Worldwide Demand for Data Annotation Tools Is Anticipate To Expand At A CAGR of 15.1% by 2032| Fact.MR Forecasts

Posted on 2022-11-27 by Fact.MR in Technology // 0 Comments

Data Annotation Tools Market Analysis by Data Type (Text, Image/Video, Audio Data Annotation Tool), by Annotation Type (Manual, Semi-supervised, Automatic Data Annotation Tool), by Vertical & Region – Global Forecast 2022-2032

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.

Globally, organizations are adopting the ‘do-it-yourself’ method which is expected to drive the market significantly during the forecast period. Also, the increasing penetration of AI and machine learning solutions in the healthcare sector can further augment the demand for data annotation tools in the coming time.

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Competitive Landscape

Several players of the global data annotation tool market are providing various services which are expected to give the players a higher position against their competitors in the market. The key players majorly focus on investments, expansions, delivery, acquisitions, brand development, and portfolio expansion.

In August 2021, Appen Limited, an Australian company that offers high-quality training data for organizations that build AI systems, announced its plan to acquire Quadrant, the global player in mobile location data, corresponding compliance services, and Pint-of Interest data.
In May 2021, CloudApp, a cross-platform for the modern workplace, announced a partnership with Slack and Atlassian products Jira and Confluence.

Prominent Key Players Of The Data Annotation Tools Market Survey Report:

Google LLC
Amazon Mechanical Turk Inc.
Appen Limited
Annotate.com
Alegion
CloudApp
Cogito Tech LLC
Playment Inc.
Labelbox Inc.
Clickworker GmbH
CloudFactory Limited

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Key Segments Covered in the Data Annotation Tool Industry Report

Data Type
- Text Data Annotation Tool
- Image/Video Data Annotation Tool
- Audio Data Annotation Tool
Annotation Type
- Manual Data Annotation Tool
- Semi-supervised Data Annotation Tool
- Automatic Data Annotation Tool
Vertical
- Data Annotation Tool for IT
- Data Annotation Tool for Automotive
- Data Annotation Tool for Government
- Data Annotation Tool for Healthcare
- Data Annotation Tool for Financial Services
- Data Annotation Tool for Retail
- Data Annotation Tool for Other Verticals

Questionnaire answered in the Data Annotation Tools Market report include:

How the market for Data Annotation Tools has grown?
What is the present and future outlook of the global Data Annotation Tools on the basis of region?
What are the challenges and opportunities for the Data Annotation Tools?
Why the consumption of Data Annotation Tools highest in region?
In which year segment is expected to overtake segment?

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