Synthetic Data Generation Market worth $2.1 billion by 2028 - Exclusive Report by MarketsandMarkets™

Browse in-depth TOC on "Synthetic Data Generation Market" 
300 - Tables
50 - Figures
320 - Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=176419553

Scope of the Report

The global synthetic data generation market has various applications such as data democratization, AI/ML training and development, data anonymization, test data management, enterprise data sharing, data analytics and visualization, data monetization, and others. The major end-users of the Synthetic Data Generation market include BFSI, Healthcare & Life sciences, Retail & E-commerce, Automotive & Transportation, Government & Defense, IT and ITeS, Energy and Utilities, Manufacturing, and Other Verticals.

Stricter regulations, and limitations on the use of real-world data due to increasing concerns about data privacy and security have created a demand for synthetic data as a viable alternative. Synthetic data generation enables organizations to generate and utilize data without compromising sensitive information, addressing real-world data privacy and security challenges. Businesses are increasingly relying on data-driven decision-making to gain a competitive edge.

Among vertical, the BFSI segment is expected to dominate the market during the forecast period

Based on vertical, the BFSI segment of the synthetic data generation market is projected to hold a larger market size during the forecast period. The adoption of synthetic data generation drives the BFSI (Banking, Financial Services, and Insurance) vertical due to increasing concerns about data privacy and compliance regulations. Synthetic data provides a solution for generating realistic datasets without compromising sensitive information, allowing organizations in the BFSI sector to meet regulatory requirements. It enables improved risk management, fraud detection, model development, and customer analytics, facilitating more accurate predictions.

By data type, image and video segment to record the highest market share during the forecast period

Image and video data represent visual information in the form of images and videos. Synthetic data generation for image and video data involves creating artificial visual content that simulates real-world scenarios. This process is driven by the need for training computer vision models, object detection, image recognition, and video analysis. Synthetic image and video data enable organizations to generate diverse datasets that cover a wide range of scenarios, lighting conditions, and object variations. It supports the development and validation of algorithms for autonomous vehicles, surveillance systems, medical imaging, and virtual reality applications.

Asia Pacific to record the highest growth during the forecast period.

The synthetic data generation market in the Asia Pacific region 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. 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.

Synthetic Data Generation Market Dynamics

Driver:

Restraint:

Opportunities:

Challenges:

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=176419553

Market Players

Major vendors in the Synthetic Data Generation Market 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).

Recent Developments:

Synthetic Data Generation Market Advantages

Report Objectives

Browse Adjacent Markets: Artificial Intelligence (AI) Market Research Reports & Consulting

Related Reports:

Location Based Entertainment Market - Global Forecast to 2028

Cyber Security Market - Global Forecast to 2027

Video Conferencing Market - Global Forecast to 2027

Public Cloud Market - Global Forecast to 2027

Smart Cities Market - Global Forecast to 2027

About MarketsandMarkets™ 

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA: +1-888-600-6441 
Email: [email protected] 
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/synthetic-data-generation-market.asp 
Visit Our Website: https://www.marketsandmarkets.com/ 
Content Source: https://www.marketsandmarkets.com/PressReleases/synthetic-data-generation.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/synthetic-data-generation-market-worth-2-1-billion-by-2028---exclusive-report-by-marketsandmarkets-301842041.html