The Asia Pacific Synthetic Data Generation Market would witness market growth of 35.3% CAGR during the forecast period (2022-2028).
The artificial intelligence system is presented with a dataset of real data and trains to generate artificial data that retains the original dataset's general qualities. As a means of safeguarding patient privacy and enhancing clinical research, synthetic data has drawn considerable attention. Synthetic data allows for the creation of phony patient records and medical imaging that is really non-identifiable because the content does not pertain to a real person.
In a sense, synthetic data is a derivation of the original actual data, but no one synthetic data point can be associated with a single real data point. The generation of synthetic data held significant promise for enhancing clinical research, protecting patient privacy, and diversifying databases. Furthermore, the emergence of synthetic data has also developed an industry of companies aiming to monetize phony data and facilitate cross-border data sharing.
The adoption of artificial intelligence is increasing majorly throughout the region. More than one-third of China's AI market is covered by the finance, retail, and high-tech industries, where AI adoption is significant. In the tech industry, for instance, ByteDance and Alibaba, both household names in China, are renowned for their highly tailored AI-driven consumer applications. In fact, the majority of AI applications that have been extensively embraced in China to date have been in consumer-facing businesses, driven by the world's largest internet user base and the capacity to engage with customers in novel ways to boost revenue, customer loyalty, and market valuations.
The China market dominated the Asia Pacific Synthetic Data Generation Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $66,038 Thousands by 2028.The Japan market is estimated to grow a CAGR of 34.5% during (2022 - 2028). Additionally, The India market would exhibit a CAGR of 36.2% during (2022 - 2028).
Based on Application, the market is segmented into Natural Language Processing, Data Protection, Predictive Analytics, Computer Vision Algorithms and Data Sharing & Others. Based on Offering, the market is segmented into Fully Synthetic Data, Partially Synthetic Data and Hybrid Synthetic Data. Based on Data Type, the market is segmented into Tabular Data, Text Data, Image & Video Data and Others. Based on Modeling Type, the market is segmented into Agent-based Modeling and Direct Modeling. Based on End-use, the market is segmented into Healthcare & Life sciences, IT & Telecommunication, Transportation & Logistics, Retail & E-commerce, BFSI, Consumer Electronics and Manufacturing & Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Synthetic Data Generation Market is Projected to reach USD 880.2 Million by 2028, at a CAGR of 34.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Kinetic Vision, Inc. (Deep Vision Data), MOSTLY AI Solutions MP GmbH, Synthesis AI, Inc., Statice GmbH, YData, Ekobit d.o.o, Hazy Limited, Kymera-labs, MDClone Limited, and Neuromation.
By Application
By Offering
By Data Type
By Modeling Type
By End-use
By Country
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