Global Data Annotation Tools Market Report By Type (Text, Image/Video, Audio), By Annotation Type (Manual, Semi-supervised, Automatic), By Vertical (IT, Automotive, Government, Healthcare, Financial Services, Retail, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2020-2027

ID:VMR11214537
March 2021
Report Formats:

Global Data Annotation Tools Market Overview
The key driver impacting the data annotation tools market is the rising investments in the development of self-driving vehicles globally. For instance, In 2018, Audi declared to invest $16B in self-driving and sustainable technology by 2023. In August 2018, Toyota funded USD 500 million in Advanced Technologies Group (ATG). It is a segment of Uber that majorly focuses self-driving car program which develops autonomous taxis. In 2019, Uber Advanced Technologies Group raised about $1 billion for the Uber driverless cars business from three investors of Japan: Toyota, Softbank’s Vision Fund, and auto-parts maker Denso. In Dec 2020, China’s most-funded startups known as We Ride, developed autonomous driving capabilities, had raised $200 million from Chinese bus maker Yutong. Moreover, the growing applications of data annotation across various industries such as automotive, healthcare, medical imaging, the robotics industry is adding growth to the market in the coming years.

According to Value Market Research, the global data annotation tools market size was valued at around USD 390 million in 2020 and is estimated to grow at a CAGR of about 25% during the forecast period 2021 to 2027.

The massive adoption of advanced technologies such as machine learning, the internet of things (IoT), artificial intelligence is estimated to augment data annotation tools needs in the forecast period. For example, expanding preference for Artificial Intelligence (AI)-based solutions such as Chatbot, Intelligent Virtual Assistant (IVA), and IVR to offer enhanced customer support services is likely to create massive demand for data annotation tools. For instance, As per the Website Builder, About 69% of the public prefer to utilize a chatbot than a company’s official app, and 63% trust chatbots with their most sensitive information. Globally 80% of companies plan to deploy several types of chatbots by 2020, and Chatbots are expected to help decrease business costs by up to $8 billion by the year 2022. Also, 43% of those who use digital banking services prefer using chatbots or live chat to deal with their problems. Data annotation will give chatbots the capabilities to accurately react to a question, whether it is vocalized or typed, improve search relevance, and assist in train chatbots. However, lack of skilled labor and high costs associated with manual annotation of complex images may hamper the market in the long run. Also, inaccuracies in data annotation tools are negatively impacting the market. The current industry trends, such as the growing adoption of data annotation for medical imaging data and the rising trend of image/video annotation for entity recognition, are likely to provide market players with new market opportunities.

The Data annotation tools market is vast, with many local and global players. The Data annotation tools market is extensive, with many international and regional players. The key market leaders follow various strategies to advance their market statuses, such as amalgamation, extending product portfolio by raising funds, contracts, product upgrades, and acquisitions to enlarge their market share across the globe. For instance, in August 2018, Scale Inc., a U.S.-based company providing data annotation tools and solutions, declared that it had raised funds worth USD 18 million to label data congregated by companies developing self-driving cars, such as Lyft, Inc. and General Motors. The key players studied in the report are Appen Limited, Cogito Tech LLC, Deep Systems, Labelbox, Inc., LightTag, Playment Inc., CloudFactory Limited, Clickworker Gmbh, Alegion, Figure Eight Inc., Amazon Mechanical Turk, Inc.

Global Data Annotation Tools Market Share

In this research report, the Data annotation tools market is segmented by Type, annotation type, vertical, and region. 

Analysis by Type: 
By type, the report is categorized into text, image/video, and audio. Text dominates the type segment with over 37.5% share in 2020. It is due to the rising applications in e-commerce and clinical research. Moreover, the growing popularity of chatbots and rising market players operating in the data annotation tools market that provides text annotation tools contribute to the high demand for text annotation tools in the forecast period.

Analysis by Annotation Type:
By annotation type, the report is segmented into manual, semi-supervised, and automatic. Manuals dominate the annotation type segment with a 35% share in 2020. It is due to the growing popularity of manual annotation tools as compared to automatic annotation tools.  Manual annotation tools offer advantages such as a high level of integrity, accuracy, and a higher chance of discovering intriguing insights about the data than automatic annotation tools, which can later integrate into an algorithm. Moreover, the rising need for minimal administration of data annotation efforts contributes to increased market demand in the forecast period.

