- February 2, 2021
- Category: Enterprise IT and Software, Information and Communication Technology
Global Data Annotation Tools Market Size study, by Type (Text, Image/Video and Audio), by Annotation Type (Manual, Automatic and Semi-supervised), by Vertical (IT, Automotive, Government, Retail, Healthcare and Others) and Regional Forecasts 2021-2027
Chapter 1.Executive Summary 1.1. Market Snapshot 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion) 1.2.1. Data Annotation Tools Market, by Type, 2019-2027 (USD Billion) 1.2.2. Data Annotation Tools Market, by Annotation Type, 2019-2027 (USD Billion) 1.2.3. Data Annotation Tools Market, by Vertical, 2019-2027 (USD Billion) 1.2.4. Data Annotation Tools Market, by, 2019-2027 (USD Billion) 1.2.5. Data Annotation Tools Market, by, 2019-2027 (USD Billion) 1.3. Key Trends 1.4. Estimation Methodology 1.5. Research Assumption Chapter 2. Global Data Annotation Tools Market Definition and Scope 2.1. Objective of the Study 2.2. Market Definition & Scope 2.2.1. Scope of the Study 2.2.2. Industry Evolution 2.3. Years Considered for the Study 2.4. Currency Conversion Rates Chapter 3. Global Data Annotation Tools Market Dynamics 3.1. Data Annotation Tools Market Impact Analysis (2019-2027) 3.1.1. Market Drivers 22.214.171.124. Increasing demand from end-use industries 126.96.36.199. Rapid adoption of Artificial intelligence 3.1.2. Market Challenges 188.8.131.52. Issue of accuracy of data annotation 3.1.3. Market Opportunities 184.108.40.206. Research and development in data annotation sector Chapter 4. Global Data Annotation Tools Market Industry Analysis 4.1. Porter’s 5 Force Model 4.1.1. Bargaining Power of Suppliers 4.1.2. Bargaining Power of Buyers 4.1.3. Threat of New Entrants 4.1.4. Threat of Substitutes 4.1.5. Competitive Rivalry 4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027) 4.2. PEST Analysis 4.2.1. Political 4.2.2. Economical 4.2.3. Social 4.2.4. Technological 4.3. Investment Adoption Model 4.4. Analyst Recommendation & Conclusion Chapter 5. Global Data Annotation Tools Market, by Type 5.1. Market Snapshot 5.2. Global Data Annotation Tools Market by Type, Performance - Potential Analysis 5.3. Global Data Annotation Tools Market Estimates & Forecasts by Type 2018-2027 (USD Billion) 5.4. Data Annotation Tools Market, Sub Segment Analysis 5.4.1. Text 5.4.2. Image/Video 5.4.3. Audio Chapter 6. Global Data Annotation Tools Market, by Annotation Type 6.1. Market Snapshot 6.2. Global Data Annotation Tools Market by Annotation Type, Performance - Potential Analysis 6.3. Global Data Annotation Tools Market Estimates & Forecasts by Annotation Type 2018-2027 (USD Billion) 6.4. Data Annotation Tools Market, Sub Segment Analysis 6.4.1. Manual 6.4.2. Semi-supervised 6.4.3. Automatic Chapter 7. Global Data Annotation Tools Market, by Vertical 7.1. Market Snapshot 7.2. Global Data Annotation Tools Market by Vertical, Performance - Potential Analysis 7.3. Global Data Annotation Tools Market Estimates & Forecasts by Vertical 2018-2027 (USD Billion) 7.4. Data Annotation Tools Market, Sub Segment Analysis 7.4.1. IT 7.4.2. Automotive 7.4.3. Government 7.4.4. Healthcare 7.4.5. Financial Services 7.4.6. Retail 7.4.7. Others Chapter 8. Global Data Annotation Tools Market, Regional Analysis 8.1. Data Annotation Tools Market, Regional Market Snapshot 8.2. North America Data Annotation Tools Market 8.2.1. U.S. Data Annotation Tools Market 220.127.116.11. Type breakdown estimates & forecasts, 2018-2027 18.104.22.168. Annotation Type breakdown estimates & forecasts, 2018-2027 22.214.171.124. Vertical breakdown estimates & forecasts, 2018-2027 8.2.2. Canada Data Annotation Tools Market 8.3. Europe Data Annotation Tools Market Snapshot 8.3.1. U.K. Data Annotation Tools Market 8.3.2. Germany Data Annotation Tools Market 8.3.3. France Data Annotation Tools Market 8.3.4. Spain Data Annotation Tools Market 8.3.5. Italy Data Annotation Tools Market 8.3.6. Rest of Europe Data Annotation Tools Market 8.4. Asia-Pacific Data