Transparency Market Research (TMR)’s reveals that the global market for data broker has a high degree of competition. Company’s operating in the market are actively focusing on offering customizes data services that can meet the specific requirements of their clients. Some of the leading market include Experian Plc, CoreLogic, Inc., Oracle Corporation, H.I.G. Capital, LLC, TowerData Inc., Bloomberg L.P, Fair Isaac Corporation (FICO), Moody’s Corporation, Thomson Reuters Corporation, Ignite Technologies, Inc., IBM Corporation, Qlik Technologies Inc., Acxiom Corporation, Equifax, Inc., TransUnion LLC, Lifelock, Inc., PeekYou LLC, Alibaba Group Holdings Limited, Datasift Inc., RELX Group Plc., Nielson Holdings PLC, Wolters Kluver N.V., HG Data Company, IHS Markit and Morningstar, Inc.
According to the recent report published by TMR, global market for data broker will surge at 11.5% CAGR between 2017 and 2026. Enterprises are striving to use the bulk of data that is generated from various digital and non-digital peripherals for developing new marketing strategies. In addition, customer-facing businesses are utilizing data analytics to understand market trends, consumer behaviour and growth opportunities. This is creating a strong demand for data broker product and services. Data brokers do the hard work of collecting various types of data from miscellanies sources, which can be of great significance. The data provided by data brokers is not only used for analysing purposes but also for tracking potential customers and operation management. Such factors are expected to reflect favourably on the global market for data broker in the forthcoming years.
As per the report, North America market is expected to dominate global data broker market in 2017 and beyond. North America data broker market is set to witness a CAGR of 12.3% over the forecast period. Over the next couple of years, demand for data broker products and services is also expected increase in regions such as Europe and Asia Pacific excluding Japan (APEJ).
Based on data category, demand for consumer data is expected remain relatively high. Global sales of consumer data is estimated to command for more than one-third revenue share of the global market by 2026-end. Based on data type, the structured data will remain a highly attractive segment during the forecast period. By the end of 2017, nearly US$ 110,605.0 Mn worth structured data is likely to be sold globally. By pricing model, the pay per use paid segment is expected to surpass a market valuation of US$ 163,802.3 Mn by 2026. On the basis of end use sector, the BFSI account for the largest market share in terms of revenue and is projected to register above-average growth in foreseeable years.
Data Brokers Remain a Major Subject of Scrutiny among Policy Makers and Consumer Groups
Although the information mined by data brokers are usually used for business innovation and to improve consumer experience, it doesn’t spare them the criticisms associated with consumer privacy. Policy makers and consumer groups remain extremely critical of the business practises of data brokers. These has a significant rise in spamming activities and unsolicited promotional messages, which brings data brokers under the radar as well.