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Data Annotation Tools Market Size And Share Report, 2030GVR Report cover
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Data Annotation Tools Market Size, Share & Trends Analysis Report By Type (Text, Image/Video, Audio), By Annotation Type, By Vertical, By Region, And Segment Forecasts, 2024 - 2030
- Report ID: GVR-2-68038-938-8
- Number of Report Pages: 101
- Format: PDF, Horizon Databook
- Historical Range: 2017 - 2023
- Forecast Period: 2024 - 2030
- Industry: Technology
Data Annotation Tools Market Size & Trends
The global data annotation tools market size was estimated at USD 1.02 billion in 2023 and is anticipated to grow at a CAGR of 26.3% from 2024 to 2030. The growth is majorly driven by the increasing adoption of image data annotation tools in the automotive, retail, and healthcare sectors. The data annotation tools enable users to enhance the value of data by adding attribute tags to it or labeling it. The key benefit of using annotation tools is that the combination of data attributes enables users to manage the data definition at a single location and eliminates the need to rewrite similar rules in multiple places.
The rise of big data and a surge in the number of large datasets are likely to necessitate the use of artificial intelligence technologies in the field of data annotations. The data annotation industry is also expected to have benefited from the rising demands for improvements in machine learning as well as in the rising investment in advanced autonomous driving technology.
Technologies such as the Internet of Things (IoT), Machine Learning (ML), robotics, advanced predictive analytics, and Artificial Intelligence (AI) generate massive data. With changing technologies, data efficiency proves to be essential for creating new business innovations, infrastructure, and new economics. These factors have significantly contributed to the growth of the industry. Owing to the rising potential of growth in data annotation, companies developing AI-enabled healthcare applications are collaborating with data annotation companies to provide the required data sets that can assist them in enhancing their machine learning and deep learning capabilities.
For instance, in November 2022, Medcase, a developer of healthcare AI solutions, and NTT DATA, formalized a legally binding agreement. Under this partnership, the two companies announced their collaboration to offer data discovery and enrichment solutions for medical imaging. Through this partnership, customers of Medcase will gain access to NTT DATA's Advocate AI services. This access enables innovators to obtain patient studies, including medical imaging, for their projects.
However, the inaccuracy of data annotation tools acts as a restraint to the growth of the market. For instance, a given image may have low resolution and include multiple objects, making it difficult to label. The primary challenge faced by the market is issues related to inaccuracy in the quality of data labeled. In some cases, the data labeled manually may contain erroneous labeling and the time to detect such erroneous labels may vary, which further adds to the cost of the entire annotation process. However, with the development of sophisticated algorithms, the accuracy of automated data annotation tools is improving thus reducing the dependency on manual annotation and the cost of the tools.
Market Concentration & Characteristics
Significant innovations by prominent companies in the market are augmenting the degree of innovations in the data annotation tools market. Furthermore, the increasing utilization of AI by a number of businesses to develop novel products and revolutionize even the most established sectors is also projected to increase the need for novel innovations over the forecast period.
Strategic mergers and acquisitions from key companies are significantly fueling the market growth. In addition, the data annotation vendors are also poised for collaborations with leading tech giants in order to scale and expand their solution and service offerings to the diverse customer base. For instance, Amazon Web Services (AWS) has been chosen by Appen Limited, a source of high-quality data for the AI lifecycle, as its primary cloud for AI innovation and solutions. With a multi-year deal, the firms are deepening their collaboration as Appen creates new enterprise solutions for AI data source, model validation, and annotation.
The data annotation tools market is expected to be highly influenced by evolving regulations surrounding data privacy and security. Compliance with these regulations will be crucial, and annotation tools that effectively integrate industry-specific compliance measures will hold a competitive edge. However, stringent regulations could raise costs and introduce complexities for both tool developers and users.
The unique nature of data annotation involves translating data into a format understandable by machines and AI models, the threat of service substitution in this market is currently low. The increasing volume of AI and ML models further reinforces the demand for reliable data annotation. While AI-powered data annotation tools may automate primary tasks and potentially reduce costs in the future, human expertise in understanding and interpreting complex data will remain essential.
The market is characterized by a dynamic end-user landscape. Various industries are actively adopting data annotation tools. For instance, annotating data is going to play an important role in enhancing AI applications in the healthcare sector. Annotating medical imaging data allows AI-powered systems to analyze trends, identify potential abnormalities, and even assist medical professionals in generating automated reports. Exploring other promising end-user segments and their specific applications for data annotation tools will be crucial for understanding the market's future growth potential.
Type Insights
Based on type, the market is segmented into text, image/video, and audio. The text data annotation tools segment led the market in 2023, accounting for over 36.1% share of the global revenue. The image/video annotation segment is expected to dominate the market over the forecast period. Some of the major applications of image data annotation are in the medical industry in the field of medical imaging. The market is also witnessing substantial growth in the startup ecosystem in terms of innovations and investments. Startups such as Infervision, Zebra Medical Vision, and Arteries are some of the prominent startups within the healthcare sector in the data annotation market.
The text annotation segment is expected to grow at a promising pace over the forecast period, owing to the rising applications in e-commerce and clinical research applications. Text annotation will dominate the global market owing to the need to fine-tune the capacity of AI so that it can help recognize patterns in the text, voices, and semantic connections of the annotated data. Significant adoption of automated labeling solutions employing machine learning algorithms for text data annotation is notable. These solutions can offer speed and cost advantages over human-in-the-loop approaches subsequently propelling growth for the text annotation segment.
Annotation Type Insights
Based on annotation type, the market is categorized into manual, semi-supervised, and automatic. The manual segment held a dominant revenue share in 2023. Manual data annotation is a process of labeling or annotating any data by humans. The approach is popular due to its benefits such as accuracy, high level of integrity, minimal data annotation efforts, and a higher chance of discovering intriguing insights pertaining to the data compared to automatic annotation, which can be later integrated into an algorithm. However, as manual annotation can be expensive and time-consuming, labeled data gathered through crowdsourcing activities is used for various applications.
The automatic annotation segment is expected to grow at a promising pace from 2024 to 2030. AI is becoming vital to the data annotation industry as the technology allows the extraction of high-level and complex abstractions from the datasets using a hierarchical learning process. The need for mining and extracting meaningful patterns from voluminous data is driving the growth of AI, which is expected to further drive the demand for automatic data annotation tools. The semi-supervised systems can be used to identify specific labeled data or can be used to classify the unlabeled data semi-supervised. Thus, limited use of this annotation type will contribute to a moderate share in the market.
