Latin America Data Annotation Tools Market Size & Outlook
Latin America data annotation tools market, 2018-2030 (US$M)
Related Markets
Latin America data annotation tools market highlights
- The Latin America data annotation tools market generated a revenue of USD 52.2 million in 2023.
- The market is expected to grow at a CAGR of 26.1% from 2024 to 2030.
- In terms of segment, text was the largest revenue generating type in 2023.
- Image/Video is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 52.2 million |
| Market revenue in 2030 | USD 264.5 million |
| Growth rate | 26.1% (CAGR from 2023 to 2030) |
| Largest segment | Text |
| Fastest growing segment | Image/Video |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Text, Image/Video, Audio |
| Key market players worldwide | Appen Ltd, Cogito Tech, TELUS International (Cda) Inc Ordinary Shares (Sub Voting), Amazon.com Inc, Alphabet Inc Class A |
Other key industry trends
- In terms of revenue, Latin America region accounted for 5.1% of the global data annotation tools market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,738.3 million by 2030.
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Data Annotation Tools Market Scope
Data Annotation Tools Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America data annotation tools market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to data annotation tools market will help companies and investors design strategic landscapes.
Text was the largest segment with a revenue share of 39.66% in 2023. Horizon Databook has segmented the Latin America data annotation tools market based on text, image/video, audio covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing criminal activities in the region have led to strengthening security systems, which boosts the adoption of image/video-based data collection and annotation applications. For instance, in March 2020, the Brazilian government authorities installed 106 smart cameras across the states of São Paulo and Bahia to reinforce their surveillance and security.
The government of São Paulo has deployed a classification algorithm for real-time analysis with the strategic placement of drones and smart cameras. The rapid growth of the automotive manufacturing industry in Brazil is driven primarily by the foreign investments made by some of the leading automobile producers globally, such as Mercedes-Benz, BMW, Volkswagen Audi, among others.
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Target buyers of Latin America data annotation tools market databook
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Our clientele includes a mix of data annotation tools market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America data annotation tools market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America data annotation tools market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America data annotation tools market size, by country, 2018-2030 (US$M)
Latin America Data Annotation Tools Market Outlook Share, 2023 & 2030 (US$M)
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