Data Annotation Tools Market Growth Outlook to 2026 | Amazon Web Services, Inc., CloudApp, Inc., CloudFactory, Cogito, Google, Hive, IBM, iMerit, MonkeyLearn Inc., Neurala, Inc.

A detailed analysis of the data annotation tools market is entailed in this research report. The driving forces responsible for propelling the growth graph of this vertical in addition to the regional and competitive trends are mentioned in the study. A comprehensive document comprising details about vital parameters such as the industry ecosystem analysis, market segmentation, and the vendor matrix, the data annotation tools market report also contains information on the pivotal industry insights for core players to look out for.

Key Companies: - Alegion, Inc., Appen Limited, Amazon Web Services, Inc., Clickworker GmbH, CloudApp, Inc., CloudFactory Limited, Cogito, Google LLC, Hive, IBM Corporation, iMerit, Labelbox, Inc., LionBridge AI, Mighty AI, MonkeyLearn Inc., Neurala, Inc., Playment Inc., Samasource Inc., Scale, Inc., Trilldata Technologies Pvt. Ltd., and Webtunix AI.

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Data Type analysis:
Data Type segmentation: The report claims that the Data Type landscape of the data annotation tools market is subdivided into -
o Text
o Audio
o Image/video

Important pointers encompassed pertaining to the Data Type spectrum:
o Major details about the Data Type spectrum are provided in the report.
o The study elaborates on the remuneration forecast of each of the Data Type categories by the end of the anticipated duration.
o The market share which each of the Data Type segments account are mentioned in the study.
o Also, the most proliferating trends that the Data Type spectrum is characterized by are also entailed.

The segment of text annotation tools is anticipated to witness significant growth rate of over 35% CAGR over 2020 and 2026. The immense growth rate can be attributed to textual data labeling becoming increasingly crucial for performing sentiment analysis as well as developing document classification algorithms.

Annotation Approach analysis:

Annotation Approach segmentation: The report states the Annotation Approach landscape of the data annotation tools market to be split into -
o Manual Annotation
o Automated Annotation

Important pointers encompassed pertaining to the Annotation Approach spectrum:
o Substantial details about the Annotation Approach spectrum are provided in the report.
o The study mentions about the valuation estimate of each of the Annotation Approach categories in detail, by the end of the forecast period.
o The market share that each of the Annotation Approach segments account are mentioned in the study.
o The trends that the Annotation Approach landscape is defined by are also contained in the report.

The manual date annotation segment dominated the overall market, accounting for over 75% of the industry share back in 2019 owing to the higher quality of labeled data in comparison to automated data labeling. Manual data labeling activities are conducted by highly skilled professionals having strong expertise on the content and nature of data.

Application analysis:

Application segmentation: The report claims that the Application landscape of the data annotation tools market is subdivided into -
o IT & Telecom
o BFSI
o Healthcare
o Retail
o Automotive
o Agriculture

Important pointers encompassed pertaining to the Application spectrum:
o The report encompasses major details about the Application spectrum.
o The target valuation that each of the sub-segments of the Application landscape will procure by the end of the anticipate period are mentioned in the report.
o The market share that these sub-segments held are also entailed in the study.
o The global trends that define the Application landscape are discussed in the report.

The agriculture segment is anticipated to record a growth of over 30% CAGR during the forecast time period due to the increasing proliferation of AI in precision agriculture. Data labeling solutions allow organizations to develop computer vision models, that are being utilized for numerous agricultural end-uses like soil quality assessment, livestock monitoring, crop harvesting, pet and disease control.

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The data annotation tools market research report presents significant information on the methodology deployed to conceptualize the study in question, by means of various primary and secondary sources. The scope of the report and the elements contained in the same with respect to the growth spectrum of the data annotation tools market has been discussed in the study. Also mentioned in the document are details pertaining to the financial data of the companies profiled in the report, in addition to the currently prevalent price trends of the data annotation tools market.

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