Vertical Insights
The IT segment held the leading revenue share in 2023. The healthcare data annotation tools segment is expected to grow at a good pace from 2024 to 2030. AI is widely adopted in the healthcare sector for various applications such as treatment prediction, diagnostic automation, drug development, and gene sequencing. The data sets in healthcare are required to be trained with machine learning algorithms. The quality of the training significantly impacts the efficacy and accuracy of the algorithm used for developing AI-based applications. Access to accurate and high-quality data sets is the key step in developing a successful AI-enabled product in the healthcare sector. Thus, data annotation tools drive the development of the sector by providing training data sets to the AI.
The automotive segment is anticipated to grow at the highest CAGR over the forecast period as data annotation tools find wide acceptance in self-driving vehicles. The growing R&D spending towards improving image annotation for pushing developments in the field of self-driving vehicles is boosting the market growth. For instance, in November 2022, TechSee entered into a partnership with TELUS International to advance real-time computer vision in engagement centers. This collaboration involves integrating TechSee's array of AI-driven service automation and visual engagement technologies into TELUS International's customer offerings of self-driving models.
Regional Insights
North America dominated the global market in terms of revenue share in 2023. This is due to the rapid product and geographical expansion strategy undertaken by key companies in order to gain a competitive edge. The growth is attributable to the increasing integration of mobile computing platforms and artificial intelligence in digital shopping and e-commerce. The rising prominence of crowdsourcing, to generate labeled data with efficiency and in a cost-effective manner, is fostering the market growth.
U.S. Data Annotation Tools Market Trends
The data annotation tools market in the U.S. is witnessing substantial market growth expanding with a CAGR of 22.7% from 2024 to 2030. The growth is driven by the rapid development of technology, the rising use of smart gadgets, and the prevalence of social networking sites. Furthermore, the increasing implementation of facial recognition technologies in security and surveillance systems is anticipated to further foster the growth.
Europe Data Annotation Tools Market Trends
The data annotation tools market in Europe anticipates robust growth driven by the increasing adoption of AI technologies across various sectors, particularly automotive and retail. These sectors utilize image annotation heavily for applications like self-driving cars and product analysis. While commercially licensed tools dominate the market, there's a growing presence of open-source and freemium options, catering to individual developers and cost-conscious businesses.
The UK data annotation tools market is estimated to hold highest growth rate in the Europe region owing to the healthcare sector being a prominent user of data annotation techniques. The requirement for efficient and precise data labeling for various medical imaging, such as X-rays, ultrasounds, and MRIs, may be ascribed to the growing acceptance of data annotation tools in the healthcare sector.
Asia Pacific Data Annotation Tools Market Trends
The data annotation tools market in Asia Pacific is anticipated to register the highest CAGR over the forecast period. The growth is attributed to the rising usage of mobile devices and tablets, rapid technical breakthroughs, and the rising prominence of social networking in developing economies like India and China. Emerging economies in the region hold significant potential for the widespread adoption of data annotation tools, particularly in the healthcare and financial services verticals marked by the increasing adoption of technology and innovative access programs.
The China data annotation tools market accounted for the largest revenue share in Asia Pacific in 2023. This can be attributed to the presence of leading companies along with flourishing startup ecosystem in China is propelling the market growth. Substantial investments and strategic collaborations for business innovation and advancement for employing cutting-edge technologies are projected to augment the market growth in the coming years.
Key Data Annotation Tools Company Insights
Vendors are taking several strategic initiatives, such as collaborations, acquisitions & mergers, and partnerships with other key market players. These companies are focusing on raising funds to support geographical expansion and product launches. For instance, in January 2023, CloudFactory, a worldwide human-in-the-loop AI company, has introduced rapid annotation, a Vision AI product that combines CloudFactory's best-in-class workforce with industry-leading AI-assisted labeling technology to produce high-quality labeled data 5 times quicker than manual labeling. By combining an established managed workforce operation and an adaptive AI-assisted labeling model, Accelerated Annotation offers a balanced approach to annotation quality and speed.
Key Data Annotation Tools Companies:
The following are the leading companies in the data annotation tools market. These companies collectively hold the largest market share and dictate industry trends.
- Annotate.com
- Appen Limited
- CloudApp
- Cogito Tech LLC
- Deep Systems
- Labelbox, Inc
- LightTag
- Lotus Quality Assurance
- Playment Inc
- Tagtog Sp. z o.o
- CloudFactory Limited
- ClickWorker GmbH
- Alegion
- Figure Eight Inc.
- Amazon Mechanical Turk, Inc
- Explosion AI GMbH
- Mighty AI, Inc.
- Trilldata Technologies Pvt Ltd
- Scale AI, Inc.
- Google LLC
- Lionbridge Technologies, Inc
- SuperAnnotate LLC
Recent Developments
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In November 2023, Appen Limited, a high-quality data provider for the AI lifecycle, chose Amazon Web Services (AWS) as its primary cloud for AI solutions and innovation. As Appen utilizes additional enterprise solutions for AI data source, annotation, and model validation, the firms are expanding their collaboration with a multi-year deal. Appen is strengthening its AI data platform, which serves as the bridge between people and AI, by integrating cutting-edge AWS services.
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In September 2023, Labelbox launched Large Language Model (LLM) solution to assist organizations in innovating with generative AI and deepen the partnership with Google Cloud. With the introduction of large language models (LLMs), enterprises now have a plethora of chances to generate new competitive advantages and commercial value. LLM systems have the ability to revolutionize a wide range of intelligent applications; nevertheless, in many cases, organizations will need to adjust or finetune LLMs in order to align with human preferences. Labelbox, as part of an expanded cooperation, is leveraging Google Cloud's generative AI capabilities to assist organizations in developing LLM solutions with Vertex AI. Labelbox's AI platform will be integrated with Google Cloud's leading AI and Data Cloud tools, including Vertex AI and Google Cloud's Model Garden repository, allowing ML teams to access cutting-edge machine learning (ML) models for vision and natural language processing (NLP) and automate key workflows.
