ICT companies are widely adopting technologies such as cloud computing and artificial intelligence to ensure seamless operations as teams continue to work from home. The emphasis on rapid automation, the use of real-time operation in various end-use sectors such as automotive, food and beverage and others will drive growth.
The report offers actionable and valuable insights into the Data Annotation Tool market. The latest report from Fact.MR provides details about the current market scenario across different regions along with the historical data and forecast of the market. The report also includes information on sales and demand for the Data Annotation Tools market across various industries and regions.
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The global data annotation tools market is expected to expand at a CAGR of 15.1% during the forecast period from 2022 to 2032. The market is expected to be valued at US$1.3 billion by the end of 2022, and is expected to reach US$5.3 billion by 2032.
|Expected market value for 2022||US$1.3 billion|
|Market value projected for 2032||US$5.3 billion|
|Growth rate (2022-2032)||CAGR of 15.1%|
Market research by Fact.MR gives exclusive insights on market growth. The study identifies crucial trends driving the growth of the Data Annotation Tools market. This newly released report sheds light on vital dynamics, such as drivers, restraints, and opportunities for major market players as well as emerging players associated with production and supply. Fact.MR Latest Report Provides Detailed Analysis of Data Annotation Tool Market
This newly published and insightful report sheds light on the Data Annotation Tool Market insights, key dynamics, their impact on the overall value chain from vendors to end users and the Tool Market growth. data annotation..
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Global Data Annotation Tools Market: In-Depth Assessment of Key Segments
The global data annotation tools market is segmented on the basis of data type, annotation type, vertical, and region.
- Health care
- Financial services
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East and Africa
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Key insights from market research
- The global data annotation tools market is expected to grow at a CAGR of 15.1% during the forecast period from 2022 to 2032.
- The manual annotation segment is expected to acquire a 76% market share over the forecast period.
- The automatic annotation tools segment is expected to witness the highest growth trajectory while expanding at a CAGR of 17% during the forecast period.
- North America is expected to capture 32% of the global market share, growing at a CAGR of 13%
- South Asia and the Pacific will see the fastest growth, registering a CAGR of 18% through 2032
“The increased adoption of AI and machine learning in the healthcare sector can play an important role in driving the market. Additionally, the COVID-19 outbreak has presented various expansion opportunities to the market. – says an analyst from Fact.MR.
Market players are focused on expanding their market through the adoption of various methods such as; acquisition, partnership, expansion and brand development. The major players are taking various initiatives to make their products unique from their competitors.
- In May 2021, CloudApp, a cross-platform platform for the modern workplace, announced the partnership with Slack and Atlassian Jira and Confluence products.
- In August 2021, Appen Limited, an Australian company that provides high-quality training data for organizations, disclosed its intention to acquire Quadrant, a renowned player in mobile location data, related compliance services and data. Pint of Interest.
- In July 2021, TELUS International, a recognized digital customer experience innovator that delivers next-generation solutions, announced its intention to acquire Bangalore-based Playment, a well-known player in the field of annotation annotation tools. data and computer vision, specializing in 2D and 3D tools. .
Read more trend reports from Fact.MR- https://www.globenewswire.com/news-release/2022/03/09/2400432/0/en/Low-Code-Development-Industry-is-Projected-to-Achieve-a-Global-Market-Size- of-US-187-Bn-by-2032-Currently-US-Accounts-For-the-Largest-Market-Share-in-the-World.html
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Fact.MR, in its new report, offers an unbiased analysis of the Data Annotation Tool Market, Sales and Demand for Data Annotation Tool, analyzing the forecast statistics till 2019 and at -of the. The study reveals growth projections based on various criteria.
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