Press release
Data Annotation Tools Market Poised for Rapid Growth, Forecasted to Reach US$ 13,696.23 million by 2030
Data Annotation Tools Market
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ (๐๐๐ญ ๐ ๐ฎ๐ฅ๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง ๐๐๐ - 250 ๐๐๐ ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/request-sample/A07910
The Data Annotation Tools Market report delivers in-depth data related to key drivers, key players, restraints, and opportunities with detailed impact analysis. The spread of Covid-19 acted as a major factor driving the growth of the global data annotation tools market size. This growth is attributed to the rise in demand for artificial intelligence and machine learning. However, the market has been primarily hit by several obstacles due to the lack of availability of a skilled workforce during a lockdown. Moreover, rise in demand for text annotation for document classification is projected to provide opportunities during the forecast period.
Based on end users, the IT & Telecommunication segment contributed to the largest share in 2020, accounting for more than one-fourth of the global data annotation tools market. However, the healthcare segment is expected to manifest the highest CAGR of 31.4% from 2021 to 2030.
Furthermore, the prime aim of data annotation tools is to help a machine recognize videos, images, and text via computer vision. Moreover, rapid automation across multi and hybrid cloud-based solutions across prime enterprises sectors is propelling the growth of the data annotation tools market. Further, advancement in machine learning and artificial intelligence technology has revolutionized various industries globally. Subsequently, this offers significant growth opportunities for the market.
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ : https://www.alliedmarketresearch.com/data-annotation-tools-market/purchase-options
The growth of the global data annotation tools is majorly driven by surge in penetration of artificial intelligence and machine learning solutions and rise in demand for annotated data to improve machine learning models. However, high cost and lack of skilled labor associated with manual annotation of complex acts as a prime restraint of the global market. On the contrary, the growing adoption of data annotation for medical imaging data and rising investments in the development of autonomous driving technologies are anticipated to provide lucrative opportunities for the data annotation tools industry during the forecast period.
Based on component, the solution segment accounted for the largest market share in 2020, contributing to more than two-thirds of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the service segment is estimated to witness the fastest CAGR of 28.2% from 2021 to 2030.
๐๐ก๐ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ฉ๐ซ๐จ๐๐ข๐ฅ๐๐ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐
DBRAIN, SCALE AI, INC., COGITO, APPEN LIMITED, LIONBRIDGE TECHNOLOGIES, INC., AMAZON MECHANICAL TURK, INC., CLICKWORKER GMBH, TAGTOG SP. Z O.O., LIGHTTAG, PLAYMENT
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎ'๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-for-customization/A07910
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
Based on region, North America contributed to the highest share in 2020, holding nearly two-fifths of the total share. On the other hand, Asia-Pacific is anticipated to manifest the fastest CAGR of 31.1% during the forecast period.
Region-wise, North America holds a significant share in the global data annotation tools market. The adoption of artificial intelligence and machine learning technology across healthcare and IT & telecommunication level is expected to propel the growth of the data annotation tools industry in this region. Moreover, surge in demand for text annotation for document classification technologies across government and BFSI sectors in North America is anticipated to boost the growth of the data annotation tools market in this region.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A07910
The solution segment dominated the data annotation tools market size in 2020 and is projected to maintain its dominance during the forecast period. Surge in adoption of hybrid cloud-computing technology application across IT, healthcare, and BFSI sector has led the growth of the solution segment in the data annotation tools market.
๐๐ญ๐ก๐๐ซ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
ultra-secure smartphone market - https://www.globenewswire.com/news-release/2019/03/08/1750317/0/en/Ultra-Secure-Smartphone-Market-to-Reach-4-93-Billion-by-2025-at-22-3-CAGR-Says-Allied-Market-Research.html
hyperscale data center market - https://www.globenewswire.com/news-release/2022/06/13/2460860/0/en/Hyperscale-Data-Center-Market-to-Generate-585-0-Billion-by-2030-Allied-Market-Research.html
enterprise content management system market - https://www.prnewswire.com/news-releases/enterprise-content-management-system-market-to-reach-53-2-bn-globally-by-2030-at-9-8-cagr-allied-market-research-301552773.html
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