Data Annotation Tools Market Size, Share & Trends Analysis Report By Type (Text, Image/Video, Audio), By Annotation Type, By Vertical, By Region, And Segment Forecasts, 2022 - 2030

Data Annotation Tools Market Size, Share & Trends Analysis Report By Type (Text, Image/Video, Audio), By Annotation Type, By Vertical, By Region, And Segment Forecasts, 2022 - 2030

Data Annotation Tools Market Growth & Trends

The global data annotation tools market size is expected to reach USD 5,331 million by 2030, exhibiting a CAGR of 26.6%, according to a new report by Grand View Research, Inc. The advent of big data is expected to drive the growth of the artificial intelligence market as a large volume of data is required to be recorded, stored, and analyzed. The adoption of artificial intelligence is expected to significantly boost the demand for data annotation tools as the annotated data acts as a catalyzer to train AI models and machine learning systems in critical areas such as speech recognition and image recognition. These tools offer AI its strength by directly providing data that is relevant to determining future outcomes and decision-making.

Currently, there is a growing trend of manufacturing autonomous vehicles in the automotive industry, which is attracting larger investments for the development of these vehicles. An autonomous vehicle includes a combination of various sensors and networking systems that assist the computer in driving the vehicle. The annotated data allows autonomous vehicle computer models to recognize and learn from it. Several technology providers such as Google LLC; Tesla Motors; Apple Inc.; and Huawei Technologies Co., Ltd. have also entered the autonomous vehicle market. The rising investments in the self-driving market are expected to drive the future demand of the data annotation market. For instance, in February 2021, Appen Limited, a provider of effective training data and AI systems, announced the launch of new training data annotation and quality assurance services for autonomous vehicle manufacturers. The rising demand for self-drive cars is likely to supplement the demand for annotation tools.

Rising innovations in the retail segment, specifically in improving the e-commerce sector, using the data annotation tools is expected to drive the industry demand over the forecast period. For instance, in February 2019, Walmart Labs acquired Dataturks, an India-based data annotation start-up. Dataturks offers annotation tools for image and text data by using machine learning. The acquisition helped drive innovations in the catalog quality and other aspects of the Walmart merchandising platform.

