Data Broker Market Research Report Information By Data Category (Consumer, Credit, Government, Technical, Real Estate, Education & Training, Product & Services, Risk Management, Data Types), Data Type (Unstructured Data, Structured Data, and Custom Structure Data), Pricing Model (Subscription Paid, Pay Per Use Paid and Hybrid Paid Models), End Use Sector (BFSI, Retail And FMCG, Manufacturing, Media, Government Sector, and Others Sector), And By Region (North America, Europe, Asia-Pacific, And Rest of The World) – Forecast Till 2032.

Data Broker Market Overview

Data Broker Market Size was valued at USD 245.8 Billion in 2022. The Data Broker Market industry is projected to grow from USD 264.2 Billion in 2023 to USD 471.25 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.50% during the forecast period (2023 - 2032).

The increasing demand for personalized and real-time data insights across diverse industries is further fueling the growth. Additionally, the expanding scope of data-driven decision-making strategies in businesses contributes to the heightened importance of data brokers in the market and is expected to be a significant market driver for the Data Broker Market.

Figure1: Data Broker Market, 2018 - 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Data Broker Market Trends

Market CAGR for data broker is being driven by the continuously rising penetration of IoT is leading to the generation of huge amounts of useful data for companies. The Internet of Things (IoT) is poised to become ubiquitous across all industries. The increasing prevalence of smartphones, coupled with a growing number of internet users and widespread adoption of social media platforms, is a key factor contributing to the anticipated growth of the market in the forthcoming years. According to the Internet and Television Association of the United States, the number of connected devices has seen exponential growth over the past eight years, projected to reach 50.1 billion by the end of 2020, up from 8.7 billion in 2012. Ericsson's report indicates that the number of IoT-connected devices that experienced significant growth in 2021, is expected to reach 500 million devices by the close of 2022.

As IoT technology gains broader acceptance, the production of data by devices is expected to increase exponentially in the coming years. This surge in data production is set to drive an even greater demand for data brokers. Cisco's report estimates that IoT devices will generate data valued at US$8 trillion by 2022, with 40 percent of the data generated in 2020 originating from sensors driven by IoT.As a result, it is anticipated that throughout the projection period, demand for the Data Broker Market will increase due to the continuously rising penetration of IoT is leading to the generation of huge amounts of useful data for companies. Thus, driving the Data Broker Market revenue.

Data Broker Market Segment Insights

Data Broker Market Data Category Insights

The Data Broker Market segmentation, based on Data Category includes Consumer, Credit, Government, Technical, Real Estate, Education & training, Product & services, Risk Management, and Other Data Types. The consumer segment dominated the market, accounting for 58% of market revenue (142.5 Billion). Prominent entities like Meta leverage user data to strategically target advertisements toward specific audiences, establishing themselves as significant players in the consumer data broker market. The substantial revenue generated through targeted advertisements underscores the intrinsic value of consumer data and underscores the pivotal role played by data brokers in furnishing businesses with invaluable insights into consumer behavior, preferences, and interests.

Data Broker Market Data Type Insights

The Data Broker Market segmentation, based on Data Type includes Unstructured Data, Structured Data, and Custom Structure Data. The unstructured data segment dominated the market, accounting for 58% of market revenue (142.5 Billion). In addition to conventional data formats, including standard rows and columns with well-defined schemas found in finance, order processing, manufacturing, and customer relationship management systems, Big Data analysis is significantly facilitated. The ability to extract economic value and ensure optimal operations now hinges on the effective management, analysis, and comprehension of information that is not readily interpretable without human or machine intervention. This includes diverse data types such as documents, XML, multimedia content, and online materials, as well as specialized information like satellite and medical images, maps, geographic data, sensor outputs, and architectures related to the semantic web.

