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Data Annotation Tools Market Report By Trends, Analysis And Global Outlook 2032 | Annotate.com, Appen Limited, CloudApp, Cogito Tech LLC, Deep Systems
Data Annotation Tools Market Research
The Business Research Company's Data Annotation Tools Global Market Report 2023 identifies the rise of big data as the major driver for the Data Annotation Tools market's growth in the forecast period. Big data refers to more diverse information that arrives in larger volumes and moves faster. The widespread use of big data in data annotation is due to the metrics that are employed in machine learning processes as they store, analyze, and manage bulk data.
The global data annotation tools market size is expected to grow from $1.41 billion in 2022 to $1.82 billion in 2023 at a compound annual growth rate (CAGR) of 28.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The data annotation tools market size is expected to grow to $5.21 billion in 2027 at a CAGR of 30.1%.
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Major players in the data annotation tools market are Annotate.com, Appen Limited, CloudApp, Cogito Tech LLC, Deep Systems, Labelbox Inc., LightTag, Lotus Quality Assurance, Payment Inc., Tagtog Sp. z o.o., CloudFactory Limited, ClickWorker GmbH, Alegion, Figure Eight Inc., Amazon Mechanical Turk Inc., Explosion AI GMBH, Mighty AI Inc., Trilldata Technologies Pvt Ltd, Scale AI Inc., Google LLC, Lionbridge Technologies Inc, SuperAnnotate LLC, Dataturks, Defined AI, Hive, IBM Corporation, iMerit, Labelbox Inc., Landing AI, MonkeyLearn Inc., and Neurala Inc.
A key trend in the data annotation tools market includes technological advancements. Major market players are concentrating their efforts on creating innovative technologies to store and manage bulk data, such as mobile 3D point cloud data labeling. For instance, in June 2021, ByteBridge, a China-based company engaged in data labelling services, launched the world's first mobile-based 3D point cloud data labelling service.
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The data annotation tools market is segmented -
By Type: Text, Image/Video, Audio
By Technology: Supervised, Semi-Supervised, Automatic
By Vertical: IT, Automotive, Government, Healthcare, Financial Services, Retail, Other Verticals
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia Pacific was the largest region in the Data Annotation Tools market.
The Business Research Company's "Global Data Annotation Tools Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Data Annotation Tools Market Include:
1. Executive Summary
2. Data Annotation Tools Market Characteristics
3. Data Annotation Tools Market Trends And Strategies
4. Data Annotation Tools Market - Macro Economic Scenario
5. Data Annotation Tools Market Size And Growth
……
26. Africa Data Annotation Tools Market
27. Data Annotation Tools Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Data Annotation Tools Market
29. Data Annotation Tools Market Future Outlook and Potential Analysis
30. Appendix
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