Overview and Scope
Data labeling solutions and services refer to processes and tools used to annotate or label raw data to make it usable for machine learning algorithms. They offer scalable, accurate, and efficient labeling processes, utilizing human annotators or automated algorithms. These services ensure high-quality labeled data, which is crucial for improving AI model performance across various industries.
Sizing and Forecast
The data labeling solution and services market size has grown exponentially in recent years. It will grow from $13.21 billion in 2023 to $16.4 billion in 2024 at a compound annual growth rate (CAGR) of 24.1%. The growth in the historic period can be attributed to the rise of machine learning and AI, increasing demand for labeled data, the emergence of computer vision applications, expansion of natural language processing (NLP), and growth of autonomous vehicles and robotics.
The data labeling solution and services market size is expected to see exponential growth in the next few years. It will grow to $39.35 billion in 2028 at a compound annual growth rate (CAGR) of 24.5%. The growth in the forecast period can be attributed to proliferation of IoT devices, advancements in edge computing, expanding adoption of autonomous systems, rise of industry-specific ai applications, and increasing focus on data privacy and security. Major trends in the forecast period include integration of AI-driven automation, rise of hybrid human-machine labeling approaches, the emergence of specialized vertical solutions, expansion of data labeling-as-a-service (DLaaS), and emphasis on ethical and bias-aware labeling practices.
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Segmentation & Regional Insights
The data labeling solution and services market covered in this report is segmented –
1) By Type: Text, Image Or Video, Audio
2) By Labeling Type: Manual, Semi-Supervised, Automatic
3) By Sourcing Type: In-House, Outsourced
4) By Vertical: Information Technology, Automotive, Government, Healthcare, Financial Services, Retails, Other Verticals
North America was the largest region in the data labeling solution and services market in 2023. The regions covered in the data labeling solution and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rapidly growing volume of data is expected to propel the growth of the data labeling solution and services market going forward. Data refers to raw facts, figures, and statistics collected for analysis or reference, often in digital form. The rapidly growing volume of data is primarily due to increased digitalization and the proliferation of connected devices. Due to the complexity and scale of handling large datasets, the increasing volume of data necessitates data labeling solutions and services to clean, transform, and organize data for analysis efficiently. For instance, in December 2022, according to a report published by the Linux Foundation, a US-based non-profit consortium, an average end-user organization with a storage capacity of up to 20 petabytes experienced annual data growth of 566 terabytes (TB) in 2021 and 1,746 terabyte (TB) in 2022. Similarly, annual data growth for organizations with a storage capacity of up to 25 petabytes reached a significant 2,208 TB in 2022, three times more than in 2021 (700 TB). Therefore, the rapidly growing volume of data will drive the growth of the data labeling solution and services market.
Key Industry Players
Major companies operating in the data labeling solution and services market are Google LLC, Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, Uber Technologies Inc., Adobe Inc., Telus International, CloudFactory Limited, iMerit Technology Services Private Limited, Databricks Inc., Scale AI Inc., Appen Limited, The Hive AI Inc., BigID Inc., Encord LLC, Labelbox Inc., SuperAnnotate Inc., Adept Technologies Limited, Kili Technology Inc., Label Your Data LLC, Alegion Inc., SuperbAI Inc., Pure Moderation LLC, Data Labeler LLC, AI Data Innovations Inc., Amazon Mechanical Turk Inc., Cogito Tech LLC, Labellerr Inc., KeyMakr Inc.
The data labeling solution and services market report table of contents includes:
1. Executive Summary
2. Data Labeling Solution And Services Market Characteristics
3. Data Labeling Solution And Services Market Trends And Strategies
4. Data Labeling Solution And Services Market – Macro Economic Scenario
5. Global Data Labeling Solution And Services Market Size and Growth
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31. Data Labeling Solution And Services Market Other Major And Innovative Companies
32. Global Data Labeling Solution And Services Market Competitive Benchmarking
33. Global Data Labeling Solution And Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Data Labeling Solution And Services Market
35. Data Labeling Solution And Services Market Future Outlook and Potential Analysis
36.Appendix
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