Data Annotation Tools Market Report Highlights

  • Rising demand for machine learning in automated data analytics is expected to augment demand for automatic data annotation tools in various data-driven applications.In addition, rising focus on image annotation is anticipated to enhance the operations of automotive, retail, and healthcare sectors and thus is expected to propel the demand for data annotation tools.
  • In terms of annotation type, manual segment captured the largest revenue share in 2021.Attributes such as accuracy, ability to capture edge cases, and intelligent human resource are efficient enough to ensure high quality across large volumes of data. Which makes manual annotation tools highly suitable to train machine learning algorithms for computer vision applications.
  • Data annotation tools find greater acceptance in the automobile industry, especially for self-driving vehicles. High- resolution cameras, LIDAR sensors, and a huge amount of information is needed for creating the training data sets for such highly sensitive visual perception models in autonomous vehicles.
  • To gain a competitive edge in the market, players have started adopting the client base expansion strategy by raising funds for the development of their platform. For instance, in February 2020, Labelbox, Inc. raised a series B funding of around USD 25 million to enhance its platform with data labeling capabilities for AI training models. The funds were used to accelerate the computer vision and machine learning models by augmenting the size of the company's sales and engineering teams.
  • The vendors in Data Annotation tool market are also focusing on offering services to the existing players to increase their position against the market competitors. For instance, in 2021, Appen Limited announced to acquire Quadrant, a leading player in the market of mobile location data and its corresponding services.
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Chapter 1 Methodology and Scope
1.1 Research Methodology
1.1.1 Information Analysis
1.1.2 Market Formulation & Data Visualization
1.2 Research Scope and Assumptions
1.3 List of Data Sources
1.3.1 Secondary Sources
1.3.2 Primary Sources
Chapter 2 Executive Summary
2.1 Data Annotation Tools - Industry Snapshot & Key Buying Criteria
2.2 Global Data Annotation Tools Market
2.2.1 Global data annotation tools market, 2017 - 2030
2.2.2 Global data annotation data market, By region, 2017 - 2030
2.2.3 Global data annotation tools market, By type, , 2017 - 2030
2.2.4 Global annotation market, By annotation type, 2017 - 2030
2.2.5 Global data annotation tools market, by vertical, 2017 - 2030
Chapter 3 Data Annotation Tools Market Variables, Trends & Scope
3.1 Market Segmentation & Scope
3.2 Data Annotation Tools Market Penetration and Growth Prospects
3.3 Data Annotation Tools - Process Flow and Value Chain Analysis
3.4 Market Dynamics
3.4.1 MARKET DRIVERS
3.4.1.1 Growing need to make text/ image more interactive and engaging
3.4.1.2 Rapid penetration of AI and machine learning
3.4.1.3 Growing R&D spending on the development of self-driving vehicles
3.4.2 MARKET RESTRAINTS
3.4.2.1 Lack of skilled labor and high costs associated with manual annotation of complex images
3.5 Industry Analysis - Porter’s
3.5.1 Supplier Power
3.5.2 Buyer power
3.5.3 Substitution threat
3.5.4 Threat from new entrant
3.5.5 Competitive rivalry
3.6 Data Annotation Tools - PEST Analysis
3.6.1 Political
3.6.2 Economic
3.6.3 Social
3.6.4 Technological
3.7 Covid - 19 Impact Analysis
Chapter 4 Data Annotation Tools: Type Outlook
4.1 Data Annotation Tools Market Share by Type, 2021 & 2030
4.2 Text
4.2.1 Text data annotation market , By region, 2017 - 2030
4.3 Image
4.3.1 Image data annotation tools market, By region, 2017 - 2030
4.4 Others
4.4.1 Others data annotation tools market, By region, 2017 - 2030
Chapter 5 Data Annotation Tools: Annotation Type Outlook
5.1 Data Annotation Tools Market Share by Annotation Type, 2021 & 2030
5.2 Manual
5.2.1 Manual annotation tools market, By region, 2017 - 2030
5.3 Semi-supervised
5.3.1 Semi-supervised data annotation tools market, By region, 2017 - 2030
5.4 Automatic
5.4.1 Automatic data annotation tools market, By region, 2017 - 2030
Chapter 6 Data Annotation Tools: Vertical Outlook
6.1 Data Annotation Tools Market Share by Vertical, 2021 & 2030
6.2 IT
6.2.1 IT data annotation tools market, By region, 2017 - 2030
6.3 Automotive
6.3.1 Automotive data annotation tools market, By region, 2017 - 2030
6.4 Government
6.4.1 Government data annotation tools market, By region, 2017 - 2030
6.5 Healthcare
6.5.1 Healthcare data annotation tools market, By region, 2017 - 2030
6.6 Financial Services
6.6.1 Financal services data annotation tools market, By region,2017 - 2030
6.7 Retail
6.7.1 Retail data annotation tools market, By region, 2017 - 2030
6.8 Others
6.8.1 Others data annotation tools Market, By region, 2017 - 2030
Chapter 7 Data Annotation Tools: Regional Outlook
7.1 North America
7.1.1 North America data annotation tools market, By type, 2017 - 2030
7.1.2 North America data annotation tools market, By annotation type, 2017 - 2030
7.1.3 North America data annotation tools market, by vertical, 2017 - 2030
