Global Data Annotation Tools Market and Segment Forecasts, 2021-2028: $ 3.4 billion by 2028 with a CAGR of 27% forecast for 2021-2028 – ResearchAndMarkets.com

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DUBLIN – (BUSINESS WIRE) – The “Global Data Annotation Tools Market Analysis Report By Type (Text, Image / Video, Audio), By Annotation Type (Manual, Automatic, Semi-Supervised), By Industry, By Region, And Segment Forecasts, Report 2021-2028” was added to ResearchAndMarkets.com to offer.

The global data annotation tools market size is projected to reach US $ 3.4 billion by 2028. The market is expected to grow at a CAGR of 27.1% from 2021 to 2028.

The advent of big data is expected to drive the growth of the artificial intelligence market as it requires a large amount of information to be recorded, stored, and analyzed. The adoption of Artificial Intelligence is expected to significantly boost market growth as the annotated information serves as a catalyst to train AI models and machine learning systems in critical areas such as speech recognition and image recognition. These tools give AI its power by directly providing information relevant to determining future outcomes and decision making.

There is currently a growing trend in the automotive industry to manufacture autonomous vehicles that is attracting greater investment in the development of these vehicles. An autonomous vehicle contains a combination of various sensors and network systems that support the computer while driving the vehicle. The annotated information enables autonomous vehicle computer models to recognize it and learn from it. Several technology providers such as Google LLC; Tesla engines; Apple Inc .; and Huawei Technologies Co., Ltd. have also entered the autonomous vehicle market. The increasing investment in the autonomous driving market is expected to fuel future demand in the data annotation market.

Highlights of the data annotation tools market report

  • It is expected that the increasing demand for machine learning in automated data analysis will increase the demand for automatic information labeling tools in various data-driven applications. In addition, an increasing focus on image annotation is expected to improve the business of the automotive, retail and healthcare industries, thereby fueling market growth

  • In terms of annotation type, the manual segment generated the largest share of revenue in 2020. The attributes such as accuracy, ability to capture marginal cases and intelligent personnel are efficient enough to ensure high quality with large amounts of data. This makes manual annotation tools ideal for training machine learning algorithms for computer vision applications

  • Information labeling tools are finding increasing acceptance in the automotive industry, particularly in the case of self-driving vehicles. In order to create the training data sets for such highly sensitive visual perception models in autonomous vehicles, high-resolution cameras, LIDAR sensors and a huge amount of information are required

Key topics covered:

Chapter 1 Methodology and Scope

Chapter 2 Summary

Chapter 3 Market Variables, Trends, and Scope of Data Annotation Tools

Chapter 4 Data Annotation Tools: Type Outlook. a

Chapter 5 Data Annotation Tools: Outlook Annotation Type

Chapter 6 Data Annotation Tools: Vertical Outlook

Chapter 7 Data Annotation Tools: Regional Outlook

Chapter 8 Competitive Landscape

  • ANNOTATE.COM

  • APPEN LIMITED

  • CLOUDAPP

  • COGITO TECH LLC

  • DEEP SYSTEMS, LLC

  • LABELBOX, INC

  • LIGHT DAY

  • LOTUS QUALITY ASSURANCE

  • GAMES INCL.

  • TAGTOG SP. Z OO

  • CLOUDFACTORY LIMITED

  • CLICKWORKER GMBH

  • ALEGION

  • FIGURE EIGHT INCL.

  • AMAZON MECHANICAL TURK, INC.

  • EXPLOSION AI GMBH

  • MIGHTY AI, INC.

  • TRILLDATA TECHNOLOGIES PVT LTD

  • Google LLC

  • LIONBRIDGE TECHNOLOGIES, INC.

  • SUPERANNOTATE LLC

Please visit https://www.researchandmarkets.com/r/vwswxm for more information on this report

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