Data-driven innovation is a key driver for growth and jobs in Europe. The importance of data collected online or generated by IoT (Internet of Things) objects, the availability of big data analysis tools and artificial intelligence applications today are key technical drivers for growth and development.
In 2016, the value of the EU's data economy was close to EUR 306 billion, representing more than 2.2% of the EU's own GDP. With an annual growth rate of 9.7%, this value increased to EUR 336 billion, or 2.4% of GDP, in 2017. By putting in place favourable policies and legislative conditions and encouraging appropriate investments in ICT, the value of the European data economy can exceed the EUR 1 trillion threshold by 2025, or 6 per cent of the EU's total GDP.
Publication date: 12/06/2018