7.1.4 U.S.
7.1.4.1 U.S. Data Annotation Tools Market, By Type, 2017 - 2030
7.1.4.2 U.S. Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.1.4.3 U.S. Data Annotation Tools Market, By Vertical, 2017 - 2030
7.1.5 Canada
7.1.5.1 Canada Data Annotation Tools Market, By Type, 2017 - 2030
7.1.5.2 Canada Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.1.5.3 Canada Data Annotation Tools Market, By Vertical, 2017 - 2030
7.1.6 Mexico
7.1.6.1 Mexico Data Annotation Tools Market, By Type, 2017 - 2030
7.1.6.2 Mexico Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.1.6.3 Mexico Data Annotation Tools Market, By Vertical, 2017 - 2030
7.2 Europe
7.2.1 Europe data annotation tools market, By type, 2017 - 2030
7.2.2 Europe data annotation tools market, By annotation type, 2017 - 2030
7.2.3 Europe data annotation tools market, By vertical, 2017 - 2030
7.2.4 U.K.
7.2.4.1 U.K. Data Annotation Tools Market, By Type, 2017 - 2030
7.2.4.2 U.K. Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.2.4.3 U.K. Data Annotation Tools Market, By Vertical, 2017 - 2030
7.2.5 Germany
7.2.5.1 Germany Data Annotation Tools Market, By Type, 2017 - 2030
7.2.5.2 Germany Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.2.5.3 Germany Data Annotation Tools Market, By Vertical, 2017 - 2030
7.2.6 France
7.2.6.1 France Data Annotation Tools Market, By Type, 2017 - 2030
7.2.6.2 France Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.2.6.3 France Data Annotation Tools Market, By Vertical, 2017 - 2030
7.3 Asia Pacific
7.3.1 Asia Pacific data annotation tools market, By Type, 2017 - 2030
7.3.2 Asia Pacific data annotation tools market, By Annotation Type, 2017 - 2030
7.3.3 Asia Pacific data annotation tools market, By Vertical, 2017 - 2030
7.3.4 China
7.3.4.1 China Data Annotation Tools Market, By Type, 2017 - 2030
7.3.4.2 China Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.3.4.3 China Data Annotation Tools Market, By Vertical, 2017 - 2030
7.3.5 Japan
7.3.5.1 Japan Data Annotation Tools Market, By Type, 2017 - 2030
7.3.5.2 Japan Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.3.5.3 Japan Data Annotation Tools Market, By Vertical, 2017 - 2030
7.3.6 India
7.3.6.1 India Data Annotation Tools Market, By Type, 2017 - 2030
7.3.6.2 India Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.3.6.3 India Data Annotation Tools Market, By Vertical, 2017 - 2030
7.4 South America
7.4.1 South America data annotation tools market, By Type, 2017 - 2030
7.4.2 South America data annotation tools market, By Annotation Type, 2017 - 2030
7.4.3 South America data annotation market, By Vertical, 2017 - 2030
7.4.4 BRAZIL
7.4.4.1 Brazil Data Annotation Tools Market, By Type, 2017 - 2030
7.4.4.2 Brazil Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.4.4.3 Brazil Data Annotation Tools Market, By Vertical, 2017 - 2030
7.5 MEA
7.5.1 MEA Data Annotation Tools Market, By Type, 2017 - 2030
7.5.2 MEA Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.5.3 MEA Data Annotation Tools Market, By Vertical, 2017 - 2030
Chapter 8 Competitive Landscape
8.1 Company Profiles
8.1.1 ANNOTATE.COM
8.1.1.1 Company Overview
8.1.1.2 Product Benchmarking
8.1.2 APPEN LIMITED
8.1.2.1 Company Overview
8.1.2.2 Financial Performance
8.1.2.3 Product Benchmarking
8.1.2.4 Recent developments
8.1.3 CLOUDAPP
8.1.3.1 Company Overview
8.1.3.2 Product Benchmarking
8.1.4 COGITO TECH LLC
8.1.4.1 Company Overview
8.1.4.2 Product Benchmarking
8.1.5 DEEP SYSTEMS, LLC
8.1.5.1 Company Overview
8.1.5.2 Product Benchmarking
8.1.6 LABELBOX, INC
8.1.6.1 Company Overview
8.1.6.2 Financial Performance
8.1.6.3 Product Benchmarking
8.1.6.4 Recent developments
8.1.7 LIGHTTAG
8.1.7.1 Company Overview
8.1.7.2 Product Benchmarking
8.1.8 LOTUS QUALITY ASSURANCE
8.1.8.1 Company Overview
8.1.8.2 Product Benchmarking
8.1.9 PLAYMENT INC.
8.1.9.1 Company Overview
8.1.9.2 Product Benchmarking
8.1.10 TAGTOG SP. Z O.O.
8.1.10.1 Company Overview
8.1.10.2 Product Benchmarking
8.1.11 CLOUDFACTORY LIMITED
8.1.11.1 Company Overview
8.1.11.2 Financial Performance
8.1.11.3 Product Benchmarking
8.1.11.4 Recent developments
8.1.12 CLICKWORKER GMBH
8.1.12.1 Company Overview
8.1.12.2 Product Benchmarking
8.1.13 ALEGION
8.1.13.1 Company Overview
8.1.13.2 Product Benchmarking
8.1.13.3 Recent developments
8.1.14 FIGURE EIGHT INC.
8.1.14.1 Company Overview
8.1.14.2 Product Benchmarking
8.1.15 AMAZON MECHANICAL TURK, INC.
8.1.15.1 Company Overview
8.1.15.2 Product Benchmarking
8.1.15.3 Recent developments
8.1.16 EXPLOSION AI GMBH
8.1.16.1 Company Overview
8.1.16.2 Product Benchmarking
8.1.17 MIGHTY AI, INC.
8.1.17.1 Company Overview
8.1.17.2 Product Benchmarking
8.1.18 TRILLDATA TECHNOLOGIES PVT LTD
8.1.18.1 Company Overview
8.1.18.2 Product Benchmarking
8.1.19 SCALE AI, INC.
8.1.19.1 Company Overview
8.1.19.2 Product Benchmarking
8.1.19.3 Recent developments
8.1.20 GOOGLE LLC
8.1.20.1 Company Overview
8.1.20.2 Financial Performance
8.1.20.3 Product Benchmarking
8.1.21 LIONBRIDGE TECHNOLOGIES, INC.
8.1.21.1 Company Overview
8.1.21.2 Product Benchmarking
8.1.21.3 Recent developments
8.1.22 SUPERANNOTATE LLC
8.1.22.1 Company Overview
8.1.22.2 Product Benchmarking
8.1.22.3 Recent developments

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