Global Data Annotation Tools Market Revenue Will Reportedly Hit USD 4 Billion by 2025

Zion Market Research has published a new report titled “Global Data annotation tools Market – By Annotation Approach (Automated Annotation and Manual Annotation), By Data Type (Text, Audio, and Image/Video), By Application (Healthcare, Automotive, IT & Telecom, BFSI, Agriculture, and Retail), And By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024-2032.” According to the report, global Data Annotation Tools Market, estimating its value at USD 102.38 Billion in 2023, with projections indicating that it will reach USD 908.57 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 24.4% over the forecast period 2024-2032

Browse the full “Global Data Annotation Tools Market – By Annotation Approach (Automated Annotation and Manual Annotation), By Data Type (Text, Audio, and Image/Video), By Application (Healthcare, Automotive, IT & Telecom, BFSI, Agriculture, and Retail), and By Region: Industry Perspective, Comprehensive Analysis, and Forecast, 2024-2032” Report at https://www.zionmarketresearch.com/report/data-annotation-tools-market

Unorganized piles of data can be reframed into organized & extremely useful information with the support of data annotation tools deployed through human assistance and machine learning capabilities. The growing demand for these tools in developing software and applications for various industries is eventually escalating the global data annotation tools market. The increased penetration of data labeling tools in a swiftly growing automotive sector is considerably flourishing the data annotation tools market. Through these tools, automakers can enhance the performance of self-driving vehicles by designing smart applications for V2X (vehicle-to-vehicle communication), improved processing of 2D and 3D annotation captured by various sensors, and to enhance other connectivity features like voice recognition & natural language processing.

Augmenting need for precise recognition from visual data propels the demand for image/video annotation tools

Based on the data type, the global data annotation market is bifurcated into text, audio, and image/video. Among the three, the image/video annotation tools segment directed the global market by holding a major revenue share in 2019. In addition, the segment is projected to hold the dominating position throughout the forecast period owing to the rising demand for data annotation tools in labeling a video or an image to precisely recognize the entity.

“Manual annotation” category under the annotation approach segment holds the leading position in the global market

The manual annotation category accounted for more than three fourth of the total revenue generated by the global data annotation tools market in 2019. Manually-handled annotation tools are preferred over automated annotation tools as the former ones are less prone to glitches owing to the involvement of highly qualified domain experts.

Some of the key players of the global data annotation tools market are CloudApp Inc., iMerit, Playment Inc., Trilldata Technologies Pvt. Ltd., Amazon Web Services Inc., LionBridge AI, Mighty AI, Samasource Inc., Google LLC, Labelbox Inc., Webtunix AI, Appen Limited, CloudFactory Limited, IBM Corporation, Neurala Inc., Alegion Inc., Cogito, Scale Inc., Clickworker GmbH, MonkeyLearn Inc., and Hive.

The report on global data annotation tools market is segmented as:

Global Data annotation tools Market: By Annotation Approach Segmentation Analysis

• Automated Annotation
• Manual Annotation

Global Data annotation tools Market: By Data Type Segmentation Analysis

• Text
• Audio
• Image/video
  • Polygon Annotation
  • Bounding Box
  • Lines & Splines
  • Semantic Annotation

Global Data annotation tools Market: By Application Segmentation Analysis

• Healthcare
• Automotive
• IT & Telecom
• BFSI
• Agriculture
• Retail

Global Data annotation tools Market: By Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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