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Data Annotation Tools Market Size, Share & Trends Analysis Report By Type, By Annotation Type, By Vertical, By Region And Segment Forecast by 2022-2027
Data Annotation Tools Market
A data annotation tool is a containerized software solution that can annotate production-grade training data for machine learning. It is generally designed to use specific data types, such as image, video, text, audio, spreadsheet, or sensor data. It helps manage the quality control (QC) and verification process. It offers various benefits, such as improving output accuracy and providing an enhanced experience to end-users. Many data annotation tools are offered commercially for lease and purchase.
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Data Annotation Tools Market Growth:
The global market is majorly driven by the rapid adoption of image data annotation tools across the automotive, retail, and healthcare sectors. In line with this, the increasing demands for improvements in machine learning and the rising investment in advanced autonomous driving technology are significantly contributing to the market growth. Furthermore, the growing usage of data annotation tools in enhancing the applications of AI in the healthcare sector is positively influencing market growth. Apart from this, companies developing AI-enabled healthcare applications collaborate with data annotation companies to deliver the required data sets that can help them improve their machine learning and deep learning capabilities. This, in turn, is catalyzing market growth. Moreover, escalating demand for machine learning in automated data analytics is propelling the market. Besides, rapid innovations in the retail segment, specifically in improving the e-commerce sector, and using information labeling tools, are favoring the market growth. With a rising number of enterprises leveraging big data analytics to streamline data collection and assimilation processes, demand for data annotation tools is anticipated to grow in the coming years.
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Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
• Alegion
• Amazon Web Services Inc. (Amazon.com Inc.)
• Appen Limited
• clickworker GmbH
• CloudFactory Limited
• Cogito Tech LLC
• Labelbox Inc
• Lionbridge Technologies LLC
• Scale AI Inc
• tagtog Sp. z o.o
• TELUS International (TELUS Corporation)
Key Market Segmentation:
Breakup by Data Type:
• Text
• Image/Video
• Audio
Breakup by Annotation Type:
• Manual
• Semi-supervised
• Automatic
Breakup by End User:
• BFSI
• Healthcare
• Government
• Automotive
• IT and Telecommunication
• Retail and E-Commerce
• Others
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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