AI Training Dataset Market Is Anticipated To Expand At A CAGR of 22.2% From 2022 To 2030

Felton, Calif., USA, Sept. 13, 2020 — /EPR Network/ —

AI Training Dataset Industry Overview

The global AI training dataset market size was valued at USD 1,408.5 million in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 22.2% from 2022 to 2030.

AI is gaining significant importance in various industry applications such as manufacturing, IT, BFSI, retail, and ecommerce, and healthcare. The growing demand for application-specific training data is also opening opportunities for new entrants. Artificial Intelligence (AI) is becoming vital to big data as the technology allows the extraction of high-level and complex abstractions using a hierarchical learning process leading to the need for mining and extracting meaningful patterns from voluminous data.

Gather more insights about the market drivers, restrains and growth of the Global AI Training Dataset Market

The AI enables machines to learn from experience, perform human-like tasks, and adjust to new inputs. These machines are trained to process massive data and determine patterns to accomplish a specific task. In order to train these machines, certain datasets are required. To cater to this requirement, the demand for artificial intelligence training datasets is increasing. The working of machines entirely depends on the dataset provided. Thus, it becomes essential to provide high-quality datasets for training. This high-quality dataset enhances the performance of AI. It also helps in reducing the time required to prepare data and increases the accuracy of predictions. Thus, vendors in the market are also focusing on acquiring companies that can help them to enhance the quality of data.

For instance, in March 2020, Appen Limited, a specialized dataset provider, announced the acquisition of Figure Eight Inc., a provider of the machine learning platform. The latter company creates high-quality data by transforming unlabeled data with the help of automated tools. This acquisition will help the former company to increase the creation speed of a high-quality training dataset. It will also help in enhancing the quality of data.

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AI Training Dataset Market Segmentation

Grand View Research has segmented the global AI training dataset market based on type, vertical, and region:

• AI Training Dataset Type Outlook (Revenue, USD Million, 2017 – 2030)
  • Text
  • Image/Video
  • Audio
• AI Training Dataset Vertical Outlook (Revenue, USD Million, 2017 – 2030)
  • IT
  • Automotive
  • Government
  • Healthcare
  • BFSI
  • Retail & E-commerce
  • Others
• AI Training Dataset Regional Outlook (Revenue, USD Million, 2017 – 2030)
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Market Share Insights

January 2021: Vector Space AI, a datasets provider, entered into a collaboration with Elasticsearch B.V., a search company. The former company will be providing AI datasets to its users that are built in collaboration with the latter company. Vectorspace AI launched datasets that will power AI, ML and data engineering.

September 2020: Waymo LLC, a Google LLC company, released a new dataset for autonomous vehicles. This dataset comprises sensor data that has been collected from camera sensors and LiDAR under various driving conditions such as cyclists, pedestrians, signage, and others. Such developments are driving the adoption of training datasets in the market, thereby catering to a high share in the market for AI training dataset.

Key Companies profiled:

Some prominent players in the global AI Training Dataset market include

• Google, LLC (Kaggle)
• Appen Limited
• Cogito Tech LLC
• Lionbridge Technologies, Inc.
• Amazon Web Services, Inc.
• Microsoft Corporation
• Scale AI Inc.
• Samasource Inc.
• Alegion
• Deep Vision Data

Order a free sample PDF of the AI Training Dataset Market Intelligence Study, published by Grand View Research.