Research into understanding the business and economic impact of new PIMS in the UK. This is an untapped market opportunity worth £16bn for organisations able to adapt and respond to new demands for managing, using and sharing personal data.

Key Findings

• The research estimates the potential size of the market for PIMS as £16.5bn:
  
  • A market for personal data and life management services worth £11.5 bn.
  • A market for decision support services worth £5 bn.
• This would account of around 1.2 per cent of the UK economy. That compares with the automotive industry (0.7 per cent) and pharmaceuticals (0.97 per cent).
• This is an untapped market opportunity for those organisations able to adapt and respond to new demands for managing, using and sharing personal data.

Funded by Nesta, Aimia, Henderson Global Investors, the Open Identity Exchange and Vodafone, Ctrl-Shift has modelled the emerging market for PIMS and analysed the impacts a mature PIMS market would have on organisations.

The research finds that a mature UK market for personal data and life management services would be worth £11.5bn. In addition, the mature market for decision support services could be worth £5bn. Put together, they would account of around 1.2 per cent of the UK economy. That compares with the automotive industry (0.7 per cent) and pharmaceuticals (0.97 per cent).

For organisations in both the public and private sectors, the research finds the main impact of PIMS is to open up new opportunities to reduce the costs of reaching out to and dealing with customers, while also creating an opportunity for innovation around new information services that add new value and differentiate brands.