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The global data annotation tools market was valued at USD 807.0 million in 2022, growing at a CAGR of 27% from 2023 to 2032. The market is expected to reach USD 8808.6 million by 2032. As a significant number of information must be recorded, stored, and analyzed, the introduction of big data is predicted to drive the expansion of the artificial intelligence market. Artificial intelligence is predicted to drive significant market growth, as annotated data acts as a catalyst for training AI models and machine learning systems in crucial areas such as speech recognition and picture recognition. These technologies strengthen AI by immediately delivering information relevant to predicting future outcomes and making decisions.
An on-premise, cloud-based, or containerized software-based data annotation tool is used to understand production-grade training tools for machine learning. Furthermore, data annotation tools are intended for usage with specific data collection, such as video, picture, text, spreadsheet, and sensor data. They are utilized in various deployment types, including SaaS (Cloud), on-premises, containers, and Kubernetes. Furthermore, organizations worldwide are building their data annotation tools, fueling the growth of data annotation tools. The increased adoption of artificial intelligence and machine learning solutions in the healthcare and IT sectors is a key driver, resulting in increased demand for data annotation tools during the forecast period. The data annotation tools market is predicted to develop significantly over the forecast period, owing to increased demand for annotated data to improve machine learning models. Furthermore, an increase in investments in the development of autonomous driving technologies, combined with an increase in the penetration of artificial intelligence and machine learning technology, is propelling the data annotation tools market forward.
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In March 2023, Ship, a prominent provider of platforms and services in the AI Data business, increased its activities by opening a new office in India. This effort will expand the company's healthcare data annotation tool capabilities.
Rising Implementation- The increased implementation of picture data annotation technologies in the automotive, retail, and healthcare industries drives the expansion. Data annotation tools allow users to increase the value of data by labelling it or adding attribute tags. The primary advantage of annotation tools is that combining data attributes allows users to manage the data definition in a single spot, eliminating the need to rewrite similar rules in different locations. The rise of big data and the increase in the number of massive datasets will likely entail the usage of artificial intelligence technology in data annotation.
Inaccuracy- The inaccuracy of data annotation tools acts as a barrier to market growth. For example, a given image may be low resolution and contain several items, making labelling difficult. The fundamental obstacle the market faces is inaccuracy in the quality of labelled data. In some circumstances, manually labelled data may contain errors, and the time required to uncover such errors may vary, increasing the overall cost of the annotation process.
Technological Advancements- Massive amounts of data are generated by technologies such as the Internet of Things (IoT), robotics, Machine Learning (ML), advanced predictive analytics, and Artificial Intelligence (AI). With evolving technology, data efficiency becomes increasingly important for developing new corporate breakthroughs, infrastructure, and economics. These elements have considerably aided the market expansion. Firms creating AI-enabled healthcare apps are cooperating with data annotation firms to supply the essential data sets that can assist them in strengthening their machine learning and deep learning capabilities, owing to the increasing scope of growth in data labelling.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest market for the global data annotation tools market, with a 59% market revenue share in 2022.
This is due to market vendors' aggressive product and geographical expansion strategies to achieve a competitive advantage. Over the forecast period, the market is expected to increase steadily in North America. Furthermore, the increased emphasis on picture annotation is expected to improve the operations of the retail and automotive verticals in the region.
North America Region Data Annotation Tools Market Share in 2022 - 59%
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The type segment is divided into text, image/video and audio. The image/video segment dominated the market, with a market share of around 43% in 2022. Some of the most important uses of image data annotation are in medical imaging. For example, by the first half of 2018, total investment in firms creating machine-learning solutions based on medical pictures had reached $522 million. In the data annotation market, noteworthy startups in the healthcare sector include Infervision, Zebra Medical Vision, and Arteries.
The application segment is divided into IT & telecommunication, retail & e-commerce, BFSI, healthcare, government, automotive, and others. The healthcare segment dominated the market, with a market share of around 38% in 2022. Data annotation is likely to play a significant role in improving AI applications in the healthcare sector. AI-backed machines use machine vision or computer vision in medical imaging data technology to notice patterns and identify potential injuries, assisting medical practitioners in automatically creating reports once the individual is checked. The AI can quickly screen a database of CT scans, MRI images, and X-Ray images to detect various injuries. Data annotation tools assist in training AI systems to differentiate data acquired from normal and wounded medical photos to provide final reports for the persons being examined. As a result, data annotation is predicted to improve AI applications in the healthcare sector significantly.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Million) |
| Market size value in 2022 | USD 807.0 Million |
| Market size value in 2032 | USD 8808.6 Million |
| CAGR (2023 to 2032) | 27% |
| Historical data | 2019-2021 |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Type, Application |
As per The Brainy Insights, the size of the data annotation tools market was valued at USD 807.0 million in 2022 to USD 8808.6 million by 2032.
The global data annotation tools market is growing at a CAGR of 27% during the forecast period 2023-2032.
