Demand for Data Collection and Labelling Market to Grow at a 7x by 2030

Implementation of data labelling and analytics in healthcare will continue to drive the demand for data collection and labelling. Penetration of artificial intelligence (AI), internet of things (IoT), and machine learning (ML) warrants the deployment of advanced data collection and labelling products and services. The global data collection and labelling market exhibits a meteoric 17% CAGR during the forecast period (2020 – 2030). Digitization across industries and countries lays a fertile ground for growth of data collection and labelling organizations. Video surveillance, facial recognition, and password privacy are a few end-uses that drive the data collection and labelling market on a skyrocketing growth trajectory. For detailed insights on enhancing your product footprint, request for a sample here- https://www.factmr.com/connectus/sample?flag=S&rep_id=4726 Key Takeaways of Data Collection and Labelling Market Study

• Image/video data types used for facial recognition and consumer sentimental analysis gives this segment a stronghold with over 35% of total market value share.
• Audio data collection and labelling for voice assistance, and speech recognition positions this segment having the highest growth potential by data type. Audio segment exhibits a stellar 19% CAGR through 2030.
• IT applications of data collection and labelling in big data analysis for various end-uses such as financial lending, and digital security drive the demand from this vertical. IT accounts for more than 36% of the total market value share.
• Increasing digitization of retail customer experience coupled with parallel surge in e-commerce adoption makes this vertical a high growth potential segment. Retail & e-commerce segment will grow at a stupendous 20% CAGR through 2030.

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• North America leads global sales with over 32% of the total market value share. Increasing expenditure in healthcare services propels the demand for data collection and labelling of patient records and medical treatment procedures.
• South Asia & Oceania will offer the most remunerative growth opportunities with an astonishing 20% CAGR through 2030. Adoption of data driven services in the public and private sector will continue to drive demand for data collection and labelling.

Global Data Collection and Labelling Market: In-Depth Assessment on Key Segments The global data collection and labelling market is segmented on the basis of data type, vertical, and region. Data Type

• Text
• Image/Video
• Audio

Vertical

• IT
• Automotive
• Government
• Healthcare
• BFSI
• Retail & E-commerce
• Others

Healthcare Expenditure amid COVID-19 will Drive Profits Medical imaging that employs computer vision and sensors to diagnose and depict internal functioning of the body warrant enhanced data collection and labelling services. Coupled with ubiquitous government investments, this will drive the demand for data collection and labelling products and services. Global concerns about the COVID-19 pandemic will significantly increase demand through 2030. Patients with underlying health conditions and weak respiratory systems are at greater risk of getting infected with coronavirus. For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/4726 The resultant need for medical imaging and remote diagnosis will further the demand for data collection and labelling products and services. Market players stand a chance to garner profitable revenues by research and development of advanced data collection and labelling tools. Analysts expect increased demand for high performance and big-data collection and labelling during post pandemic normalization. Organizations across the world have realized the benefits of digital transformation from the work-from-home induced by COVID-19. Hence, data collection and labelling will witness a lackluster rise in demand which is still better than manufacturing industry growth rates. Large enterprises that depend on conventional operations will drive revenues for data collection and labelling as these giants look to mitigate losses and plan ahead for a speedy recovery of business operations. Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2020/03/09/1997228/0/en/MEMS-Sensor-Market-to-Reach-US-50-Bn-in-2027-Heightening-Prospects-of-Smart-Devices-and-EVs-Favor-Growth-Concludes-Fact-MR-in-a-New-Study.html About Us: Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner. Contact: US Sales Office: 11140 Rockville Pike Suite 400 Rockville, MD 20852 United States Tel: +1 (628) 251-1583 Corporate Headquarter: Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A, Jumeirah Lakes Towers, Dubai, United Arab Emirates Email: sales@factmr.com Visit Our Website: https://www.factmr.com