Figure 2: Data Broker Market, by Data Type, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Data Broker Market Pricing Model Insights

The Data Broker Market segmentation, based on Pricing Model includes Subscription Paid, Pay Per Use Paid, and Hybrid Paid Models. The subscription paid segment dominated the market, accounting for 60% of market revenue (142.5 Billion). In light of the growing emphasis on data privacy and the enactment of regulations like GDPR (General Data Protection Regulation) in Europe and comparable laws globally, enterprises seek trustworthy data sources that align with these regulatory standards. Subscription-based models are often preferred for their transparent and controlled approach to data access, facilitating compliance with privacy laws.

Data Broker Market End Use Sector Insights

The Data Broker Market segmentation, based on End Use Sector includes BFSI, Retail And FMCG, Manufacturing, Media, Government Sector, and Others Sectors. The BFSI segment dominated the market, accounting for 60% of market revenue (142.5 Billion). To acquire a clearer picture of a person's finances, data brokers can combine information such as purchase history, loan history, and credit score. Banks, credit card companies, and landlords may find this information useful. They may use this information to decide whether they want to deal with someone and what the optimum interest rates would be based on the risks involved. These data brokers get information on specific individuals from a variety of public records. Brokers may use this information to develop a thorough profile of a person, including their entire name, age, education, career history, and even special hobbies. Due to the benefits of the Data Brokers, the segment growth is increasing.

Data Broker Market Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The anticipated expansion of the Data Broker market in North America can be attributed to several key factors. In the United States, the practice of data brokerage, involving the acquisition, collection, sale, licensing, and exchange of individuals' data, remains largely unregulated. Prominent data brokerage firms are currently offering extensive datasets on U.S. individuals for sale, and existing U.S. laws provide little restriction on the sale of this data to various sectors, including insurance companies, law enforcement agencies, and foreign entities. This data may be employed for activities that potentially infringe upon Americans' civil rights, pose risks to U.S. national security, and even jeopardize democracy. A suggested course of action involves the consideration of granting the executive branch the authority to implement export controls, thereby prohibiting potential data broker sales of sensitive information about U.S. citizens to foreign states and non-state entities closely affiliated with foreign intelligence and security services.

Additionally, the United States should incorporate data brokerage into comprehensive federal privacy legislation. This legislation would establish and enforce restrictions on the private collection, aggregation, sale, licensing, and sharing of data belonging to U.S. individuals. This includes placing limitations on the federal government's procurement of data broker data and enhancing the Federal Trade Commission's authority to investigate unfair and exploitative practices by data brokers.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: DATA BROKER MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Data Broker Market accounts for the second-largest market share In the Manufacturing sector, data brokers are employed to compile reports on various facets, including business performance, customer details, and market intelligence. Notably, the European Union's industrial production witnessed a substantial 8% rise in 2021 compared to 2020, followed by a continued upward trajectory with a 5% increase in 2022 compared to the preceding year. The EU's sold production value experienced a notable surge, escalating from €5,209 billion in 2021 to €6,179 billion in 2022, reflecting a noteworthy 19% increase. This data-driven approach proves invaluable in facilitating informed decision-making for enhanced production planning and forecasting. Further, the German Data Broker Market held the largest market share, and the UK Data Broker Market was the fastest-growing market in the European region

The Asia-Pacific Data Broker Market is expected to grow at the fastest CAGR from 2023 to 2032. The utilization of banking services within the data broker market is poised for significant growth, propelled by the escalating demand for enhanced customer service and risk management. The increasing regulatory pressures imposed by governments globally are compelling banks to embrace advanced analytics tools, including Artificial Intelligence (AI) and Machine Learning (ML) solutions. These technologies play a crucial role in uncovering valuable insights. Notably, in 2022, the Reserve Bank's Medium-term Strategy Framework 'Utkarsh 2.0' for the period 2023-2025, launched by the Governor, underscores the integral role of AI and ML-driven tools for data analysis and information creation. Moreover, China’s Data Broker Market held the largest market share, and the Indian Data Broker Market was the fastest-growing market in the Asia-Pacific region.

