North America Healthcare Data Annotation Tools Market Size & Outlook
North America healthcare data annotation tools market, 2017-2030 (US$M)
Related Markets
North America healthcare data annotation tools market highlights
- The North America healthcare data annotation tools market generated a revenue of USD 72.9 million in 2023.
- The market is expected to grow at a CAGR of 26.5% from 2024 to 2030.
- In terms of segment, image/video 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, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 72.9 million |
| Market revenue in 2030 | USD 377.5 million |
| Growth rate | 26.5% (CAGR from 2023 to 2030) |
| Largest segment | Image/video |
| Fastest growing segment | Image/Video |
| Historical data covered | 2017 - 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 | Infosys Ltd ADR, Innodata Inc, Appen Ltd, Shaip, Ango AI, CapeStart, LynxCare, iMerit, Anolytics, V7, SuperAnnotate |
Other key industry trends
- In terms of revenue, North America region accounted for 43.5% of the global healthcare data annotation tools market in 2023.
- Globally, North America 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 211.1 million by 2030.
Image/video was the largest segment with a revenue share of 60.63% in 2023. Horizon Databook has segmented the North America healthcare data annotation tools market based on text, image/video, audio covering the revenue growth of each sub-segment from 2017 to 2030.
The growing use of advanced technologies such as artificial intelligence (AI), machine learning (ML), big data, cloud computing, and the Internet of Things (IoT) might be related to the rising expense of healthcare.
Rising government support and demands for advanced AI/ML solutions in healthcare, as well as growing usage of telehealth, e-prescribing, mHealth, and other healthcare IT technologies in response to COVID-19, are the key growth factors for the industry.
The healthcare sector is gaining popularity with data annotation technologies that offer interpretability capabilities like recording the justification for annotations and creating explanations.
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Healthcare Data Annotation Tools Market Scope
Healthcare Data Annotation Tools Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America healthcare data annotation tools market size, by country, 2017-2030 (US$M)
North America Healthcare Data Annotation Tools Market Outlook Share, 2023 & 2030 (US$M)
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