Global Synthetic Data Generation Market 2024-2028
The synthetic data generation market is forecasted to grow by USD 2884.4 mn during 2023-2028, accelerating at a CAGR of 60.02% during the forecast period. The report on the synthetic data generation market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising demand for privacy protection, increase in content creation, and rise in adoption of ai and ml technologies.
Technavio's synthetic data generation market is segmented as below:
By End-user
- Healthcare and life sciences
- Retail and e-commerce
- Transportation and logistics
- IT and telecommunication
- BFSI and others
By Type
- Agent-based modelling
- Direct modelling
By Geographical Landscape
- North America
- Europe
- APAC
- Middle East and Africa
- South America
This study identifies the increase in deployment of large language models as one of the prime reasons driving the synthetic data generation market growth during the next few years. Also, growing interest of organizations in commercializing synthetic images and robust advancements in ml and computing innovation will lead to sizable demand in the market.
The report on the synthetic data generation market covers the following areas:
- Synthetic data generation market sizing
- Synthetic data generation market forecast
- Synthetic data generation market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading synthetic data generation market vendors that include Alphabet Inc., Amazon.com Inc., AnyLogic North America LLC, Anyverse SL, DADoES Inc, Facteus Inc, GenRocket Inc., Gretel Labs Inc., Hazy Ltd., International Business Machines Corp., MDClone Ltd., Microsoft Corp., Neurolaboratories Ltd., NVIDIA Corp., OpenAI L.L.C., Synthesia Ltd., Synthesized Ltd, Syntheticus, Tata Consultancy Services Ltd., and YData. Also, the synthetic data generation market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.