The Rise of Synthetic Data:
A Look into the Future
Synthetic data is a rapidly growing field that is revolutionizing the way we use and analyze data. With its ability to generate realistic and diverse datasets, synthetic data is quickly becoming a popular tool for AI and analytics. In fact, Gartner estimates that :
Synthetic data holds great potential in creating and augmenting real data for AI and machine learning training, addressing privacy and compliance concerns.
The adoption of synthetic data is expected to increase significantly in the coming years, driving innovations and opportunities in various industries.
By 2030, Synthetic data will completely overshadow real data in AI models.
The hype cycle of synthetic data
Gartner's insights and CloudTDMS's Projections
The hype cycle concept at Gartner tracks the maturity of emerging technologies. Synthetic data has been a significant topic in the AI hype cycle. With Gartner's past insights and predictions for 2024 and 2030, we can explore the evolution of synthetic data throughout this cycle.
What it tells us about
Gartner's predictions suggest that a disillusionment phase is on the horizon, where only the most innovative vendors are likely to persist.
Synthetic data is currently at the peak of inflated expectations. Public opinion is overly optimistic, and vendors are emerging in abundance. However, the approch and maturity varies among vendors.
In the coming years, a period of disillusionment is expected. Only the most innovative vendors are likely to survive this phase.
By 2028, synthetic data is expected to reach maturity, with a more realistic perception among the public. Adoption by companies is likely to increase significantly at this point.
The adoption cycle of synthetic data
From Innovators to Laggards.
The adoption of new technologies, including synthetic data, often follows a predictable pattern known as the adoption cycle. In this page, we will explore CloudTDMS prediction of synthetic data adoption, spanning from the pioneering innovators to the more cautious laggards, closely aligned with the previously discussed hype cycle concept.
CloudTDMS's Insights on
Synthetic Data Adoption
CloudTDMS observes that the synthetic data market is currently in its early stages, being tested by innovators and early adopters, with increasing evidence of its potential.
The early majority is expected to integrate synthetic data into their processes between 2025 and 2026, paving the way for its democratization.
Aligned with Gartner's Prediction: By 2030, synthetic data will indeed become a ubiquitous technology, widely adopted by the majority of companies. It will provide a competitive edge and serve as a prerequisite for numerous data-driven projects.
Gartner's prediction points to a significant shift by 2030, where synthetic data will surpass real data in prominence and impact across industries.
Synthetic data's rise is driven by its accessibility and reliability, empowering AI innovation.
It eases the challenges of obtaining suitable data for various projects.
The democratization of data access opens doors to new possibilities and applications.