The global Data Collection And Labeling market size is expected to be worth around US$ 8.30 billion by 2030, according to a new report by Vision Research Reports.
The global Data Collection And Labeling market size was valued at US$ 1,307.7 million in 2020 and is anticipated to grow at a CAGR of 25.10% during forecast period 2021 to 2030.
Growth Factors
The market is anticipated to expand at a CAGR of 25.6% from 2021 to 2028. Data collection and labeling refer to the process of collecting datasets from online sources and other sources and labeling them based on their nature, data type, and feature. Data gathering and its annotation, combined with artificial intelligence (AI) technology, have created valuable growth opportunities in several verticals, such as gaming, social networking, and e-commerce. For instance, Twitter and Facebook, two major platforms in the world of social networking, have benefited from the image processing technology in terms of audience engagement as they have created a more connected experience by encouraging users to share images and tag their friends.
The advent of digital capturing devices, particularly cameras built into smartphones, has led to an exponential growth in the volume of digital content in the form of images and videos. A vast amount of visual and digital information is being captured and shared through several applications, websites, social networks, and other digital channels. Several businesses have leveraged this available online content to deliver smarter and better services to their customers, with the use of data annotation. For instance, Scale AI, Inc., the U.S.-based tech start-up, has provided valuable data labeling services to its autonomous driving customers, including Waymo LLC; Lyft, Inc.; Zoox; and Toyota Research Institute.
Report Highlights
The image/ video segment led the data collection and labeling market in 2020, accounting for over 35% share of the global revenue. The high share can be attributed to its increasing implementation of computer vision in several industries, including healthcare, automotive, and media & entertainment industry, among others. For instance, medical imaging is one of the significant image labeling applications. Also, the text segment accounted for the significant share in 2020, owing to its rising applications in clinical research and e-commerce.
With the growing implementation of electronic health record (HER) systems, the accumulation of clinical data, including unstructured text documents, has become one of the valuable resources for clinical research. Statistical NLP (natural language processing) models have been developed to unlock information embedded in clinical text. Also, with the advancement in sentiment analysis, text labeling is highly used in social media monitoring to build recommendation systems. For instance, e-commerce companies use social media data to influence their customers to purchase.
The IT segment led the market in 2020, accounting for over 30% share of the global revenue. The high share can be attributed to the wide adoption of AI applications across the industry. Besides, the healthcare industry is expected to grow at a noticeable rate over the forecast period. Since artificial intelligence is being used widely in the healthcare industry for several applications, such as diagnostic automation, treatment prediction, gene sequencing, and drug development, among others, training of datasets with deep learning and machine learning algorithms is required. It directly influences the growth of the industry positively owing to the requirement of highly accurate data labeling for efficient AI-based applications.
the retail and e-commerce segment secured significant market shares in 2020. With the help of image labeling, online shoppers can search for clothing or accessories by taking a picture of the texture, print, or color of their choice. The photo captured by the smartphone is uploaded to an app that searches an inventory of products to find similar products using AI technology. Also, data annotation technology is being increasingly adopted in autonomous vehicles, which is anticipated to contribute to the noticeable growth in the automotive segment. Self-driving cars can detect obstacles and warn the driver about the proximity to walkways and guardrails with the help of this technology. The technology is also capable of reading stoplights and road signs.
North America dominated the market in 2020, accounting for over 38% share of the global revenue. This can be attributed to the rapid growth of cloud-based media services as media services are one of the potential data sources for collection. The growth of the North America segment is attributed to the growing integration of artificial intelligence and mobile computing platforms in the field of digital shopping and e-commerce. It creates a large amount of data for annotation. Europe is expected to witness significant growth over the forecast period. The growing advancements in automobile obstacle detection technologies are expected to fuel the growth of the market in the automobile sector of the European region over the forecast period.
Key Players
Reality AI
Globalme Localization Inc.
Global Technology Solutions
Alegion
Labelbox, Inc
Dobility, Inc.
Scale AI, Inc.
Trilldata Technologies Pvt Ltd
Appen Limited
Playment Inc
Market Segmentation
Data Type Outlook
Text
Image/ Video
Audio
Vertical Outlook
IT
Automotive
Government
Healthcare
BFSI
Retail & E-commerce
Others
Regional Outlook
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Asia Pacific
China
Japan
India
South America
Brazil
Middle East and Africa (MEA)
The Data Collection And Labeling market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Data Collection And Labeling market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Data Collection And Labeling market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Data Collection And Labeling market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Data Collection And Labeling market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Data Collection And Labeling capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Data Collection And Labeling by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Data Collection And Labeling market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Data Collection And Labeling market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Data Collection And Labeling market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Data Collection And Labeling industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Data Collection And Labeling market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Data Collection And Labeling market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Data Collection And Labeling market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Data Collection And Labeling market. These factors have benefited the growth of the global market for Data Collection And Labeling. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Data Collection And Labeling. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Data Collection And Labeling are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers