Synthetic Data Generation Market
The global synthetic data generation market was valued at USD 168.9 Million in 2021, and is projected to reach USD 3.5 Billion by 2031, growing at a CAGR of 35.8% from 2022 to 2031.
Synthetic Data Generation Market Trends
The management of sensitive data presents substantial issues for organizations due to the increasingly strict data protection requirements, such as GDPR and CCPA. Businesses can do data analytics and testing using synthetic data as a privacy-compliant option without jeopardizing the rights of individuals to their privacy. Due to privacy issues and data silos, several industries, including healthcare and finance, suffer from a lack of access to real-world data. By producing fake datasets with the statistical characteristics of actual data, synthetic data production closes this gap and enables businesses to conduct insightful analyses.
Large and diverse datasets are required for model training due to the quick development of AI and machine learning. In order to enhance the training of these models with different, labeled datasets that increase accuracy and resilience, synthetic data offers a scalable option. Large, genuine databases may be expensive and time-consuming to gather and manage. By eliminating the need for substantial data-gathering activities while retaining data quality and variety, synthetic data creation offers a cost-effective option.
Real-world data may not be sufficiently varied in certain fields to cover every eventuality. Synthetic data production may provide diversity to datasets, making machine learning models more capable of avoiding bias and more suited for a variety of circumstances. Organizations can exchange datasets with outside collaborators or researchers using synthetic data while safeguarding the privacy of critical information. Without disclosing confidential or private information, this promotes cooperation and creativity.
For evaluating algorithms and applications, synthetic data is crucial. Before deploying their systems in actual-world situations, it enables organizations to simulate numerous scenarios, test the resilience of their systems, and discover any possible flaws. More companies are implementing this technology as the advantages of synthetic data production become more widely known. As a result of the market's increased innovation and competitiveness, synthetic data-generating methods and tools are continuing to progress.
Synthetic Data Generation Market Share
The United States in particular has been a prominent centre for the production of synthetic data in North America. The development of the market in this area has been facilitated by the presence of a strong technological ecosystem, a high demand for data-driven solutions across sectors including healthcare, finance, and autonomous cars, as well as a generally accommodative regulatory framework.
Scope of Global Synthetic Data Generation Market Report
| Report Metric |
Details |
| Report Name |
Global Synthetic Data Generation Market |
| Base Year |
2021 |
| Forecasted years |
2022-2031 |
| By Company |
- Datagen
- Meta
- Synthesis AI
- Mostly AI
- NVIDIA Corporation
- IBM Corporation
- Microsoft Corporation
- com, Inc
- CVEDIA Inc
- Gretel Labs
|
| Segment by Component |
|
| Segment by Deployment Mode |
|
| Segment by Data Type |
- Tabular Data
- Text Data
- Image and Video Data
|
| Segment by Application |
- AI Training and Development
- Test Data Management
- Data Sharing and Retention
- Data Analytics
|
| Segment by Industry Vertical |
- BFSI
- Healthcare and Life Sciences
- Transportation and Logistics
- Government and Defense
- IT and Telecommunication
- Manufacturing
- Media and Entertainment
|
| Consumption by Region |
- North America (United States, Canada)
- Europe (Germany, France, UK, Italy, Russia)
- Asia-Pacific (China, Japan, South Korea, Taiwan)
- Southeast Asia (India)
- Latin America (Mexico, Brazil)
|
| Forecast units |
USD million in value |
| Report coverage |
Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
CHAPTER 1:INTRODUCTION
- 1.1.Report description
- 1.2.Key market segments
- 1.3.Key benefits to the stakeholders
- 1.4.Research Methodology
- 1.4.1.Secondary research
- 1.4.2.Primary research
- 1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
- 2.1.Key findings of the study
- 2.2.CXO Perspective
CHAPTER 3:MARKET OVERVIEW
- 3.1.Market definition and scope
- 3.2.Key findings
- 3.2.1.Top investment pockets
- 3.3.Porter’s five forces analysis
- 3.4.Market dynamics
- 3.4.1.Drivers
- 3.4.1.1. Increasing adoption of advanced technologies such as Artificial intelligence (AI) and machine learning (ML).
- 3.4.1.2. Enabling the development of Automotive sector and driver safety systems.
