EU Seeks to ‘Seize the Opportunity’ of Data Economy

“We are today at a pivotal time in the data economy. And we really need to seize this opportunity to boost Europe’s leadership position in this regard,” António Biason, a legal and policy officer at the European Commission’s digital policy department (DG CNECT), told at a EURACTIV event on 13 October. 

Data is and will increasingly be fundamental for the European digital economy, which is why data collaboration across Europe’s industries will be essential.

By 2030, the EU data economy will cross the one trillion euro threshold. And it has been growing annually for a while now, accounting for almost 3.6% of the European Union GDP.

“That’s why the Data Act is so critical. It’s going to help boost the data economy by creating a clear framework for the internal market,” Kir Nuthi, a senior policy analyst at the Center for Data Innovation, told the same event.