Analysis by Vertical:
By verticals, the report is categorized into IT, automotive, government, healthcare, financial services, retail, and others. The Automotive segment dominates the verticals segment with a 30% share in 2020. It is due to the rapidly growing self-driving vehicles sector across the globe. Moreover, the increasing R&D spending on the improvement of image annotation for the developments in self-driving vehicles contributes to the enormous market demand from Automotive industries in the forecast period.

Analysis by Region:
In the regional outlook of the global data annotation tools market, the North America region dominates globally with a 30% market share in the forecast period.  It is due to the early adoption of advanced technologies like artificial intelligence, machine learning, robotics technology, and the presence of key players in the United States, Mexico, and Canada. Also, the high adoption of data annotation tools across the healthcare and automotive sectors positively impacts the regional market growth. Moreover, the high-disposable income consumers create demand for smart products and services that employ data annotation tools, thus contributing to market growth across North America.

Market Segmentation covered in the Report:
By Type
  • Text
  • Image/Video
  • Audio
 By Annotation Type
  • Manual
  • Semi-supervised
  • Automatic
By Vertical
  • IT
  • Automotive
  • Government
  • Healthcare
  • Financial Services
  • Retail
  • Others
 By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
 METHODOLOGY

This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications. 

If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.  

1 . PREFACE
       1.1. Report Description
           1.1.1. Objective
           1.1.2. Target Audience
           1.1.3. Unique Selling Proposition (USP) & offerings
       1.2. Research Scope
       1.3. Research Methodology
           1.3.1. Market Research Process
           1.3.2. Market Research Methodology
 
2 . EXECUTIVE SUMMARY
       2.1. Highlights of Market
       2.2. Global Market Snapshot
 
3 . DATA ANNOTATION TOOLS – INDUSTRY ANALYSIS
       3.1. Introduction - Market Dynamics
       3.2. Market Drivers
       3.3. Market Restraints
       3.4. Opportunities
       3.5. Industry Trends
       3.6. Porter’s Five Force Analysis
       3.7. Market Attractiveness Analysis
           3.7.1 By Type
           3.7.2 By Annotation Type
           3.7.3 By Vertical
           3.7.4 By Region
 
4 . VALUE CHAIN ANALYSIS
       4.1. Value Chain Analysis
       4.2. Raw Material Analysis
           4.2.1. List of Raw Materials
           4.2.2. Raw Material Manufactures List
           4.2.3. Price Trend of Key Raw Materials
       4.3. List of Potential Buyers
       4.4. Marketing Channel
           4.4.1. Direct Marketing
           4.4.2. Indirect Marketing
           4.4.3. Marketing Channel Development Trend
 
5 . IMPACT ANALYSIS OF COVID-19 OUTBREAK
       5.1. Impact Analysis of Covid-19 Outbreak
           5.1.1. Direct Impact on Production
           5.1.2. Supply Chain and Market Disruption
           5.1.3. Financial Impact on Firms and Financial Markets
       5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
       5.3. Market: Pre V/S Post COVID-19
       5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
       5.5. COVID-19: Micro and Macro Factor Analysis
 
6 . GLOBAL DATA ANNOTATION TOOLS MARKET ANALYSIS BY TYPE
       6.1 Overview by Type
       6.2 Historical and Forecast Data
       6.3 Analysis by Type
       6.4 Text Market by Regions
       6.5 Image/Video Market by Regions
       6.6 Audio Market by Regions
 
7 . GLOBAL DATA ANNOTATION TOOLS MARKET ANALYSIS BY ANNOTATION TYPE
       7.1 Overview by Annotation Type
       7.2 Historical and Forecast Data
       7.3 Analysis by Annotation Type
       7.4 Manual Market by Regions
       7.5 Semi-supervised Market by Regions
       7.6 Automatic Market by Regions
 
8 . GLOBAL DATA ANNOTATION TOOLS MARKET ANALYSIS BY VERTICAL
       8.1 Overview by Vertical
       8.2 Historical and Forecast Data
       8.3 Analysis by Vertical
       8.4 IT Market by Regions
       8.5 Automotive Market by Regions
       8.6 Government Market by Regions
       8.7 Healthcare Market by Regions
       8.8 Financial Services Market by Regions
       8.9 Retail Market by Regions
       8.10. Others Market by Regions
 
