The report provides an overview of the global market for synthetic data generation, and a detailed analysis of the products and strategies of the companies in the market. Using 2022 as the base year, the report provides estimated market data for 2023 through 2028. Revenue forecasts for this period are segmented based on component, deployment, data type, industry and region. The report also focuses on the drivers and challenges that affect the market and the vendor landscape. The report looks at the current trends in the global market, and concludes with profiles of the major players in the market.
Report Includes
- 26 data tables and 29 additional tables
- An overview of the global markets for synthetic data generation
- Estimation of market size and analyses of global market trends, with data from 2022, estimates for 2023, and projections of compound annual growth rates (CAGRs) through 2028
- Evaluation and forecast the synthetic data generation market size in dollar value terms, and corresponding market share analysis by component, deployment, data type, industry, and region
- Assessment of the key drivers and constraints that will shape the market for synthetic data generation and discussion on the upcoming market opportunities and areas of focus to forecast the market into various segments and sub-segments
- Identification of the companies best positioned to meet this demand because of their proprietary technologies, strategic alliances, or other advantages
- Review of the key patent grants and new technologies in the synthetic data generation sector
- Insight into the recent industry strategies, such as M&A deals, joint ventures, collaborations, and license agreements currently focused on synthetic data generation products and services
- Company profiles of major players within the industry, including Amazon Inc., Google Inc., IBM Corp., and Microsoft Corp.
Table of Contents
Executive Summary
Synthetic data generation is a swiftly expanding industry devoted to the creation of synthetic data that mimics real-world information. The purpose of synthetic data is to closely resemble authentic data collections while protecting privacy and confidentiality. It is generated using sophisticated algorithms and techniques, enabling organizations to generate large-scale, diverse datasets without using sensitive or personally identifiable information. The market for synthetic data generation is growing as organizations in a variety of industries seek cost-effective and privacy-compliant alternatives to real data for training machine learning models, conducting simulations and undertaking data-driven research. The global market for synthetic data generation was valued at $381.3 million in 2022. It is estimated that the revenue will grow to $2.1 billion during the forecast period of 2023 to 2028.
In this report, the global market is segmented by component, deployment, data type, industry and geographic region. Components are categorized into solutions and services. The solution segment was valued at $243.2 million in 2022 and, at a CAGR of 31.1%, is forecast to reach $1.2 billion by the end of 2028.
Data types include tabular data, text data, image and video data, and others. The latter includes time series data and sound generation data. Tabular data accounted for 36.4% of the global market in 2022, a share valued at $138.7 million. The tabular data segment is projected to grow at a CAGR of 29.6% over the forecast period.
In this report the global market for synthetic data generation has been segmented into North America, Europe, Asia-Pacific and Rest of World (RoW). In 2022, North America accounted for 36.1% of the global market, a share valued at $137.5 million. The key factors driving the North American market are the presence of many leading global companies, a robust technology infrastructure and high adoption of advanced technologies such as artificial intelligence (AI) and machine learning (ML). Following North America, the European market for synthetic data generation was valued at $112.9 million in 2022, and is projected to grow at a CAGR of 31.8% to reach $575.9 million through 2028.
Companies Mentioned
- Amazon Inc.
- Broadcom Inc.
- Databricks
- Google Inc.
- Ibm Corp.
- Informatica Inc.
- Microsoft Corp.
- Mostly Ai Solutions Mp GmbH
- Mphasis Ltd.
- Nvidia Corp.
- Openai Lp
- Sogeti (Division of Capgemini Group)
- Synthesia Ltd.
