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European Data Market study: Data-related health tech growing fast

29 June 2017   (0 Comments)
Posted by: Beatriz Sanz
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Data-related technologies are growing rapidly in European healthcare: 10,2% over 2015-2016. Also the growth rate of data users in healthcare is well above the EU28 average. These are some outcomes of the recently published European Data Market study measuring the size and trends of the EU data economy in 2016.

According to this study, data-related technologies are rapidly finding new ground in previously unchartered areas and are growing fast in healthcare, but also in ICT, education, housing and the public sector as a whole.

Figure 34 Data Market Value by Industry, 2016, € Million, Data Market Growth by Industry, 2016-2015, %

 

The study found that even though the largest industries by number of data user companies in 2016 were professional services, manufacturing, wholesale and retail and transport (totalling together almost two thirds of Europe’s population of data users), they were not the most dynamic in terms of year-on-year growth as they increased at a growth rate around or slightly below the average EU growth for the years 2016-2015.

Figure 21 Industry Ranking by number of data users, 2015-2016, 000s and growth rates

In contrast, less populated industries such as healthcare registered a growth rate well above the EU28 average in 2016, demonstrating their dynamism in terms of adoption and take-up of data-driven technologies.

Data is a catalyst for economic growth, innovation and digitisation across all economic sectors, particularly for SMEs and start-ups.

The European Data Market Study presents the findings of the monitoring tool on data workers, the value of the data market, the number of data user enterprises, the number of data companies and their revenues, and the overall value of the impact of the data economy on EU GDP. The findings will feed into further developing the Digital Single Market in the EU.