The European Data Market Study: Final Report is out!
IDC and Open Evidence have completed the third and final round of measurements of the European Data Market Monitoring Tool. Comprising six main areas of the data economy (data workers, data companies, data market, data economy and data workers’ skills and citizens’ dependency on data), the tool is currently being used by the European Commission to assess the progress of key data-centered policies undertaken at national and EU level. The measurements have been carried out for the period 2013-2016 and have been projected to the year 2020 according to three alternative development paths: a Baseline scenario, a High-Growth scenario and a Challenge scenario. These three scenarios have been regularly updated and they now incorporate the effects of Brexit on the EU data-driven economy as a whole. The findings of the European Data Market Study are the following:
- In 2016, the value of the EU data market (i.e. the marketplace where data-related products or services are exchanged) was estimated at almost EUR 60 Billion (it was worth EUR 54.3 Billion in 2015), thus exhibiting a buoyant year-on-year growth of 9.5%. 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.
- Similarly, the total number of data companies in the EU (i.e. the organizations whose main activity is the production and delivery of data-related products or services) neared the threshold of 255,000 units in 2016, thus marking an increase of 2.3% vis-à-vis the previous year. 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 (i.e. workers collecting, storing, managing and analyzing data as their primary activity) – up 2.6% from our measurement in 2015 – which could come to 10.4 million in 2020 according to the High-Growth Scenario.
- Finally, the data economy(i.e. the aggregated impacts of the data market itself on the EU economy as a whole) represented almost 2% of the EU GDP in 2016 - a constant growing trend over the past three years. This trend is expected to be confirmed in 2020 under the High-Growth scenario with the data economy impacting 4% on the total EU economy.