- 3.4.2.Restraints
- 3.4.2.1. Lack of skilled workforce and reliability issue can hamper the market growth
- 3.4.3.Opportunities
- 3.4.3.1. Rapid changes in business model technology due to geographical expansion
- 3.5.COVID-19 Impact Analysis on the market
CHAPTER 4: SYNTHETIC DATA GENERATION MARKET, BY COMPONENT
- 4.1 Overview
- 4.1.1 Market size and forecast
- 4.2. Solution
- 4.2.1 Key market trends, growth factors and opportunities
- 4.2.2 Market size and forecast, by region
- 4.2.3 Market share analysis by country
- 4.3. Services
- 4.3.1 Key market trends, growth factors and opportunities
- 4.3.2 Market size and forecast, by region
- 4.3.3 Market share analysis by country
CHAPTER 5: SYNTHETIC DATA GENERATION MARKET, BY DEPLOYMENT MODE
- 5.1 Overview
- 5.1.1 Market size and forecast
- 5.2. On-Premise
- 5.2.1 Key market trends, growth factors and opportunities
- 5.2.2 Market size and forecast, by region
- 5.2.3 Market share analysis by country
- 5.3. Cloud
- 5.3.1 Key market trends, growth factors and opportunities
- 5.3.2 Market size and forecast, by region
- 5.3.3 Market share analysis by country
CHAPTER 6: SYNTHETIC DATA GENERATION MARKET, BY DATA TYPE
- 6.1 Overview
- 6.1.1 Market size and forecast
- 6.2. Tabular Data
- 6.2.1 Key market trends, growth factors and opportunities
- 6.2.2 Market size and forecast, by region
- 6.2.3 Market share analysis by country
- 6.3. Text Data
- 6.3.1 Key market trends, growth factors and opportunities
- 6.3.2 Market size and forecast, by region
- 6.3.3 Market share analysis by country
- 6.4. Image and Video Data
- 6.4.1 Key market trends, growth factors and opportunities
- 6.4.2 Market size and forecast, by region
- 6.4.3 Market share analysis by country
- 6.5. Others
- 6.5.1 Key market trends, growth factors and opportunities
- 6.5.2 Market size and forecast, by region
- 6.5.3 Market share analysis by country
CHAPTER 7: SYNTHETIC DATA GENERATION MARKET, BY APPLICATION
- 7.1 Overview
- 7.1.1 Market size and forecast
- 7.2. AI Training and Development
- 7.2.1 Key market trends, growth factors and opportunities
- 7.2.2 Market size and forecast, by region
- 7.2.3 Market share analysis by country
- 7.3. Test Data Management
- 7.3.1 Key market trends, growth factors and opportunities
- 7.3.2 Market size and forecast, by region
- 7.3.3 Market share analysis by country
- 7.4. Data Sharing and Retention
- 7.4.1 Key market trends, growth factors and opportunities
- 7.4.2 Market size and forecast, by region
- 7.4.3 Market share analysis by country
- 7.5. Data Analytics
- 7.5.1 Key market trends, growth factors and opportunities
- 7.5.2 Market size and forecast, by region
- 7.5.3 Market share analysis by country
- 7.6. Others
- 7.6.1 Key market trends, growth factors and opportunities
- 7.6.2 Market size and forecast, by region
- 7.6.3 Market share analysis by country
CHAPTER 8: SYNTHETIC DATA GENERATION MARKET, BY INDUSTRY VERTICAL
- 8.1 Overview
- 8.1.1 Market size and forecast
- 8.2. BFSI
- 8.2.1 Key market trends, growth factors and opportunities
- 8.2.2 Market size and forecast, by region
- 8.2.3 Market share analysis by country
- 8.3. Healthcare and Life Sciences
- 8.3.1 Key market trends, growth factors and opportunities
- 8.3.2 Market size and forecast, by region
- 8.3.3 Market share analysis by country
- 8.4. Transportation and Logistics
- 8.4.1 Key market trends, growth factors and opportunities
- 8.4.2 Market size and forecast, by region
- 8.4.3 Market share analysis by country
- 8.5. Government and Defense
- 8.5.1 Key market trends, growth factors and opportunities
- 8.5.2 Market size and forecast, by region
- 8.5.3 Market share analysis by country
- 8.6. IT and Telecommunication
- 8.6.1 Key market trends, growth factors and opportunities
- 8.6.2 Market size and forecast, by region
- 8.6.3 Market share analysis by country
- 8.7. Manufacturing
- 8.7.1 Key market trends, growth factors and opportunities
- 8.7.2 Market size and forecast, by region
- 8.7.3 Market share analysis by country
- 8.8. Media and Entertainment
- 8.8.1 Key market trends, growth factors and opportunities
- 8.8.2 Market size and forecast, by region
- 8.8.3 Market share analysis by country
- 8.9. Others
- 8.9.1 Key market trends, growth factors and opportunities
- 8.9.2 Market size and forecast, by region
- 8.9.3 Market share analysis by country
CHAPTER 9: SYNTHETIC DATA GENERATION MARKET, BY REGION
- 9.1 Overview
- 9.1.1 Market size and forecast
- 9.2 North America
- 9.2.1 Key trends and opportunities
- 9.2.2 North America Market size and forecast, by Component
- 9.2.3 North America Market size and forecast, by Deployment Mode
- 9.2.4 North America Market size and forecast, by Data Type
- 9.2.5 North America Market size and forecast, by Application
- 9.2.6 North America Market size and forecast, by Industry Vertical
- 9.2.7 North America Market size and forecast, by country
- 9.2.7.1 U.S.