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In March 2023, has released the most recent version of Enlitic Curie, a platform aimed at improving radiology department workflow. This platform includes Curie|ENDEX, which uses natural language processing and computer vision to analyze and process medical images, and Curie|ENCOG, which uses artificial intelligence to detect and protect medical images in Health Information Security.
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In November 2022, Appen Limited, a global leader in data for the AI Lifecycle, announced its partnership with CLEAR Global, a nonprofit organization dedicated to ensuring access to essential information and amplifying voices across languages. This collaboration aims to develop a speech-based healthcare FAQ bot tailored for Sheng, a Nairobi slang language.
Data Annotation Tools Market Report Scope
Report Attribute
Details
Market size value in 2024
USD 1.31 billion
Revenue forecast in 2030
USD 5.33 billion
Growth rate
CAGR of 26.3% from 2024 to 2030
Actual data
2017 - 2023
Forecast period
2024 - 2030
Quantitative units
Revenue in USD million/billion and CAGR from 2024 to 2030
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered
Type, annotation type, vertical, region
Regional scope
North America; Europe; Asia Pacific; South America; MEA
Country scope
U.S.; Canada; Mexico; Germany; UK; France; China; Japan; India; Brazil
Key companies profiled
Annotate.com; Appen Limited; CloudApp; Cogito Tech LLC; Deep Systems; Labelbox Inc; LightTag; Lotus Quality Assurance; Playment Inc; Tagtog Sp. z o.o; CloudFactory Limited; ClickWorker GmbH; Alegion; Figure Eight Inc; Amazon Mechanical Turk; Inc; Explosion AI; Mighty AI Inc; Trilldata Technologies Pvt. Ltd. (Data Turks); Scale; Inc; Google LLC
Customization scope
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs. Explore purchase options
Global Data Annotation Tools Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global data annotation tools market report based on type, annotation type, vertical, and region:
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Type Outlook (Revenue, USD Million, 2017 - 2030)
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Text
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Image/Video
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Audio
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Annotation Type Outlook (Revenue, USD Million, 2017 - 2030)
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Manual
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Semi-supervised
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Automatic
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Vertical Outlook (Revenue, USD Million, 2017 - 2030)
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IT
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Automotive
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Government
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Healthcare
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Financial Services
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Retail
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Others
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Regional Outlook (Revenue, USD Million, 2017 - 2030)
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North America
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U.S.
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Canada
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Mexico
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Europe
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Germany
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U.K.
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France
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Asia Pacific
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China
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Japan
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India
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South America
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Brazil
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Middle East and Africa (MEA)
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Frequently Asked Questions About This Report
b. The global data annotation tools market size was estimated at USD 1.02 billion in 2023 and is expected to reach USD 1.31 billion in 2024.
b. The global data annotation tools market is expected to grow at a compound annual growth rate of 26.3% from 2024 to 2030 to reach USD 5.33 billion by 2030.
b. North America dominated the data annotation tools market and accounted for the largest revenue share of over 36.2% in 2023.
b. Some key players operating in the data annotation tools market include Appen Limited; Cogito Tech LLC; Deep Systems; Labelbox, Inc.; LightTag; Playment Inc.; CloudFactory Limited; Clickworker GmbH; Alegion; Figure Eight Inc.; Amazon Mechanical Turk, Inc.; amongst others.
b. Key factors that are driving the data annotation tools market growth include the growing need to make text/image more interactive and engaging, rapid penetration of AI and machine learning, and growing R&D spending on the development of self-driving vehicles.
b. The text segment dominated the data annotation tools market and accounted for the largest revenue share of over 36.4% in 2023.
Table of Contents
Chapter 1 Data Annotation Tools Market: Methodology and Scope
1.1 Research Methodology
1.1.1 Information Analysis
1.1.2 Market Formulation & Data Visualization
1.2 Research Scope and Assumptions
1.3 List of Data Sources
1.3.1 Secondary Sources
1.3.2 Primary Sources
Chapter 2 Data Annotation Tools Market: Executive Summary
2.1 Data Annotation Tools - Industry Snapshot & Key Buying Criteria
2.2 Global Data Annotation Tools Market
2.2.1 Global Data Annotation Tools Market, 2017 - 2030
2.2.2 Global Data Annotation Tools Market, By Region, 2017 - 2030
2.2.3 Global Data Annotation Tools Market, By Type, 2017 - 2030
2.2.4 Global Data Annotation Tools Market, By Annotation Type, 2017 - 2030
2.2.5 Global Data Annotation Tools Market, By Vertical, 2017 - 2030
Chapter 3 Data Annotation Tools Market: Variables, Trends & Scope
3.1 Market Segmentation & Scope
3.2 Data Annotation Tools Market Penetration and Growth Prospects
3.3 Data Annotation Tools - Process Flow and Value Chain Analysis
3.4 Market Dynamics
3.4.1 Market Drivers
3.4.1.1 Growing need to make text/ image more interactive and engaging
3.4.1.2 Rapid penetration of AI and machine learning
3.4.1.3 Growing R&D spending on the development of self-driving vehicles
3.4.2 Market Restraints
3.4.2.1 Lack of skilled labor and high costs associated with manual annotation of complex images
3.5 Industry Analysis - Porter’s
3.5.1 Supplier Power
3.5.2 Buyer Power
3.5.3 Substitution Threat
3.5.4 Threat From New Entrant
3.5.5 Competitive Rivalry
3.6 Data Annotation Tools - PEST Analysis
3.6.1 Political
3.6.2 Economic
3.6.3 Social
3.6.4 Technological
3.7 COVID-19 Impact Analysis
Chapter 4 Data Annotation Tools: Type Outlook
4.1 Data Annotation Tools Market Share by Type, 2023 & 2030
4.2 Text
4.2.1 Text Annotation Tools Market, By Region, 2017 - 2030
4.3 Image
4.3.1 Image Data Annotation Tools Market, By Region, 2017 - 2030
4.4 Others
4.4.1 Others Data Annotation Tools Market, By Region, 2017 - 2030
Chapter 5 Data Annotation Tools: Annotation Type Outlook
5.1 Data Annotation Tools Market Share by Annotation Type, 2023 & 2030
5.2 Manual
5.2.1 Manual Annotation Tools Market, By Region, 2017 - 2030
5.3 Semi-Supervised
5.3.1 Semi-Supervised Data Annotation Tools Market, By Region, 2017 - 2030
5.4 Automatic
5.4.1 Automatic Data Annotation Tools Market, By Region, 2017 - 2030
Chapter 6 Data Annotation Tools: Vertical Outlook
6.1 Data Annotation Tools Market Share by Vertical, 2023 & 2030
6.2 IT
6.2.1 It Data Annotation Tools Market, By Region, 2017 - 2030
6.3 Automotive
6.3.1 Automotive Data Annotation Tools Market, By Region, 2017 - 2030
6.4 Government
6.4.1 Government Data Annotation Tools Market, By Region, 2017 - 2030
6.5 Healthcare
6.5.1 Healthcare Data Annotation Tools Market, By Region, 2017 - 2030
6.6 Financial Services
6.6.1 Financial Services Data Annotation Tools Market, By Region, 2017 - 2030
6.7 Retail
6.7.1 Retail Data Annotation Tools Market, By Region, 2017 - 2030
6.8 Others
6.8.1 Others Data Annotation Tools Market, By Region, 2017 - 2030
Chapter 7 Data Annotation Tools: Regional Outlook
7.1 North America
7.1.1 North America Data Annotation Tools Market, By Type, 2017 - 2030
7.1.2 North America Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.1.3 North America Data Annotation Tools Market, By Vertical, 2017 - 2030
