Data broker market is anticipated to grow at a considerable CAGR of 6.4% during the forecast period. The primary factor contributing to the market growth include the expansion of business intelligence and the generation of larger data sets. The BI industry is witnessing a huge volume of data to increase the value of existing software and tool a business uses. It combines data from one or more resources, analyzes, and processes it to convert it into actionable insights, which in turn reduces the operational cost along with enhancing efficiency. Thus, further resulting in the generation of larger data sets that act as a beneficial tool to cater to the requirements of BI across the globe. Additionally, BI offers a real-time view of relevant business data that benefits the end-user with data clarity, better customer experience, and increased efficiency, hence offering a better analysis of competitive advantage.

rising data marketplace in the information industry. Data brokers are also known as information brokers, data providers, and data suppliers. These companies collect data themselves or buy it from other business data companies. Business data companies provide information about the users such as a credit cards, internet history, social sites, and others. Also, data about the consumers are collected from other offline sources such as Government agencies, hospitals, and other consumer goods sectors. Big firms also spend a huge amount in federal lobbies for consumers’ data. According to The Markup Organization, in 2020, 25 companies combined spending on federal lobbying worth $29 million. Big Companies such as Oracle spent $9.57M, Accenture spent $3.25M, PwC spent $2.82M, Deloitte spent $2.40M, RELX spent $2.38M, S&P Global spent $1.62M, Experian spent $1.44M, Equifax spent $1.42M, TransUnion spent $1.35M, and other companies spent on lobbying.

Moreover, as per the Markup Organization, in 2020, the big tech firms with heavy lobbying presences, include Facebook, Amazon, and Google. Facebook spent $19.6 Million Amazon $18.7 Million, and Google $8.8 Million in the same period.

Segmental Outlook 

The global data broker market is segmented based on the type and application. Based on the type, the market is sub-segmented into structured data, unstructured data, and custom-structured data. Based on the application, the market is sub-segmented into BFSI, IT & telecom, healthcare, government & defense, manufacturing, and others. Among the type, the unstructured data sub-segment is anticipated to hold a considerable share of the global data broker market. However, custom-structured data is expected to witness lucrative growth over the forecast period. 

Among the application, the BFSI sub-segment is expected to hold a prominent share of the global data broker market over the forecast period. The primary factor contributing to the growth of the segment includes the rising offerings of fraud detection services especially used by the financial sector. The BFSI sector employs information data brokers to find more information about an individual before granting a loan. This offers incremental opportunities for cloud access security brokers and commercial data brokers across the globe. An increase in the usage of integration brokerage software in the data broker industry is creating significant opportunities for market players. A rise in applications of data broker services in various end-use industries is expected to augment the data broker market.

Regional Outlooks

The global data broker market is further segmented based on geography including North America (the US, and, Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, North America is expected to hold a prominent share of the global data broker market, followed by the European region.

Global Data Broker Market Growth, by Region 2022-2028

North America is Expected to Hold a Prominent Share of the Global Data Broker Market

Among all regions, North America is expected to hold a prominent share of the global data broker market over the forecast period, owing to the strong presence of key software organizations in nations including the US and Canada. Another factor propelling regional growth includes the rising implementation of introducing several data-broking laws and regulations. For instance, in August 2022, the government of California laws to make data brokering a more transparent industry. For risk mitigation of data brokerage, the Federal Trade Commission (FTC) has published reports and provided recommendations to Congress to reduce the engagement of data broker firms.

Market Players Outlook

The major companies serving the global data broker market include Acxiom Corp., Experian Plc, Equifax, Inc., CoreLogic, Oracle Corp. (DataLogix), Moody’s Corp., Epsilon, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. Key players are investing in research and development to further grow the business. For instance, in April 2022, Experian launched a new PowerCurve Strategy Management solution. It delivers a decisioning solution as software-as-a-service (SaaS) via cloud to assist organizations in extracting existing data. The software launched combines machine learning (ML) and company’s deep knowledge of the industry to produce advanced data-driven insights.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global data broker market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.