9 . GLOBAL DATA ANNOTATION TOOLS MARKET ANALYSIS BY GEOGRAPHY
       9.1. Regional Outlook
       9.2. Introduction
       9.3. North America
           9.3.1. Overview, Historic and Forecast Data
           9.3.2. North America By Segment
           9.3.3. North America By Country
           9.3.4. United State
           9.3.5. Canada
           9.3.6. Mexico
       9.4. Europe
           9.4.1. Overview, Historic and Forecast Data
           9.4.2. Europe by Segment
           9.4.3. Europe by Country
           9.4.4. United Kingdom
           9.4.5. France
           9.4.6. Germany
           9.4.7. Italy
           9.4.8. Russia
           9.4.9. Rest Of Europe
       9.5. Asia Pacific
           9.5.1. Overview, Historic and Forecast Data
           9.5.2. Asia Pacific by Segment
           9.5.3. Asia Pacific by Country
           9.5.4. China
           9.5.5. India
           9.5.6. Japan
           9.5.7. South Korea
           9.5.8. Australia
           9.5.9. Rest Of Asia Pacific
       9.6. Latin America
           9.6.1. Overview, Historic and Forecast Data
           9.6.2. Latin America by Segment
           9.6.3. Latin America by Country
           9.6.4. Brazil
           9.6.5. Argentina
           9.6.6. Peru
           9.6.7. Chile
           9.6.8. Rest of Latin America
       9.7. Middle East & Africa
           9.7.1. Overview, Historic and Forecast Data
           9.7.2. Middle East & Africa by Segment
           9.7.3. Middle East & Africa by Country
           9.7.4. Saudi Arabia
           9.7.5. UAE
           9.7.6. Israel
           9.7.7. South Africa
           9.7.8. Rest Of Middle East And Africa
 
10 . COMPETITIVE LANDSCAPE OF THE DATA ANNOTATION TOOLS COMPANIES
       10.1. Data Annotation Tools Market Competition
       10.2. Partnership/Collaboration/Agreement
       10.3. Merger And Acquisitions
       10.4. New Product Launch
       10.5. Other Developments
 
11 . COMPANY PROFILES OF DATA ANNOTATION TOOLS INDUSTRY
       11.1. Company Share Analysis
       11.2. Market Concentration Rate
       11.3. Appen Limited
           11.3.1. Company Overview
           11.3.2. Financials
           11.3.3. Products
           11.3.4. Recent Developments
       11.4. Cogito Tech LLC
           11.4.1. Company Overview
           11.4.2. Financials
           11.4.3. Products
           11.4.4. Recent Developments
       11.5. Deep Systems
           11.5.1. Company Overview
           11.5.2. Financials
           11.5.3. Products
           11.5.4. Recent Developments
       11.6. Labelbox Inc.
           11.6.1. Company Overview
           11.6.2. Financials
           11.6.3. Products
           11.6.4. Recent Developments
       11.7. LightTag
           11.7.1. Company Overview
           11.7.2. Financials
           11.7.3. Products
           11.7.4. Recent Developments
       11.8. Playment Inc.
           11.8.1. Company Overview
           11.8.2. Financials
           11.8.3. Products
           11.8.4. Recent Developments
       11.9. CloudFactory Limited
           11.9.1. Company Overview
           11.9.2. Financials
           11.9.3. Products
           11.9.4. Recent Developments
       11.10. Clickworker Gmbh
           11.10.1. Company Overview
           11.10.2. Financials
           11.10.3. Products
           11.10.4. Recent Developments
       11.11. Alegion
           11.11.1. Company Overview
           11.11.2. Financials
           11.11.3. Products
           11.11.4. Recent Developments
       11.12. Figure Eight Inc.
           11.12.1. Company Overview
           11.12.2. Financials
           11.12.3. Products
           11.12.4. Recent Developments
       11.13. Amazon Mechanical Turk Inc.
           11.13.1. Company Overview
           11.13.2. Financials
           11.13.3. Products
           11.13.4. Recent Developments
 
