Press release
Data Annotation Market Key Vendors, Segment, Growth Opportunities by 2017 to 2032
Data Annotation Market
An on-premises, cloud-based, or containerized software-based data annotation tool is a solution created to understand production-grade machine learning training tools. Additionally, data annotation tools are made to work with a specific collection of data, such as video, picture, text, spreadsheet, and sensor data, which are utilised in a variety of deployment models, including SaaS (Cloud), on-premises, container, and Kubernetes. The development of data annotation tools is also being fueled by the fact that enterprises all over the world design their own data annotation tools. Additionally, the rise in the use of AI and ML technologies in the IT and healthcare sectors is functioning as a key driver, resulting in the rising need for data annotation tools during the course of the projected period.
Market Overview
The major drivers fueling the market expansion include things like expanding digital transformation across industries, rising internet and mobile device adoption globally, and increase in big data consumption. Future industrial solutions will be built with cloud enhancements and need data annotation services to improve their digital business capabilities. Additionally, the increased use of the Internet of Things (IoT), edge computing, 5G, and real-time analytics made possible by Artificial Intelligence (AI) and Machine Learning (ML) is probably going to increase the usefulness of this computer technology among enterprises.
The major drivers fueling the market expansion include things like expanding digital transformation across industries, rising internet and mobile device adoption globally, and increase in big data consumption. Future industrial solutions will be built with cloud enhancements and need data annotation services to improve their digital business capabilities. Additionally, the increased use of the Internet of Things (IoT), edge computing, 5G, and real-time analytics made possible by Artificial Intelligence (AI) and Machine Learning (ML) is probably going to increase the usefulness of this computer technology among enterprises.
The increasing use of identifying and tracking software is just one of the elements driving the market's expansion. Larger expenditures are being made in the development of autonomous vehicles due to the growing popularity and production of these vehicles in the automotive industry, which will fuel the expansion of the global market for data annotation services. Enterprises are also concerned about the up-front and ongoing costs associated with hosting data on-premises.
The adoption of cost-effective strategies to reorganise business models has intensified due to the current competitive environment and global economic conditions. A few more drivers driving the usage of data annotation services, which in turn is lowering enterprise expenses, are the growing shift of businesses towards the adoption of digital transformation and the acceleration of customer experience.
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Global Data Annotation Market: Major Players
• Deep Systems
• Annotate.com
• Playment Inc
• Figure Eight Inc
• Cogito Tech LLC
• Lotus Quality Assurance
• CloudApp
• Labelbox, Inc.
• Alegion
• CloudFactory Limited
• Tagtog Sp. z o.o
• LightTag
• Clickworker GmbH
• Appen Limited
• Amazon Mechanical Turk, Inc;
Global Data Annotation Market: By Types
• Text
• Image/Video
• Audio
Global Data Annotation Market: By Applications
• IT
• Automotive
• Government
• Healthcare
• Financial Services
• Retail
• Others
Reasons to Purchase this Market Report:
• The competitive environment includes the proportions of important players, recent innovations, and strategy.
• Companies with extensive product offerings, pertinent financial data, recent advancements, SWOT analyses, and player tactics.
• Quantitative, qualitative, value (in USD million), and volume (in units million) data are among the segments and sub-segments.
• The research contains a wealth of data, including market dynamics and opportunities throughout the forecast period.
• Data at the regional, sub-regional, and national levels also provides information on the market's supply and demand dynamics.
Global Data Annotation Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Data Annotation market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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