Product Code: GVR-4-68039-982-5
Synthetic Data Generation Market Growth & Trends:
The global synthetic data generation market size is expected to reach USD 1,788.1 million in 2030 and is projected to grow at a CAGR of 35.3% from 2024 to 2030. Synthetic data has disrupted most industries with the affordability and accessibility of quality training data. Artificial data has gained ground to boost AI and innovation by minimizing data barriers.
Moreover, the exponential growth of smartphones and other smart devices has contributed to the growth of the industry. For instance, customers will receive an uptick from synthetic data to assess the performance of camera modules and decide the optimal camera placement in the car cabin. With the soaring demand for AI systems, synthetic data generation tools will likely gain traction.
It is worth noting that synthetic data is generally used in tandem with real-world data to test and develop AI algorithms. As companies across industry verticals adopt digitization, industry players are poised to emphasize artificial data to bolster strategies. Synthetic data has the innate ability to enhance the performance of computer vision algorithms to develop intelligent assistants in virtual reality and augmented reality and detect hate speech. Social media platforms, such as Meta (Facebook), could exhibit traction for synthetic data.
For instance, in October 2021, Facebook was reported to have acquired AI. Reverie, a synthetic data startup. It is worth mentioning that in July 2020, AI. Reverie was awarded a USD 1.5 million Phase 2 Small Business Innovation Research (SBIR) contract by AFWERX, an innovation arm of the U.S. Air Force. The company was expected to create synthetic images to train the accuracy of navigation vision algorithms.
The IT & telecommunication sector has shown an increased inclination for artificial data for increased security, scalability, and speed. End-users are likely to seek synthetic data to do away with roadblocks of security and privacy protocols. Some factors, such as advanced privacy-preserving, anonymization, and encryption, have encouraged leading companies to inject funds into synthetic data generation tools.
For instance, in October 2021, Turk Telekom announced infusing funds into four AI-based startups, such as Syntonym, B2Metric, QuantWifi, and Optiyol. Notably, Syntonym is a synthetic data anonymization technology developer.
Asia Pacific is expected to provide lucrative growth opportunities in the wake of the rising prominence of computer vision software, predictive analytics, and natural language processing. For instance, the use of artificial data to organize training data for natural language understanding has grown in popularity. China, Australia, Japan, and India could all be searched for prominently synthetic data to streamline privacy compliance and support client-centered goods and services.
With AI, machine learning, and metaverse counting heavily on large datasets to function effectively, the need for data protection could shift attention towards artificial data. Besides, several data scientists are banking on synthetic data to propel their real-world records and garner actionable insights.
Synthetic Data Generation Market Report Highlights:
- The fully synthetic data segment will grow owing to the need for increased privacy across emerging and advanced economies
- Based on end-use, the healthcare & life sciences segment will witness a notable CAGR in the wake of heightened demand for privacy-protecting synthetic data
- North America market value will be pronounced on the back of the rising footfall of computer vision and NLP
- Geographic expansion may also be noticeable in the coming years. The BFSI, healthcare, manufacturing, and consumer electronics industries continue to rely heavily on synthetic data as a growth enabler and established. Up-and-coming players are expected to strengthen their value propositions
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Synthetic Data Generation Market Variables, Trends, & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Market Size and Growth Prospects (USD Million)
- 3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
- 3.4. Synthetic Data Generation Market Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political Landscape
- 3.4.2.2. Economic and Social Landscape
- 3.4.2.3. Technological Landscape
- 3.4.2.4. Environmental Landscape
- 3.4.2.5. Legal Landscape
Chapter 4. Synthetic Data Generation Market: Data Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Synthetic Data Generation Market: Data Movement Analysis, USD Million, 2023 & 2030
- 4.3. Tabular Data
- 4.3.1. Tabular Data Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Text Data
- 4.4.1. Text Data Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5. Image & Video Data
- 4.5.1. Image & Video Data Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6. Others
- 4.6.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Synthetic Data Generation Market: Modelling Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Synthetic Data Generation Market: Modelling Movement Analysis, USD Million, 2023 & 2030
- 5.3. Direct Modelling
- 5.3.1. Direct Modelling Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Agent-based Modelling
- 5.4.1. Agent-based Modelling Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Synthetic Data Generation Market: Offering Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Synthetic Data Generation Market: Offering Band Movement Analysis, USD Million, 2023 & 2030
- 6.2.1. Fully Synthetic Data
- 6.2.1.1. Fully Synthetic Data Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.2. Partially Synthetic Data
- 6.2.2.1. Partially Synthetic Data Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.3. Hybrid Synthetic Data
- 6.2.3.1. Hybrid Synthetic Data Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Synthetic Data Generation Market: Application Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Synthetic Data Generation Market: Application Movement Analysis, USD Million, 2023 & 2030
- 7.2.1. Data Protection
- 7.2.1.1. Data Protection Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.2. Data Sharing
- 7.2.2.1. Data Sharing Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.3. Predictive Analytics
- 7.2.3.1. Predictive Analytics Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.4. Natural Language Processing
- 7.2.4.1. Natural Language Processing Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.5. Computer Vision Algorithms
- 7.2.5.1. Computer Vision Algorithms Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.6. Others
- 7.2.6.1. Other Applications Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Synthetic Data Generation Market: End Use Estimates & Trend Analysis
- 8.1. Segment Dashboard
- 8.2. Synthetic Data Generation Market: End Use Movement Analysis, USD Million, 2023 & 2030
- 8.2.1. BFSI
- 8.2.1.1. BFSI Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.2.2. Healthcare & Life Sciences
- 8.2.2.1. Healthcare & Life Sciences Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.2.3. Transportation & Logistics
- 8.2.3.1. Transportation & Logistics Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.2.4. IT & Telecommunication
- 8.2.4.1. IT & Telecommunication Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.2.5. Retail and E-commerce
- 8.2.5.1. Retail and E-commerce Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.2.6. Manufacturing
- 8.2.6.1. Manufacturing Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.2.7. Consumer Electronics
- 8.2.7.1. Consumer Electronics Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.2.8. Others
- 8.2.8.1. Other End Use Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 9. Synthetic Data Generation Market: Regional Estimates & Trend Analysis
- 9.1. Synthetic Data Generation Market Share, By Region, 2023 & 2030, USD Million
- 9.2. North America
- 9.2.1. North America Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.2.2. U.S.
