenue streams.

Large enterprises are actively engaged in partnerships and collaborations to increase their applicability in multiple use cases. For instance, in March 2022, Nokia announced a collaboration with Equideum Health to utilize Nokia data marketplace platform (NDM) blockchain solutions to enable a multi-party ecosystem. It will allow varied person-centric use cases by harnessing advanced technologies in the data marketplace platform, data exchange, and data management.

The SMEs segment is anticipated to witness the fastest CAGR of 24.5% throughout the forecast period. The growth is attributed to the rising demand for robust data marketplace platforms allowing monetization opportunities among SMEs. These solutions facilitate exponential values leveraging economies of scale via information exchange. SMEs are mainly focusing on advanced technologies such as AI, ML, and big data and are investing heavily in data marketplace platforms to gain insights into these technologies, which is expected to provide numerous opportunities over the forecasted period.

End-user Insights

The financial services segment dominated with a revenue share of 21.3% in 2021 and is expected to witness a CAGR of 18.8% during the forecast period. Cloud platforms allow financial organizations to leverage big data for financial use cases, such as delivering personalized recommendations, generating new revenue streams through data-driven suggestions, and creating efficient services to gain a competitive advantage.

Data marketplace platforms allow financial firms to scale digital platforms, meet shifting regulatory requirements, and navigate a complex data landscape. It also enables financial organizations to thrive in a data-intensive environment with tailored solutions and highly-regulated data marketplace platform capabilities such as built-in performance optimizations, administration as a service, and data management. For instance, in 2021, Snowflake launched industry-tailored financial services data cloud platform to accelerate data-driven and customer-centric innovations in the BFSI industry.

The retail and consumer goods (CG) segment is anticipated to witness the fastest CAGR of 28.7% throughout the forecast period. Data marketplace platforms enable manufacturers and retailers to access, exchange, and share data and shift toward an online data-intensive infrastructure. These platforms offer retail market data providing information related to the performance of the retail businesses & markets and optimized layouts of industry trends.

Retail organizations and enterprises are rapidly adopting cloud platforms to improve customer experience, transform end-to-end supply chains, and leverage data from e-commerce and digital channels. Additionally, it also optimizes supply chain and logistics, increases personalization opportunities, and enables data-driven merchandising.

Regional Insights

North America led with a revenue share of almost 38.3%. The growth is attributed to the increasing adoption of IoT solutions and the deployment of cutting-edge technologies such as AI, AR/VR orchestration capabilities, and machine-to-machine (M2M) advancements in communications networks in the region. The key growth drivers include the presence of significant players such as Acxiom LLC, AWS, Snowflake, and Quandl, among others, which have propelled the industry growth.

Several companies operating in this region are developing innovative data marketplace platform services & solutions to provide end-to-end efficient usage and management of network services, contributing to the growth. Moreover, cloud platforms such as data exchange platforms and data sharing are promoting the adoption of the data marketplace platform as several companies are heavily investing, and early adoption of advanced technologies owing to high digital end-user engagement are contributing to the growth. Also, the considerable adoption of IoT is expected to provide numerous growth opportunities.

Asia Pacific is expected to witness a CAGR of 27.07% during the forecast period. India and China have an extensive and distributed customer base driving the demand and creating new opportunities for data marketplace platform solutions and services. The growth is prominently due to the increasing developments of IoT technologies and data infrastructure and the growing adoption of data marketplace platform services in several applications, such as healthcare, government, manufacturing, and financial services.

Furthermore, the region's untapped potential generates new investment opportunities for data service providers. An emerging number of Small and Medium Enterprises (SMEs) and startups in the Asia Pacific is fueling the growth of the data marketplace platform industry. Moreover, many companies are expanding their presence across the region, resulting in a broad customer base, which provides lucrative growth opportunities.

Key Players

• Acxiom LLC
• AWS
• Dawex
• Snowflake
• Quandl 
• BattleFin
• Narrative
• Datarade
• Oracle
• Microsoft
• Adobe
• SAP SE

Market Segmentation

• By Component
• Platform
• Services
• By Type
• Personal Data Marketplace Platforms
• B2B Data Marketplace Platforms
• IoT Data Marketplace Platforms
• By Revenue Model
• Subscription
• Commission
• Paid features
• Others
• By Enterprise size
• Large Enterprises
• SME's
• By End-user
• Financial Services
• Advertising, Media & Entertainment
• Retail & CPG
• Healthcare & Life Sciences
• Technology
• Public Sector
• Manufacturing
• Other (Education, Automotive, Energy, Oil & Gas)
• By Regional Outlook
• North America

• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Asia Pacific
• China
• Japan
• India
• South Korea
• South America
• Brazil
• Middle East & Africa