- January 2020 |
- Information and Communication Technology (ICT) / IT Services
Global Data Broker Market by Data Type (Consumer Data, Business Data), By End-User Industry (Retail, BFSI, Automotive, Construction, Others) and by Region, Global Forecast 2020-2026
Global Data Broker Market: An Overview
A Data Broker collects Information about Individuals from private sources and public records including census and change of address records, driving records and motor vehicle, User-contributed material to social networking sites, media and court reports, consumer purchase histories, voter registration lists and terrorist watch lists, bank card transaction records, health care authorities, web browsing histories.
The global data broker market is expected to witness a significant growth over the forecasted period from 2020-2026 projecting a CAGR of 15.67 percent. The growth of the market is majorly attributed to factors such as increasing demand for various data based information regarding consumers, technical data related to weather, natural events, different organizations, natural events, drug studies and real estate information among others. The competency levels in the market have been compelling the companies and organizations to approach various data brokerage firms for necessary, relevant and customize data based information to formulate their marketing strategy in a more viable form.
Global Data Broker Market: Market Dynamics
Data brokers usually source information from an array of secondary sources and compile them to drive detailed profiles of enquired entities. The companies get their revenue by selling the compiled information to other entities. According to Federal Trade Commission, the data brokers collect personal information about consumers from wide range of sources and provide for a variety of purposes and including verifying an individual identity, marketing products and detecting frauds. The factors affecting the growth of the market are proliferation of digitization and upsurge demand of operational management system by several end users.
The data broker market is neither homogeneous nor regulated in most regions. Global Data Broker Market overs a wide range of financial services firms, retail companies, telecommunications, individual consumers, real estate companies, power and energy industry and automotive industry among others. The data related information is usually collected for the purpose of research and forecast. The increasing growth of business intelligence and analytics and internet of things are two key factors expected to drive the growth of the market in the forecasted year. Additionally in 2019 growing competition across retail and BFSI industries and increasing digitization of business functions has been driving the expansion of market.
Global Data Broker Market: Market Segmentation
On the basis of...