The Economic Impact of Open Data: Opportunities for value creation in
Europe
Publication Date/Time
2020-02-25T08:00:00+00:00
Country
Global
New study on the economic impact of open data published by the
European Data Portal
The European Data Portal publishes its study "The Economic Impact of
Open Data: Opportunities for value creation in Europe
[/sites/default/files/the-economic-impact-of-open-data.pdf]". It
researches the value created by open data in Europe. It is the second
study by the European Data Portal, following the 2015 report. The open
data market size is estimated at €184 billion and forecast to reach
between €199.51 and €334.21 billion in 2025. The report
additionally considers how this market size is distributed along
different sectors and how many people are employed due to open data.
The efficiency gains from open data, such as potential lives saved,
time saved, environmental benefits, and improvement of language
services, as well as associated potential costs savings are explored
and quantified where possible. Finally, the report also considers
examples and insights from open data re-use in organisations. The key
findings of the report are summarised below:

 	* The specification and implementation of high-value datasets as
part of the new Open Data Directive is a promising opportunity to
address quality & quantity demands of open data.
 	* Addressing quality & quantity demands is important, yet not enough
to reach the full potential of open data.
 	* Open data re-users have to be aware and capable of understanding
and leveraging the potential.
 	* Open data value creation is part of the wider challenge of skill
and process transformation: a lengthy process whose change and impact
are not always easy to observe and measure.
 	* Sector-specific initiatives and collaboration in and across
private and public sector foster value creation.
 	* Combining open data with personal, shared, or crowdsourced data is
vital for the realisation of further growth of the open data market.
 	* For different challenges, we must explore and improve multiple
approaches of data re-use that are ethical, sustainable, and
fit-for-purpose.

 [https://data.europa.eu/sites/default/files/img/media/20200225-executive-summary.png]
 

Download the full study on the Economic Value of Open Data:
Opportunities for value creation in Europe (2020)
[/sites/default/files/the-economic-impact-of-open-data.pdf]