 *Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies
 
LIST OF TABLES
 

  •  Market Snapshot
  •  Drivers : Impact Analysis
  •  Restraints : Impact Analysis
  •  List of Raw Material
  •  List of Raw Material Manufactures
  •  List of Potential Buyers
  •  COVID-19 Impact Analysis by Production, Import, Export and Demand
  •  Pre V/S Post COVID-19
  •  Estimated Impact Of The Coronavirus (Covid-19) Epidemic
  •  COVID-19: Micro and Macro Factor Analysis
  •  Analysis by Type (USD MN)
  •  Text Market by Geography (USD MN)
  •  Image/Video Market by Geography (USD MN)
  •  Audio Market by Geography (USD MN)
  •  Analysis Market by Annotation Type (USD MN)
  •  Manual Market by Geography (USD MN)
  •  Semi-supervised Market by Geography (USD MN)
  •  Automatic Market by Geography (USD MN)
  •  Analysis by Vertical (USD MN)
  •  IT Market by Geography (USD MN)
  •  Automotive Market by Geography (USD MN)
  •  Government Market by Geography (USD MN)
  •  Healthcare Market by Geography (USD MN)
  •  Financial Services Market by Geography (USD MN)
  •  Retail Market by Geography (USD MN)
  •  Others Market by Geography (USD MN)
  •  Global Data Annotation Tools Market by Geography (USD MN)
  •  North America Market Analysis (USD MN)
  •  United State Market Analysis (USD MN)
  •  Canada Market Analysis (USD MN)
  •  Mexico Market Analysis (USD MN)
  •  Europe Market Analysis (USD MN)
  •  Europe Market Estimate by Country (USD MN)
  •  United Kingdom Market Analysis (USD MN)
  •  France Market Analysis (USD MN)
  •  Germany Market Analysis (USD MN)
  •  Italy Market Analysis (USD MN)
  •  Russia Market Analysis (USD MN)
  •  Spain Market Analysis (USD MN)
  •  Rest of Europe Market Analysis (USD MN)
  •  Asia Pacific Market Analysis (USD MN)
  •  China Market Analysis (USD MN)
  •  Japan Market Analysis (USD MN)
  •  India Market Analysis (USD MN)
  •  South Korea Market Analysis (USD MN)
  •  Australia Market Analysis (USD MN)
  •  Rest of Asia Pacific Market Analysis (USD MN)
  •  Latin America Market Analysis (USD MN)
  •  Brazil Market Analysis (USD MN)
  •  Argentina Market Analysis (USD MN)
  •  Peru Market Analysis (USD MN)
  •  Chile Market Analysis (USD MN)
  •  Rest of Latin America Market Analysis (USD MN)
  •  Middle East & Africa Market Analysis (USD MN)
  •  Saudi Arabia Market Analysis (USD MN)
  •  UAE Market Analysis (USD MN)
  •  Israel Market Analysis (USD MN)
  •  South Africa Market Analysis (USD MN)
  •  Rest of Middle East and Africa Market Analysis (USD MN)
  •  Partnership/Collaboration/Agreement
  •  Mergers And Acquisiton
 
 LIST OF FIGURES
 
  •  Research Scope of Data Annotation Tools Report
  •  Market Research Process
  •  Market Research Methodology
  •  Global Data Annotation Tools Market Size, by Region (USD MN)
  •  Porters Five Forces Analysis
  •  Market Attractiveness Analysis by Type
  •  Market Attractiveness Analysis by Annotation Type
  •  Market Attractiveness Analysis by Vertical
  •  Market Attractiveness Analysis by Region
  •  Value Chain Analysis
  •  Global Market Analysis by Type (USD MN)
  •  Text Market by Geography (USD MN)
  •  Image/Video Market by Geography (USD MN)
  •  Audio Market by Geography (USD MN)
  •  Global Market Analysis by Annotation Type (USD MN)
  •  Manual Market by Geography (USD MN)
  •  Semi-supervised Market by Geography (USD MN)
  •  Automatic Market by Geography (USD MN)
  •  Global Market Analysis by Vertical (USD MN)
  •  IT Market by Geography (USD MN)
  •  Automotive Market by Geography (USD MN)
  •  Government Market by Geography (USD MN)
  •  Healthcare Market by Geography (USD MN)
  •  Financial Services Market by Geography (USD MN)
  •  Retail Market by Geography (USD MN)
  •  Others Market by Geography (USD MN)
  •  Global Market by Revenue
  •  North America Market by Revenue
  •  Europe Market by Revenue
  •  Asia Pacific Market by Revenue
  •  Latin America Market by Revenue
  •  Middle East & Africa Market by Revenue
  •  Recent Development in Industry
  •  Company Market Share Analysis, 2020
 
 * Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.

Objectives of Study

  • Define and measure the global market
  • Volume or revenue forecast of the global market and its various sub-segments with respect to main geographies
  • Analyze and identify major market trends along with the factors driving or inhibiting the market growth
  • Study the company profiles of the major market players with their market share
  • Analyze competitive developments

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