North America emerged as the largest data annotation tools market.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Type
4.3.2. Market Attractiveness Analysis by Application
4.3.3. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Rising implementation
5.3. Restraints
5.3.1. High cost
5.4. Opportunities
5.4.1. Technological advancements
5.5. Challenges
5.5.1. Inaccuracy
6. Global Data Annotation Tools Market Analysis and Forecast, By Type
6.1. Segment Overview
6.2. Text
6.3. Image/Video
6.4. Audio
7. Global Data Annotation Tools Market Analysis and Forecast, By Application
7.1. Segment Overview
7.2. IT & Telecommunication
7.3. Retail & E-commerce
7.4. BFSI
7.5. Healthcare
7.6. Government
7.7. Automotive
7.8. Others
8. Global Data Annotation Tools Market Analysis and Forecast, By Regional Analysis
8.1. Segment Overview
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.2.3. Mexico
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. U.K.
8.3.4. Italy
8.3.5. Spain
8.4. Asia-Pacific
8.4.1. Japan
8.4.2. China
8.4.3. India
8.5. South America
8.5.1. Brazil
8.6. Middle East and Africa
8.6.1. UAE
8.6.2. South Africa
9. Global Data Annotation Tools Market-Competitive Landscape
9.1. Overview
9.2. Market Share of Key Players in Global Data Annotation Tools Market
9.2.1. Global Company Market Share
9.2.2. North America Company Market Share
9.2.3. Europe Company Market Share
9.2.4. APAC Company Market Share
9.3. Competitive Situations and Trends
9.3.1. Product Launches and Developments
9.3.2. Partnerships, Collaborations, and Agreements
9.3.3. Mergers & Acquisitions
9.3.4. Expansions
10. Company Profiles
10.1. Annotate.com
10.1.1. Business Overview
10.1.2. Company Snapshot
10.1.3. Company Market Share Analysis
10.1.4. Company Product Portfolio
10.1.5. Recent Developments
10.1.6. SWOT Analysis
10.2. Appen Limited
10.2.1. Business Overview
10.2.2. Company Snapshot
10.2.3. Company Market Share Analysis
10.2.4. Company Product Portfolio
10.2.5. Recent Developments
10.2.6. SWOT Analysis
10.3. CloudApp
10.3.1. Business Overview
10.3.2. Company Snapshot
10.3.3. Company Market Share Analysis
10.3.4. Company Product Portfolio
10.3.5. Recent Developments
10.3.6. SWOT Analysis
10.4. Cogito Tech LLC
10.4.1. Business Overview
10.4.2. Company Snapshot
10.4.3. Company Market Share Analysis
10.4.4. Company Product Portfolio
10.4.5. Recent Developments
10.4.6. SWOT Analysis
10.5. Deep Systems
10.5.1. Business Overview
10.5.2. Company Snapshot
10.5.3. Company Market Share Analysis
10.5.4. Company Product Portfolio
10.5.5. Recent Developments
10.5.6. SWOT Analysis
10.6. Labelbox, Inc
10.6.1. Business Overview
10.6.2. Company Snapshot
10.6.3. Company Market Share Analysis
10.6.4. Company Product Portfolio
10.6.5. Recent Developments
10.6.6. SWOT Analysis
10.7. LightTag
10.7.1. Business Overview
10.7.2. Company Snapshot
10.7.3. Company Market Share Analysis
10.7.4. Company Product Portfolio
10.7.5. Recent Developments
10.7.6. SWOT Analysis
10.8. Lotus Quality Assurance
10.8.1. Business Overview
10.8.2. Company Snapshot
10.8.3. Company Market Share Analysis
10.8.4. Company Product Portfolio
10.8.5. Recent Developments
10.8.6. SWOT Analysis
10.9. Playment Inc
10.9.1. Business Overview
10.9.2. Company Snapshot
10.9.3. Company Market Share Analysis
10.9.4. Company Product Portfolio
10.9.5. Recent Developments
10.9.6. SWOT Analysis
10.10. Tagtog Sp. z o.o
10.10.1. Business Overview
10.10.2. Company Snapshot
10.10.3. Company Market Share Analysis
10.10.4. Company Product Portfolio
10.10.5. Recent Developments
10.10.6. SWOT Analysis
10.11. CloudFactory Limited
10.11.1. Business Overview
10.11.2. Company Snapshot
10.11.3. Company Market Share Analysis
10.11.4. Company Product Portfolio
10.11.5. Recent Developments
10.11.6. SWOT Analysis
10.12. ClickWorker GmbH
10.12.1. Business Overview
10.12.2. Company Snapshot
10.12.3. Company Market Share Analysis
10.12.4. Company Product Portfolio
10.12.5. Recent Developments
10.12.6. SWOT Analysis
10.13. Alegion
10.13.1. Business Overview
10.13.2. Company Snapshot
10.13.3. Company Market Share Analysis
10.13.4. Company Product Portfolio
10.13.5. Recent Developments
10.13.6. SWOT Analysis
10.14. Figure Eight Inc.
10.14.1. Business Overview
10.14.2. Company Snapshot
10.14.3. Company Market Share Analysis
10.14.4. Company Product Portfolio
10.14.5. Recent Developments
10.14.6. SWOT Analysis
10.15. Amazon Mechanical Turk, Inc
10.15.1. Business Overview
10.15.2. Company Snapshot
10.15.3. Company Market Share Analysis
10.15.4. Company Product Portfolio
10.15.5. Recent Developments
10.15.6. SWOT Analysis
10.16. Explosion AI GMbH
10.16.1. Business Overview
10.16.2. Company Snapshot
10.16.3. Company Market Share Analysis
10.16.4. Company Product Portfolio
10.16.5. Recent Developments
10.16.6. SWOT Analysis
10.17. Mighty AI, Inc.
10.17.1. Business Overview
10.17.2. Company Snapshot
10.17.3. Company Market Share Analysis
10.17.4. Company Product Portfolio
10.17.5. Recent Developments
10.17.6. SWOT Analysis
10.18. Trilldata Technologies Pvt Ltd
10.18.1. Business Overview
10.18.2. Company Snapshot
10.18.3. Company Market Share Analysis
10.18.4. Company Product Portfolio
10.18.5. Recent Developments
10.18.6. SWOT Analysis
10.19. Scale AI, Inc.
10.19.1. Business Overview
10.19.2. Company Snapshot
10.19.3. Company Market Share Analysis
10.19.4. Company Product Portfolio
10.19.5. Recent Developments
10.19.6. SWOT Analysis
10.20. Google LLC
10.20.1. Business Overview
10.20.2. Company Snapshot
10.20.3. Company Market Share Analysis
10.20.4. Company Product Portfolio
10.20.5. Recent Developments
10.20.6. SWOT Analysis
10.21. Lionbridge Technologies, Inc
10.21.1. Business Overview
10.21.2. Company Snapshot
10.21.3. Company Market Share Analysis
10.21.4. Company Product Portfolio
10.21.5. Recent Developments
10.21.6. SWOT Analysis
