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Data Annotation Tool Trends and Forecast
The future of the global data annotation tool market looks promising with opportunities in the IT, automotive, government, healthcare, financial service, and retail sectors. The global data annotation tool market is expected to reach an estimated $3.3 billion by 2030 with a CAGR of 23.4% from 2024 to 2030. The major drivers for this market are increasing applications of artificial intelligence and machine learning technologies among industries and growing adoption of autonomous vehicles.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Data Annotation Tool by Segment
The study includes a forecast for the global data annotation tool by type, annotation type, end use, and region.
Data Annotation Tool Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Text
• Image/Video
• Audio
Data Annotation Tool Market by Annotation Type [Shipment Analysis by Value from 2018 to 2030]:
• Manual
• Semi-Supervised
• Automatic
Data Annotation Tool Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• IT
• Automotive
• Government
• Healthcare
• Financial Services
• Retail
• Others
Data Annotation Tool Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Data Annotation Tool Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies data annotation tool companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the data annotation tool companies profiled in this report include-
• Annotate
• Appen
• CloudApp
• Cogito Tech
• Deep Systems
• Labelbox
• Playment
Data Annotation Tool Market Insights
Lucintel forecasts that image/video will remain the largest segment over the forecast period due to its substantial applications in the automotive, retail, and healthcare sectors.
Within this market, healthcare is expected to witness the highest growth due to rising use of data annotation tool in this sector for variety of applications, such as treatment planning, diagnostic automation, drug development and genesequencing.
North America will remain the largest region over the forecast period due to rising availability of affordable annotation tools and presence of key players in the region.
Features of the Global Data Annotation Tool Market
Market Size Estimates: Data annotation tool market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Data annotation tool market size by type, annotation type, end use, and region in terms of value ($B).
Regional Analysis: Data annotation tool market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, annotation types, end uses, and regions for the data annotation tool market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the data annotation tool market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the data annotation tool market size?
Answer: The global data annotation tool market is expected to reach an estimated $3.3 billion by 2030.
Q2. What is the growth forecast for data annotation tool market?
Answer: The global data annotation tool market is expected to grow with a CAGR of 23.4% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the data annotation tool market?
Answer: The major drivers for this market are increasing applications of artificial intelligence and machine learning technologies among industries and growing adoption of autonomous vehicles.
Q4. What are the major segments for data annotation tool market?
Answer: The future of the data annotation tool market looks promising with opportunities in the IT, automotive, government, healthcare, financial service, and retail sectors.
Q5. Who are the key data annotation tool market companies?
Answer: Some of the key data annotation tool companies are as follows:
• Annotate
• Appen
• CloudApp
• Cogito Tech
• Deep Systems
• Labelbox
• Playment
Q6. Which data annotation tool market segment will be the largest in future?
Answer: Lucintel forecasts that image/video will remain the largest segment over the forecast period due to its substantial applications in the automotive, retail, and healthcare sectors.
Q7. In data annotation tool market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to rising availability of affordable annotation tools and presence of key players in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the data annotation tool market by type (text, image/video, and audio), annotation type (manual, semi-supervised, and automatic), end use (it, automotive, government, healthcare, financial services, retail, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Data Annotation Tool Market, Data Annotation Tool Market Size, Data Annotation Tool Market Growth, Data Annotation Tool Market Analysis, Data Annotation Tool Market Report, Data Annotation Tool Market Share, Data Annotation Tool Market Trends, Data Annotation Tool Market Forecast, Data Annotation Tool Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Data Annotation Tool Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Data Annotation Tool Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Data Annotation Tool Market by Type
3.3.1: Text
3.3.2: Image/Video
3.3.3: Audio
3.4: Global Data Annotation Tool Market by Annotation Type
3.4.1: Manual
3.4.2: Semi-supervised
3.4.3: Automatic
3.5: Global Data Annotation Tool Market by End Use
3.5.1: IT
3.5.2: Automotive
3.5.3: Government
3.5.4: Healthcare
3.5.5: Financial Services
3.5.6: Retail
3.5.7: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Data Annotation Tool Market by Region
4.2: North American Data Annotation Tool Market
4.2.2: North American Data Annotation Tool Market by End Use: IT, Automotive, Government, Healthcare, Financial Services, Retail, and Others
4.3: European Data Annotation Tool Market
4.3.1: European Data Annotation Tool Market by Type: Text, Image/Video, and Audio
4.3.2: European Data Annotation Tool Market by End Use: IT, Automotive, Government, Healthcare, Financial Services, Retail, and Others
4.4: APAC Data Annotation Tool Market
4.4.1: APAC Data Annotation Tool Market by Type: Text, Image/Video, and Audio
4.4.2: APAC Data Annotation Tool Market by End Use: IT, Automotive, Government, Healthcare, Financial Services, Retail, and Others
4.5: ROW Data Annotation Tool Market
4.5.1: ROW Data Annotation Tool Market by Type: Text, Image/Video, and Audio
4.5.2: ROW Data Annotation Tool Market by End Use: IT, Automotive, Government, Healthcare, Financial Services, Retail, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Data Annotation Tool Market by Type
6.1.2: Growth Opportunities for the Global Data Annotation Tool Market by Annotation Type
6.1.3: Growth Opportunities for the Global Data Annotation Tool Market by End Use
6.1.4: Growth Opportunities for the Global Data Annotation Tool Market by Region
6.2: Emerging Trends in the Global Data Annotation Tool Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Data Annotation Tool Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Data Annotation Tool Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Annotate
7.2: Appen
7.3: CloudApp
7.4: Cogito Tech
7.5: Deep Systems
7.6: Labelbox
7.7: Playment
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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