Data Collection and Labeling Market: Insights by Data Type
Data collection and labeling is an AI-driven data process used to categorize, classify, and identify the data collected to create powerful algorithms. The labeled data is passed to machine learning software to train the software on the properties of the data. After completing the machine learning with the available information, the unlabeled data is sorted by the machine learning stimulator to provide consumers with operational results. The use of data collection and labeling across multiple industries such as healthcare, manufacturing facilities, automotive and business for data organization and automated data management is expected to drive the market .
The global data collection and labeling market is expected to grow at a healthy CAGR of 23.75% during the forecast period 2020-2027. The data collection and labeling market size is estimated to be $ 0.7 billion by the end of 2020. Further, the growth is attributed to several factors and the extensive implementation of the data collection and labeling in some crucial sectors like manufacturing, healthcare and automotive.
According to Straits analysis, the increasing use of social media, sharing audio, video and data in descriptive text format have become more contextual in different applications, increasing the demand for the implementation of data collection. data and labeling. This feature improves the safety of operations, identifies the problem and sorts the visual or audio data to use the collected data in various applications.
North America is expected to retain strong market share after market assessment. The adoption of AI services in several end-use sectors and the increased consumer use of smart devices and smart services in the region offers substantial opportunities for the market. In addition, the huge influx of operations by manufacturers in the region facilitates access to technology and diverse product line with cost effective solutions.
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Asia-Pacific is expected to register a rapid growth rate in the market due to the high level of technological integration in different end-use sectors and increase the demand for smartphones and the development of the use of smartphones to promote the market developments. Adoption of IoT and Artificial Intelligence techniques to propel the market at a significant rate
The data collection and labeling market is categorized as a market with optimistic potential for market development with increasing applications in a variety of end-use industries that are leveraging the benefits of AI technologies. and the stimulation of machine learning. The development of specific data collection and labeling service providers provides the products considering vital requirement factors before purchasing products to develop traction towards the products of these manufacturers. Factors to consider are the complexity of the use case, the time setting for system development, the size of the organization, the structure of the IT and data science team, and the training data available. .
The main players identified throughout the value chain are Globalme Localization Inc., Trilldata Technologies Pvt Ltd, Alegion and Reality AI. These players are contributing to a promising share in the global data collection and labeling market. The market is classified as an emerging market due to the need to raise awareness of the benefits of using technology. In addition, suppliers in the global market are also trying to consolidate their commercial presence in different regions of the market by working on finalizing acquisitions and collaborations to reach better customer base with the ability to serve more customers at a quality time of the day. ‘business.
Besides the market players listed above, some other market players active in the data collection and labeling market are Dobility, Inc., Global Technology Solutions, Playment Inc., Appen Limited, Labelbox. Inc, Scale AI, Avery Dennison Corporation, Summa Linguae Technologies SA, among others.
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Data Collection and Labeling Market: Segmentation
By data type
Image / Video
E-commerce and retail
Key points of the Data Collection and Labeling Market report:
– Estimation and forecasting of regional demand
– Before fluctuations in commodity prices
– Analysis of the technological update
– Raw material sourcing strategy
– Competition analysis
– Product portfolio matrix
– Management of suppliers
– Cost-benefit analysis
– Supply chain optimization analysis
– Patent analysis
– Market study and development analysis
– Mergers and Acquisitions
The rest of europe
The Middle East and Africa (MEA)
Rest of the MEA
Rest of Asia-Pacific
Central and South America and the Caribbean
Rest of South America
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