Global Data Annotation Tools Market to Grow at 21.8% During 2024-2032, Impelled by Increasing Need to Improve ML Models

September 06, 2022 | Technology & Media

According to the latest report by IMARC Group, titled “Data Annotation Tools Market Report by Data Type (Text, Image/Video, Audio), Annotation Type (Manual, Semi-supervised, Automatic), End User (BFSI, Healthcare, Government, Automotive, IT and Telecommunication, Retail and E-Commerce, and Others), and Region 2024-2032," the global data annotation tools market is expected to grow at a CAGR of 21.8% during 2024-2032. Data annotation tools are cloud-based, on-premises, or containerized software-based solutions designed for labeling production-grade training data for machine learning (ML). They are generally designed with an explicit set of data types, such as spreadsheet, audio, video, text, image, and sensor data, that are used in different deployment models, including software as a service (SaaS), on-premises, container, and open-source systems. The data annotation includes sorting, cloning, filtering, and searching datasets that help enhance user experience, integrate labeling services and security, and improve precision.


Global Data Annotation Tools Market Trends:

The significant growth in the automotive industry across the globe is creating a positive outlook for the market. Data annotation tools are widely used to develop advanced autonomous driving technologies and deploy self-driving mechanisms, such as detecting vehicles, objects, and road signs and recognizing surroundings. Additionally, the increasing industrial need to improve machine learning (ML) models and the widespread utilization of artificial intelligence (AI) in various facial recognition and detection technologies are favoring the market growth. Apart from this, the development of specialized and predictive data annotation tools that enhance the accuracy of annotated videos and images and deliver high-precision datasets for AI-based applications are providing a thrust to the market growth. Furthermore, the widespread adoption of AI in the healthcare industry for increasing efficiency, sensing patterns, identifying injuries, and helping in automatically generating reports is acting as another growth-inducing factor. Besides this, the growing necessity of high-quality, well-labeled input data for improving the accuracy of ML algorithms, extensive research and development (R&D) activities, and increasing adoption of big data analytics to speed up data collecting and assimilation processes are supporting the market growth.


Market Summary:

  • On the basis of the data type, the market has been classified into text, image or video, and audio.
  • Based on the annotation type, the market has been divided into manual, semi-supervised, and automatic.
  • On the basis of the end user, the market has been classified into BFSI, healthcare, government, automotive, IT and telecommunication, retail and e-commerce, and others.
  • On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others) Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the industry has also been examined, with some 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).

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
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$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
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)


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group

USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter : @imarcglobal

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Data Annotation Tools Market to Grow at 21.8% During 2024-2032, Impelled by Increasing Need to Improve ML Models
Purchase Options Year End sale




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARATI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More
DEinternational Egypt

IMARC did an outstanding job in preparing our study. They were punctual and precise, delivering all the data we required in a clear and well-organized format. Their attention to detail and ability to meet deadlines was impressive, making them a reliable partner for our project.

Read More
Gulf Excellent Group

I wanted to express my sincere appreciation for your efforts in handling this matter. Your dedication and commitment have truly been commendable. It is evident that you have put in a tremendous amount of hard work and expertise into resolving the issues at hand. I would also like to take this opportunity to inform you that we are greatly interested

Read More
FS Corporation Inc.

Overall, the deliverable was well organized and my experience with the project team was good. In particular, I appreciated how they responded when I requested additional information and the Japanese version.

Read More
Egyptian Industrial Investment Group

The IMARC team were extremely professional and very cooperative. The team were also extremely flexible in making changes and modifications wherever required. The entire experience right from project kick-off to after sales support was fruitful and smooth.

Read More
Vishnu Chemicals

I’d like to express my gratitude for the work you accomplished with the industry report. The way you responded to the requirements and delivered under tight timelines shows your expertise, exceptional work ethic and commitment to your customer’s success. The entire team and company are incredibly thankful for your dedication. Once again, thank you

Read More
MOUNT EVEREST BREWERIES LIMITED

The market reports from IMARC have been instrumental in guiding our business strategies. We found the reports comprehensive and data-driven, which helped us make informed decisions. The detailed insights and actionable data have consistently provided us with a competitive edge in a rapidly changing alcohol market.

Read More
Borges Branded Foods

One of the best things about IMARC is their flexibility and predisposition to tailor the reports and adapt to our needs. They are not just great in their researching and consulting solutions, but their service is unparallelled. We’ve worked with them a couple of times and we will keep working with them in future projects.

Read More
Godrej Consumer Products Limited

We recently commissioned multiple market research reports from IMARC, and the insights we received were invaluable. The depth of analysis, accuracy of data, and actionable recommendations have greatly enhanced our strategic decision-making.

Read More
ADC Therapeutics

The market estimates provided by your team were pretty much in line with what we were theorizing internally. Really appreciate the work on this.

Read More
Ivanti

The sale account manager and the service was excellent. The data and market trends gathered from the report was insightful and really assisted while planning future product and growth strategies.

Read More
Asiatic Electrical & Switchgear P. Ltd.

The report is excellent and has good amount of data and our team is extremely happy with the information provided.

Read More
Denka Co., Ltd.

Thank you very much for your cooperation and post purchase support. We were really happy with the final deliverable, and the takeaways from the report.

Read More