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Global u201cData Annotation Tools Marketu201d report offers an overview of the market trends, drivers, and barriers with respect to the Data Annotation Tools Market. It also provides a comprehensive overview of the market of different regions across United States, Europe, China, Japan, India, Southeast Asia and Others.
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Data Annotation Tools Market Demand, Global Overview, Size, Value Analysis, Leading Players Review and Forecast to 2027 Data Annotation Tools Market Report provides in-depth analysis of industry by production, share, size, Demand, Proposition, Development, Opportunities, Growth, Economic Trends, Technologies Research, Segmentation, Key Futuristic, Investment Feasibility, Major Key Players, SWOT analysis and Forecast. The global Data Annotation Tools Market size is projected to reach USD 2.57 billion by 2027, according to Million Insights. 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. 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. Browse Full Research Report @ https://www.millioninsights.com/industry-reports/global-data-annotation-tools-market
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. Request Sample Copy of this Market Research @ https://www.millioninsights.com/industry-reports/global-data-annotation-tools-market/request- sample 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 • 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 Table Of Contents
1Data Annotation Tools Overview 2Global Data Annotation Tools Application Estimates & Trend Analysis 3Global Data Annotation Tools Size and Growth Prospects 4Global Data Annotation Tools Analysis by Region 5Global Data Annotation Tools Analysis by Type 6Global Data Annotation Tools Analysis by Application 7Global Data Annotation Tools Manufacturers Analysis 8Global Data Annotation Tools Technology and Development Trends Browse Full Research Report @ https://www.millioninsights.com/industry-reports/global-data-annotation-tools-market Get in touch At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions. Contact Person: Ryan Manuel Research Support Specialist, USA Email: ryan@millioninsights.com Global Headquarters Million Insights Felton Office Plaza 6265 Highway 9 Felton, California 95018, United States Phone: 1-408-610-2300 Email: sales@millioninsights.com Asia Pacific Million Insights Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar, Pune, MH, 411016 India Phone: 91-20-65300184
