Press release
Strong Growth Ahead: Data Annotation Tools Market Size To Grow At Arecord 31.5% Cagr By 2029
Data Annotation Tools
How Big Is the Data Annotation Tools Market Size Expected to Be by 2034?
In recent times, there has been a remarkable upsurge in the market size of data annotation tools. The market, which stood at $2.33 billion in 2024, is expected to leap to $2.99 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 28.3%. The historical growth has been fueled by increased demand for annotated data, the requirement for premium quality labeled data, adherence to regulatory compliance, the advent of self-driving vehicles, an emphasis on data precision and quality, and the worldwide proliferation of intelligent agriculture.
In the upcoming years, the market size of data annotation tools is projected to witness substantial expansion. The market is predicted to reach $8.92 billion by 2029 with a compound annual growth rate (CAGR) of 31.5%. The surge in this market during the forecasted period can be related to the advancement in annotation automation, the elevated adoption of federated learning, focus on active learning methods, better tools for managing 3d data, the creation of annotation tools for multimodal data, and an emphasis on affordable annotation solutions. Major trends expected in this period are an increased focus on computer vision, the outsourcing of data annotation services, the transition towards semi-supervised and self-supervised learning, large-scale annotation projects being crowdsourced, and annotation platforms introducing collaboration features.
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What Are the Emerging Segments Within the Data Annotation Tools Market?
The data annotation tools market covered in this report is segmented -
1) By Type: Text, Image Or Video, Audio
2) By Technology: Supervised, Semi-Supervised, Automatic
3) By Vertical: IT, Automotive, Government, Healthcare, Financial Services, Retail, Other Verticals
Subsegments:
1) By Text: Sentiment Analysis, Named Entity Recognition (NER), Text Classification, Text Summarization
2) By Image Or Video: Image Classification, Object Detection, Image Segmentation, Video Annotation
3) By Audio: Speech Recognition, Audio Classification, Transcription Services, Speaker Identification
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What Long-Term Drivers Are Shaping Data Annotation Tools Market Trends?
The surge in big data is forecasted to fuel the expansion of the data annotation tools market in the future. Big data comprises varied information that comes in larger quantities and at a faster pace. The broad adoption of big data in data annotation can be attributed to the metrics used in machine learning operations, which handle, analyze, and store vast amounts of data. For example, a report released by the World Economic Forum, a non-governmental organization based in Switzerland that engages in lobbying and international activities, estimates that by 2025, an immense 463 exabytes of data, equivalent to about 212.77 million DVDs per day, will be created worldwide. Consequently, the upsurge of big data is predicted to propel the advancement of the data annotation tools market.
Who Are the Top Competitors in Key Data Annotation Tools Market Segments?
Major companies operating in the data annotation tools market are Appen Limited, CloudApp, Cogito Tech LLC, Deep Systems, iMerit Technology Services Pvt. Ltd., Samasource Inc., Lionbridge Technologies Inc., Clickworker GmbH, CloudFactory Limited, Scale Inc., Amazon Web Services Inc., Playment Inc., Labelbox Inc., Neurala Inc., Webtunix AI, Hive CloudApp Inc., TagX, Anolytics, LightTag, Alegion Inc., DefinedCrowd Corporation, Edgecase AI, V7 Labs, Supervisely OÜ, Dataloop AI
What Data Annotation Tools Market Trends Are Gaining Traction Across Different Segments?
Leading firms in the data annotation tools market are introducing progressive products like AI-driven data development platforms to bolster the precision, scalability, and effectiveness of data labeling operations. These platforms use artificial intelligence to automate and streamline the gathering, organization, annotation, and preparation of data for machine learning (ML) models. For example, the American software company Snorkel AI introduced Snorkel Flow, an AI data development platform that simplifies the process of training data labeling and model growth for businesses. The most recent version of Snorkel Flow improves platform backing for subject matter experts (SMEs) during annotation, evaluation, and collaboration. Furthermore, it incorporates a reviewer workflow management feature, making the review process more efficient and simplifying the correction of labeling mistakes.
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Which Regions Are Becoming Hubs for Data Annotation Tools Market Innovation?
Asia Pacific was the largest region in the data annotation tools market in 2024. North America is expected to be the fastest-growing region in the data annotation tools market report forecast period. The regions covered in the data annotation tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Data Annotation Tools Market?
2. What is the CAGR expected in the Data Annotation Tools Market?
3. What Are the Key Innovations Transforming the Data Annotation Tools Industry?
4. Which Region Is Leading the Data Annotation Tools Market?
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