Data Annotation Tools Market: Increased Usage in Machine Learning to Boost the Market – Fact.MR Study

ICT companies are extensively adopting technologies such as cloud computing and artificial intelligence to ensure seamless operations as teams continue working from home. Focus on fast automation, use of real-time operation within various end-use sectors such as automotive, food & beverage and others will provide stimulus to the growth.

The report offers actionable and valuable market insights of Data Annotation Tool. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Data Annotation Tool Market across various industries and regions.

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The global data annotation tools market is anticipated to expand at a CAGR of 15.1% during the forecast period from 2022-2032. The market is expected to be valued at US$ 1.3 Bn by 2022-end, and is expected to reach US$ 5.3 Bn by 2032.

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Data Annotation Tool market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Data Annotation Tool

This newly published and insightful report sheds light on Market Insights of Data Annotation Tool, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Data Annotation Tool Market.

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Global Data Annotation Tool Market: In-Depth Assessment on Key Segments

The global data annotation tool market is segmented on the basis of data type, annotation type, vertical, and region.

Data Type

• Text
• Image/Video
• Audio

Annotation Type

• Manual
• Semi-supervised
• Automatic

Vertical

• IT
• Automotive
• Government
• Healthcare
• Financial Services
• Retail
• Others

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• Middle East & Africa

This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.

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Key Takeaways from the Market Study

• The global data annotation tool market is anticipated to exhibit a CAGR of 15.1% during the forecast period from 2022 to 2032.
• The manual annotation segment is projected to garner a market share of 76% during the forecast period.
• The automatic annotation tool segment is projected to witness the highest growth trajectory while expanding at a CAGR of 17% in the forecast period.
• North America is anticipated to garner 32% of the global market share, growing at a CAGR of 13%
• South Asia & Pacific to be fastest growing, registering a CAGR worth 18% through 2032

“Increased adoption of AI and Machine Learning in the healthcare sector can play a significant role in boosting the market. Further, the outbreak of COVID-19 has offered various opportunities of expansion to the market.” – says an analyst at Fact.MR.

List of Tables

Table 1: Global Data Annotation Tool Market Value (US$ Mn) Analysis by Data Type, 2017-2021

Table 2: Global Data Annotation Tool Market Value (US$ Mn) Forecast by Data Type, 2022-2032

Table 3: Global Data Annotation Tool Market Value (US$ Mn) Analysis by Annotation Type, 2017-2021

Table 4: Global Data Annotation Tool Market Value (US$ Mn) Forecast by Annotation Type, 2022-2032

Table 5: Global Data Annotation Tool Market Value (US$ Mn) Analysis by Vertical, 2017-2021

List of Figures

Figure 1: Global Data Annotation Tool Market Historical Value (US$ Mn), 2017-2021

Figure 2: Global Data Annotation Tool Market Value (US$ Mn) Forecast, 2022-2032

Figure 3: Global Data Annotation Tool Market Absolute $ Opportunity, 2022-2032

Figure 4: Global Data Annotation Tool Market Value Share & BPS Analysis by Data Type– 2017, 2022 & 2032

Figure 5: Global Data Annotation Tool Market Y-o-Y Projection by Data Type, 2021-2032

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More Valuable Insights on Data Annotation Tool Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Data Annotation Tool, Sales and Demand of Data Annotation Tool, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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