Synthetic Data Generation Market Size To Grow USD 3.5 Billion by 2031 at a CAGR of 35.8% | Valuates Reports
The global synthetic data generation market was valued at USD 168.9 Million in 2021, and is projected to reach USD 3.5 Billion by 2031, growing at a CAGR of 35.8% from 2022 to 2031.
- The global synthetic data generation market was valued at USD 168.9 Million in 2021, and is projected to reach USD 3.5 Billion by 2031, growing at a CAGR of 35.8% from 2022 to 2031.
- TRENDS INFLUENCING THE GROWTH OF SYNTHETIC DATA GENERATION MARKET:
Stricter laws like GDPR and HIPAA have been created in response to the growing demand for data privacy and security. - A solution is provided by synthetic data, which generates plausible but artificial data while preserving the statistical characteristics of genuine data and protecting sensitive information.
- Companies can replicate a variety of situations using synthetic data without being constrained by the limits of real-world data collecting.