The generative artificial intelligence (ai) in data labeling solution and services global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Generative Artificial Intelligence (AI) In Data Labeling Solution And Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The generative artificial intelligence (AI) in data labeling solution and services market size has grown exponentially in recent years. It will grow from $12.46 billion in 2023 to $15.50 billion in 2024 at a compound annual growth rate (CAGR) of 24.4%. The growth in the historic period can be attributed to increasing demand for cost-effectiveness, increasing Investment in AI startups, increasing demand for real-time data processing, increasing focus on data security, and increasing focus on AI ethics.
The generative artificial intelligence (AI) in data labeling solution and services market size is expected to see exponential growth in the next few years. It will grow to $37.31 billion in 2028 at a compound annual growth rate (CAGR) of 24.6%. The growth in the forecast period can be attributed to the expansion of AI applications, growth of e-commerce and digital platforms, the evolution of AI research and development, support for low-resource languages and dialects, and customization for industry-specific needs. Major trends in the forecast period include advanced data augmentation, crowdsourcing with AI assistance, integration with machine learning ops, enhanced object recognition, and advanced natural language processing (NLP) models.
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Scope Of Generative Artificial Intelligence (AI) In Data Labeling Solution And Services Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Generative Artificial Intelligence (AI) In Data Labeling Solution And Services Market Overview
Market Drivers –
The increasing volume of data is expected to propel the growth of the generative artificial intelligence (AI) in data labeling solution and services market going forward. The volume of data refers to the amount or quantity of data being generated, collected, or stored. The increasing volume of data is due to the proliferation of digital technologies, which generate and capture vast amounts of information from various sources such as social media, IoT devices, and online transactions. Generative AI data labeling solutions and services help the volume of data by automating the creation of high-quality, annotated datasets, which accelerates the training of machine learning models and reduces the time and cost associated with manual labeling. For instance, in December 2023, according to the UK Business Data Survey 2022, a report published by the gov.uk, a UK-based professional governmental organization, 85% of UK businesses managed digital data in 2022, up from 81% in 2021. Therefore, the increasing volume of data is driving the growth of generative artificial intelligence (AI) in data labeling solution and services market.
Market Trends –
Major companies operating in the generative artificial intelligence (AI) in data labeling solution and services market are focusing on developing advanced solutions, such as in-house generative AI services, to enhance data labeling capabilities and meet growing demand. An in-house generative AI service refers to a system or platform developed and maintained internally by an organization to create and utilize AI models for generating content, data, or other outputs. For instance, in October 2023, Sumitomo Chemical Co., Ltd., a Japan-based manufacturer of chemical-based products, launched ChatSCC, which is designed to enhance productivity and optimize the use of proprietary data among the company’s approximately 6,500 employees. It offers unique features such as real-time sentiment analysis within conversations, allowing users to instantly gauge and respond to emotional tones, enhancing engagement and communication effectiveness.
The generative artificial intelligence (AI) in data labeling solution and services market covered in this report is segmented –
1) By Type: Audio-Based, Image Or Video-Based, Text-Based
2) By Labeling Type: Automatic, Manual, Semi-Supervised
3) By Sourcing Type: In-House, Outsourced
4) By Vertical: Automotive, Financial Services, Government, Healthcare, Information Technology (IT) Data, Retail, Other Verticals
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Regional Insights –
North America was the largest region in the generative artificial intelligence (AI) in data labeling solution and services market in 2023. The regions covered in the generative artificial intelligence (AI) in data labeling solution and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the generative artificial intelligence (AI) in data labeling solution and services market are Microsoft Corporation, CloudFactory Limited, iMerit Technology Services Pvt. Ltd., Quantiphi Inc., Samasource Inc., Appen Limited, DataRobot Inc., Scale AI Inc., Cogito Technologies Pvt. Ltd., Clarify Inc., Osiz Technologies Private Limited, Clickworker GmbH, Snorkel AI Inc., Labelbox Inc., V7 Lab Inc., SuperAnnotate Inc., Dataloop AI Ltd., Prolific Ltd., Superb AI Inc., Roboflow Inc., Anolytics Inc., Datasaur, LabelMe, Nanonets Inc.
Table of Contents
1. Executive Summary
2. Generative Artificial Intelligence (AI) In Data Labeling Solution And Services Market Report Structure
3. Generative Artificial Intelligence (AI) In Data Labeling Solution And Services Market Trends And Strategies
4. Generative Artificial Intelligence (AI) In Data Labeling Solution And Services Market – Macro Economic Scenario
5. Generative Artificial Intelligence (AI) In Data Labeling Solution And Services Market Size And Growth
…..
27. Generative Artificial Intelligence (AI) In Data Labeling Solution And Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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