10.22. SuperAnnotate LLC
10.22.1. Business Overview
10.22.2. Company Snapshot
10.22.3. Company Market Share Analysis
10.22.4. Company Product Portfolio
10.22.5. Recent Developments
10.22.6. SWOT Analysis
List of Table
1. Global Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
2. Global Text, Data Annotation Tools Market, By Region, 2019-2032 (USD Million)
3. Global Image/Video, Data Annotation Tools Market, By Region, 2019-2032 (USD Million)
4. Global Audio, Data Annotation Tools Market, By Region, 2019-2032 (USD Million)
5. Global Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
6. Global IT & Telecommunication, Data Annotation Tools Market, By Region, 2019-2032 (USD Million)
7. Global Retail & E-commerce, Data Annotation Tools Market, By Region, 2019-2032 (USD Million)
8. Global BFSI, Data Annotation Tools Market, By Region, 2019-2032 (USD Million)
9. Global Healthcare, Data Annotation Tools Market, By Region, 2019-2032 (USD Million)
10. Global Government, Data Annotation Tools Market, By Region, 2019-2032 (USD Million)
11. Global Automotive, Data Annotation Tools Market, By Region, 2019-2032 (USD Million)
12. Global Others, Data Annotation Tools Market, By Region, 2019-2032 (USD Million)
13. North America Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
14. North America Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
15. U.S. Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
16. U.S. Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
17. Canada Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
18. Canada Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
19. Mexico Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
20. Mexico Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
21. Europe Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
22. Europe Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
23. Germany Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
24. Germany Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
25. France Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
26. France Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
27. U.K. Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
28. U.K. Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
29. Italy Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
30. Italy Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
31. Spain Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
32. Spain Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
33. Asia Pacific Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
34. Asia Pacific Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
35. Japan Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
36. Japan Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
37. China Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
38. China Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
39. India Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
40. India Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
41. South America Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
42. South America Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
43. Brazil Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
44. Brazil Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
45. Middle East and Africa Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
46. Middle East and Africa Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
47. UAE Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
48. UAE Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
49. South Africa Data Annotation Tools Market, By Type, 2019-2032 (USD Million)
50. South Africa Data Annotation Tools Market, By Application, 2019-2032 (USD Million)
List of Figures
1. Global Data Annotation Tools Market Segmentation
2. Global Data Annotation Tools Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Data Annotation Tools Market Attractiveness Analysis by Type
9. Global Data Annotation Tools Market Attractiveness Analysis by Application
10. Global Data Annotation Tools Market Attractiveness Analysis by Region
11. Global Data Annotation Tools Market: Dynamics
12. Global Data Annotation Tools Market Share by Type (2023 & 2032)
13. Global Data Annotation Tools Market Share by Application (2023 & 2032)
14. Global Data Annotation Tools Market Share by Regions (2023 & 2032)
15. Global Data Annotation Tools Market Share by Company (2022)
This study forecasts global, regional, and country revenue from 2019 to 2032. The Brainy Insights has segmented the global data annotation tools market based on the below-mentioned segments:
Global Data Annotation Tools Market By Type:
Global Data Annotation Tools Market By Application:
Global Data Annotation Tools Market By Region:
Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision.
Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.
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Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:
The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.
The data procurement stage involves in data gathering and collecting through various data sources.
This stage involves in extensive research. These data sources includes:
Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:
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Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.
The supply side for a domain specific market is analysed by:
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In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.
Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:
Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:
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This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.
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