Wed. Jun 12th, 2024
Data Annotation Tools Market

The new report by Expert Market Research titled, ‘Global Data Annotation Tools Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global data annotation tools market, assessing the market based on its segments like type, technology, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2016-2026)

• Historical Market Size (2020): USD 321.45 Million
• Forecast CAGR (2021-2026): 27%

Increasing investments in the development of autonomous driving technologies, rising demand for annotated data to improve machine learning models, growing adoption of data annotation for medical imaging data, surging uptake of text annotation for document classification, and rising demand for annotated data to improve machine learning models.

Industry Definition and Major Segments

Data annotation is the method of labelling data for machine learning purposes.

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The industry can be broadly categorised based on types into:

• Text
• Image
• Video

Based on technology, the industry can be categorised as:

• Manual
• Semi-Supervised
• Automatic

The industry can be divided based on its application segments as:

• Automotive
• Healthcare
• Retail
• Government
• Transportation and Logistics

The global regions for data annotation tools market include:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Trends

Users can improve data quality by adding or marking attribute tags with data annotation tools. The main advantage of employing these tools is that the combination of data features allows users to manage data interpretation in a single area, eliminating the need to rewrite similar rules in numerous locations. The rise of big data and the amount of enormous datasets will almost certainly need the application of artificial intelligence in the field of data annotation. As the reach of data labelling expands, companies creating AI-enabled healthcare apps are cooperating with data annotation companies to supply the essential data sets to help them enhance their machine learning and deep learning skills, boosting the market for data annotation solutions.

Key Market Players

The major players in the market are, Appen Limited, CloudApp, Cogito Tech LLC, Deep Systems, Labelbox, Inc, LightTag, Lotus Quality Assurance, Playment Inc., Tagtog Sp. z o.o., D-Link and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

Media Contact

Company Name: Claight Corporation
Contact Person: Anisha Luccas, Business Consultant
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA

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