The Global Synthetic Data Generation Market is Predict to reach $880.2 Million by 2028, at a CAGR of 34.1%

Published Date: 24-Nov-2022

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Synthetic Data Generation Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Synthetic Data Generation Market size is expected to reach $880.2 Million by 2028, rising at a market growth of 34.1% CAGR during the forecast period.

The Predictive Analytics segment is showcasing a CAGR of 34.6% during (2022 - 2028). Predictive analytics has developed as a viable application field, fueled by robust demand from the BFSI industry. Banks and financial industries are likely to utilize synthetic data for fraud detection via predictive analytics. In 2020, for instance, American Express announced testing technologies to assist in the creation of false videos to counter financial fraud.

The Fully Synthetic Data segment acquired maximum revenue share in the Global Synthetic Data Generation Market by Offering in 2021 thereby, achieving a market value of $4.7 billion by 2028. The rapidly rising growth of this segment is mostly attributed to privacy protection and greater utility, as comprehensive and partially synthetic data offer benefits. Fully synthetic data offers higher privacy as a result of the complete elimination of any type of real data.

The Image & Video Data segment has shown the growth rate of 33.8% during (2022 - 2028). The growth of the segment is increasing due to the growing demand for database expansion. In addition, the usage of artificial media as a drop-in substitute for the original data has become prevalent in both developing as well as developed countries. Synthetic graphics and movies have gained immense popularity in the automotive industry.

The Agent-based Modeling segment is leading the Global Synthetic Data Generation Market by Modeling Type in 2021 thereby, achieving a market value of $5.4 billion by 2028. ABM has gained popularity for its ability to create a physical model of real-world data and reproduce data using the same model. In recent years, agent-based modeling has surpassed traditional models in the financial sector.

The Healthcare & Life sciences segment is showcasing a CAGR of 31.8% during (2022 - 2028). The healthcare and life sciences industry is anticipated to exhibit robust demand for synthetic data that protects privacy. Patient privacy, legal frameworks, distinct data sources, as well as artificial data-generating techniques have acquired substantial pace amidst threats of the data leak.

The North America market dominated the Global Synthetic Data Generation Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3.4 billion by 2028. The Europe market is exhibiting a CAGR of 33.2% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 35.3% during (2022 - 2028).

Full Report: https://www.kbvresearch.com/synthetic-data-generation-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Kinetic Vision, Inc. (Deep Vision Data), MOSTLY AI Solutions MP GmbH, Synthesis AI, Inc., Statice GmbH, YData, Ekobit d.o.o, Hazy Limited, Kymera-labs, MDClone Limited, and Neuromation.

Global Synthetic Data Generation Market Segmentation

By Application

  • Natural Language Processing
  • Data Protection
  • Predictive Analytics
  • Computer Vision Algorithms
  • Data Sharing & Others

By Offering

  • Fully Synthetic Data
  • Partially Synthetic Data
  • Hybrid Synthetic Data

By Data Type

  • Tabular Data
  • Text Data
  • Image & Video Data
  • Others

By Modeling Type

  • Agent-based Modeling
  • Direct Modeling

By End-use

  • Healthcare & Life sciences
  • IT & Telecommunication
  • Transportation & Logistics
  • Retail & E-commerce
  • BFSI
  • Consumer Electronics
  • Manufacturing & Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • Kinetic Vision, Inc. (Deep Vision Data)
  • MOSTLY AI Solutions MP GmbH
  • Synthesis AI, Inc.
  • Statice GmbH
  • YData
  • Ekobit d.o.o
  • Hazy Limited
  • Kymera-labs
  • MDClone Limited
  • Neuromation

Unique Offerings from KBV Research

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  • The highest number of market tables and figures
  • Subscription-based model available
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  • Assured post sales research support with 10% customization free

Related Reports:

North America Synthetic Data Generation Market Future Scope & Opportunities 2022-2028

Europe Synthetic Data Generation Market Size & Growth Forecast 2022-2028

Asia Pacific Synthetic Data Generation Market Size, Share & Industry Outlook to 2028

LAMEA Synthetic Data Generation Market Growth, Trends & Forecasts 2022-2028

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