Data Annotation Tools Market

Data Annotation Tools Market by Tools Type (Image/Video, Text, and Audio), Annotations Type (Semi-supervised, Manuel, and Automatic), Verticals (Automotive, Healthcare, Retail, IT, Government, Financial Services, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Size, Trends, Forecasts, 2021 – 2028

  • Report ID: ICT-SE-3514
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 170
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The global data annotation tools market size was valued at USD 630 million in 2019, and is anticipated to register a CAGR 27.5% during the forecast period, 2021-2028, and expected to grow to USD 3.7 billion in 2028. The growth of the market is attributed to growing need informative data annotation tools.

Data Annotation Tools Market Key Takeaways

Data Annotation tools are essential for AI applications this is labeling and categorization of data. For training, data must be properly organized and additionally annotated for a specific use case. With such high-quality, human-powered, and AI driven data annotation, companies can build and improve machine learning implementations.

The pandemic have forced the governments around the world to impose lockdown and close down offices, schools, and colleges. This has resulted, in companies implementing work from home (WFH) policy. Also schools and colleges have been forced to continue education and regular classes by using online platforms. The global online retail market has therefore seen a boom due to the pandemic, not only because of WFH policies which are adopted by companies, but also increasing use of internet and mobile telecommunication platforms for daily business operations and many more stay-at-home activities. This has ultimately led to increased online transactions, and people are preferring it more because of safety reasons. Most of the online e-commerce websites and healthcare systems have also seen a huge growth during this pandemic. This has led to more and more adoption of automated annotation tools.

Market Drivers, Restraints, and Opportunities

  • Cost-effectiveness of annotation tools and its major key benefits of the healthcare segment is a major factor driving the market.
  • Increasing efficiency of AI and related technologies is one of the major driving factor for annotation market over the forecast period.
  • The inaccuracy of data annotation tools act as a major restraint factor for data annotation market growth.
  • Increasing threat of cyber-attacks because of increased data manipulations and huge datasets hampers the market growth.
  • Increasing demand for fast, and efficient annotation services is expected to create lucrative opportunities during the forecast period.

Scope of the Report

The report on the global data annotation tools market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Data Annotation Tools Market – Global Geographical Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2016–2018

Forecast Period

2020–2028

Segmentation

Type (Image/Video, Text, and Audio), Annotation Type (Semi-supervised, Manuel, and Automatic), Verticals (Automotive, Healthcare, Retail, IT, Government, Financial Services, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Amazon Mechanical Turk, Inc.; APPEN LIMITED; Clickworker GmbH; Cogito; Dbrain; LightTag; Lionbridge Technologies; Inc.; Google LLC; Alegion; Playment Inc.; Scale AI, Inc.; and Tagtog Sp. Z.o.o.

Market Segment Insights

Text segment is expected to expand at a rapid pace during the forecast period

On the basis of types, the market is segregated into text, image/video, and audio. The text segment dominated the market and accounted for the major market share of over 37.0% in 2020. The image/video segment is anticipated to dominate the market over the forecast period. A number of the key application, such as image data annotation are being used in medical business within the field of medical imaging. The text section is anticipated to expand at a rapid pace during the forecast period, owing to the rising applications in e-commerce and clinical analysis applications. The audio segment is anticipated to expand at a high CAGR during the forecast period. Foe instance, in April 2021, Zoom, a video telephony software system, declared the launch of various updates to its platforms like increased screen annotation, advanced hardware solutions for zoom rooms, enlarged management skills for zoom chat, and advancement in user expertise based on client feedback.

Data Annotation Tools Market By Tools Type

The automated annotation segment is expected to expand rapidly

Based upon annotation type, the market is categorised into manual, semi-supervised, and automatic. The manual segment dominated the market and accounted for the major revenue share of over 82.0% in 2020. Manual data annotation is a method of labeling or annotating any knowledge by humans. When compared to automatic annotation, which can later be included into an algorithm, the approach is popular due to benefits such as correctness, high level of integrity, low data annotation efforts, and a higher probability of discovering fascinating insights pertaining to the data.. The automated annotation segment is anticipated to expand at a rapid pace duirng the forecast period. AI is becoming increasingly important in the data annotation sector because it enables the extraction of high-level and sophisticated abstractions from datasets through a hierarchical learning process.. The demand for automatic data annotation tools is likely to increase as the necessity for mining and extracting significant patterns from massive data grows.

The healthcare segment is expected to grow at a considerable pace

Based on vertical, the market is divided into IT, automotive, government, healthcare, financial services, retail, and others. The IT segment dominated the data annotation tools market and accounted for the major market share of around 31.0% in 2020. The healthcare segment is anticipated to grow at a considerable pace over the forecast period. Treatment prediction, diagnostic automation, medication development, and gene sequencing are just a few of the applications where AI is employed in healthcare.. The data sets in healthcare are needed to be trained with machine learning algorithms. The effectiveness and accuracy of the algorithm for generating AI-based applications is heavily influenced by the quality of the training.