Annotation Tools Market Snapshot 8.4.1. China Data Annotation Tools Market 8.4.2. India Data Annotation Tools Market 8.4.3. Japan Data Annotation Tools Market 8.4.4. Australia Data Annotation Tools Market 8.4.5. South Korea Data Annotation Tools Market 8.4.6. Rest of Asia Pacific Data Annotation Tools Market 8.5. Latin America Data Annotation Tools Market Snapshot 8.5.1. Brazil Data Annotation Tools Market 8.5.2. Mexico Data Annotation Tools Market 8.6. Rest of The World Data Annotation Tools Market Chapter 9. Competitive Intelligence 9.1. Top Market Strategies 9.2. Company Profiles 9.2.1. ANNOTATE.COM 126.96.36.199. Key Information 188.8.131.52. Overview 184.108.40.206. Financial (Subject to Data Availability) 220.127.116.11. Product Summary 18.104.22.168. Recent Developments 9.2.2. APPEN LIMITED 9.2.3. CLOUDAPP 9.2.4. COGITO TECH LLC 9.2.5. DEEP SYSTEMS, LLC 9.2.6. LABELBOX, INC 9.2.7. LIGHTTAG 9.2.8. LOTUS QUALITY ASSURANCE 9.2.9. PLAYMENT INC. 9.2.10. TAGTOG SP. Z O.O. Chapter 10. Research Process 10.1. Research Process 10.1.1. Data Mining 10.1.2. Analysis 10.1.3. Market Estimation 10.1.4. Validation 10.1.5. Publishing 10.2. Research Attributes 10.3. Research Assumption
Global Data Annotation Tools Market is valued approximately USD 492 million in 2020 and is anticipated to grow with a healthy growth rate of more than 26.20% over the forecast period 2021-2027. Data annotation, in essence, is labelling of data to make it more lean, cleaner and useful for further processing. A data annotation tool is a cloud-based or containerized software solution that can be used to annotate production-grade training data for the purpose of machine learning. They are generally designed to be used with definite types of data, such as image, video, text, audio, or sensor data. Labeling the data makes objects recognizable to computer vision, which further trains the machine. It is very useful in artificial intelligence and machine learning. Above mentioned advantages, coupled with the rise of big data and increased demand from healthcare, automotive and retail industries, are driving the Data Annotation Tools market. In healthcare industry, annotation is used for medical imagining and drug development. In automotive sector, self-driving cars use the data annotation tools for data and image categorization. In June 2019, Uber acquired a Seattle startup, Mighty AI, which develops training data for computer vision models. The team at Mighty AI built a technology to label data and images at scale using the latest AI and user experience techniques. Uber also invested $457 million last year in the company’s Pittsburgh-based Advanced Technologies Group, which oversees self-driving tech. In 2019, Apple bought Drive.ai, an autonomous driving startup once valued at $200 million. The issue of accurate annotation of data, due to quality of datasets as well as the power of tools, may act as a restraint for its growth. However, increasing innovation, research and development of the data annotation technology acts as an opportunity for Data Annotation Tools Market in subsequent decade.
Key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World are analysed to provide a holistic picture of Data Annotation Tools Market. Due to higher number of companies in healthcare and automotive adopting AI in research and development as well as higher per capita income, North America emerged as a significant region across the world in terms of market share. Whereas, Asia-Pacific is expected to exhibit highest growth rate for the forecast period 2021-2027 owing to the rising awareness for adoption of new technologies in end-use industries, particularly retail, automotive and healthcare.
Major market player included in this report are:
COGITO TECH LLC
DEEP SYSTEMS, LLC
LOTUS QUALITY ASSURANCE
TAGTOG SP. Z O.O.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Annotation Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Data Annotation Tools Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers