The benefits of Open Data are diverse and range from improved efficiency of public administrations, economic growth in the private sector to wider social welfare.
Performance can be enhanced by Open Data and contribute to improving the efficiency of public services. Greater efficiency in processes and delivery of public services can be achieved thanks to cross-sector sharing of data, which can for example provide an overview of unnecessary spending.
The economy can benefit from an easier access to information, content and knowledge in turn contributing to the development of innovative services and the creation of new business models.
Social welfare can be improved as society benefits from information that is more transparent and accessible. Open Data enhances collaboration, participation and social innovation.
The economy can benefit from easier access to information, content and knowledge in turn contributing to the development of innovative services and the creation of new business models.
For 2016, the direct market size of Open Data is expected to be 55.3 bn EUR for the EU 28+. Between 2016 and 2020, the market size increases by 36.9%, to a value of 75.7 bn EUR in 2020, including inflation corrections. For the period 2016-2020, the cumulative direct market size is estimated at 325 bn EUR.
New jobs are created through the stimulation of the economy and a higher demand for personnel with the skills to work with data. In 2016, there will be 75,000 Open Data jobs within the EU 28+ private sector. By 2020, this number will increase to just under 100,000 Open Data jobs. Creating almost 25,000 new direct Open Data jobs by 2020.
Public sector performance can be enhanced by Open Data. Greater efficiency in processes and delivery of public services can be achieved thanks to cross-sector sharing of data, providing faster access to information. The accumulated cost savings for the EU28+ in 2020 are forecasted to equal 1.7 bn EUR.
Open Data results in efficiency gains as real-time data is used that enables easy access to information that improves individual decision-making. Three case studies are assess in more detail: how Open Data can save lives, how it can be used to save time and how Open Data helps achieve environmental benefits. For example, Open Data has the potential of saving 7000 lives a year by providing resuscitation earlier. Furthermore, applying Open Data in traffic can save 629 million hours of unnecessary waiting time on the roads in the EU.