7.1.4 U.S.
7.1.4.1 U.S. Data Annotation Tools Market, By Type, 2017 - 2030
7.1.4.2 U.S. Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.1.4.3 U.S. Data Annotation Tools Market, By Vertical, 2017 - 2030
7.1.5 Canada
7.1.5.1 Canada Data Annotation Tools Market, By Type, 2017 - 2030
7.1.5.2 Canada Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.1.5.3 Canada Data Annotation Tools Market, By Vertical, 2017 - 2030
7.1.6 Mexico
7.1.6.1 Mexico Data Annotation Tools Market, By Type, 2017 - 2030
7.1.6.2 Mexico Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.1.6.3 Mexico Data Annotation Tools Market, By Vertical, 2017 - 2030
7.2 Europe
7.2.1 Europe Data Annotation Tools Market, By Type, 2017 - 2030
7.2.2 Europe Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.2.3 Europe Data Annotation Tools Market, By Vertical, 2017 - 2030
7.2.4 UK
7.2.4.1 UK Data Annotation Tools Market, By Type, 2017 - 2030
7.2.4.2 UK Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.2.4.3 UK Data Annotation Tools Market, By Vertical, 2017 - 2030
7.2.5 Germany
7.2.5.1 Germany Data Annotation Tools Market, By Type, 2017 - 2030
7.2.5.2 Germany Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.2.5.3 Germany Data Annotation Tools Market, By Vertical, 2017 - 2030
7.2.6 France
7.2.6.1 France Data Annotation Tools Market, By Type, 2017 - 2030
7.2.6.2 France Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.2.6.3 France Data Annotation Tools Market, By Vertical, 2017 - 2030
7.3 Asia Pacific
7.3.1 Asia Pacific Data Annotation Tools Market, By Type, 2017 - 2030
7.3.2 Asia Pacific Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.3.3 Asia Pacific Data Annotation Tools Market, By Vertical, 2017 - 2030
7.3.4 China
7.3.4.1 China Data Annotation Tools Market, By Type, 2017 - 2030
7.3.4.2 China Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.3.4.3 China Data Annotation Tools Market, By Vertical, 2017 - 2030
7.3.5 Japan
7.3.5.1 Japan Data Annotation Tools Market, By Type, 2017 - 2030
7.3.5.2 Japan Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.3.5.3 Japan Data Annotation Tools Market, By Vertical, 2017 - 2030
7.3.6 India
7.3.6.1 India Data Annotation Tools Market, By Type, 2017 - 2030
7.3.6.2 India Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.3.6.3 India Data Annotation Tools Market, By Vertical, 2017 - 2030
7.4 South America
7.4.1 South America Data Annotation Tools Market, By Type, 2017 - 2030
7.4.2 South America Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.4.3 South America Data Annotation Tools Market, By Vertical, 2017 - 2030
7.4.4 BRAZIL
7.4.4.1 Brazil Data Annotation Tools Market, By Type, 2017 - 2030
7.4.4.2 Brazil Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.4.4.3 Brazil Data Annotation Tools Market, By Vertical, 2017 - 2030
