Press release
Data Annotation Tools Market New Opportunities, Segmentation Details with Financial Facts by 2028 | Leading Players MonkeyLearn Inc., Neurala, Inc., Playment Inc., Samasource Inc., Scale, Inc., Trilldata Technologies Pvt. Ltd., CloudFactory Limited, Cogit
The Global Data Annotation Tools Market size was valued at USD 647.9 million in 2019 and is anticipated to grow at a CAGR of 33.8% during the forecast period. Adoption of image data annotation tools in retail, automotive, and healthcare sectors is a key factor driving the growth of the market. Data Annotation Tools Market is expected to play a major role in enhancing the applications of AI in the healthcare sector. The key benefit of using annotation tools is that the combination of data attributes enables users to manage the data definition at a single location and eliminates the need to rewrite similar rules in multiple places. The rise of big data and increase in the number of large datasets is likely to necessitate the use of artificial intelligence technologies in the field of data annotations.Get Sample Copy of This Report @ https://www.quincemarketinsights.com/request-sample-65691?utm_source=SK&utm_medium=Openpr&utm_campaign=SK
With the widening scope of growth in data labeling, companies are developing AI-enabled healthcare applications to collaborate with data annotation tool companies providing the required datasets that can assist them in enhancing their machine learning and deep learning capabilities.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
MonkeyLearn Inc.
Neurala Inc.
Playment Inc.
Samasource Inc.
Scale Inc.
Trilldata Technologies Pvt. Ltd.
CloudFactory Limited
Cogito
Google LLC
Hive
IBM Corporation
iMerit
Labelbox Inc.
LionBridge AI
Alegion Inc.
Appen Limited
Amazon Web Services Inc.
Clickworker GmbH
CloudApp Inc.
Mighty AI
Webtunix AI
Key Trends of the Data Annotation Tools Market:
Data annotation is expected to play a major role in enhancing the applications of AI in the healthcare sector.
The text annotation tool segment accounted is expected to expand at a promising due to rising applications in e-commerce and clinical research.
North America accounted for the dominant share in the market in 2019. This is due to rapid product and geographic expansion strategy undertaken by vendors in order to gain an edge in the market.
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Content, Designing, and Versatility to boost Manual Data Annotation Segment
Manual data annotation approach held the largest market share in the global data annotation market in 2019, this is due to several advantages like accuracy, high level of integrity, need for minimal administration of data annotation efforts compared to other alternatives. Based on annotation approach, the global data annotation tools market is divided into manual annotation and automated annotation.
North America to Benefit from Presence of Major Companies
In terms of revenue North America is expected to lead the global data annotation tools market during the forecast period. This is due to the presence of major companies and their rapid product and geographic expansion strategy in this region.
Asia-Pacific region is expected to register highest growth rate in the global data annotation market during the forecast period, this growth rate is subjected to the recent growth of the healthcare industry and growing adoption of data annotation tools, particularly in the healthcare and financial services
An Overview of the Market
The report offers insights on the global market
The recent market developments are scrutinized to project latest trends along with growth rate projections
Deeper understanding of the competitive landscape of the major companies operating in the market
New Opportunities and challenges for the global market
Study of innovation and technological advancements in the industry
Analysts have comprehensively examined the market with extensive research based on deep understanding of the market with broad analysis. The global market has been classified into numerous segments along with regional analysis to offer understandings on present and eventual growth trajectories.
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Market Segmentation:
By Data Type
Image/video
Bounding Box
Semantic Annotation
Polygon Annotation
Lines & Splines
Text
Audio
By Annotation Approach
Manual Annotation
Automated Annotation
By Application
IT & Telecom
BFSI
Healthcare
Retail
Automotive
Agriculture
By Region:
North America Data Annotation Tools Market
By Country (US, Canada, Mexico)
By Data Type
By Annotation Approach
By Application
Europe Data Annotation Tools Market
By Country (Germany, Russia, UK, France, Italy, Spain, Rest of Europe)
By Data Type
By Annotation Approach
By Application
Asia Pacific Data Annotation Tools Market
By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
By Data Type
By Annotation Approach
By Application
Middle East & Africa Data Annotation Tools Market
By Country (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa)
By Data Type
By Annotation Approach
By Application
South America Data Annotation Tools Market
By Country (Brazil, Argentina, Colombia, Rest of South America)
By Data Type
By Annotation Approach
By Application
Contact:
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