Dublin, Nov. 09, 2023 (GLOBE NEWSWIRE) -- The "Synthetic Data Generation: Global Markets" report has been added to ResearchAndMarkets.com's offering.
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.
The report offers an extensive examination of the global synthetic data generation market, including an overview of the market's current state and a thorough analysis of the products and strategies employed by the companies operating within it.
The report leverages the year 2022 as a foundational reference point and proceeds to furnish estimated market data for the years spanning 2023 through 2028. Revenue projections for this period are categorized based on several key factors, including component, deployment, data type, industry, and geographical region.
The synthetic data generation market is experiencing rapid expansion, driven by its focus on crafting synthetic data that closely mirrors real-world information. Synthetic data serves the purpose of closely emulating authentic data sets while safeguarding privacy and confidentiality. Its generation involves the application of advanced algorithms and techniques, equipping organizations with the capacity to produce extensive and diverse datasets without relying on sensitive or personally identifiable information.
This burgeoning market for synthetic data generation is propelled by the growing demand among organizations across various industries for cost-effective and privacy-compliant alternatives to authentic data. Such synthetic data finds application in training machine learning models, conducting simulations, and facilitating data-driven research endeavors.
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.
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
- 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
- Microsoft Corp
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
- Overview
- Regulatory Framework
- Synthetic Data Generation Tools
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Technologies and Developments
- Generative Adversarial Networks
- Deep Reinforcement Learning from Human Feedback (Drlhf)
- Variational Autoencoders
Chapter 4 Market Breakdown by Component, Deployment, Data Type and Industry
- Synthetic Data Generation Market by Component
- Solutions
- Services
- Synthetic Data Generation Market by Deployment
- Cloud
- On-Premises
- Synthetic Data Generation Market by Data Type
- Tabular Data
- Text Data
- Image and Video Data
- Other Data Types
- Synthetic Data Generation Market by Industry
- Banking, Financial Services and Insurance (Bfsi)
- Healthcare
- Retail and E-Commerce
- It and Telecommunications
- Manufacturing
- Media and Entertainment
- Other Industries
Chapter 5 Market Breakdown by Region
- Overview
- North America
- Europe
- Asia-Pacific
- Rest of the World
Chapter 6 Esg Developments
- Esg Issues in Synthetic Data Generation
- Carbon Footprint/Environmental Impact
- Electricity
- Synthetic Data Generation Industry Esg Performance Analysis
- Case Study
- Concluding Remarks Research
Chapter 7 Competitive Landscape
- Overview
- Market Share Analysis
- Recent Developments
Chapter 8 Company Profiles
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/mqw4uo
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