Data Annotation Tools Market

1. Data Annotation Tools Market to 2027 Global Analysis and Forecasts by Type ( Text, Image, Others ); Annotation Type ( Manual, Semi-Supervised, Automatic ); End-user ( Automotive, Government, Healthcare, Financial Services, Retail, IT and Telecom, Others ) The data annotation tools Market was valued at US$ 695.5 million in 2017 and is projected to reach US$ 6450.0 million by 2027; it is expected to grow at a CAGR of 32.54% from 2020 to 2027.

2. Data Annotation Tools Market to 2027 - Global Analysis and Forecasts by Type ( Text, Image, Others ); Annotation Type ( Manual, Semi-Supervised, Automatic ); End-user ( Automotive, Government, Healthcare, Financial Services, Retail, IT and Telecom, Others ) The process of data annotation includes labeling of data which makes it usable for machine learning. Data annotation tools are an important tool 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, or any other language), 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.

3. Data Annotation Tools Market to 2027 - Global Analysis and Forecasts by Type ( Text, Image, Others ); Annotation Type ( Manual, Semi-Supervised, Automatic ); End-user ( Automotive, Government, Healthcare, Financial Services, Retail, IT and Telecom, Others ) The data annotation tools market operates in a highly fragmented and competitive marketplace. As leading companies in this market continue to broaden its addressable market, by expanding its current offerings, diversifying its client base, all the prominent players face an increasing level of competition, both from start-ups as well as the leading established companies in the globe. Several companies in the value chain are acquiring other players in the market to maintain their position in the market and provide efficient services to its customers. Major companies of data annotation tools providers are based in North America and mainly the US. However, the data annotation tools market is penetrating at a high growth rate in the APAC region. Growing Applications of Data Annotation Across Various Industries might Machine learning and artificial intelligence are among fastest-growing technologies that are introducing incredible innovations and offering various advantages to several industries globally. Data annotation includes the process of labeling/tagging video, images, text, and speech. For machine learning, precisely labeled datasets are needed, so that machines can easily and clearly understand the input patterns. When the dataset is precisely labeled, an accurate output can be expected.

4. Data Annotation Tools Market to 2027 - Global Analysis and Forecasts by Type ( Text, Image, Others ); Annotation Type ( Manual, Semi-Supervised, Automatic ); End-user ( Automotive, Government, Healthcare, Financial Services, Retail, IT and Telecom, Others ) Data Annotation Tools Market-Annotation Type Insights In semi-automatic/semi-supervised annotation, human annotators use computer algorithms to produce annotations, providing suggested tags to users. They allow the users to provide the system with feedback on suggested image/text tags. The user-generated feedback can then be used to create accurate keyword suggestions. Semi-automating the labeling process eliminates the labor costs and also reduces the time taken to get a model trained and into production.

5. Data Annotation Tools Market to 2027 - Global Analysis and Forecasts by Type ( Text, Image, Others ); Annotation Type ( Manual, Semi-Supervised, Automatic ); End-user ( Automotive, Government, Healthcare, Financial Services, Retail, IT and Telecom, Others ) Data Annotation Tools Market Strategic Insights The companies operating in the Data Annotation Tools Market are focusing on new product development to attract new customers and achieve a competitive position in the data annotation tools market 2019: Appen Limited, launched the Appen secure workspace solution, which provides the right combination of technology, people, and processes to ensure that projects containing sensitive data can be annotated by a global crowd securely, which is likely to use for AI training data annotation.This strategy is expected to support the company in attracting new customers in data annotation tools market. 2019: CloudFactory launched a solutions and partnership for artificial intelligence (AI) with technology providers Hivemind, Labelbox and Dataloop to tag, label, or annotate data. This would help the company to achieve a strong position in the data annotation tools market.

6. Data Annotation Tools Market to 2027 - Global Analysis and Forecasts by Type ( Text, Image, Others ); Annotation Type ( Manual, Semi-Supervised, Automatic ); End-user ( Automotive, Government, Healthcare, Financial Services, Retail, IT and Telecom, Others ) Company Profiles • Cogito • Google LLC. • Deep Systems • AppenLimited • Labelbox, Inc • LightTag • PLAYMENT INC • Scale AI, Inc. • TagtogSp. z o.o. • CloudFactoryLimited

7. Data Annotation Tools Market to 2027 - Global Analysis and Forecasts by Type ( Text, Image, Others ); Annotation Type ( Manual, Semi-Supervised, Automatic ); End-user ( Automotive, Government, Healthcare, Financial Services, Retail, IT and Telecom, Others ) Thank You Email :sales@theinsightpartners.com Phone : +1-646-491-9876