Data Broker Market Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Data Broker market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Data Broker industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Data Broker industry to benefit clients and increase the market sector. In recent years, the Data Broker industry has offered some of the most significant advantages to the business landscape. Major players in the Data Broker Market, including Acxiom, Experian, Equifax, CoreLogic, TransUnion, Oracle, Lifelock, H.I.G. Capital, PeekYou, TowerData, Alibaba, Bloomberg, Datasift, FICO, RELX, Thomson Reuters, Wolters Kluver, Ignite Technologies, HG Data, IBM, Morningstar, Qlik, IHS Markit are attempting to increase market demand by investing in research and development operations.

Oracle Corp (Oracle) is a leading provider of enterprise-focused cloud solutions. The company delivers a range of services, including database and middleware software, application software, and cloud infrastructure software and hardware systems. Oracle's offerings encompass integrated cloud solutions such as Infrastructure-as-a-Service (IaaS) and Software-as-a-Service (SaaS). Alongside providing licenses for on-premises new software and updates, Oracle offers support solutions. The company markets its solutions through independent software and hardware vendors, system integrators, and resellers. Oracle's on-premises portfolio includes hardware, servers, storage, networking, and industry-specific products, complemented by related support and services. Operating globally, Oracle serves clients across the Americas, Europe, the Middle East, and Asia-Pacific, with its headquarters located in Austin, Texas, USA.

Bloomberg LP (Bloomberg) is a media company specializing in business and financial information and news. The company provides professional services through Bloomberg Professional Services, which includes offerings such as the Bloomberg Terminal and enterprise data management and integration services. These services cater to financial professionals, offering real-time data, extensive research, and analytics to support informed decision-making. Bloomberg's Industry Products, such as Bloomberg New Energy Finance, Bloomberg Government, Bloomberg Law, and Bloomberg Tax, enable clients to access information and analysis related to government, laws, regulations, and energy. The company also delivers news through various channels, including digital, TV, mobile, radio, print, and live events. With operations spanning Latin America, North America, Europe, Asia, Africa, and Australia, Bloomberg is headquartered in New York, USA.

Key companies in the Data Broker Market include

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  Acxiom

  
  


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  Experian

  
  


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  Equifax

  
  


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  CoreLogic

  
  


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  TransUnion

  
  


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  Oracle

  
  


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  Lifelock

  
  


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  H.I.G. Capital

  
  


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  PeekYou

  
  


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  TowerData

  
  


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  Alibaba

  
  


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  Bloomberg

  
  


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  Datasift

  
  


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  FICO

  
  


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  RELAX

  
  


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  Thomson Reuters

  
  


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  Wolters Kluver

  
  


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  Ignite Technologies

  
  


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  HG Data

  
  


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  IBM

  
  


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  Morningstar

  
  


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  Qlik

  
  


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  IHS Markit

  
  

Data Broker Industry Developments

October 2020: In 2020, ICICI declared the adoption of satellite data to evaluate the creditworthiness of farmers. Various sectors, including FMCG, Government, retail, and manufacturing, also leverage the services of data brokers.

March 2023: In March 2023, Acxiom, a prominent customer intelligence company, revealed a partnership with Amazon Ads. This collaboration facilitates advertisers in seamlessly connecting with their target audience through Amazon DSP

Data Broker Market Segmentation

Data Broker Market Data Category Outlook

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  Consumer

  
  


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  Credit

  
  


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  Government

  
  


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  Technical

  
  


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  Real Estate

  
  


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  Education & Training

  
  


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  Product & Services

  
  


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  Risk Management

  
  


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  Other Data Types

  
  

Data Broker Market Data Type Outlook

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  Unstructured Data

  
  


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  Structured Data

  
  


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  Custom Structure Data

  
  

Data Broker Market Pricing Model Outlook

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  Subscription Paid

  
  


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  Pay Per Use Paid

  
  


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  Hybrid Paid Models

  
  

Data Broker Market End Use Sector Outlook

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  BFSI

  
  


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  Retail And FMCG

  
  


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  Manufacturing

  
  


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  Media

  
  


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  Government Sector

  
  


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  Others Sector

  
  

Data Broker Market Regional Outlook