Global Data Collection And Labeling Market Insights Forecasts to 2030
- The global Data Collection And Labeling market was valued at USD 2.1 billion in 2021.
- The market is growing at a CAGR of 24.9% from 2021 to 2030
- The global Data Collection And Labeling market is expected to reach USD 15.5 billion by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period
The Global Data Collection And Labeling Market Size is expected to reach USD 15.5 billion by 2030, at a CAGR of 24.9% during the forecast period 2021 to 2030. The demand for Data Collection And Labeling is expected to increase owing to the benefits such as extracting business insights from socially shared pictures and auto-organizing untagged photo collections. Furthermore, it contributes to developing enhanced safety features such as facial recognition, terrain detection, etc.
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Datasets are gathered from online and other sources and labeled according to their nature, data type, and characteristics. AI technology, paired with data collection and annotation, has opened up promising new potential for growth in several industries, including e-commerce, social networking, and gaming. For instance, image processing technology has improved audience engagement on Twitter and Facebook, two of the most popular social networking sites. Businesses use data labeling platforms to identify raw data for machine learning models. The raw data consists of text, images, audio, and other objects. The increasing amount of digital content in the form of photographs and videos has increased exponentially with the introduction of digital capturing devices, especially cameras built into smartphones. Through numerous applications, websites, social networks, and other digital channels, a lot of visual and digital information is being gathered and shared. Several companies have taken advantage of this freely accessible web content using data annotation to provide their clients with smarter and better services. Social media monitoring is one of the most often used programs for data collection since visual listening and visual analytics are crucial elements of digital marketing. Additionally, this technology is extensively used in safety and security-related applications, such as data collection for law enforcement agencies' usage in facial recognition. As the value of decisions supported by data for organizations grows, a continuous flow of data to assess is becoming more and more necessary. Through data mining, analysts gain insights and knowledge about their target audience.
Global Data Collection And Labeling Market Report Coverage
|Market Size in 2021:||USD 2.1 Billion|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||24.9%|
|2030 Value Projection:||USD 15.5 Billion|
|Historical Data for:||2017 - 2020|
|No. of Pages:||197|
|Tables, Charts & Figures:||114|
|Segments covered:||By Data Type, By Industry Vertical, By Region|
|Companies Covered:||Reality AI, Globalme Localization Inc, Global Technology Solutions, Alegion, Labelbox, Inc., Dobility, Inc., Scale AI, Inc., Trilldata Technologies Pvt. Ltd., Appen Limited, Playment Inc.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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This research report categorizes the market for global Data Collection And Labeling based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global Data Collection And Labeling market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global Data Collection And Labeling market sub-segments.
- In 2021, the image/video segment dominated the market with the largest market share of 35% and market revenue of 0.7 billion.
Based on the data type, the global Data Collection And Labeling market is categorized into audio, image/video, and text. In 2021, the image/video segment dominated the market with the largest market share of 35% and market revenue of 0.7 billion. The growth of this segment can be attributed to the rising use of computer vision in various industries, including media, healthcare, automotive, and entertainment. Furthermore, the generalization of public surveillance and facial recognition technology by governments across the globe has propelled the segment's growth during the forecast period.
- In 2021, the IT segment accounted for the largest share of the market, with 30% and market revenue of 0.63 billion.
Based on industry vertical, the Data Collection And Labeling market is categorized into IT, automotive, government, healthcare, BFSI, retail & E-commerce, and others. In 2021, the IT segment accounted for the largest share of the market, with 30% and market revenue of 0.63 billion. The use of data collection and labeling in the IT sector has been growing owing to the increased use of Artificial intelligence.
Regional Segment Analysis of the Data Collection And Labeling Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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North America emerged as the largest market for the global Data Collection And Labeling market, with a market share of around 31.7% and 0.6 billion of the market revenue in 2021.
- North America emerged as the largest market for the global Data Collection And Labeling market, with a market share of around 31.7% and 0.6 billion of the market revenue in 2021. North America is expected to be the largest market for Data Collection And Labeling. This is due to the rise of cloud-based media services, which are one of the potential data sources for collecting data. Furthermore, the expanding integration of artificial intelligence and mobile computing platforms in e-commerce and digital shopping contributes to regional growth. It generates a lot of data for annotation.
- The Asia-Pacific market is expected to grow at the fastest CAGR between 2021 and 2030, owing to the rising popularity of social networking sites in developing nations like China and India and the rising use of mobile phones and tablets, data processing technology, and other technologies. The demand for data collection and labeling is rising as there is an increase in the number of smart devices and internet market penetration. Face recognition applications in Chinese security and surveillance systems are anticipated to propel market growth in the Asia Pacific region.
The report offers the appropriate analysis of the key organizations/companies involved within the global Data Collection And Labeling market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Reality AI
- Globalme Localization Inc.
- Global Technology Solutions
- Labelbox, Inc.
- Dobility, Inc.
- Scale AI, Inc.
- Trilldata Technologies Pvt. Ltd.
- Appen Limited
- Playment Inc.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In December 2021, To speed up manufacturing data labeling, Sight Machine, a provider of a digital manufacturing platform meant to address fundamental issues with quality and productivity throughout the organization, announced a partnership with NVIDIA Corp. By linking its streaming data pipeline to the NVIDIA AI platform, which utilizes Microsoft Azure infrastructure to find data to assets on a global scale, Sight Machine hopes to get past the difficulty of categorizing data.
- In April 2022, The software, named "one person, one file," uses artificial intelligence to categorize data sets collected on residents amid considerable demand from authorities eager to expand their surveillance powers, according to a Reuters analysis of official records. The system improves the software that now takes data and leaves it for individuals to manage.
- In July 2021, Algorithmia Inc., a U.S.-based Machine Learning Operations (MLOps) software platform, was purchased by DataRobot, Inc. The platform, which was developed to meet the needs of IT operations specialists, enables businesses to handle the generation of complicated models in huge volumes in a safe and effective manner. With this acquisition, DataRobot, Inc. hopes to offer customers a platform for using any machine learning model.
- In May 2022, Sumake North America is launching the EA-SC100 tool management system, its newest offering, as the most dependable and comprehensive source for automotive, electrical, and industrial applications. The system has a touchscreen interface for seeing results in real-time and a remote administration system for gathering data and configuring tools.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Data Collection And Labeling market based on the below-mentioned segments:
Global Data Collection And Labeling Market, By Technology
- Image/ Video
Global Data Collection And Labeling Market, By End-User
- Retail & E-commerce
Global Data Collection And Labeling Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the global Data Collection And Labeling market?As per Spherical Insights, the size of the Data Collection And Labeling market was valued at USD 2.1 billion in 2021 to USD 15.5 billion by 2030.
What is the market growth rate of the global Data Collection And Labeling market?The global Data Collection And Labeling market is growing at a CAGR of 24.9% during the forecast period 2021-2030.
Which region dominates the global Data Collection And Labeling market?North America emerged as the largest market for Data Collection And Labeling.
What is an opportunity for the Data Collection And Labeling market?Increasing R&D activities in Data Type companies will provide considerable opportunities to the market.
Who are the key players in the global Data Collection And Labeling market?Key players in the Data Collection And Labeling market are Reality AI, Globalme Localization Inc., Global Technology Solutions, Alegion, Labelbox, Inc., Dobility, Inc., Scale AI, Inc., Trilldata Technologies Pvt. Ltd., Appen Limited, and Playment Inc.
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