Demand for Text Annotation Tool Exhibits a Meteoric 15.1% CAGR Over The Forecast Period

The research study encompasses the nitty-gritty of the global Data Annotation Tool market, from future prospects to the competitive scenario, comprehensively. With DROT analysis and Porter’s Five Forces analysis, the authors have presented a platter of factors influencing the growth of the Data Annotation Tool market. Further, the Data Annotation Tool market has been broken down into various segments, regions, end-uses and players to provide a clear picture of the present market situation to the readers.

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Global Data Annotation Tool Market: In-Depth Assessment on Key Segments

The global data annotation tool market is segmented on the basis of data type, annotation type, vertical, and region.

Data Type

  • Text
  • Image/Video
  • Audio

Annotation Type

  • Manual
  • Semi-supervised
  • Automatic

Vertical

  • IT
  • Automotive
  • Government
  • Healthcare
  • Financial Services
  • Retail
  • Others

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

Tech-Drive Advancements to Spur Sales of Data Annotation Tools

The competitive landscape is fairly fragmented consisting of new entrants, and small & medium incumbents. Research and development of data annotation tools that provide comprehensive analysis of real life data is a top priority among organizations. Trends such as digitization of banking and financial services in developing countries is a prime target for market players.

Fundraising and talent acquisition are top business strategies adopted by market players. Another prominent strategy is client-based expansion where organizations forge strategic partnerships with clients to give out advanced AI programs by developing disruptive data annotation tools.

Major players in the global data annotation tools market are, but not limited to, Annotate.com, Appen Limited, CloudApp, Cogito Tech LLC, Labelbox, Inc, Playment Inc, Tagtog Sp. z o.o., Clickworker GmbH, CloudFactory Limited, Alegion, Amazon, Mechanical Turk, Inc., and Google LLC.

Global Data Annotation Tool Market – Scope of the Report

The following report provides forecast and analysis of the global data annotation tool market along with the historical data of 2015, estimated data 2020 and forecast data up to 2030 in terms of value (US$ Mn), according to a Fact.MR study. The research propounds critical trends that are currently influencing growth within the global data annotation tool market along with several macro-economic indicators. This newly published and insightful report on data annotation tool sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global data annotation tool market.

The report also comprises the study of current issues with end users and opportunities for data annotation tool. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews. The dashboard included in the report provides a detailed comparison of data annotation tool manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the data annotation tool market provided in the report adds to the credibility of this exhaustive research study.

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Global Data Annotation Tool Market: In-Depth Assessment on Key Segments

The global data annotation tool market is segmented on the basis of data type, annotation type, vertical, and region.

Data Type Annotation Type Vertical Region
Text Manual IT North America
Image/Video Semi-supervised Automotive Latin America
Audio Automatic Government Europe
    Healthcare East Asia
    Financial Services South Asia & Oceania
    Retail Middle East & Africa
    Others  

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Global Data Annotation Tool Market: Research Methodology

A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.

The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the data annotation tool market.

A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the data annotation tool market, which includes global GDP growth rate, IT, automotive, healthcare, financial, services, retail and others. This report serves as an authentic resource of intelligence on the data annotation tool market, enabling the readers to take fact-based decisions on the future direction of their businesses

Country-specific assessment on demand for data annotation tool has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous data annotation tool manufacturers, experts, and suppliers. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.

The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries. The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global data annotation tool market. Some of the major competitors operating in the data annotation tool market are Annotate.com, Appen Limited, CloudApp, Cogito Tech LLC, Labelbox, Inc. Playment Inc., Tagtog Sp. z o.o., Clickworker GmbH, CloudFactory Limited, Alegion, Amazon Mechanical Turk, Inc., Google, LLC and others.

Autonomous Automotive – High Growth Vertical

Investments in development of autonomous automotive furthers the demand for data annotation tools to develop training datasets. For instance, Electric car manufacturer Tesla Inc., has been training its self-driving AI systems to instantly recognize inanimate and living objects. It is in fact trained to differentiate between humans, and animals. A direct result of advanced data annotation tools.

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