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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Data Annotation Tools Market Outlook
The global data annotation tools market size was estimated at USD 658.46 million in 2023. The data annotation tool market is projected to record a CAGR of 27.0% between 2024 and 2032. The market growth is largely attributed to the increased adoption of software for image data annotation in the automotive, retail, and healthcare sectors.
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Market Segmentation
Data annotation is the method of labelling data for machine learning purposes. The data annotation tools industry can be divided based on segments like types, technologies, and applications.
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The industry can be broadly categorised based on types into:
- Text
- Image
- Video
Based on technology, the industry can be categorised as:
- Manual
- Semi-Supervised
- Automatic
The industry can be divided based on its application segments as:
- Automotive
- Healthcare
- BFSI
- Retail
- Government
- Transportation and Logistics
The EMR report looks into the regional data annotation tool markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Market Analysis
The tools for data annotation enable users to enhance data quality by adding or marking attribute tags to it. The major benefit of using these tools is that the combination of data features allow users to handle data interpretation at a single location and eliminates the need for multiple locations to rewrite similar rules. The growth of big data and the increase in the number of large datasets would probably require the use of artificial intelligence technology in the field of data annotation. Due to the extending reach of data labelling, industries developing AI-enabled healthcare applications are partnering with data annotation companies to provide the necessary data sets to help them improve their machine learning and deep learning skills, thus, aiding the growth of the data annotation tools market.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global data annotation tools market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Annotate.com
- Appen Limited
- CloudApp
- Cogito Tech LLC
- Deep Systems
- Labelbox, Inc
- LightTag
- Lotus Quality Assurance
- Tagtog Sp. z o.o.
- D-Link
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter's Five Forces.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Technology |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global data annotation tools market attained a value of nearly USD 658.46 million.
The market is projected to grow at a CAGR of more than 27% between 2024 and 2032.
The major drivers of the market include the rising number of large datasets, increase in investments in the development of autonomous driving technologies, surge in penetration of artificial intelligence and machine learning technology, and geographical expansion strategies undertaken by market vendors.
The increased adoption of software for image data annotation in the automotive, retail, and healthcare sectors and growth of big data are the key trends propelling the market's growth.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The market can be broadly categorised based on types into text, image, and video.
The various technologies involved in the market are manual, semi-supervised, and automatic.
The major applications of the market are automotive, healthcare, BFSI, retail, government, and transportation and logistics.
The major players in the market are Annotate.com, Appen Limited, CloudApp, Cogito Tech LLC, Deep Systems, Labelbox, Inc, LightTag, Lotus Quality Assurance, Tagtog Sp. z o.o., and D-Link, among others.
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