The overall data market will get to 111 billion in 2020 - first results of the European Data Market study have been released
First interim report of European Data Market study prepared by IDC & Open Evidence is ready and you can download it here.
“Digital innovation, driven by the combination of Big Data, Cloud Computing, Mobile Technologies and Social Media, is one of the most powerful drivers of change and the best opportunity for Europe to move back to a growth path. The indicators measured by the European Data Market monitoring tool reveal that the European Data Economy is already a reality, but that additional efforts are to be undertaken to consolidate this process over the next few years.
The total number of data workers, for example, is estimated at 6,1 million in the EU28 and could almost double by the year 2020 if high-growth in ensured. Similarly, the number of organizations producing and supplying data-related products and services could reach almost 350,000 in 2020, from 257,000 in 2014, and data users could be more than 1.3 million in 2020.
The overall data market (i.e.: the aggregate value of data-related products and services exchanged within the European economy) is estimated at already more than 50 billion Euro and will get to 111 billion in 2020 under high-growth conditions. The assessment of the overall economic impacts produced by the adoption of data-driven innovation in the EU (i.e.: “Data economy”) is estimated at about 255 billion Euro in 2014, representing a contribution to the EU GDP of approximately 1,8% - a value that could rise to 4,7% in 2020 if high-growth is confirmed in Europe”.
Giorgio Michelleti, IDC
Stayed tuned for more insights on big data market in Europe.