Data Annotation Tools Market Is Developing Rapidly Worth $2.57 Billion By 2027

1. Data Annotation Tools Market Is Developing Rapidly Worth $2.57 Billion By 2027 “The global data annotation tools market size is projected to reach USD 2.57 billion by 2027. The market is expected to grow with a 26.9% CAGR above the forecast period, from 2020 to 2027.” The report on the Data Annotation Tools market report includes future industry Trends, Size, Share, Past, current data and deep analysis, and forecast. This market offers a coordinated and orderly methodology for the most important aspects that have influenced the market within the past and also the forthcoming market prospects on which the organizations can rely upon before investing. It furnishes with an affordable examination of the marketplace for better decision-making and assessment to place resources into it. The report analyses the weather and an entire detailed outlook of the most players that are likely to feature to the demand within the global Data Annotation Tools market within the upcoming years. The market study additionally gives a to-the-point evaluation of the techniques and plans of action that are being executed by the manufacturers and firms to contribute to Data Annotation Tools market growth. A number of the foremost conspicuous measures taken by the organizations are partnerships, mergers & acquisitions, and collaborations to increase their overall reach. The key players are likewise presenting newer product varieties within the market to enhance the merchandise portfolio by embracing the new innovation and completing it in their enterprise. The global data annotation tools market size is projected to reach USD 2.57 billion by 2027. The market is expected to grow with a 26.9% CAGR above the forecast period, from 2020 to 2027. The advent of big data is anticipated to surge the Artificial Intelligence (AI) market growth due to huge amount of information is required to be stored, analyzed and recorded. Thus, significant growth of AI market is projected to boost the growth of this market over the forecast period. Data annotation tools act as a catalyzer to train machine learning tools and AI models in critical areas like image recognition and speech recognition. Therefore, these tools give strength to AI model in order to help for decision- making and determine future outcomes. Sample Copy of This Market Research @ https://www.millioninsights.com/industry-reports/global-data-annotation-tools-market/request-sample

2. In automotive industry, increasing trend of developing autonomous vehicles is encouraging for high investments of these vehicles. The autonomous vehicles are combination of various networking systems and sensors that helps computer to drive vehicle. The annotated data enables autonomous vehicle’s computer systems to identify and learn from it. Various technology providers including Tesla Motors; Huawei Technologies Co., Ltd. Apple Inc.; and Google Inc. have entered in autonomous vehicle market. This, growing investment in self-driving cars market is projected to boost the demand for data annotation tools. Rising investments in the self-driving cars market are expected to drive the demand for data annotation tools. Moreover, growth of retail industry, especially development in e-commerce sector will propel the market growth. For example, in 2019, an India-based start-up, Dataturks that offers tools for text and image by using machine learning acquired by Walmart. This acquisition helped Walmart to further innovate catalogue quality and other facilities of Walmart merchandising portal. The data annotation tool market is projected to witness substantial growth during the forecast period due increasing investment and several strategies such as merger and acquisition are implemented by companies. Companies are implementing client-base expansion strategy by investing funds for data annotation platform development to sustain competitive market. For example, in 2018, Hiveraised funds worth USD 30 million from PayPalfounder Peter Thiel’s Founders Fund. Browse Full Research Report @ https://www.millioninsights.com/industry-reports/global-data-annotation-tools-market Further key findings from the report suggest: • On the basis of types, the image/video segment is projected to register significant growth rate in near future due to technological advancement in automotive sector, especially development of self-driving cars

3. • The manual annotation type segment accounted for the largest market share and expected to lead its position over the forecast period. • In 2019, North America held the largest market share of more than 38%of the global revenue. • Major players operating in this market are Cogito Tech LLC; Lotus Quality Assurance; Annotate.com; Tagtog Sp. z o.o; Appen Limited; CloudApp; Deep Systems; Labelbox, Inc.; PlaymentInc; LightTag; CloudFactory Limited; Clickworker GmbH; Alegion; Figure Eight IncTrilldata Technologies Pvt. Ltd. (Data Turks); Scale, Inc.; Explosion AI; Google, LLC,; Amazon Mechanical Turk, Inc.; and Mighty AI, Inc. Million Insights has segmented the global data annotation tools market on the basis of type, annotation type, vertical, and region: Data Annotation Tools Type Outlook (Revenue, USD Million, 2016 - 2027) • Text • Image/Video • Audio Data Annotation Tools Annotation Type Outlook (Revenue, USD Million, 2016 - 2027) • Manual • Semi-supervised • Automatic Data Annotation Tools Vertical Outlook (Revenue, USD Million, 2016 - 2027) • IT • Automotive • Government • Healthcare • Financial Services • Retail • Others

4. Data Annotation Tools Regional Outlook (Revenue, USD Million, 2016 - 2027) • North America • U.S. • Canada • Mexico • Europe • U.K. • Germany • France • Asia Pacific • China • Japan • India • South America • Brazil • Middle East & Africa Table of Contents:- Chapter 1 Methodology and Scope Chapter 2 Executive Summary Chapter 3 Data Annotation Tools: Market Variables, Trends & Scope Chapter 4 Data Annotation Tools: Product Estimates & Trend Analysis Chapter 5 Data Annotation Tools: Application Estimates & Trend Analysis Chapter 6 Data Annotation Tools: End-use Estimates & Trend Analysis Chapter 7 Data Annotation Tools: Industrial End-use Estimates & Trend Analysis Chapter 8 Data Annotation Tools: Regional Estimates & Trend Analysis Chapter 9 Competitive Landscape Chapter 10 Data Annotation Tools: Manufacturers Company Profiles See More Reports of this Category by Million Insights @ https://www.millioninsights.com/industry/computing-and-technology

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