Global Data Annotation Tools Market was valued US$ XX Bn in 2019 and is expected to reach US$ 2.03 Bn by 2026, at a CAGR of around XX % during a forecast period. Annotation in machine learning is a process of labelling data which can be in form of text, images, audio or objects to make it recognizable for machines. Data annotation tools allow users to add cost to data by labelling and adding data attributes. The combination of data attributes allows users to manage data definitions in someplace by eliminating the need to rewrite similar rules in multiple places. The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region. To Know About The Research Methodology :- Request Free Sample Report The growth of the data annotation tools market is driven as there is favorable need in the industry. Vendors in this market are seen focusing on the development of novel marketing strategies and ideas to carve a niche position for themselves. The prominent focus is being put towards the launch of new products, create a brand reputation, and gain a strong position in the global data annotation tools market. The report covers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a significant role in the enlargement of the market from 2019 to 2026.
Global Data Annotation Tools Market Segment Analysis
Based on the type, the image segment is expected to dominate the xx% market share during the forecast period. The image segment data annotation is in the field of medical imaging. The medical imaging technology uses different equipment’s, such as x-ray scans, CT-scan to diagnose diseases and help doctors or surgeons decide the progress of treatment. Medical imaging is perceived to view and analyze the internal phases of the body with various sets of techniques that noninvasively produce images. Manual data annotation segment expected to dominate the xx% market share during the forecast period. The high level of integrity is needed for minimal administration of data annotation efforts, and a higher chance of discovering intriguing insights on the data as compared to automatic annotation. However, as the manual process can be expensive to considered data gathered through crowdsourcing activities is used for a variety of applications. Asia-Pacific is estimated to be the largest market for data annotation tools during the forecast period, owing to the rising adoption of data annotation tools in healthcare & financial sectors. Developing countries such as India and China are witnessing strong growth in the healthcare sector due to adoption of innovative technologies such as ‘AI’ and machine learning. The report covers the recent development in the data annotation tools market like in March 2019, Alegion, a leading AI and machine learning training data preparation platform provider launched novel image & video annotation tools for training data for AI and machine learning. This new product helped the business to offer robust machine learning solutions for the automotive, government, and financial sectors. The objective of the report is to present a complete calculation of the Global Data Annotation Tools Market and contains thoughtful insights, historical data, facts, industry-validated market data and plans with a suitable set of assumptions and methodology. The report also helps in the Global Data Annotation Tools Market is a dynamic structure by identifying and analyzing the market segments and project the global market size. The additional, report also focuses on the competitive analysis of key player’s by-product, financial position, price, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment shortly to the emerging segment in the Global Data Annotation Tools Market.
Global Data Annotation Tools Market, Key Highlights:
• Global Data Annotation Tools Market analysis and forecast, in terms of value. • Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Data Annotation Tools Market • Global Data Annotation Tools Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided. • Global Data Annotation Tools Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study. • Global Data Annotation Tools Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation. • Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled. • Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Data Annotation Tools Market are also profiled.
Scope of the Global Data Annotation Tools Market:Inquire before buying
Global Data Annotation Tools Market, by Type
• Text • Image • Video • Others
Global Data Annotation Tools Market, by Annotation Type
• Manual • Semi-supervised • Automatic
Global Data Annotation Tools Market, by Vertical
• IT • Automotive • Government • BFSI • Healthcare • Financial Services • Retail • Others
Global Data Annotation Tools Market, by Region
• North America • Europe • Asia Pacific • Middle East & Africa • South America
Global Data Annotation Tools Market Key Players
• Appen Limited • CloudApp • Cogito Tech LLC • Deep Systems • Labelbox • LightTag • Lotus Quality Assurance • Playment • CloudFactory Limited • Clickworker GmbH • Alegion • Figure Eight • Explosion AI • Mighty AI • Trilldata Technologies Pvt. Ltd • Annotate.com • iMerit • LionBridge AI • Scale Inc. • Webtunix AI. • Google, LLC.
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