- 9.2.2.1. U.S. Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.2.3. Canada
- 9.2.3.1. Canada Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.2.4. Mexico
- 9.2.4.1. Mexico Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.3. Europe
- 9.3.1. Europe Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.3.2. UK
- 9.3.2.1. UK Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.3.3. Germany
- 9.3.3.1. Germany Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.3.4. France
- 9.3.4.1. France Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.4. Asia Pacific
- 9.4.1. Asia Pacific Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.4.2. Japan
- 9.4.2.1. Japan Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.4.3. China
- 9.4.3.1. China Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.4.4. India
- 9.4.4.1. India Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.4.5. Australia
- 9.4.5.1. Australia Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.4.6. South Korea
- 9.4.6.1. South Korea Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.5. Latin America
- 9.5.1. Latin America Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.5.2. Brazil
- 9.5.2.1. Brazil Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.6. Middle East and Africa
- 9.6.1. Middle East and Africa Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.6.2. South Africa
- 9.6.2.1. South Africa Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.6.3. UAE
- 9.6.3.1. UAE Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.6.4. Saudi Arabia
- 9.6.4.1. Saudi Arabia Synthetic Data Generation Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 10. Competitive Landscape
- 10.1. Recent Developments & Impact Analysis by Key Market Participants
- 10.2. Company Categorization
- 10.3. Company Heat Map Analysis
- 10.4. Company Profiles
- 10.4.1. MOSTLY AI
- 10.4.1.1. Participant's Overview
- 10.4.1.2. Financial Performance
- 10.4.1.3. Product Benchmarking
- 10.4.1.4. Recent Developments/ Strategic Initiatives
- 10.4.2. Synthesis AI
- 10.4.2.1. Participant's Overview
- 10.4.2.2. Financial Performance
- 10.4.2.3. Product Benchmarking
- 10.4.2.4. Recent Developments/ Strategic Initiatives
- 10.4.3. Statice
- 10.4.3.1. Participant's Overview
- 10.4.3.2. Financial Performance
- 10.4.3.3. Product Benchmarking
- 10.4.3.4. Recent Developments/ Strategic Initiatives
- 10.4.4. YData
- 10.4.4.1. Participant's Overview
- 10.4.4.2. Financial Performance
- 10.4.4.3. Product Benchmarking
- 10.4.4.4. Recent Developments/ Strategic Initiatives
- 10.4.5. Ekobit d.o.o. (Span)
- 10.4.5.1. Participant's Overview
- 10.4.5.2. Financial Performance
- 10.4.5.3. Product Benchmarking
- 10.4.5.4. Recent Developments/ Strategic Initiatives
- 10.4.6. Hazy Limited
- 10.4.6.1. Participant's Overview
- 10.4.6.2. Financial Performance
- 10.4.6.3. Product Benchmarking
- 10.4.6.4. Recent Developments/ Strategic Initiatives
- 10.4.7. SAEC / Kinetic Vision, Inc.
- 10.4.7.1. Participant's Overview
- 10.4.7.2. Financial Performance
- 10.4.7.3. Product Benchmarking
- 10.4.7.4. Recent Developments/ Strategic Initiatives
- 10.4.8. kymeralabs
- 10.4.8.1. Participant's Overview
- 10.4.8.2. Financial Performance
- 10.4.8.3. Product Benchmarking
- 10.4.8.4. Recent Developments/ Strategic Initiatives
- 10.4.9. MDClone
- 10.4.9.1. Participant's Overview
- 10.4.9.2. Financial Performance
- 10.4.9.3. Product Benchmarking
- 10.4.9.4. Recent Developments/ Strategic Initiatives
- 10.4.10. Neuromation
- 10.4.10.1. Participant's Overview
- 10.4.10.2. Financial Performance
- 10.4.10.3. Product Benchmarking
- 10.4.10.4. Recent Developments/ Strategic Initiatives
- 10.4.11. Twenty Million Neurons GmbH (Qualcomm Technologies, Inc.)
- 10.4.11.1. Participant's Overview
- 10.4.11.2. Financial Performance
- 10.4.11.3. Product Benchmarking
- 10.4.11.4. Recent Developments/ Strategic Initiatives
- 10.4.12. Anyverse SL
- 10.4.12.1. Participant's Overview
- 10.4.12.2. Financial Performance
- 10.4.12.3. Product Benchmarking
- 10.4.12.4. Recent Developments/ Strategic Initiatives
- 10.4.13. Informatica Inc.
- 10.4.13.1. Participant's Overview
- 10.4.13.2. Financial Performance
- 10.4.13.3. Product Benchmarking
- 10.4.13.4. Recent Developments/ Strategic Initiatives