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Anylogic7/23/2023 These vendors have adopted many organic and inorganic growth strategies, such as new product launches, partnerships, and collaborations, to expand their offerings and market shares in the synthetic data generation market. Key and innovative vendors in synthetic data generation include Microsoft (US), Google (US), IBM (US), AWS (US), NVIDIA (US), OpenAI (US), Informatica (US), Broadcom (US), Sogeti (France), Mphasis (India), Databricks (US), MOSTLY AI (Austria), Tonic (US), MDClone (Israel) TCS (India), Hazy (UK), Synthesia (UK), Synthesized (UK), Facteus (US), Anyverse (Spain), Neurolabs (Scotland), Rendered.ai (US), Gretel (US), OneView (Israel), GenRocket (US), YData (US), CVEDIA (UK), Syntheticus (Switzerland), AnyLogic (US), Bifrost AI (US), Anonos (US). This research study outlines the market potential, dynamics, and major vendors operating in the synthetic data generation market. **Rest of World (RoW) includes MEA and Latin America. *Others include sales managers, marketing managers, and product managers. Note: Tier 1 companies have revenues over USD 10 billion tier 2 companies’ revenue ranges between USD 1 and 10 billion of the overall revenues and tier 3 companies’ revenue ranges between USD 500 million and USD 1 billion. By Region: North America – 40%, Europe – 20%, APAC – 30%, and Middle East and Africa-5%, Latin America-5%.By Designation: C-Level Executives – 35%, Directors– 40%, Others*–25%.The breakup of the profiles of the primary participants is given below: With the region’s focus on digitalization and the emerging need for data-driven solutions, Asia Pacific’s synthetic data generation market is poised for continued expansion and opportunities. The synthetic data generation market in Asia is experiencing significant growth driven by rapid digital transformation, increasing data privacy regulations, growing adoption of AI and ML technologies, rising cybersecurity concerns, and a thriving startup ecosystem.Organizations in the region are leveraging synthetic data generation to address data-driven challenges, comply with regulations, enhance AI and ML model performance, strengthen cybersecurity measures, and drive innovation. Under the applications segment, the Test data management segment is expected to have second the highest market share during the forecast period.The need for high-quality, diverse, and representative data for testing and validation purposes will drive the segment.īusinesses can enhance the effectiveness and efficiency of their testing processes using synthetic data leading to improved product quality, faster time-to-market, and reduced costs associated with traditional test data management approaches.Īmong regions, Asia Pacific to grow at the highest CAGR during the forecast period" The increasing demand for artificial intelligence (AI) and machine learning (ML) applications requires large amounts of data to train and develop models, further driving the text data segment.Īmong applications, Test data management segment has the second-highest market share during the forecast period. By data type, text data to segment to record a highest growth rate during the forecast periodīy data type, the text data segment is expected to have the highest growth rate during the forecast period.Increasing investments in AI lead to new and more sophisticated synthetic data generation techniques driving the synthetic data generation market. New York, J(GLOBE NEWSWIRE) - announces the release of the report "Synthetic Data Generation Market by Offering, Data Type, Application, Vertical and Region - Global Forecast to 2028". The rising importance of data privacy and compliance regulations, such as GDPR and CCPA, drive organizations’ need to handle personal data. The global synthetic data generation size is expected to grow from USD 0.3 billion in 2023 to USD 2.1 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 45.7% during the forecast period.
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