The Global data annotation market was valued at US$ 320.0 Million in 2018 and is expected to reach US$ 1,820 Million by the year 2026, growing at a CAGR of ~24.5% during the forecast period. Increasing investments in research & development for autonomous vehicles are also contributes significantly to the growth of the market. Data annotation tools are playing an important role for the enhancement of AI applications in medical imaging technologies. The increasing demand for mining meaningful patterns from huge chunk of data is also accentuating the growth of data annotation tools market growth.
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Data annotation tools provide users for improving the data value by labeling & adding data attributes into it. Different combination of data characteristics helps the end-users for managing the data definition at a centralized location and eliminating the duplicity of rewriting similar standards in multiple places.
Data annotation tools are majorly used to identify patterns and sense the possible injuries in computer on. These functionalities will help a healthcare personal to automatic generation of reports after observing any patient symptoms. This also helps in accurate annotation for enhancing machine learning capabilities. The data annotation tools are used across most of the industries. This technology is also used in medical & healthcare applications like gene sequencing, and drug development.
Data annotation tools market is highly competitive in nature with major players including Amazon Mechanical Turk, Inc., Alegion, Annotate, Appen Limited, Clickworker GmbH, CloudApp, CloudFactory Limited, Cogito, iMerit, Innodata and Playment Inc. Some of the recent developments in this market are Alegion (USA) provider of labeling and annotation services for enterprise data science teams (USA), has secured $12 million in series A funding contributed by RHS Investments.
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Report Scope:
The Global Data Annotation Tools report scope covers the in-depth business analysis considering major market dynamics, forecast parameters, and price trends for the industry growth. The report forecasts market sizing at global, regional and country levels, providing comprehensive outlook of industry trends in each market segments and sub-segments from 2018 to 2025. The market segmentations include
Global Data Annotation Tools, By Type
• Supervised
• Semi-supervised
• Unsupervised
Global Data Annotation Tools Market, By Data Form
• Introduction
• Text
• Image
• Video
• Others (Speech)
Global Data Annotation Tools, By Application
• BFSI
• IT& Telecom
• Automotive
• Healthcare
• Retail
• Others
Global Data Annotation Tools, By Region
• North America
• Europe
• Asia-Pacific
• Rest of the World
The report scope also includes competitive landscape covering the competitive analysis, strategy analysis and company profiles of the major market players. The companies profiled in the report include Amazon Mechanical Turk, Inc., Alegion, Annotate, Appen Limited, Clickworker GmbH, CloudApp, CloudFactory Limited, Cogito, iMerit, Innodata and Playment Inc.
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