Global demand for the data annotation tools market was valued at around USD 650 Million in 2019 and is expected to reach close to USD 4 Billion in 2025, proliferating at a CAGR of almost 35% between 2019 and 2025.
This report analyzes and estimates the data annotation tools market at global, regional, and country level. The research study provides historic data from 2015 to 2019 along with a forecast from 2020 to 2025 based on revenue (USD Billion). The report offers detailed insights of the data annotation tools market drivers and restraints along with their impact analysis at the global level from 2015 to 2025.
The report covers in-depth analysis of the strategies adopted by major competitors in the global data annotation tools market. To understand the competitive landscape in the global data annotation tools market, an analysis of Porter’s Five Forces model is also included. The research study comprises of market attractiveness analysis, wherein all the segments are benchmarked on the basis of their market size and growth rate.
The research study provides a decisive view on the global data annotation tools market based on the annotation approach, data type, application, and region. All the segments of the market have been analyzed based on the past, present, and future trends. The market is estimated from 2019 to 2025.
Unorganized piles of data can be reframed into organized & extremely useful information with the support of data annotation tools deployed through human assistance and machine learning capabilities. The growing demand for these tools in developing software and applications for various industries is eventually escalating the global data annotation tools market. The increased penetration of data labeling tools in a swiftly growing automotive sector is considerably flourishing the data annotation tools market. Through these tools, automakers can enhance the performance of self-driving vehicles by designing smart applications for V2X (vehicle-to-vehicle communication), improved processing of 2D and 3D annotation captured by various sensors, and to enhance other connectivity features like voice recognition & natural language processing.
The global data annotation tools market is segmented on the basis of annotation approach, data type, application, and region. Based on the annotation approach, the global data annotation tools market is segmented into automated annotation and manual annotation. By data type, the global sector is bifurcated into text, audio, and image/video. Application-wise, the global industry is categorized into healthcare, automotive, IT & telecom, BFSI, agriculture, and retail. The regional segmentation comprises the past, present, and estimated demand for the Middle East & Africa, North America, Asia Pacific, Latin America, and Europe. The regional segment is further split into the U.S., Canada, Mexico, UK, France, Germany, China, Japan, India, South Korea, Brazil, and Argentina among others.
Some of the key players of the global Data annotation tools market include CloudApp Inc., iMerit, Playment Inc., Trilldata Technologies Pvt. Ltd., Amazon Web Services Inc., LionBridge AI, Mighty AI, Samasource Inc., Google LLC, Labelbox Inc., Webtunix AI, Appen Limited, CloudFactory Limited, IBM Corporation, Neurala Inc., Alegion Inc., Cogito, Scale Inc., Clickworker GmbH, MonkeyLearn Inc., and Hive.
The report on global data annotation tools market is segmented as:
Global Data annotation tools Market: By Annotation Approach Segmentation Analysis
Global Data annotation tools Market: By Data Type Segmentation Analysis
Global Data annotation tools Market: By Application Segmentation Analysis
Global Data annotation tools Market: By Regional Segmentation Analysis