Report ID: UCMIG45E2129
Report ID:
UCMIG45E2129 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global synthetic data generation market witnessed significant growth in 2021, accumulating a valuation of USD 123.3 million. This growth can be attributed to the increasing adoption of synthetic data across various industries, such as healthcare, finance, and retail, for applications such as training machine learning models, data privacy protection, and simulation studies. The demand for synthetic data is driven by factors such as the need to overcome data limitations, ensure data security and privacy, and accelerate innovation in data-driven industries.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Application Software by segment aggregation, the contribution of the Application Software in Software & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG45E2129