The size and trends of the EU data economy
Publication Date/Time
2017-05-08T09:00:00+00:00
The size and trends of the EU data economy
The European Commission published the final results of the European
Data Market study [http://www.datalandscape.eu/]. The study presents
the findings of the monitoring tool on data workers, companies, users
and markets among others. The findings will feed into further
developing the Digital Single Market in the EU as data is a catalyst
for economic growth, innovation and digitisation across all economic
sectors, particularly for SMEs and start-ups.

The Commission put in place a monitoring tool to measure the size and
trends of the EU data economy as part of the European Data Market
study, with the objective of measuring the socio-economic impact of
data. The monitoring tool
[http://www.datalandscape.eu/european-data-market-monitoring-tool]
provides a first assessment of the emerging data market in Europe.

The study has found that 6 million people in Europe worked in
data-related jobs in 2015 and 6.16 million in 2016. As far as
medium-term developments are concerned, it is estimated that under a
high-growth scenario, the number of data workers in Europe will
increase up to 10.43 million, with a compound average growth rate of
14.1% by 2020.

According to the monitoring tool, in 2016 there was a gap between
total demand and supply of data workers of 420,000 unfilled data
worker positions in the EU, corresponding to 6.2% of the total demand
of the skilled data professionals. By 2020, the EU is forecasted to
face a data skills gap corresponding to 769,000 unfilled positions in
the baseline scenario and being concentrated in particular in the
large Member States (especially Germany and France).

The data industry as a whole comprised approximately of 255,000 data
companies in 2016 in the EU. According to the high growth scenario
forecast, this figure will increase to 359,050 by 2020 with a compound
annual growth rate of 8.9%.

Click here
[https://ec.europa.eu/digital-single-market/en/news/final-results-european-data-market-study-measuring-size-and-trends-eu-data-economy]
to read more about the study and to access the study.
