New Market Research Expert Report titled “Global Data Annotation Tools Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026”, gives an in-depth analysis of the global data annotation tools market, assessing the market based on its segments such as type, technology, application and major regions. The report follows the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, and analyzes the market based on Porter’s SWOT and Five Forces models.
Note 1: For an overview of primary and secondary market data (2016-2026), along with business strategies and detailed market segmentation, please click on the sample demand report. The sample report will be delivered to you within 24 hours.
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The main highlights of the report include:
Market Overview (2016-2026)
• Historical market size (2020): 321.45 million USD
• Forecast CAGR (2021-2026): 27%
Growing investments in the development of autonomous driving technologies, increasing demand for annotated data to improve machine learning models, increasing adoption of data annotation for medical imaging data, increasing adoption of text annotation for document classification and growing demand for annotated data to improve machine learning of models.
Definition of the industry and main segments
Data annotation is the method of labeling data for machine learning purposes.
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The industry can be broadly classified according to types into:
On the basis of technology, the industry can be classified as follows:
The industry can be divided according to its application segments as follows:
• Health care
• Transport and logistics
Global Data Annotation Tools Market Regions Include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Users can improve data quality by adding or tagging attribute tags with data annotation tools. The main advantage of using these tools is that the combination of data functionality allows users to manage the interpretation of data in a single area, eliminating the need to rewrite similar rules in many places. The rise of big data and the amount of huge datasets will almost certainly require the application of artificial intelligence in the realm of data annotation. As the reach of data labeling expands, companies building AI-powered health applications are collaborating with data annotation companies to deliver the essential data sets to help them improve their business. machine learning and deep learning skills, thus driving the market for data annotation solutions.
Key market players
The major players in the market are Annotate.com, Appen Limited, CloudApp, Cogito Tech LLC, Deep Systems, Labelbox, Inc, LightTag, Lotus Quality Assurance, Playment Inc., Tagtog Sp. Z oo, D-Link and others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are continuously monitoring the impact of this rapidly changing situation on markets and consumer buying behaviors. Thus, our latest estimates and analyzes on current market trends and forecasts will comprehensively reflect the effects of this emerging pandemic.
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