Synthetic Data Generation Market Size, Share, Emerging Trends, Growth Factors
The global Synthetic Data Generation Market size 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 , according to a new report by MarketsandMarkets™. The growth of the synthetic data generation market can be attributed to several factors, including increasing concerns about data privacy and security. Also, the cost-effectiveness and time efficiency of generating synthetic data compared to collecting and labeling real-world data will drive the market's growth.
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