Data Collection And Labeling Market Size Report, 2020-2027

4.1
Data Collection And Labeling Market Size Report, 2020-2027

The Data Collection and Labeling Market is anticipated to reach USD 8315 million by 2028, growing at a CAGR of 25.8% over the forecast period (2020-2027).

Data Collection and Labeling Market

The Data Collection and Labeling Market is anticipated to reach USD 8315 million by 2028, growing at a CAGR of 25.8% over the forecast period (2020-2027).

The factors driving the growth of Data Collection and Labeling Market includes growing application of Data Collection and Labeling in manufacturing, automotive and primarily in healthcare industry to sense the pattern and detect injury and rising trend of digitalization. Moreover, the increasing demand for medical devices and growing adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning, Internet of Things (IoT) and cloud media services, are further supplementing the Data Collection and Labeling Market size. According to the report published by Bloomberg, the Global Portable Medical Devices Market is anticipated to reach more than USD 77.01 billion, growing at a CAGR of 8.30% by the end of2028, during the forecast period (2022-2028), which is expected to boost the market growth in the approaching years. In addition, the increasing investment by the leading players on research and development related activities, growing disposable incomes and improving living standards, are further pushing the market growth.

However, the growth of Data Collection and Labeling Market is hindered due to problems related to data cleansing, inaccuracy in the data annotations and the cost linked with the development of machine learning models

The major players operating in the market are Scale Ai, Inc., Trilldata Technologies Pvt Ltd, Appen Limited, Reality Ai, Globalme Localization Inc., Playment Inc., Labelbox, Inc, Dobility, Inc., Global Technology Solutions and Alegion among others.

Data Type – Segment Analysis

Based on data type, text segment is projected to grow at significant CAGR during the forecast period. The growing application of data collection and labelling in e-commerce industry and clinical research and rising adoption of electronic health record, are some of the factors responsible for the growth of the segment.

Vertical – Segment Analysis

Based on vertical, the healthcare segment is predicted to capture a sizeable market share over the forecast period attributed to growing reliance of data collection and labelling for treating patient and increasing application of Artificial Intelligence (AI) in healthcare sector for diagnostic automation and drug development.

Regional – Segment Analysis

As per the Data Collection and Labeling Market Forecast, the North American region is expected to grow at higher CAGR during the forecast period. The United States and Canada were one of the few Countries who adopted Artificial Intelligence along with rising trend of virtual shopping and strong penetration of smart devices, are some of the important factors influencing the market growth in North American region.

Market Segmentation

Global Data Collection and Labeling Market by Data Type

Text

Image/Video

Audio

Global Data Collection and Labeling Market by Vertical

IT

Automotive

Government

Healthcare

BFSI

Retail & E-Commerce

Others

Global Data Collection and Labeling Market by Region

Asia Pacific

China

Japan

India

Rest of APAC

North America

United States of America

Canada

Europe

United Kingdom

Germany

France

Spain

Rest of Europe

RoW

Brazil

South Africa

Saudi Arabia

UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact

Company Name: GMI RESEARCH

Contact Person: Sarah Nash

Email: enquiry@gmiresearch.com

Phone: Europe – +353 1 442 8820; US – +1 860 881 2270

Address: Dublin, Ireland

Website: www.gmiresearch.com