- 9.2.7.1.1 Key market trends, growth factors and opportunities
- 9.2.7.1.2 Market size and forecast, by Component
- 9.2.7.1.3 Market size and forecast, by Deployment Mode
- 9.2.7.1.4 Market size and forecast, by Data Type
- 9.2.7.1.5 Market size and forecast, by Application
- 9.2.7.1.6 Market size and forecast, by Industry Vertical
- 9.2.7.2 Canada
- 9.2.7.2.1 Key market trends, growth factors and opportunities
- 9.2.7.2.2 Market size and forecast, by Component
- 9.2.7.2.3 Market size and forecast, by Deployment Mode
- 9.2.7.2.4 Market size and forecast, by Data Type
- 9.2.7.2.5 Market size and forecast, by Application
- 9.2.7.2.6 Market size and forecast, by Industry Vertical
- 9.3 Europe
- 9.3.1 Key trends and opportunities
- 9.3.2 Europe Market size and forecast, by Component
- 9.3.3 Europe Market size and forecast, by Deployment Mode
- 9.3.4 Europe Market size and forecast, by Data Type
- 9.3.5 Europe Market size and forecast, by Application
- 9.3.6 Europe Market size and forecast, by Industry Vertical
- 9.3.7 Europe Market size and forecast, by country
- 9.3.7.1 UK
- 9.3.7.1.1 Key market trends, growth factors and opportunities
- 9.3.7.1.2 Market size and forecast, by Component
- 9.3.7.1.3 Market size and forecast, by Deployment Mode
- 9.3.7.1.4 Market size and forecast, by Data Type
- 9.3.7.1.5 Market size and forecast, by Application
- 9.3.7.1.6 Market size and forecast, by Industry Vertical
- 9.3.7.2 Germany
- 9.3.7.2.1 Key market trends, growth factors and opportunities
- 9.3.7.2.2 Market size and forecast, by Component
- 9.3.7.2.3 Market size and forecast, by Deployment Mode
- 9.3.7.2.4 Market size and forecast, by Data Type
- 9.3.7.2.5 Market size and forecast, by Application
- 9.3.7.2.6 Market size and forecast, by Industry Vertical
- 9.3.7.3 France
- 9.3.7.3.1 Key market trends, growth factors and opportunities
- 9.3.7.3.2 Market size and forecast, by Component
- 9.3.7.3.3 Market size and forecast, by Deployment Mode
- 9.3.7.3.4 Market size and forecast, by Data Type
- 9.3.7.3.5 Market size and forecast, by Application
- 9.3.7.3.6 Market size and forecast, by Industry Vertical
- 9.3.7.4 Italy
- 9.3.7.4.1 Key market trends, growth factors and opportunities
- 9.3.7.4.2 Market size and forecast, by Component
- 9.3.7.4.3 Market size and forecast, by Deployment Mode
- 9.3.7.4.4 Market size and forecast, by Data Type
- 9.3.7.4.5 Market size and forecast, by Application
- 9.3.7.4.6 Market size and forecast, by Industry Vertical
- 9.3.7.5 Spain
- 9.3.7.5.1 Key market trends, growth factors and opportunities
- 9.3.7.5.2 Market size and forecast, by Component
- 9.3.7.5.3 Market size and forecast, by Deployment Mode
- 9.3.7.5.4 Market size and forecast, by Data Type
- 9.3.7.5.5 Market size and forecast, by Application
- 9.3.7.5.6 Market size and forecast, by Industry Vertical
- 9.3.7.6 Rest of Europe
- 9.3.7.6.1 Key market trends, growth factors and opportunities
- 9.3.7.6.2 Market size and forecast, by Component
- 9.3.7.6.3 Market size and forecast, by Deployment Mode
- 9.3.7.6.4 Market size and forecast, by Data Type
- 9.3.7.6.5 Market size and forecast, by Application
- 9.3.7.6.6 Market size and forecast, by Industry Vertical
- 9.4 Asia-Pacific
- 9.4.1 Key trends and opportunities
