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
(Source: http://www.europeandataportal.eu/)
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 under100,000 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.

Economic benefits are primarily derived from the re-use of Open Data. Value is there. The question is how big?
The European Union has adopted legislation to foster the re-use of Open (Government) Data. The expected impact of this legislation combined with the development of data portals, is to drive economic benefits and further transparency. Economic benefits are primarily derived from the re-use of Open Data. Value is there. The question is how big?
Thus, the European Commission, within the context of the launch of the European Data Portal, wished to obtain further evidence of the quantitative impact of re-use of Public Data Resources. A study was carried out with the aim to collect, assess and aggregate all economic evidence to forecast the benefits of the re-use of Open Data for all 28 European Member States and the ETFA countries, further referred to as EU 28+, for the period 2016-2020.
Direct benefits are monetised benefits that are realised in market transactions in the form of revenues and Gross Value Added (GVA), the number of jobs involved in producing a service or product, and cost savings. Indirect economic benefits are i.e. new goods and services, time savings for users of applications using Open Data, knowledge economy growth, increased efficiency in public services and growth of related markets.
The market volume exhibits the totality of the realised sales volume of a specific market; the value added. A distinction can be made between the direct market size and the indirect market size. Together they form the total market size for Open Data. 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 is expected to increase 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.
(Source: http://www.europeandataportal.eu/)