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.
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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.
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North America accounted for the largest share in the Global Data Broker Market owning to factors such as speedy adoption of different analytic methods and high adoption rate of internet of things. Additionally increasing number of mobile devices boosting the data broker market and rapid demand of bulk data in digital and non-digital market have been fuelling the growth of the regional market. However, Asia-Pacific is also expected to provide for the fastest growing market owing to inclination towards the usage of complied data in order to save time and energy and data broker services as a part of business.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Data Broker market size & forecast. The report promises to provide state-of-the-art technology of Data Broker production and industry insights which help decision-makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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