7.5 MEA
7.5.1 MEA Data Annotation Tools Market, By Type, 2017 - 2030
7.5.2 MEA Data Annotation Tools Market, By Annotation Type, 2017 - 2030
7.5.3 MEA Data Annotation Tools Market, By Vertical, 2017 - 2030
Chapter 8 Competitive Landscape
8.1 Company Profiles
8.1.1 ANNOTATE.COM
8.1.1.1 Company Overview
8.1.1.2 Product Benchmarking
8.1.2 APPEN LIMITED
8.1.2.1 Company Overview
8.1.2.2 Financial Performance
8.1.2.3 Product Benchmarking
8.1.2.4 Recent developments
8.1.3 CLOUDAPP
8.1.3.1 Company Overview
8.1.3.2 Product Benchmarking
8.1.4 COGITO TECH LLC
8.1.4.1 Company Overview
8.1.4.2 Product Benchmarking
8.1.5 DEEP SYSTEMS, LLC
8.1.5.1 Company Overview
8.1.5.2 Product Benchmarking
8.1.6 LABELBOX, INC
8.1.6.1 Company Overview
8.1.6.2 Financial Performance
8.1.6.3 Product Benchmarking
8.1.6.4 Recent developments
8.1.7 LIGHTTAG
8.1.7.1 Company Overview
8.1.7.2 Product Benchmarking
8.1.8 LOTUS QUALITY ASSURANCE
8.1.8.1 Company Overview
8.1.8.2 Product Benchmarking
8.1.9 PLAYMENT INC.
8.1.9.1 Company Overview
8.1.9.2 Product Benchmarking
8.1.10 TAGTOG SP. Z O.O.
8.1.10.1 Company Overview
8.1.10.2 Product Benchmarking
8.1.11 CLOUDFACTORY LIMITED
8.1.11.1 Company Overview
8.1.11.2 Financial Performance
8.1.11.3 Product Benchmarking
8.1.11.4 Recent developments
8.1.12 CLICKWORKER GMBH
8.1.12.1 Company Overview
8.1.12.2 Product Benchmarking
8.1.13 ALEGION
8.1.13.1 Company Overview
8.1.13.2 Product Benchmarking
8.1.13.3 Recent developments
8.1.14 FIGURE EIGHT INC.
8.1.14.1 Company Overview
8.1.14.2 Product Benchmarking
8.1.15 AMAZON MECHANICAL TURK, INC.
8.1.15.1 Company Overview
8.1.15.2 Product Benchmarking
8.1.15.3 Recent developments
8.1.16 EXPLOSION AI GMBH
8.1.16.1 Company Overview
8.1.16.2 Product Benchmarking
8.1.17 MIGHTY AI, INC.
8.1.17.1 Company Overview
8.1.17.2 Product Benchmarking
8.1.18 TRILLDATA TECHNOLOGIES PVT LTD
8.1.18.1 Company Overview
8.1.18.2 Product Benchmarking
8.1.19 SCALE AI, INC.
8.1.19.1 Company Overview
8.1.19.2 Product Benchmarking
8.1.19.3 Recent developments
8.1.20 GOOGLE LLC
8.1.20.1 Company Overview
8.1.20.2 Financial Performance
8.1.20.3 Product Benchmarking
8.1.21 LIONBRIDGE TECHNOLOGIES, INC.
8.1.21.1 Company Overview
8.1.21.2 Product Benchmarking
8.1.21.3 Recent developments
8.1.22 SUPERANNOTATE LLC
8.1.22.1 Company Overview
8.1.22.2 Product Benchmarking
8.1.22.3 Recent developments
List of Tables
Table 1 Data annotation tools Market - Industry snapshot & key buying criteria, 2017 - 2030
Table 2 Global data annotation tools market, 2017 - 2030 (USD Million)
Table 3 Global data annotation tools market, by region, 2017 - 2030 (USD Million)
Table 4 Global data annotation tools market, by type, 2017 - 2030 (USD Million)
Table 5 Global data annotation tools market, by annotation type, 2017 - 2030 (USD Million)
Table 6 Global data annotation tools market, by vertical, 2017 - 2030 (USD Million)
Table 7 Key market driver impact
Table 8 Key market restraints impact
Table 9 List of key market Companies
Table 10 Text data annotation tools market, by region, 2017 - 2030 (USD Million)
Table 11 Image data annotation tools market, by region, 2017 - 2030 (USD Million)
Table 12 Others data annotation tools market, by region, 2017 - 2030 (USD Million)
Table 13 Manual data annotation tools market, by region, 2017 - 2030 (USD Million)
Table 14 Semi-Supervised data annotation tools market, by region, 2017 - 2030 (USD Million)
Table 15 Automatic data annotation tools market, by region, 2017 - 2030 (USD Million)
Table 16 IT data annotation tools market, by region, 2017 - 2030 (USD Million)
Table 17 Automotive data annotation tools market, by region, 2017 - 2030 (USD Million)
Table 18 Government data annotation tools market, by region, 2017 - 2030 (USD Million)
Table 19 Healthcare data annotation tools market, by region, 2017 - 2030 (USD Million)
Table 20 Financial Services data annotation tools market, by region, 2017 - 2030 (USD Million)
Table 21 Retail data annotation tools market, by region, 2017 - 2030 (USD Million)
Table 22 Other data annotation tools market, by region, 2017 - 2030 (USD Million)
Table 23 North America data annotation tools market, by type, 2017 - 2030 (USD Million)
Table 24 North America data annotation tools market, by annotation type, 2017 - 2030 (USD Million)
Table 25 North America data annotation Tools market, By vertical, 2017 - 2030 (USD Million)
Table 26 U.S. data annotation tools market, by type, 2017 - 2030 (USD Million)
Table 27 U.S. data annotation tools market, by annotation type, 2017 - 2030 (USD Million)
Table 28 U.S. data annotation tools market, by vertical, 2017 - 2030 (USD Million)
Table 29 Canada data annotation tools market, by type, 2017 - 2030 (USD Million)
Table 30 Canada data annotation tools market, by annotation type, 2017 - 2030 (USD Million)
Table 31 Canada data annotation tools market, by vertical, 2017 - 2030 (USD Million)
Table 32 Mexico data annotation tools market, by type, 2017 - 2030 (USD Million)
Table 33 Mexico data annotation tools market, by annotation type, 2017 - 2030 (USD Million)
Table 34 Mexico data annotation tools market, by vertical, 2017 - 2030 (USD Million)
Table 35 Europe data annotation tools market, by type, 2017 - 2030 (USD Million)
Table 36 Europe data annotation tools market, by annotation type, 2017 - 2030 (USD Million)
Table 37 Europe data annotation tools market, by vertical, 2017 - 2030 (USD Million)
Table 38 UK data annotation tools market, by type, 2017 - 2030 (USD Million)
Table 39 UK data annotation tools market, by annotation type, 2017 - 2030 (USD Million)
