Synthetic Data Generation Market Growth Holds Strong | At a CAGR of 34.8%

PRESS RELEASE
Published January 31, 2023

Global Synthetic Data Generation Market Size study & Forecast, by Data Type, by Modeling Type, by Application, by End User and Regional Analysis, 2022-2029, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Synthetic Data Generation market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Synthetic Data Generation market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region

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Global Synthetic Data Generation Market is valued at approximately USD 123.3 million in 2021 and is anticipated to grow with a healthy growth rate of more than 34.8 % over the forecast period 2022-2029. Synthetic data generation is a technique of creating artificial that is gaining high traction in place of real data to train AI models. Synthetic data is generated algorithmically and is used to train machine learning models, validate mathematical models, and act as a stand-in for test datasets of production or operational data. The growing need to maintain data security and privacy, coupled with the rising inclination toward synthetic data to train machine learning, anti-money laundering behaviours and payment data for fraud detection are the prominent factors for the market growth.

 

The rapid proliferation of Artificial Intelligence (AI) is fostering the adoption of the synthetic generation of data in the global market. According to Statista, the global artificial intelligence (AI) software market generated around USD 10.1 billion in terms of sales in 2018, and it is projected to reach about USD 126 billion by 2025. Likewise, in August 2020, the White House reported unveiled the total investment of USD 1 billion in artificial intelligence and quantum computing. Thereby, the high usage of data is influencing the demand for connected devices and IoT, which, in turn, propels the demand for synthetic data to create on-demand data. Moreover, the growing investment in advanced technologies, as well as increasing initiatives by key market players are presenting various opportunities over the forecasting years. However, the rising acceptance of data accuracy is hindering the market growth throughout the forecast period of 2022-2029.

 

The key regions considered for the Global Synthetic Data Generation Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the growing focus on increased inclination toward fraud detection and the rising presence of the leading industry players such as American Express, Google’s Waymo J.P. Morgan, and Amazon. Whereas, the Asia Pacific is expected to grow at the highest growth rate over the forecasting period. Factors such as rising acceptance of emerging technologies, as well as the exponential growth of various end-use industries, are burgeoning the market growth in the forecasting years.

 

Major market players included in this report are:

  • Mostly AI
  • Synthesis AI
  • Statice
  • YData
  • Ekobit d.o.o.
  • Hazy
  • Kinetic Vision, Inc.
  • Kymera-labs
  • MDClone
  • Neuromation

 

Recent Developments in the Market:

 

In April 2022, Synthesis AI publicized that the company raised USD 17 million in Series A to make synthetic data for computer vision AI, carrying the total funding to above USD 24 million.

In October 2021, Facebook announced the acquisition of AI. Reverie- a leading synthetic data platform, which aims on helping businesses to improve and scale their machine learning algorithms by creating synthetic data.

Global Synthetic Data Generation Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

 

Segments Covered: Data Type, Modeling Type, Application, End User, Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

 

By Data Type:

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

 

By Modeling Type:

  • Direct Modeling
  • Agent-based Modeling

 

By Application:

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

 

By End User:

 

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

Our market research provides vital intelligence on market size, business trends, industry structure, market share, and market forecasts that are essential to developing business plans and strategy.

A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021

covid-19 scenario Market Behavior/ Level of Risk and Opportunity End Industry Behavior/ Opportunity Assessment Expected Industry Recovery Timeline Business Impact Horizon
Opening of Economy by Q3 2020 xx xx xx xx
Recovery – Opening of Economy extended till Q4 2020 / Q1 2021 xx xx xx xx

Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.

Study Explore :

  • Market Behavior/ Level of Risk and Opportunity
  • End Industry Behavior/ Opportunity Assessment
  • Expected Industry Recovery Timeline

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Each study, more than 100+ pages, is packed with tables, charts and insightful narrative including coverage on: Report Ocean provides complete tailor-made market reports that deliver vital market information on industry. Our market reports include:

  • Market Sizing and Structuring
  • Micro and macro analysis
  • Regional dynamics and Operational landscape
  • Demographic profiling and Addressable market
  • Legal Set-up and Regulatory frameworks
  • Profitability and Cost analysis
  • Segmentation analysis of Market
  • Existing marketing strategies in the market, Best practice, GAP analysis
  • Competitive landscape, Leading market players, Benchmarking
  • Future market trends and opportunities – Scenario modeling

 

Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.

 

Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam

In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.

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Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis Our team will be able to provide clear answers, identify key opportunities, new investments, and recommend high quality strategy routes in the market. These answers will include a holistic analysis of the:

  • Existing market infrastructures
  • Market challenges and opportunities
  • Potential for growth in certain industries in the coming years
  • End-consumer target groups and their potential volumes of operation
  • Best regions and segments to target
  • Pros and cons of various promotion models
  • Touch points and an opportunity breakdown within the value chain
  • Market size and growth rate during forecast period.
  • Key factors driving the Market.
  • Key market trends cracking up the growth of the Market.
  • Challenges to market growth.
  • Key vendors of Market.
  • Detailed SWOT analysis.
  • Opportunities and threats faces by the existing vendors in Global Market.
  • Trending factors influencing the market in the geographical regions.
  • Strategic initiatives focusing the leading vendors.
  • PEST analysis of the market in the five major regions.

 

The Study Explore COVID 19 Outbreak Impact Analysis

 

  • What should be entry strategies, countermeasures to economic impact, and marketing channels?
  • What are market dynamics?
  • What are challenges and opportunities?
  • What is economic impact on market?
  • What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?

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Key Points Covered in Synthetic Data Generation Market Report:

Global Synthetic Data Generation Market Research Report
Section 1: Global Synthetic Data Generation  Industry Overview
Section 2: Global Economic Impact on Synthetic Data Generation  Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Synthetic Data Generation  Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Synthetic Data Generation  Market Forecast

……..and view more in complete table of Contents

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