The Study measured six main areas of the European data economy (data workers, data companies, data market, data economy, data workers’ skills , and citizens’ dependency on data) for the period 2013-2016. It also made projections in all six areas for 2020 according to three alternative development paths: a Baseline scenario, a High-Growth scenario and a Challenge scenario.
The findings of the European Data Market Study are the following:
- The value of the EU data market was estimated at almost EUR 60 Billion in 2016. The EU data market in 2020 could amount to more than EUR 106 Billion if the assumptions underpinning the High-Growth scenario were to come true.
- The total number of data companies in the EU neared the threshold of 255,000 units in 2016. The same number would reach 360,000 units in 2020 under the High-Growth scenario.
- The EU data market employed 6.1 million data workers in 2016 which could rise to 10.4 million in 2020 according to the High-Growth Scenario.
- Finally, the data economy represented almost 2% of the EU GDP in 2016 and could reach 4% by 2020.
The project is carried out by IDC and Open Evidence.