Table 40 UK data annotation tools market, by vertical, 2017 - 2030 (USD Million)
Table 41 Germany data annotation tools market, by type, 2017 - 2030 (USD Million)
Table 42 Germany data annotation tools market, by annotation type, 2017 - 2030 (USD Million)
Table 43 Germany data annotation tools market, by vertical, 2017 - 2030 (USD Million)
Table 44 France data annotation tools market, by type, 2017 - 2030 (USD Million)
Table 45 France data annotation tools market, by annotation type, 2017 - 2030 (USD Million)
Table 46 France data annotation tools market, by vertical, 2017 - 2030 (USD Million)
Table 47 Asia Pacific data annotation tools market, by type, 2017 - 2030 (USD Million)
Table 48 Asia Pacific data annotation tools market, by annotation type, 2017 - 2030 (USD Million)
Table 49 Asia Pacific data annotation tools market, by vertical, 2017 - 2030 (USD Million)
Table 50 China data annotation tools market, by type, 2017 - 2030 (USD Million)
Table 51 China data annotation tools market, by annotation type, 2017 - 2030 (USD Million)
Table 52 China data annotation tools market, by vertical, 2017 - 2030 (USD Million)
Table 53 Japan data annotation tools market, by type, 2017 - 2030 (USD Million)
Table 54 Japan data annotation tools market, by annotation type, 2017 - 2030 (USD Million)
Table 55 Japan data annotation tools market, by vertical, 2017 - 2030 (USD Million)
Table 56 India data annotation tools market, by type, 2017 - 2030 (USD Million)
Table 57 India data annotation tools market, by annotation type, 2017 - 2030 (USD Million)
Table 58 India data annotation tools market, by vertical, 2017 - 2030 (USD Million)
Table 59 South America data annotation tools market, by type, 2017 - 2030 (USD Million)
Table 60 South America data annotation tools market, by annotation type, 2017 - 2030 (USD Million)
Table 61 South America data annotation tools market, by vertical, 2017 - 2030 (USD Million)
Table 62 Brazil data annotation tools market, by type, 2017 - 2030 (USD Million)
Table 63 Brazil data annotation tools market, by annotation type, 2017 - 2030 (USD Million)
Table 64 Brazil data annotation tools market, by vertical, 2017 - 2030 (USD Million)
Table 65 MEA data annotation tools market, by type, 2017 - 2030 (USD Million)
Table 66 MEA data annotation tools market, by annotation type, 2017 - 2030 (USD Million)
Table 67 MEA data annotation tools market, by vertical, 2017 - 2030 (USD Million)
List of Figures
Fig. 1 Research Process
Fig. 2 Market Formulation
Fig. 3 Data annotation tools market segmentation
Fig. 4 Global data annotation tools market 2017 - 2030 (USD Million)
Fig. 5 Data annotation tools - Process flow analysis
Fig. 6 Data annotation tools market dynamics
Fig. 7 Data annotation tools market share by type, 2023 & 2030
Fig. 8 Data annotation tools market share by annotation type, 2023 & 2030
Fig. 9 Data annotation tools market share by vertical, 2023 & 2030
Fig. 10 Regional marketplace: Key takeawaysMarket Segmentation
- Data Annotation Tools Type Outlook (Revenue, USD Million, 2017 - 2030)
- Text
- Image/Video
- Audio
- Data Annotation Tools Annotation Type Outlook (Revenue, USD Million, 2017 - 2030)
- Manual
- Semi-supervised
- Automatic
- Data Annotation Tools Vertical Outlook (Revenue, USD Million, 2017 - 2030)
- IT
- Automotive
- Government
- Healthcare
- Financial Services
- Retail
- Others
- Data Annotation Tools Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- North America Data Annotation Tools Market, By Type
- Text
- Image/Video
- Audio
- North America Data Annotation Tools Market, By Annotation Type
- Manual
- Semi-supervised
- Automatic
- North America Data Annotation Tools Market, By Vertical
- IT
- Automotive
- Government
- Healthcare
- Financial Services
- Retail
- Others
- U.S.
- U.S. Data Annotation Tools Market, By Type
- Text
- Image/Video
- Audio
- U.S. Data Annotation Tools Market, By Annotation Type
- Manual
- Semi-supervised
- Automatic
- U.S. Data Annotation Tools Market, By Vertical
- IT
- Automotive
- Government
- Healthcare
- Financial Services
- Retail
- Others
- U.S. Data Annotation Tools Market, By Type
- Canada
- Canada Data Annotation Tools Market, By Type
- Text
- Image/Video
- Audio
- Canada Data Annotation Tools Market, By Annotation Type
- Manual
- Semi-supervised
- Automatic
- Canada Data Annotation Tools Market, By Vertical
- IT
- Automotive
- Government
- Healthcare
- Financial Services
- Retail
- Others
- Canada Data Annotation Tools Market, By Type
- Mexico
- Mexico Data Annotation Tools Market, By Type
- Text
- Image/Video
- Audio
- Mexico Data Annotation Tools Market, By Annotation Type
- Manual
- Semi-supervised
- Automatic
- Mexico Data Annotation Tools Market, By Vertical
- IT
- Automotive
- Government
- Healthcare
- Financial Services
- Retail
- Others
- Mexico Data Annotation Tools Market, By Type
- North America Data Annotation Tools Market, By Type
- Europe
- Europe Data Annotation Tools Market, By Type
- Text
- Image/Video
- Audio
- Europe Data Annotation Tools Market, By Annotation Type
- Manual
- Semi-supervised
- Automatic
- Europe Data Annotation Tools Market, By Vertical
- IT
- Automotive
- Government
- Healthcare
- Financial Services
- Retail
- Others
- Germany
- Germany Data Annotation Tools Market, By Type
- Text
- Image/Video
- Audio
- Germany Data Annotation Tools Market, By Annotation Type
- Manual
- Semi-supervised
- Automatic
- Germany Data Annotation Tools Market, By Vertical
- IT
- Automotive
- Government
- Healthcare
- Financial Services
- Retail
- Others
- Germany Data Annotation Tools Market, By Type
- U.K.
