Data Annotation Tools Market Is Projected To Reach US$ 6.6 Billion...

Data Annotation Tools Market Is Projected To Reach US$ 6.6 Billion By 2034

Posted 2024-06-13 13:28:04

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The Data Annotation Tool Industry sales study offers a comprehensive analysis on diverse features including production capacities, Data Annotation Tool demand, product developments, sales revenue generation and Data Annotation Tool market outlook across the globe.

market research report by Fact.MR, (Leading business and competitive intelligence provider) on global Data Annotation Tool market sales initiates with an outlook of the market, followed by the scrutiny of the demand and consumption volumes and share and size of various end-use segments

The global data annotation tool market is calculated to reach US$ 1.7 billion in 2024. Over the forecast period (from 2024 to 2034), worldwide revenue from the sales of data annotation tools is forecast to exhibit 14.5% CAGR (compound annual growth rate), leading to a market size of US$ 6.6 billion by 2034-end.

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The readability score of the Data Annotation Tool market demand report is good as it offers chapter-wise layout with each section divided into a smaller sections.

The report encompasses graphs and tables to show the entire assembling. Pictorial demonstration of the definite and estimated values of key segments is visually appealing to readers.

This Data Annotation Tool market outlook report explicates on vital dynamics such as the drivers, restraints and opportunities for key players and competitive analysis of Data Annotation Tool along with key stakeholders as well as emerging players associated with the manufacturing of product.

The Key trends Analysis of Extended Data Annotation Tool market also provides dynamics that are responsible for influencing the future sales and demand of over the forecast period.

Key Companies Profiled

· Cogito Tech LLC

· Google LLC

· CloudFactory Limited

· Amazon Mechanical Turk Inc.

· Clickworker GmbH

· Appen Limited

· Labelbox Inc.

· Annotate.com

· Playment Inc.

· Alegion

· CloudApp

Competitive Analysis :

Some of the prominent suppliers of data annotation tools are coming up with more effective services to generate leads. They are increasing their expenditure on new product development, providing quality products, and managing systems utilized in the supply chain. Moreover, acquisitions, collaborations, partnerships, etc., are some other strategies adopted by players.

For instance :

· Appen Limited is a company based in Australia and offers quality training data for numerous organizations building AI systems. In August 2021, the company announced the acquisition of Quadrant, who is dealing in corresponding compliance services, mobile location data, and Point-of-interest data.

· CloudApp is a cross-platform used prominently for the modern workplace. In May 2021, the company announced a collaboration with Slack as well as Atlassian products Confluence and Jira.

Segmentation of Data Annotation Tool Market Research

· By Data Type :

o Text

o Images/Videos

o Audio

· By Annotation Type :

o Manual Data

o Semi-supervised

o Automatic

· By Vertical :

o IT

o Automotive