Data Annotation Tools Market By Vertical

Asia Pacific is anticipate to dominate the market

On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominated the market and accounted for major market share of around 36.0% in 2020. owing to fast product and geographical growth strategy undertaken by market vendors so as to realize an edge within the market. Asia Pacific is anticipated to dominate the market during the forecast period. Further, rising economies within the Asia Pacific, are holding important potential for the widespread adoption of data annotation tools, notably within the health care and financial services sectors. The expansion of the health care business within the region is marked by increasing adoption of technology and innovative health care access programs.

Segments

Segments Covered in the Report
The global data annotation tools market has been segmented on the basis of

Type
  •  
  • Text
  • Image/Video
  • Audio
Annotation Type
  •  
  • Manual
  • Semi-supervised
  • Automatic
Vertical
  •  
  • IT
  • Automotive
  • Government
  • Healthcare
  • Financial Services
  • Retail
  • Others
Regional
  •  
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East and Africa
Key Players
  •  
  • Amazon Mechanical Turk, Inc.
  • APPEN LIMITED
  • Clickworker GmbH
  • Cogito
  • Dbrain
  • LightTag
  • LightTag
  • Lionbridge Technologies
  • Google LLC
  • Playment Inc.
  • Scale AI, Inc.
  • Tagtog Sp. z o.o.

Competitive Landscape

Key players market include Annotate.com, CloudApp, Appen Limited, Cogito Tech LLC, Labelbox, Inc., Deep Systems, Lotus Quality Assurance, LightTag, Playment Inc. CloudFactory Limited, Tagtog Sp. z o.o, Amazon Mechanical Turk, Inc., ClickWorker GmbH, Trilldata Technologies Pvt Ltd, Google LLC, Lionbridge Technologies, Inc., and Mighty AI, Inc. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Data Annotation Tools Market By Key Players
 

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Data Annotation Tools Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Data Annotation Tools Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Data Annotation Tools Market - Supply Chain
  4.5. Global Data Annotation Tools Market Forecast
     4.5.1. Data Annotation Tools Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Data Annotation Tools Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Data Annotation Tools Market Absolute $ Opportunity
5. Global Data Annotation Tools Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Data Annotation Tools Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Data Annotation Tools Demand Share Forecast, 2019-2026
6. North America Data Annotation Tools Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Data Annotation Tools Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Data Annotation Tools Demand Share Forecast, 2019-2026
7. Latin America Data Annotation Tools Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Data Annotation Tools Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Data Annotation Tools Demand Share Forecast, 2019-2026
8. Europe Data Annotation Tools Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Data Annotation Tools Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Data Annotation Tools Demand Share Forecast, 2019-2026
9. Asia Pacific Data Annotation Tools Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Data Annotation Tools Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Data Annotation Tools Demand Share Forecast, 2019-2026
10. Middle East & Africa Data Annotation Tools Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Data Annotation Tools Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Data Annotation Tools Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Data Annotation Tools Market: Market Share Analysis
  11.2. Data Annotation Tools Distributors and Customers
  11.3. Data Annotation Tools Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Amazon Mechanical Turk, Inc. APPEN LIMITED Clickworker GmbH Cogito Dbrain LightTag  
Segments Covered in the Report
The global data annotation tools market has been segmented on the basis of

Type
  •  
  • Text
  • Image/Video
  • Audio
Annotation Type
  •  
  • Manual
  • Semi-supervised
  • Automatic
Vertical
  •  
  • IT
  • Automotive
  • Government
  • Healthcare
  • Financial Services
  • Retail
  • Others
Regional
  •  
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East and Africa
Key Players
  •  
  • Amazon Mechanical Turk, Inc.
  • APPEN LIMITED
  • Clickworker GmbH
  • Cogito
  • Dbrain
  • LightTag
  • LightTag
  • Lionbridge Technologies
  • Google LLC
  • Playment Inc.
  • Scale AI, Inc.
  • Tagtog Sp. z o.o.

Key players market include Annotate.com, CloudApp, Appen Limited, Cogito Tech LLC, Labelbox, Inc., Deep Systems, Lotus Quality Assurance, LightTag, Playment Inc. CloudFactory Limited, Tagtog Sp. z o.o, Amazon Mechanical Turk, Inc., ClickWorker GmbH, Trilldata Technologies Pvt Ltd, Google LLC, Lionbridge Technologies, Inc., and Mighty AI, Inc. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Data Annotation Tools Market By Key Players
 

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