- 9.4.2 Asia-Pacific Market size and forecast, by Component
- 9.4.3 Asia-Pacific Market size and forecast, by Deployment Mode
- 9.4.4 Asia-Pacific Market size and forecast, by Data Type
- 9.4.5 Asia-Pacific Market size and forecast, by Application
- 9.4.6 Asia-Pacific Market size and forecast, by Industry Vertical
- 9.4.7 Asia-Pacific Market size and forecast, by country
- 9.4.7.1 China
- 9.4.7.1.1 Key market trends, growth factors and opportunities
- 9.4.7.1.2 Market size and forecast, by Component
- 9.4.7.1.3 Market size and forecast, by Deployment Mode
- 9.4.7.1.4 Market size and forecast, by Data Type
- 9.4.7.1.5 Market size and forecast, by Application
- 9.4.7.1.6 Market size and forecast, by Industry Vertical
- 9.4.7.2 Japan
- 9.4.7.2.1 Key market trends, growth factors and opportunities
- 9.4.7.2.2 Market size and forecast, by Component
- 9.4.7.2.3 Market size and forecast, by Deployment Mode
- 9.4.7.2.4 Market size and forecast, by Data Type
- 9.4.7.2.5 Market size and forecast, by Application
- 9.4.7.2.6 Market size and forecast, by Industry Vertical
- 9.4.7.3 India
- 9.4.7.3.1 Key market trends, growth factors and opportunities
- 9.4.7.3.2 Market size and forecast, by Component
- 9.4.7.3.3 Market size and forecast, by Deployment Mode
- 9.4.7.3.4 Market size and forecast, by Data Type
- 9.4.7.3.5 Market size and forecast, by Application
- 9.4.7.3.6 Market size and forecast, by Industry Vertical
- 9.4.7.4 Australia
- 9.4.7.4.1 Key market trends, growth factors and opportunities
- 9.4.7.4.2 Market size and forecast, by Component
- 9.4.7.4.3 Market size and forecast, by Deployment Mode
- 9.4.7.4.4 Market size and forecast, by Data Type
- 9.4.7.4.5 Market size and forecast, by Application
- 9.4.7.4.6 Market size and forecast, by Industry Vertical
- 9.4.7.5 South Korea
- 9.4.7.5.1 Key market trends, growth factors and opportunities
- 9.4.7.5.2 Market size and forecast, by Component
- 9.4.7.5.3 Market size and forecast, by Deployment Mode
- 9.4.7.5.4 Market size and forecast, by Data Type
- 9.4.7.5.5 Market size and forecast, by Application
- 9.4.7.5.6 Market size and forecast, by Industry Vertical
- 9.4.7.6 Rest of Asia-Pacific
- 9.4.7.6.1 Key market trends, growth factors and opportunities
- 9.4.7.6.2 Market size and forecast, by Component
- 9.4.7.6.3 Market size and forecast, by Deployment Mode
- 9.4.7.6.4 Market size and forecast, by Data Type
- 9.4.7.6.5 Market size and forecast, by Application
- 9.4.7.6.6 Market size and forecast, by Industry Vertical
- 9.5 LAMEA
- 9.5.1 Key trends and opportunities
- 9.5.2 LAMEA Market size and forecast, by Component
- 9.5.3 LAMEA Market size and forecast, by Deployment Mode
- 9.5.4 LAMEA Market size and forecast, by Data Type
- 9.5.5 LAMEA Market size and forecast, by Application
- 9.5.6 LAMEA Market size and forecast, by Industry Vertical
- 9.5.7 LAMEA Market size and forecast, by country
- 9.5.7.1 Latin America
- 9.5.7.1.1 Key market trends, growth factors and opportunities
- 9.5.7.1.2 Market size and forecast, by Component
- 9.5.7.1.3 Market size and forecast, by Deployment Mode
- 9.5.7.1.4 Market size and forecast, by Data Type
- 9.5.7.1.5 Market size and forecast, by Application
- 9.5.7.1.6 Market size and forecast, by Industry Vertical
- 9.5.7.2 Middle East
- 9.5.7.2.1 Key market trends, growth factors and opportunities
