The European data market is undergoing a significant transformation, playing an increasingly pivotal role in shaping industries and economies. According to the European Data Market Study 2021-2023, the data economy in the EU27 surpassed €544 billion in 2023, reflecting a growth rate of 9.3% compared to the previous year​ (European Data Market Study). This rapid expansion highlights the growing importance of efficient data sharing and monetization across sectors.
UnionAll aims to support this shift by providing data sellers with the tools they need to manage, sell, and share data through their own customizable data shops.
Key Trends Shaping the Data Market
The European Data Market report shows a marked increase in both data providers and users. In 2023, there were over 238,000 data provider companies in EU27 and 604,000 data user companies, reflecting growth rates of 9.2% and 3.5% year-over-year, respectively​ (European Data Market Study). These numbers demonstrate how businesses across Europe are becoming more dependent on data for operations, innovation, and strategic decision-making.
However, this growth is accompanied by certain challenges. The study identifies a persistent data skills gap across Europe, with 363,000 unfilled data professional positions in EU27 in 2023. Although data professionals make up 4.3% of the EU workforce, demand continues to outpace supply​ (European Data Market Study). Addressing this skills gap is crucial for businesses looking to fully leverage their data capabilities.
UnionAll’s Role in the Data Economy
In response to these trends, UnionAll offers a solution that simplifies the data exchange process. For data sellers, the platform provides the necessary infrastructure to set up their own data shops, allowing them to sell data directly to interested buyers. This approach not only streamlines transactions but also supports the increasing need for transparency and regulation compliance in data sharing.
By offering a flexible platform, UnionAll ensures that data providers can showcase their datasets effectively, reach potential buyers, and manage transactions securely. The platform’s tools are designed to address the practical needs of companies navigating this growing market.
Looking Ahead: The Future of Data in Europe
The European Data Market report predicts continued growth in the data market, with projections suggesting that the EU27 data market will reach €118 billion by 2030 under a baseline scenario​(European Data Market Study). This growth will be driven by increasing digital transformation, improved data governance, and broader adoption of data-driven innovation across industries.
UnionAll is well-positioned to support this ongoing evolution by offering a platform that simplifies the complexities of data buying and selling. As businesses in Europe continue to recognize the value of data, platforms like UnionAll will play a key role in ensuring that the data economy remains accessible and efficient for all participants.
Conclusion
The data economy is becoming a vital part of Europe's economic landscape, with increasing numbers of companies relying on data to drive innovation and growth. The European Data Market Study 2021-2023 underscores this trend, offering insights into the market’s current state and future trajectory. By providing an accessible, user-friendly platform for data exchange, UnionAll is contributing to the growth and efficiency of this expanding market.
As the data market continues to evolve, having the right tools to navigate it will become even more essential. UnionAll offers a practical, straightforward solution for data providers looking to engage with this dynamic sector.
References:
European Data Market Study 2021-2023, Final Study Report, European Commission, 2024​