Data Collection and Labeling Market

Data Collection and Labeling Market is projected to reach USD 8315 million by 2028, exhibiting a CAGR of 25.8% during forecast period.

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Major Data Collection and Labeling Market Drivers

Rising technology-driven and artificial intelligence integrated operations in healthcare is a factor that has majorly contributed to the market’s growth. The work efficiency for artificial intelligence training in the healthcare sector is done with the specific medical image interpretations and functions in ophthalmology, pathology, radiology, and dermatology, which has led to the robust growth of the market. In addition, strategic initiatives by the leading players in the market have shifted the paddles for the market. For instance, in 2020 Globalme Localization Inc., the U.S. based AI company, provided the accent collection to Sonos Inc, with its operations by collecting speech data from countries. Furthermore, adopting the data collection and labelling in the manufacturing sector for quality assessments has ensured market growth. For instance, data and labeling in the automotive sector improve the production planning and helps plan a better point of view of the market development. It offers superior vehicle safety for regular transport, enhanced behavioural predispositions to driverless cars, and elevates the market’s ADAS safety standards.

The advent of various data processing technologies which include multilingual speech transcription, data classification, and data annotation, among others, owing to the significant increase in the mobile devices and development of cloud media services have bolstered the demand for global data collection and labelling market.

Impact of COVID-19

The verticals worldwide have observed decline since the outbreak of the COVID-19 and has disrupted the supply and demand value chain. Additionally, users and organizations face serious economic disputes due to anomalies in the service-based vertical operations. This was majorly due to the shutdowns of the systems across the globe due to the pandemic which has impacted the market at the global level. This scenario is anticipated to hamper the growth of the market.

Restraint in the Data Collection and Labeling Market

However, inaccuracy in the data annotations is a factor that is expected to hamper the growth of the market. This majorly occurs due to the human error by putting wrong field in the input, which crates a wrong dataset.

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Data Type – Segment Analysis

Based on the data type, text type is witnessed to grow at a higher CAGR in the market over the forecast period. This is due to the rising implementation and adoption of electronic health record, which has pushed the growth of the clinical text in the domain leading to better monitoring and valuable resourceful data.

Based on data type, the image/ video segment accounted for more than 35% share in 2020, owing to the growing implementation of consumer vision in various end-use industries such as healthcare, automotive, and entertainment industry.

Vertical – Segment Analysis

Based on the vertical, healthcare is expected to grow at a higher CAGR in the market over the forecast period. This is due to the potential of the healthcare industry which has helped in changing the gears of the market. For instance, artificial intelligence is widely used in the healthcare industry for various applications, such as treatment prediction, diagnostic automation, gene sequencing which uses the highly accurate data and labelling for more efficient purposes.

The retail and e-commerce segment is anticipated to forecast to witness a faster CAGR over the forecast period. With the expansion of e-commerce industry, data labelling has gained huge prominence as image labelling helps online shoppers to search for accessories or clothing quickly by taking a picture of colour, and texture of their choice, driving the data collection and labelling market size.

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Regional – Segment Analysis:

Based on the regional coverage, North America is witnessed to grow at a higher CAGR in the market over the forecast period. This is due to the early on adopters such as the Canada and United States are the edges of artificial intelligence applications of data collection and labelling. Consumer trends such as virtual shopping, and mass-adoption of smart devices that recognize voice, as well as faces will continue to drive growth in this region.

Europe is anticipated to expand at a higher CAGR over the coming years, owing to the innovations in automobile obstacle detection technologies.

Top Market Players

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

Key Developments:

• • In 2021, Diversey acquired Birko Corporation and Chad Equipment LLC which is subsidiary of Birko Corporation. Through this acquisition, company planned to strengthen their footprint in North America region in food and beverage industries.
  • In 2021, Neogen Corporation acquired Megazyme, a food and beverage company. The acquisition was intended to help company expand its product portfolio in food safety and increase the focus on high quality and nutritional content.
  • In 2021, Appen Limited, officially announced the launch of new Off-the-Shelf (OTS) Datasets, which has accelerated the artificial deployment.

Segments covered in the Report:

The global data collection and labeling market has been segmented on the basis of data type, vertical, and regions. Based on data type, the market is segmented into text, image/video and audio. Based on vertical, the market is segmented into IT, automotive, government, healthcare, BFSI, retail & e-commerce and others. 

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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

• • North America Data Collection and Labeling Market (Option 1: As a part of the free 25% customization)

    • By Data Type
    • By Vertical
    • US Market All-Up
    • Canada Market All-Up

  • Europe Data Collection and Labeling Market (Option 2: As a part of the free 25% customization)

    • By Data Type
    • By Vertical
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Data Collection and Labeling Market (Option 3: As a part of the free 25% customization)

    • By Data Type
    • By Vertical
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Data Collection and Labeling Market (Option 4: As a part of the free 25% customization)

    • By Data Type
    • By Vertical
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Data Collection and Labeling (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Appen Limited
  • Reality Ai
  • Globalme Localization Inc.
  • Global Technology Solutions
  • Alegion
  • Labelbox, Inc
  • Dobility, Inc.
  • Scale Ai, Inc.
  • Trilldata Technologies Pvt Ltd
  • Playment Inc.