- 9.5.7.2.2 Market size and forecast, by Component
- 9.5.7.2.3 Market size and forecast, by Deployment Mode
- 9.5.7.2.4 Market size and forecast, by Data Type
- 9.5.7.2.5 Market size and forecast, by Application
- 9.5.7.2.6 Market size and forecast, by Industry Vertical
- 9.5.7.3 Africa
- 9.5.7.3.1 Key market trends, growth factors and opportunities
- 9.5.7.3.2 Market size and forecast, by Component
- 9.5.7.3.3 Market size and forecast, by Deployment Mode
- 9.5.7.3.4 Market size and forecast, by Data Type
- 9.5.7.3.5 Market size and forecast, by Application
- 9.5.7.3.6 Market size and forecast, by Industry Vertical
CHAPTER 10: COMPETITIVE LANDSCAPE
- 10.1. Introduction
- 10.2. Top winning strategies
- 10.3. Product Mapping of Top 10 Player
- 10.4. Competitive Dashboard
- 10.5. Competitive Heatmap
- 10.6. Top player positioning, 2021
CHAPTER 11: COMPANY PROFILES
- 11.1 Gretel Labs
- 11.1.1 Company overview
- 11.1.2 Key Executives
- 11.1.3 Company snapshot
- 11.1.4 Operating business segments
- 11.1.5 Product portfolio
- 11.1.6 Business performance
- 11.1.7 Key strategic moves and developments
- 11.2 Microsoft Corporation
- 11.2.1 Company overview
- 11.2.2 Key Executives
- 11.2.3 Company snapshot
- 11.2.4 Operating business segments
- 11.2.5 Product portfolio
- 11.2.6 Business performance
- 11.2.7 Key strategic moves and developments
- 11.3 Meta
- 11.3.1 Company overview
- 11.3.2 Key Executives
- 11.3.3 Company snapshot
- 11.3.4 Operating business segments
- 11.3.5 Product portfolio
- 11.3.6 Business performance
- 11.3.7 Key strategic moves and developments
- 11.4 IBM Corporation
- 11.4.1 Company overview
- 11.4.2 Key Executives
- 11.4.3 Company snapshot
- 11.4.4 Operating business segments
- 11.4.5 Product portfolio
- 11.4.6 Business performance
- 11.4.7 Key strategic moves and developments
- 11.5 NVIDIA Corporation
- 11.5.1 Company overview
- 11.5.2 Key Executives
- 11.5.3 Company snapshot
- 11.5.4 Operating business segments
- 11.5.5 Product portfolio
- 11.5.6 Business performance
- 11.5.7 Key strategic moves and developments
- 11.6 Synthesis AI
- 11.6.1 Company overview
- 11.6.2 Key Executives
- 11.6.3 Company snapshot
- 11.6.4 Operating business segments
- 11.6.5 Product portfolio
- 11.6.6 Business performance
- 11.6.7 Key strategic moves and developments
- 11.7 CVEDIA Inc.
- 11.7.1 Company overview
- 11.7.2 Key Executives
- 11.7.3 Company snapshot
- 11.7.4 Operating business segments
- 11.7.5 Product portfolio
- 11.7.6 Business performance
- 11.7.7 Key strategic moves and developments
- 11.8 Datagen
- 11.8.1 Company overview
- 11.8.2 Key Executives
- 11.8.3 Company snapshot
- 11.8.4 Operating business segments
- 11.8.5 Product portfolio
- 11.8.6 Business performance
- 11.8.7 Key strategic moves and developments
- 11.9 Mostly AI
- 11.9.1 Company overview
- 11.9.2 Key Executives
- 11.9.3 Company snapshot
- 11.9.4 Operating business segments
- 11.9.5 Product portfolio
- 11.9.6 Business performance
- 11.9.7 Key strategic moves and developments
- 11.10 Amazon.com, Inc.
- 11.10.1 Company overview
- 11.10.2 Key Executives
- 11.10.3 Company snapshot
- 11.10.4 Operating business segments
- 11.10.5 Product portfolio
- 11.10.6 Business performance
- 11.10.7 Key strategic moves and developments
