Data Labelling Software Market to Showcase Robust Growth By Forecast to 2030
Lakewood, Colorado, 2023-Mar 24— /EPR Network/According to the Regional Research Reports, the Global Data Labelling Software Market size is expected to grow from USD 829.9 million in 2021 to USD 7,244.8 million by 2030, at a CAGR of 27.3% from 2022 to 2030.
Data Labelling Software Market Definition
Data labelling software—also known as training data, data annotation, data tagging, or data classification software—provides a toolset for businesses to turn unlabelled data into labelled data and build corresponding artificial intelligence algorithms. Within these tools, the user inputs a given dataset and the software provides a label through machine learning-assisted labelling, a human task force, or the user themselves. Some platforms allow for the combination of the three, giving the user (or the system itself) the ability to choose who or what is doing the labelling, based on factors such as price, quality, and speed.
Data labelling tools differ as it relates to the types of data (e.g., image, video, audio, and text), as well as the subsets of those types (e.g., satellite imagery, LIDAR, etc.), they support. The types of annotation also vary and include image segmentation and object detection for image data; named entity recognition (NER) and sentiment detection for text data; and transcription and emotion recognition for speech annotation. To assess the quality of the labels, most tools use metrics like a consensus, ground truth, and more.
This software can often integrate with data science and machine learning platforms, whereby the labelled data from the data labelling software helps to train an algorithm.
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Data Labelling Software Market Pricing
The Data Labelling Software pricing is estimated to range from USD 100 to USD 150 per year. The pricing depends on the features and specifications integrated into the software. The main features of the software include emotional intelligence, conversational ability, broad knowledge base, personal, and personality.
Market Scope
The research study provides an in-depth analysis of the Data Labelling Software market along with the current market trends and future estimations to elucidate the imminent investment pockets. Information about key drivers, restraints, and opportunities and their impact analysis on the market size is provided. Porter’s five forces analysis illuminates the potency of suppliers and buyers operating in the market. A quantitative analysis of the Data Labelling Software market from 2022 to 2030 is provided to determine the market potential.
This report also contains the market size, untapped opportunity index, and forecasts of Data Labelling Software in the global market, including the following market information:
- Global Data Labelling Software Market Revenue, 2018-2021, 2022-2030, (USD Millions)
- Global Data Labelling Software Market Sales, 2018-2021, 2022-2030, (Units)
- Global top five Data Labelling Software companies in 2021 (%)
Regional Research Reports has surveyed the Data Labelling Software manufacturers, suppliers, distributors, and industry experts in this end-use industry, involving the consumption, production, revenue generators, demand-side, supply-side, price change, product type analysis, recent development and strategies, industry trends, drivers, challenges, obstacles, and potential risks.
Data Labelling Software Market Segmentation
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Global Data Labelling Software Market, By Deployment Model, 2018-2021, 2022-2030 (USD Millions)
Global Data Labelling Software Market, By Component, 2018-2021, 2022-2030 (USD Millions)
- Solution
- Services
Global Data Labelling Software Market, By End User, 2018-2021, 2022-2030 (USD Millions)
Global Data Labelling Software Market, By Industry, 2018-2021, 2022-2030 (USD Millions)
- BFSI
- Healthcare
- Energy & Utility
- IT & Telecommunication
- Retail & E-commerce
- Manufacturing
- Government & Defense
- Media & Entertainment
- Others
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Global Data Labelling Software Market, By Region and Country, 2018-2021, 2022-2030 (USD Millions)
Global Data Labelling Software Market Segment Percentages, By Region and Country, 2021 (%)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- The U.K.
- Italy
- Russia
- Nordic Countries
- Benelux
- Rest of Europe
- Asia
- China
- Japan
- South Korea
- Southeast Asia
- India
- Rest of Asia
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Turkey
- Israel
- Saudi Arabia
- UAE
- Rest of the Middle East & Africa
Global Data Labelling Software Market Trend
In addition, artificial intelligence techniques such as NLP software help make Data labelling solutions easier to use and more powerful, providing more accurate results. Below are the trends relevant to this software.
Conversational interfaces
In general, users are looking to conversational interfaces to get answers to their burning questions. For example, they are looking to query their data in a more natural way. Since natural language understanding has improved, people can talk to their data, finding and exploring insights using natural, intuitive language. With this powerful technology, users can focus on discovering patterns and finding meaning hidden in the data as opposed to memorizing SQL queries.
Data-focused businesspeople, like data analysts, can benefit from conversational interfaces like Data labelling. Users can uncover the material they are looking for using intuitive language. Intuitive methods of querying data mean a larger user base that can access and make sense of company data.
Voice
Voice is a primal method of interacting with others. It is only natural that we now converse with our machines using our voice and that the platforms for said voice bots have seen great success. Voice makes technology feel more human and allows people to trust it more. Voice will prove to be an important natural interface that mediates human communication and relationships with devices, and ultimately, within an AI-powered world.
Artificial intelligence
AI is quickly becoming a promising feature of many, if not most, types of software. With machine learning, end users can identify patterns in data, allowing them to make sense of content and help them understand what they are seeing. This pattern recognition is fueling the rise of more powerful, contextually-aware Data labelling.
Competitor Analysis of the Global Data Labelling Software Market
Analysis on leading market companies and participants, including:
- Key companies Data Labelling Software revenues in the global market, 2018-2021 (Estimated), (USD Millions)
- Key companies Data Labelling Software revenues share in global market, 2021 (%)
- Key companies Data Labelling Software sales in the global market, 2018-2021 (Estimated), (MT)
- Key companies Data Labelling Software sales share in global market, 2021 (%)
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Further, the report detailed out about the leading competitors in the market, namely:
- Scale AI
- Snorkel AI
- Crowd AI
- Datasaur
- Sama
- Edgecase
- Africa AI
- Labelbox
- Playment
- SuperAnnotate
- Surge AI
- Cogito Tech
- CloudFactory
- Pure Moderation
- V7 Labs
- Super.AI
- Alegion
- Segments.ai
- Ango AI
- Dataloop
- Appen
- Hive
- Clarifai
- Automaton AI
- Amazon Sagemaker Ground Truth
Why do you need to purchase this report?
- Get the clear understanding on the market’s current and future in both established and emerging markets.
- Complete information on the entry-level research study as the report consists of considerable information focusing on market size estimations, key players, development, and market trends.
- The report showcase deep-dive segmental market analysis of all key geography and countries around the globe.
- The most recent developments and news within the market and statistics on the market leaders along with their market share and techniques.
- Current, Historical, and forecasted market size from both value (USD million) and volume (units).
- 3-months of analyst support to understand the market objective, along with the market estimate sheet (in excel)
Key Questions Answered in This Report:
- What will the market forecast and the growth rate from 2022 to 2030?
- What are the key dynamics and trends of the market?
- What are the primary driving elements for the market growth?
- What are the obstacles developed to the market?
- Who are the leading companies with their market positioning share?
- How much can incremental dollar investment opportunities can be witnessed in the market during the forecast period?
- Analysis of the market players and the market anslysis through SWOT, PORTER’s, and PESTEL study.