- U.K. Data Annotation Tools Market, By Type
- Text
- Image/Video
- Audio
- U.K. Data Annotation Tools Market, By Annotation Type
- Manual
- Semi-supervised
- Automatic
- U.K. Data Annotation Tools Market, By Vertical
- IT
- Automotive
- Government
- Healthcare
- Financial Services
- Retail
- Others
- U.K. Data Annotation Tools Market, By Type
- France
- France Data Annotation Tools Market, By Type
- Text
- Image/Video
- Audio
- France Data Annotation Tools Market, By Annotation Type
- Manual
- Semi-supervised
- Automatic
- France Data Annotation Tools Market, By Vertical
- IT
- Automotive
- Government
- Healthcare
- Financial Services
- Retail
- Others
- France Data Annotation Tools Market, By Type
- Europe Data Annotation Tools Market, By Type
- Asia Pacific
- Asia Pacific Data Annotation Tools Market, By Type
- Text
- Image/Video
- Audio
- Asia Pacific Data Annotation Tools Market, By Annotation Type
- Manual
- Semi-supervised
- Automatic
- Asia Pacific Data Annotation Tools Market, By Vertical
- IT
- Automotive
- Government
- Healthcare
- Financial Services
- Retail
- Others
- China
- China Data Annotation Tools Market, By Type
- Text
- Image/Video
- Audio
- China Data Annotation Tools Market, By Annotation Type
- Manual
- Semi-supervised
- Automatic
- China Data Annotation Tools Market, By Vertical
- IT
- Automotive
- Government
- Healthcare
- Financial Services
- Retail
- Others
- China Data Annotation Tools Market, By Type
- Japan
- Japan Data Annotation Tools Market, By Type
- Text
- Image/Video
- Audio
- Japan Data Annotation Tools Market, By Annotation Type
- Manual
- Semi-supervised
- Automatic
- Japan Data Annotation Tools Market, By Vertical
- IT
- Automotive
- Government
- Healthcare
- Financial Services
- Retail
- Others
- Japan Data Annotation Tools Market, By Type
- India
- India Data Annotation Tools Market, By Type
- Text
- Image/Video
- Audio
- India Data Annotation Tools Market, By Annotation Type
- Manual
- Semi-supervised
- Automatic
- India Data Annotation Tools Market, By Vertical
- IT
- Automotive
- Government
- Healthcare
- Financial Services
- Retail
- Others
- India Data Annotation Tools Market, By Type
- Asia Pacific Data Annotation Tools Market, By Type
- South America
- South America Data Annotation Tools Market, By Type
- Text
- Image/Video
- Audio
- South America Data Annotation Tools Market, By Annotation Type
- Manual
- Semi-supervised
- Automatic
- South America Data Annotation Tools Market, By Vertical
- IT
- Automotive
- Government
- Healthcare
- Financial Services
- Retail
- Others
- Brazil
- Brazil Data Annotation Tools Market, By Type
- Text
- Image/Video
- Audio
- Brazil Data Annotation Tools Market, By Annotation Type
- Manual
- Semi-supervised
- Automatic
- Brazil Data Annotation Tools Market, By Vertical
- IT
- Automotive
- Government
- Healthcare
- Financial Services
- Retail
- Others
- Brazil Data Annotation Tools Market, By Type
- South America Data Annotation Tools Market, By Type
- Middle East and Africa (MEA)
- MEA Data Annotation Tools Market, By Type
- Text
- Image/Video
- Audio
- MEA Data Annotation Tools Market, By Annotation Type
- Manual
- Semi-supervised
- Automatic
- MEA Data Annotation Tools Market, By Vertical
- IT
- Automotive
- Government
- Healthcare
- Financial Services
- Retail
- Others
- MEA Data Annotation Tools Market, By Type
- North America
Data Annotation Tools Market Dynamics
Drivers:
Growing Need to Make Text/Image More Interactive and Engaging
Data annotation tools enable users to enhance the value of data by adding attribute tags. The key benefit of using the data annotation feature is that the combination of data attributes enables a user to manage the data definition at a single location and eliminates the need to rewrite similar rules in multiple places. In general, the data annotation attributes are categorized into three parts, namely modeling attributes, display attributes, and validation attributes. Modeling attributes are used to specify the relationship between classes and the intended use of a member/class. Display attributes help define the display of data from a member/class in the UI. Validation attributes help enforce validation rules. In terms of techniques, data annotation techniques are categorized into AI API-driven data annotation, data-driven data annotation, usage-based data annotation, crowdsourcing data annotation, and manual data annotation.
Rapid Penetration of AI and Machine Learning
The advent of big data is expected to drive the growth of the artificial intelligence market as a large volume of data is required to be recorded, stored, and analyzed. The need for managing and improving the computational models related to big data has become a primary concern among end users and this concern is enabling them to adopt artificial intelligence solutions at a faster pace. The adoption of artificial intelligence is expected to significantly boost the demand for data annotation tools as the annotated data acts as a catalyst to train AI models and machine learning systems in critical areas such as speech recognition and image recognition. Data annotation offers AI its strength by directly providing data that is relevant to determining future outcomes and decision-making. Many public and private organizations gather domain-specific information required for training AI models, comprising data from different applications such as national intelligence, fraud detection, marketing, medical informatics, and cybersecurity. Data annotation enables the labeling of such unorganized and unsupervised data by continuously improving the accuracy of each set of data.
Restraints:
Lack of Skilled Labor and High Cost Associated With Manual Annotation of Complex Images
The inaccuracy of data annotation acts as a restraint to the growth of the market. A given image may have low resolution and can include multiple objects. The primary challenge faced by the data annotation tools market is precise output. The issues, such as data inaccuracy, in the quality of the output, are to be minimized. Manual labeling is not correctly labeled in some cases and the time to detect such labels may vary, which further adds cost to the enterprise. However, with the development of sophisticated algorithms, the accuracy of automated data annotation tools is expected to improve, thus, reducing the dependency on manual annotation and the cost of the tools soon. The data annotation tools are required to be efficient and reliable for deriving valuable insights. Small and medium-scale enterprises sometimes encounter concerns about low marginal operations and an increased need for better quality. Additionally, a technologically advanced tool is required to be affordable and capable of providing high-quality solutions, in addition to being simple and easy to understand.
What Does This Report Include?
This section will provide insights into the contents included in this data annotation tools market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Data annotation tools market qualitative analysis
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Industry overview
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Industry trends
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Market drivers and restraints
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Market size
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Growth prospects
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Porter’s analysis
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PESTEL analysis
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Key market opportunities prioritized
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Competitive landscape
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Company overview
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Financial performance
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Product benchmarking
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Latest strategic developments
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Data annotation tools market quantitative analysis
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Market size, estimates, and forecast from 2018 to 2030
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Market estimates and forecast for product segments up to 2030
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Regional market size and forecast for product segments up to 2030
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Market estimates and forecast for application segments up to 2030
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Regional market size and forecast for application segments up to 2030
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Company financial performance
Research Methodology
A three-pronged approach was followed for deducing the data annotation tools market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for data annotation tools market to gather the most reliable and current information possible.
- We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
- We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
- We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
- We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
- We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of data annotation tools market data depending on the type of information we’re trying to uncover in our research.
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Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
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Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
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Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
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Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
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Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
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Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
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This step also entails the finalization of the report scope and data representation pattern.
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Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
Data Annotation Tools Market Categorization:
The data annotation tools market was categorized into four segments, namely type (Text, Image/Video, Audio), annotation type (Manual, Semi-supervised, Automatic), vertical (IT, Automotive, Government, Healthcare, Financial Services, Retail) and regions (North America, Europe, Asia Pacific, South America, Middle East & Africa).
Segment Market Methodology:
The data annotation tools market was segmented into type, annotation type, vertical, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Market research approaches: Bottom-up
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Demand estimation of each product across countries/regions summed up to from the total market.
