Dublin, Aug. 25, 2020 (GLOBE NEWSWIRE) -- The "Data Annotation Tools Market to 2027 - Global Analysis and Forecasts by Type; Annotation Type; End-user" report has been added to ResearchAndMarkets.com's offering.
The global data annotation tools market was valued at US$ 695.5 million in 2019 and is projected to reach US$ 6,450.0 million by 2027; it is expected to grow at a CAGR of 32.54% from 2020 to 2027.
The process of data annotation includes labeling of data which makes it usable for machine learning. Data annotation tools are important for data scientists as they make use of the labeled data with machine learning algorithms. Data can be in any form, such as images (from cars, phones, or medical instruments), text (in English, Spanish, Chinese, and among others), audio, and video. There are different types of annotation techniques like polygon annotation, semantic segmentation, bounding box annotation, landmark annotation, polylines annotation, and 3D point cloud annotation. In house teams can label the data if it is a small set, but this can be time consuming. When large amount of data is to be annotated, it is outsourced to companies like Precise BPO Solution, who can handle millions of annotations in a week and it significantly saves time. Further, the increasing investments by various market players in data annotation techniques in order to offer high quality labeled data are expected to play a significant role in the growth of the market.
The applications of data annotation are growing strongly across the globe. Face detection and recognition is one of the major applications of data annotation. Countries across the globe are implementing various facial technologies to create social status and award penalties for public menace to its citizens. For instance, China has installed 200 million surveillance cameras, one camera for every seven of its citizens. It plans to install about 400 million new cameras by 2021 in the country, for security and traffic control purposes.
The market for data annotation tools has been segmented into type, annotation type, end user, and geography. Based on type, the data annotation tools market has been segmented into text, image, and others. Based on annotation type, the data annotation tools market has been segmented into manual, semi-supervised, and automatic. Based on end user, the data annotation tools market has been segmented into automotive, government, healthcare, financial services, retail, IT & telecom, and others. Geographically, the data annotation tools market is segmented into five regions: North America, Europe, APAC, MEA, and South America.
Appen Limited, CloudFactory Limited, Cogito, Deep Systems, Google LLC, Labelbox, Inc, LIGHTTAG, Tagtog Sp. z o.o., PLAYMENT INC., and SCALE AI, INC. are some of the well-established market players present in the global data annotation tools market.
Reasons to Buy:
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the data annotation tools market, thereby allowing players to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to components, aircraft type, and end-users.
Key Topics Covered:
1. Introduction
1.1 Study Scope
1.2 Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Data Annotation Tools Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 APAC PEST Analysis
4.2.4 MEA PEST Analysis
4.2.5 SAM PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Data Annotation Tools Market - Key Industry Dynamics
5.1 Drivers
5.1.1 Growing Applications of Data Annotation
5.1.2 Increasing Investments by Market Players
5.2 Market Restraints
5.2.1 Lack of Skilled Labor and Disadvantages Associated with Annotation Techniques
5.3 Market Opportunities
5.3.1 Trend of e-Education Across the world
5.4 Future Trends
5.4.1 Increasing Organic Development by Market Players
5.5 Impact Analysis of Drivers and Restraints
6. Data Annotation Tools Market - Global Market Analysis
6.1 Data Annotation Tools Market Overview
6.2 Data Annotation Tools Market -Revenue, and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Global Key Players
7. Data Annotation Tools Market Analysis - By Type
7.1 Overview
7.2 Global Data Annotation Tools Market Breakdown, By Type, 2017 & 2027
7.3 Text
7.3.1 Overview
7.3.2 Text Market Revenue and Forecast to 2027 (US$ Mn)
7.4 Image
7.4.1 Overview
7.4.2 Image Market Revenue and Forecast to 2027 (US$ Mn)
7.5 Others
7.5.1 Overview
7.5.2 Others Market Revenue and Forecast to 2027 (US$ Mn)
8. Data Annotation Tools Market Analysis - By Annotation Type
8.1 Overview
8.2 Global Data Annotation Tools Market Breakdown, By Annotation Type, 2017 & 2027
8.3 Manual
8.3.1 Overview
8.3.2 Manual Market Revenue and Forecast to 2027 (US$ Mn)
8.4 Semi-Supervised
8.4.1 Overview
8.4.2 Semi-Supervised Market Revenue and Forecast to 2027 (US$ Mn)
8.5 Automatic
8.5.1 Overview
8.5.2 Automatic Market Revenue and Forecast to 2027 (US$ Mn)
9. Data Annotation Tools Market Analysis - By End User
9.1 Overview
9.2 Global Data Annotation Tools Market Breakdown, By End User, 2017 & 2027
9.3 Automotive
9.3.1 Overview
9.3.2 Automotive Market Revenue and Forecast to 2027 (US$ Mn)
9.4 Healthcare
9.4.1 Overview
9.4.2 Healthcare Market Revenue and Forecast to 2027 (US$ Mn)
9.5 Government
9.5.1 Overview
9.5.2 Government Market Revenue and Forecast to 2027 (US$ Mn)
9.6 Financial Services
9.6.1 Overview
9.6.2 Financial Services Market Revenue and Forecast to 2027 (US$ Mn)
9.7 Retail
9.7.1 Overview
9.7.2 Semi-Supervised Market Revenue and Forecast to 2027 (US$ Mn)
9.8 IT and Telecom
9.8.1 Overview
9.8.2 IT and Telecom Market Revenue and Forecast to 2027 (US$ Mn)
9.9 Others
9.9.1 Overview
9.9.2 Others Market Revenue and Forecast to 2027 (US$ Mn)
10. Data Annotation Tools Market - Geographic Analysis
10.1 Overview
10.2 North America: Data Annotation Tools Market
10.3 Europe: Data Annotation Tools Market
10.4 APAC: Data Annotation Tools Market
10.5 MEA: Data Annotation Tools Market
10.6 SAM: Data Annotation Tools Market
11. Industry Landscape
11.1 Overview
11.2 Growth Strategies Done By the Companies in the Market, (%)
11.3 Organic Developments Done By The Companies In The Market
11.4 Inorganic Developments Done By The Companies In The Market
12. COMPANY PROFILES
12.1 Cogito
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Google LLC
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Deep Systems
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Appen Limited
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Labelbox, Inc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 LightTag
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 PLAYMENT INC.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Scale AI, Inc.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Tagtog Sp. z o.o.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 CloudFactory Limited
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About the Publisher
13.2 Glossary of Terms
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