Expert Market Research’s new report titled “Global Data Annotation Tools Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026”, gives an in-depth analysis of the global market. Data Annotation Tools Market, assessing the market based on its segments such as type, technology, application and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
• Historical market size (2020): 321.45 million USD
• Forecast CAGR (2021-2026): 27%
Increasing investment in the development of autonomous driving technologies, increasing demand for annotated data to improve machine learning models, increasing adoption of data annotation for medical imaging data, increasing adoption of text annotation for document classification and growing demand for annotated data to improve machine learning of models.
Industry definition and major segments
Data annotation is the method of labeling data for machine learning purposes.
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The industry can be broadly categorized based on types into:
On the basis of technology, the industry can be categorized as follows:
The industry can be divided based on its application segments as follows:
• Health care
• Transport and logistics
Global Data Annotation Tools Market Regions Include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Users can improve data quality by adding or marking attribute tags with data annotation tools. The main advantage of using these tools is that the combination of data functionality allows users to manage data interpretation in a single domain, eliminating the need to rewrite similar rules in many places. The rise of big data and the amount of huge datasets will almost certainly require the application of artificial intelligence in the field of data annotation. As the scope of data labeling expands, companies building AI-based health applications are cooperating with data annotation companies to provide the essential datasets to help them improve their skills in machine learning and deep learning, thereby driving the market for data annotation solutions.
Main market players
Major market players include Annotate.com, Appen Limited, CloudApp, Cogito Tech LLC, Deep Systems, Labelbox, Inc, LightTag, Lotus Quality Assurance, Playment Inc., Tagtog Sp. z oo, D-Link and others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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