North America Synthetic Data Generation Market Size & Outlook
North America synthetic data generation market, 2018-2030 (US$M)
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North America synthetic data generation market highlights
- The North America synthetic data generation market generated a revenue of USD 65.3 million in 2023.
- The market is expected to grow at a CAGR of 31.9% from 2024 to 2030.
- In terms of segment, healthcare was the largest revenue generating end-user in 2023.
- Retail & E-commerce is the most lucrative end-user segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 65.3 million |
| Market revenue in 2030 | USD 453.7 million |
| Growth rate | 31.9% (CAGR from 2023 to 2030) |
| Largest segment | Healthcare |
| Fastest growing segment | Retail & E-commerce |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | BFSI, IT & Telecommunication, Healthcare, Retail & E-commerce |
| Key market players worldwide | Ekobit, MOSTLY AI, Synthesis AI, Statice, YData, Hazy, Kymera Labs, MDClone, Neuromation.io, Twenty Billion Neurons, Datagen Technologies, Informatica Inc, Kinetic Vision |
Other key industry trends
- In terms of revenue, North America region accounted for 29.9% of the global synthetic data generation market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 608.5 million by 2030.
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Synthetic Data Generation Market Scope
Synthetic Data Generation Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America synthetic data generation market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to synthetic data generation market will help companies and investors design strategic landscapes.
Healthcare was the largest segment with a revenue share of 23.12% in 2023. Horizon Databook has segmented the North America synthetic data generation market based on bfsi, it & telecommunication, healthcare, retail & e-commerce covering the revenue growth of each sub-segment from 2018 to 2030.
North America dominated the market and generated over 35.2% of its share in the global revenues in 2022. U.S. and Canada have emerged as lucrative regions as end-use sectors have shown an increased inclination toward fraud detection, NLP, and image data. Several companies, including J.P. Morgan, American Express, Amazon, and Google’s Waymo, have upped investments in synthetic data.
Rapidly expanding footprint of computer vision will fare well in the North America synthetic data generation market. Manufacturing, geospatial imagery, and physical security have garnered pronounced traction over the forecast period. Datagen, with offices in New York and Tel Aviv, raised USD 50 million in Series B to foster synthetic data solution growth for computer vision teams.
Besides, the growing prominence of autonomous vehicles has provided an impetus to simulation data across the region. Prominent growth in synthetic data generation usage in healthcare, retail, BFSI and other industries to improve consumer experience are projected to offer productive growth opportunities for the synthetic data generation market in North America.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America synthetic data generation market , including forecasts for subscribers. This continent databook contains high-level insights into North America synthetic data generation market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America synthetic data generation market size, by country, 2018-2030 (US$M)
North America Synthetic Data Generation Market Outlook Share, 2023 & 2030 (US$M)
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