Data Annotation & Labeling Market by Data Type (Audio, Image, Text), Annotation Type (Automatic, Manual, Semi-automatic), Deployment, Application, Vertical - Global Forecast 2024-2030

Data Annotation & Labeling Market by Data Type (Audio, Image, Text), Annotation Type (Automatic, Manual, Semi-automatic), Deployment, Application, Vertical - Global Forecast 2024-2030

The Data Annotation & Labeling Market size was estimated at USD 2.22 billion in 2023 and expected to reach USD 2.64 billion in 2024, at a CAGR 19.54% to reach USD 7.76 billion by 2030.

Data annotation & labeling uses computer vision to capture the object in a picture and make it recognizable by machines. It is used to train AI models using deep learning techniques and to understand and perceive patterns represented through annotation. It helps machines to learn certain patterns, compare the findings, and recognize and anticipate future trends of utilized data sets. Increasing adoption of data annotation & labeling systems from healthcare facilities is observed due to the rising need to deliver accurate medical results and identify medical imaging data to train computer vision which improves diagnostics services. In addition, the surge in the usage of data annotation & labeling is observed in the eCommerce space owing to increasing requirements for inventory management, product recommendation, and creating satisfactory online shopping experiences. However, inaccurate results provided by data annotation tools may limit their use in various industries. Moreover, the growing technological advancement in data annotation & labeling, such as the integration of artificial intelligence, which helps provide translation services, smart text search, and shopping options to consumers, is expected to accelerate high adoption from various industries.

Regional Insights

The data annotation & labeling market shows a highly evolving landscape in the Americas owing to the highly established industrial sector and increasing application of data annotation & labeling in various industries, including government & BFSI, healthcare & life science, and telecommunication, among others. The government of Canada, Scale AI, invested approximately USD 25 million to support AI projects, including data labeling services in key areas such as manufacturing and retail to make more efficient decisions in businesses. These initiatives aim to promote the development of high-quality data annotation & labeling services in the Americas region. In the APAC region, Singapore's Infocomm Media Development Authority (IMDA) launched the Data Collaboratives Programme, which aims to facilitate partnerships between companies to co-create and share data sets for various use cases, including data labeling. In the European region, the market players are investing to introduce new labeling platforms, including natural language processing (NLP) and computer vision that helps SMEs to make better decisions in their business is expected to create widespread adoption of data annotation tools from end users.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Data Annotation & Labeling Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Data Annotation & Labeling Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Data Annotation & Labeling Market, highlighting leading vendors and their innovative profiles. These include Adobe Inc., AI Data Innovation, AI Touch LLP, Alegion Inc., Amazon Web Services, Inc., Anolytics, Appen Ltd., Atexto, LLC, Cape Start Inc., Capgemini SE, Clarifai, Inc., Clickworker GmbH, Cloud Factory Limited, Cogito Tech LLC, Data Pure, Dataloop Ltd., Datarade GmbH, Datasur Inc., Deepen AI, Inc., Defined Crowd Corporation, Fidel Softech Ltd., Flatworld Solutions Pvt. Ltd., Google LLC, Hitech Digital Solutions LLP, iMerit, International Business Machines Corporation, John Snow Labs Inc., Keylabs.ai Ltd., Kili Technology SAS, Labelbox, Inc., LightTag Inc., Netscribes, Oracle Corporation, Precise BPO Solution, RWS Holdings PLC, Samasource Impact Sourcing, Inc., Scale AI, Inc., Segment.ai, Shaip, Steldia Services Ltd., Straive, SunTec.AI, SuperAnnotate AI, Inc., SupportYourApp, Inc., TELUS International, TransPerfect Global, Inc., UnderstandAI GmbH, V7 Ltd., and Wovenware, Inc..

Market Segmentation & Coverage

This research report categorizes the Data Annotation & Labeling Market to forecast the revenues and analyze trends in each of the following sub-markets:

Data Type
Audio

Image

Text

Video
Annotation Type
Automatic

Manual

Semi-automatic
Deployment
On-Cloud

On-Premise
Application
Catalogue Management

Content Management

Data Quality Control

Data Set Management

Security & Compliance

Workforce Management
Vertical
Government & BFSI

Healthcare & Life Science

Manufacturing

Retail & Consumer Goods

Telecommunication
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas

Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam

Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Data Annotation & Labeling Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Data Annotation & Labeling Market?
3. What are the technology trends and regulatory frameworks in the Data Annotation & Labeling Market?
4. What is the market share of the leading vendors in the Data Annotation & Labeling Market?
5. Which modes and strategic moves are suitable for entering the Data Annotation & Labeling Market?PDF E-mail From Publisher (2-5)Users License