Data Collection And Labeling Market Size, Share And Growth Analysis For 2024-2033
Global Data Collection AndLabeling Market Size, Trends, And Forecast 2024-2033
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LONDON , GREATER LONDON , UNITED KINGDOM, September 30, 2024 /EINPresswire.com/ — The data collection and labeling market has experienced robust growth in recent years, expanding from $2.86 billion in 2023 to $3.62 billion in 2024 at a compound annual growth rate (CAGR) of 26.4%. The growth in the historic period can be attributed to regulatory compliance, quality assurance, industry-specific needs, training data for ai models, outsourcing trends.
What Is TheEstimated Market Size Of The Global Data Collection And Labeling MarketAnd Its Annual Growth Rate?
The data collection and labeling market is projected to continue its strong growth, reaching $9.28 billion in 2028 at a compound annual growth rate (CAGR) of 26.5%. The growth in the forecast period can be attributed to evolving regulations, increasing ai adoption, demand for specialized labeling, rising complexity of data, globalization of data labeling services.
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Growth Driver of The Data Collection AndLabeling Market
The increasing adoption of autonomous vehicles is expected to propel the growth of the data collection and labeling market going forward. Autonomous vehicles are vehicles that can sense their surroundings and navigate without human intervention or insight. Data collection and labeling is an important technique for self-driving cars because it allows them to recognize patterns in data and properly categorize them in order to make correct and safe decisions on the road and respond to different objects and scenarios on the road, such as pedestrians, other vehicles, and traffic signs.
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Which Market Players Are Driving TheData Collection And Labeling Market Growth?
Key players in the market include Reality Analytics Inc., Globalme Localization Inc., Global Technology Solutions Inc., Alegion Inc., Labelbox Inc., Dobility Inc., Scale AI Inc., Trilldata Technologies Pvt. Ltd., Appen Limited, Playment Inc., Avery Dennison Corporation, Summa Linguae Technologies SA, SuperAnnotate AI Inc., Keylabs.ai Ltd., V7Labs Ltd., Datasaur Inc., Dataloop Ltd., CloudFactory Limited, Clarifai Inc., International Business Machines Corp., Oracle Corp., TELUS International, Amazon Mechanical Turk, Cogito Corp., Prodigy Math game India Pvt. Ltd., iMeritTechnology Services Pvt Ltd., Snorkel AI Inc., Hive Digital Technologies Ltd., Samasource Group, Figure Eight Inc.
What Are TheKey Trends That Influence Data Collection And Labeling Market Share Analysis?
Major companies operating in the beer packaging market are investing in data labelling to drive revenues in the data collection and labelling market. The funding would help Centaur Labs expand its operations and enhance its capabilities to meet the increasing demand for high-quality training data in the healthcare industry.
How Is TheGlobal Data Collection And LabelingMarket Segmented?
1) By Data Type: Text, Image Or Video, Audio
2) By Application: Dataset Management, Security And Compliance, Data Quality Control, Workforce Management, Content Management, Catalogue Management, Sentiment Analysis, Other Applications
3) By Vertical: Information Technology(IT), Automotive, Government, Healthcare, Banking, Financial Services and Insurance (BFSI), Retail And E-commerce, Other Verticals
Geographical Insights: North America Leading TheData Collection And LabelingMarket
North America was the largest region in themarket in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Data Collection AndLabeling Market Definition
Data collection and labeling are the processes of gathering and organizing relevant data for use in artificial intelligence (AI) and machine learning (ML) models. Data collection involves gathering relevant data from a variety of sources, such as cameras, voice recorders, surveys, and web scraping, to create a comprehensive dataset. Data labeling is the process of compiling collected data with relevant information or labels to provide context to the dataset.
Data Collection AndLabeling Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global data collection and labeling market report covering trends, opportunities, strategies, and more
The Data Collection And Labeling Global Market Report 2024by The Business Research Company is the most comprehensive report that provides insights on data collection and labeling market size, data collection and labeling market driversand trends, data collection and labeling market major playersand data collection and labeling market growth across geographies. Thisreport helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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