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Generative Artificial Intelligence (AI) In Data Labeling Solution And Services Market Poised for 24.5% Growth, Set to Hit $7.1 Billion by 2029
Generative Artificial Intelligence AI In Data Labeling Solution And Services
The surge in the volume of data, driven by the widespread adoption of digital technologies, is forecasted to fuel the expansion of the generative artificial intelligence (AI) in data labeling solutions and services market. The sheer quantity of data generated, harvested, or stored, especially from sources like social media, IoT devices, and online transactions, is increasing. This data surge is significantly streamlined by generative AI data labeling solutions and services, which automate the production of superior, annotated datasets. This automation, in turn, speed up the training of machine learning models while slashing the time and expense associated with manual labeling. For example, a report by the UK Business Data Survey 2022 published by the gov.uk, a professional governmental body in the UK, highlighted that in December 2023, 85% of UK businesses managed their digital data in 2022, a rise from the 81% in 2021. Consequently, the escalating volume of data is playing a significant role in driving the expansion of the generative artificial intelligence (AI) in data labeling solutions and services market.
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What is the projected compound annual growth rate (CAGR) of the generative artificial intelligence (ai) in data labeling solution and services market from 2025 to 2034, and what factors influence it?
The generative artificial intelligence (AI) field, specifically in the arena of data labeling solutions and services, has exhibited significant expansion in the past few years. The market size which is projected to be $15.5 billion in 2024, is expected to balloon to $19.34 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 24.7%. Reasons for this substantial growth during the historical period include a rise in the demand for cost-effectiveness, enhanced investment in AI-centered startups, heightened need for real-time data processing, growing emphasis on data security, and an increased focus on AI ethics.
In the upcoming years, the generative artificial intelligence (AI) in data labeling solution and services market is projected to experience substantial growth, escalating to $46.4 billion in 2029 with a compound annual growth rate (CAGR) of 24.5%. The anticipated growth during this forecast period can be linked to the widening scope of AI applications, e-commerce and digital platform development, advancement in AI research and development, support for languages with low resources and dialects, as well as industry-specific customization. Key trends expected during this forecast period will encompass sophisticated data augmentation, AI-assisted crowdsourcing, machine learning ops integration, improved object recognition, along with advanced natural language processing (NLP) models.
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How are the latest trends influencing the growth of the generative artificial intelligence (ai) in data labeling solution and services market?
Predominant businesses in the generative AI in data labeling solution and services marketplace are concentrated on pioneering innovative solutions like proprietary generative AI services to amplify data labeling potentials and accommodate the expanding demands. Such proprietary generative AI service is a system or platform that a company develops and retains in-house for the creation and deployment of AI models that generate content, data or other yields. For example, in October 2023, Sumitomo Chemical Co., Ltd., a chemical product manufacturing corporation headquartered in Japan, unveiled ChatSCC. This platform has been developed with the aim to boost production and streamline the use of exclusive data across the company's workforce of approximately 6,500. The standout features of this service include real-time sentiment analysis incorporated in conversations, enabling users to swiftly perceive and react to emotional responses, thereby improving engagement and effectiveness in communications.
What are the major segments of the generative artificial intelligence (ai) in data labeling solution and services market and their role in driving growth?
The generative artificial intelligence (AI) in data labeling solution and services market covered in this report is segmented -
1) By Type: Audio-Based, Image Or Video-Based, Text-Based
2) By Labeling Type: Automatic, Manual, Semi-Supervised
3) By Sourcing Type: In-House, Outsourced
4) By Vertical: Automotive, Financial Services, Government, Healthcare, Information Technology (IT) Data, Retail, Other Verticals
Subsegments:
1) By Audio-Based: Speech Recognition, Audio Transcription, Sound Classification, Voice Annotation
2) By Image Or Video-Based: Object Detection, Image Segmentation, Video Annotation, Facial Recognition
3) By Text-Based: Sentiment Analysis, Named Entity Recognition (NER), Text Classification, Document Annotation
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Which regions are key players in the growth of the generative artificial intelligence (ai) in data labeling solution and services market?
North America was the largest region in the generative artificial intelligence (AI) in data labeling solution and services market in 2024. The regions covered in the generative artificial intelligence (AI) in data labeling solution and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the generative artificial intelligence (ai) in data labeling solution and services market?
Major companies operating in the generative artificial intelligence (AI) in data labeling solution and services market are Microsoft Corporation, CloudFactory Limited, iMerit Technology Services Pvt. Ltd., Quantiphi Inc., Samasource Inc., Appen Limited, DataRobot Inc., Scale AI Inc., Cogito Technologies Pvt. Ltd., Clarify Inc., Osiz Technologies Private Limited, Clickworker GmbH, Snorkel AI Inc., Labelbox Inc., V7 Lab Inc., SuperAnnotate Inc., Dataloop AI Ltd., Prolific Ltd., Superb AI Inc., Roboflow Inc., Anolytics Inc., Datasaur, LabelMe, Nanonets Inc.
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What Is Covered In The Generative Artificial Intelligence (AI) In Data Labeling Solution And Services Global Market Report?
•Market Size Forecast: Examine the generative artificial intelligence (ai) in data labeling solution and services market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the generative artificial intelligence (ai) in data labeling solution and services market for a structured understanding.
•Key Players Overview: Analyze major players in the generative artificial intelligence (ai) in data labeling solution and services market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the generative artificial intelligence (ai) in data labeling solution and services market.
•Segment Contributions: Evaluate how different segments drive overall growth in the generative artificial intelligence (ai) in data labeling solution and services market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the generative artificial intelligence (ai) in data labeling solution and services market.
•Industry Challenges: Identify potential risks and obstacles affecting the generative artificial intelligence (ai) in data labeling solution and services market.
•Competitive Landscape: Review strategic developments in the generative artificial intelligence (ai) in data labeling solution and services market, including expansions, agreements, and new product launches.
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