“Global Data Enrichment Solutions Market to reach a market value of USD 4.3 Billion by 2031 growing at a CAGR of 9.7%”
The Global Data Enrichment Solutions Market size is expected to reach $4.3 billion by 2031, rising at a market growth of 9.7% CAGR during the forecast period.
Healthcare organizations focus on population health management initiatives to optimize care delivery, prevent chronic diseases, and reduce healthcare costs. Data enrichment solutions support population health analytics by aggregating and analyzing enriched patient data, identifying high-risk populations, monitoring health trends, and implementing targeted interventions for better health outcomes. Thus, the healthcare segment acquired 11% revenue share in the market 2023.
As digital platforms, IoT devices, social media interactions, and online transactions continue to expand, there is a significant increase in the diversity and quantity of generated data. This diverse data includes structured and unstructured data, text, images, videos, sensor data, etc.
Additionally, enriched data enables precise audience segmentation and targeting, optimizing marketing spend and resources. Therefore, the rising demand for personalized customer experiences drives the market’s growth.
However, implementing data enrichment solutions often requires substantial investments in infrastructure, including hardware, software licenses, and IT resources. Organizations need robust servers, storage systems, and networking equipment to efficiently manage and process large volumes of data. Setting up and maintaining this infrastructure entails significant upfront costs.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
On the basis of deployment, the market is segmented into cloud and on-premises. The cloud segment recorded 56% revenue share in the market in 2023. Cloud-based solutions offer scalability, allowing organizations to scale up or down their data enrichment capabilities based on business needs and data volumes.
Based on enterprise size, the market is categorized into large enterprise and SMEs. The SMEs segment witnessed 36% growth in the market in 2023. SMEs increasingly recognize the importance of data-driven insights in competing effectively in their respective markets
By end-use, the market is divided into BFSI, government, healthcare, IT & telecom, manufacturing, retail, and others. In 2023, the IT & telecom segment registered 23% revenue share in the data enrichment solutions market. IT & telecom companies manage vast data from network operations, customer interactions, and service delivery.
Free Valuable Insights: Global Data Enrichment Solutions Market size to reach USD 4.3 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region generated 28% revenue share in the market. Many countries in the Asia Pacific region are undergoing rapid digital transformation across industries such as finance, healthcare, retail, manufacturing, and telecommunications.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 2.1 Billion |
| Market size forecast in 2031 | USD 4.3 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 9.7% from 2024 to 2031 |
| Number of Pages | 227 |
| Tables | 370 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Deployment, Enterprise Size, End-use, Region |
| Country scope |
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| Companies Included | Demandbase, Inc., Experian Information Solutions, Inc. (Experian plc), Enricher.io, Datamatics Business Solutions Limited, Crunchbase Inc., Cognism Limited, Clearbit (HubSpot, Inc.), 6sense, ZoomInfo Technologies Inc., and Lusha Systems Inc. |
By Deployment
By Enterprise Size
By End-use
By Geography
This Market size is expected to reach $4.3 billion by 2031.
Rapid increase in data generated from multiple sources are driving the Market in coming years, however, High initial and ongoing costs associated with data enrichment solutions restraints the growth of the Market.
Demandbase, Inc., Experian Information Solutions, Inc. (Experian plc), Enricher.io, Datamatics Business Solutions Limited, Crunchbase Inc., Cognism Limited, Clearbit (HubSpot, Inc.), 6sense, ZoomInfo Technologies Inc., and Lusha Systems Inc.
The expected CAGR of this Market is 9.7% from 2024 to 2031.
The Large Enterprise segment is leading the Market by Enterprise Size in 2023; thereby, achieving a market value of $2.6 billion by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.4 billion by 2031.
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