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The global data annotation tools market is expected to exhibit a CAGR of 26.83% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
A data annotation tool is an on-premises, cloud-based, or containerized software solution that can be used for labeling production-grade training data for machine learning (ML). It is commonly available in manual, automated and semi-supervised annotation variants. A data annotation tool is generally designed with specific data types, including audio, spreadsheet, image, video, text, or sensor data, to be used in different deployment models, such as software as a service (SaaS), on-premises, container, and open-source systems. It includes searching, filtering, sorting, cloning, and merging datasets and aids in data quality control, workforce management, integrated labeling services and security.
One of the key factors driving the data annotation tool market growth is the increasing industrial need to improve ML models and the surge in the number of large datasets to necessitate the utilization of artificial intelligence (AI) in various facial recognition and detection technologies. Moreover, the increasing use of AI in the healthcare industry to identify injuries, sense patterns and assist medical practitioners in automatically generating reports is positively impacting the market growth. Additionally, the widespread adoption of data annotation tools in the automotive industry for developing advanced autonomous driving technologies and deploying self-driving mechanisms is favoring the market growth. Apart from this, the introduction of predictive and specialized data annotation tools for improving the accuracy of annotated images and videos and delivering high precision datasets for AI-based applications are providing an impetus to the market growth. In line with this, the data annotation tools enable users to add attribute tags or labels to products, thus enhancing the value of data. Other factors, including the extensive research and development (R&D) activities and the rising importance of high-quality and well-labeled input data for supporting ML algorithms, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global data annotation tools market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on data type, annotation type and end user.
Breakup by Data Type:
Breakup by Annotation Type:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alegion, Amazon Web Services Inc. (Amazon.com Inc.), Appen Limited, clickworker GmbH, CloudFactory Limited, Cogito Tech LLC, Labelbox Inc., Lionbridge Technologies LLC, Scale AI Inc., tagtog Sp. z o.o. and TELUS International (TELUS Corporation).
|Base Year of the Analysis||2021|
|Segment Coverage||Data Type, Annotation Type, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Alegion, Amazon Web Services Inc. (Amazon.com Inc.), Appen Limited, clickworker GmbH, CloudFactory Limited, Cogito Tech LLC, Labelbox Inc., Lionbridge Technologies LLC, Scale AI Inc., tagtog Sp. z o.o. and TELUS International (TELUS Corporation).|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
We expect the global data annotation tools market to exhibit a CAGR of 26.83% during 2022-2027.
The increasing integration of AI with data annotation tools across the healthcare industry to identify injuries, sense patterns, and assist medical practitioners in automatically generating reports, is primarily driving the global data annotation tools market.
The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of data annotation tools across numerous industry verticals for facial recognition and detection technologies through AI, to combat the spread of the coronavirus infection through conventional method, including fingerprint.
Based on the data type, the global data annotation tools market can be categorized into text, image/video, and audio. Currently, text accounts for the majority of the global market share.
Based on the annotation type, the global data annotation tools market has been segregated into manual, semi-supervised, and automatic. Among these, manual currently holds the largest market share.
Based on the end user, the global data annotation tools market can be bifurcated into BFSI, healthcare, government, automotive, IT and telecommunication, retail and e-commerce, and others. Currently, the IT and telecommunication sector exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global data annotation tools market include Alegion, Amazon Web Services Inc. (Amazon.com Inc.), Appen Limited, clickworker GmbH, CloudFactory Limited, Cogito Tech LLC, Labelbox Inc., Lionbridge Technologies LLC, Scale AI Inc., tagtog Sp. z o.o., and TELUS International (TELUS Corporation).
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