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Variable analysis for demand forecast.
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Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
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Primary interviews for data revalidation and insight collection.
Market research approaches: Top-down
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Used extensively for new product forecasting or analyzing penetration levels.
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Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
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Primary interviews and vendor-based primary research for variable impact analysis.
Market research approaches: Combined
- This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.
Regional Market Methodology:
The data annotation tools market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into ten countries, namely, the U.S.; Canada; Mexico; Germany; the UK.; France; China; Japan; India; Brazil
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
Data annotation tools market companies & financials:
The data annotation tools market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
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ANNOTATE.COM - Annotate.com is a technology company that offers document collaboration and communication tools for digital workplaces. The company is an operating division of Opus 2 International Limited, a developer of collaborative analysis software. The products offered by the company are used across departments such as sales and customer management, marketing, finance, IT, R&D, human resources, and legal. The key industries the company caters to include professional services, financial services, technology, media, marketing & entertainment, government and public sector, and education. The list of the company’s more than 250,000 customers includes renowned institutions/organizations such as the University of Cambridge, FedEx, Samsung, IBM, Hyundai Motor Company, Deutsche Bank AG, and Accenture.
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APPEN LIMITED - Appen Limited provides human-annotated datasets used for enhancing video, text, speech, and image data for use in artificial intelligence and machine learning models. The company partners with governments as well as with leading eCommerce, automotive, and technology companies around the globe to help them secure the data that is needed to provide innovative services and products that rely on machine learning and natural language processing technologies. The company has access to a global crowd of over 1,000,000 skilled contractors, offers solutions in more than 130 countries, and expertise in more than 180 languages and dialects. Moreover, it has also processed more than 500,000 hours of audio and has also made more than 3 billion judgments. The company’s workforce of more than 500 employees is spread across its nine offices around the globe. The services offered by the company include annotation; a collection of image, video, speech, and text data; consultative services; content moderation; field testing of client’s project; linguistics; personalization; search relevance; secure services; transcription; and translation & localization.
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CLOUDAP - CloudApp provides a visual sharing platform that helps users share, host, and record GIFs, short videos, visuals, and images to make team conversations succinct and faster. The company has a presence across two continents and has 17 employees. The company’s platform is used by more than 3 million professionals.
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COGITO TECH LLC - Cogito Tech LLC provides training data services for artificial intelligence and machine learning algorithms. The company offers an image annotation tool data sets that are used to enhance and build various business applications. The company offers solutions that include capturing and enriching a wide variety of data types including video, image, text, and speech. The company also offers various services, including healthcare training data, chatbot training data, virtual assistant training, contact center services, transcription (including audio transcription, video transcription, and OCR transcription), visual search, content moderation, sentiment analysis, data collection, data classification, search relevance, and machine learning.
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DEEP SYSTEMS, LLC - Deep Systems, LLC offers deep learning solutions for several business sectors. The company’s primary areas of focus are recommendation systems and computer vision. Furthermore, it provides solutions for the healthcare industry and applications such as self-driving vehicles, video analysis, data mining, finance, and recommendation systems. Its product offering includes Supervise.ly and Movix.ai.
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LABELBOX, INC - Labelbox, Inc provides an AI training data labeling platform. The platform acts as an interface for human experts through which training data can be annotated for a variety of AI applications. The training data can be used to teach AI algorithms how to look for relevant signals so their accuracy can be continuously improved. The company’s product offering includes Labelbox, which is a complete training data platform for artificial intelligence. This platform is used for various applications in industries including automotive, geospatial, industrial, and insurance.
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LIGHTTAG - LightTag provides a text annotation platform that helps scientists quickly create training data for their Artificial Intelligence (AI) systems. The LighTag platform offers various features for different users and applications, including labelers, project managers, and automation (provides suggestions) by learning from the client’s team. For instance, for labelers, the platform offers features such as classifying entire documents or sections, dragging and dropping relationship interfaces, and quick annotations with the help of optimized keyboard shortcuts.
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LOTUS QUALITY ASSURANCE - Lotus Quality Assurance is a quality assurance services provider. The services offered by the company include general testing services and data annotation for AI models. With data annotation tools provided by the company for AI, a user can annotate images, with different types of lines and shapes, for various kinds of objects including trees, animals, humans, and cars. In terms of general testing services, the company offers software/hardware integration testing, mobile application testing, desktop application testing, web application testing, and hardware product testing, among others.
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PLAYMENT INC. - Playment Inc. provides a data labeling platform that generates training data for computer vision models. The company helps businesses in areas such as mapping, drones, and autonomous vehicles, and with high-precision annotation services. The company’s platform is powered by a trained workforce of more than 300,000 users. Furthermore, it is used by various research institutions and businesses such as the University of Illinois Urbana-Champaign (UIUC), Cyngn Inc., Starsky Robotics, and Drive.AI. The company’s platform supports multiple annotation types, including segmentation (yet to be launched), point annotations, polylines, polygons, cuboids, and bounding boxes for both video and image data types.
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TAGTOG SP. Z O.O. - Tagtog Sp. z o.o. is a software company that focuses on democratizing text analytics. This analytics is accessible to data scientists and software developers as well as to domain experts. Its text annotation platform allows users to utilize text as domain-specific insights efficiently. Furthermore, with the help of the platform, a user can generate high-quality data for their Neuro-linguistic programming (NLP) algorithms. The company also provides manual text annotation services as per the client's requirements. It works with international clients in the public and private sector, including Fortune 500 companies.
Value chain-based sizing & forecasting
Supply Side Estimates
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Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
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Segment revenue determination via variable analysis and penetration modeling.
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Competitive benchmarking to identify market leaders and their collective revenue shares.
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Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
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Identifying parent markets and ancillary markets
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Segment penetration analysis to obtain pertinent
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revenue/volume
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Heuristic forecasting with the help of subject matter experts
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Forecasting via variable analysis
Data Annotation Tools Market Report Objectives:
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Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
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Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
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Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
Data Annotation Tools Market Report Assumptions:
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The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
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The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
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We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
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All market estimates and forecasts have been validated through primary interviews with the key industry participants.
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Inflation has not been accounted for to estimate and forecast the market.
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Numbers may not add up due to rounding off.
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Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
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Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
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Latin America includes Central American countries and the South American continent
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Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
Primary Research
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
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Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
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Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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