Data Annotation Tools Market Competitive Insights 2021 - APPEN LIMITED, CLOUDAPP, COGITO TECH LLC, DEEP SYSTEMS LLC, LABELBOX INC, LIGHTTAG, LOTUS QUALITY ASSURANCE, PLAYMENT INC

Global Data Annotation Tools Market is esteemed around USD 492 million of every 2020 and is expected to develop with a solid development pace of over 26.20% over the figure period 2021-2027. Data annotation, fundamentally, is naming of data to make it more lean, cleaner and valuable for additional preparing. A data annotation instrument is a cloud-based or containerized programming arrangement that can be utilized to comment on creation grade preparing data with the end goal of AI. They are for the most part intended to be utilized with unequivocal sorts of data, like picture, video, text, sound, or sensor data. Marking the data makes objects unmistakable to PC vision, which further trains the machine.

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It is extremely valuable in man-made reasoning and AI. Previously mentioned benefits, combined with the ascent of large data and expanded interest from medical services, auto and retail businesses, are driving the Data Annotation Tools market. In medical services industry, annotation is utilized for clinical envisioning and medication advancement. In auto area, self-driving vehicles utilize the data annotation tools for data and picture order. In June 2019, Uber procured a Seattle startup, Mighty AI, which creates preparing data for PC vision models. The group at Mighty AI fabricated an innovation to name data and pictures at scale utilizing the most recent AI and client experience procedures. Uber likewise put $457 million last year in the organization's Pittsburgh-based Advanced Technologies Group, which supervises self-driving tech. In 2019, Apple purchased Drive.ai, a self-sufficient driving startup once esteemed at $200 million. The issue of precise annotation of data, because of nature of datasets just as the force of tools, may go about as a limitation for its development. In any case, expanding advancement, innovative work of the data annotation innovation goes about as a chance for Data Annotation Tools Market in ensuing decade.

Key locales, for example, Asia Pacific, North America, Europe, Latin America and Rest of the World are investigated to give a comprehensive image of Data Annotation Tools Market. Because of higher number of organizations in medical services and car taking on AI in innovative work just as higher per capita pay, North America arose as a critical area across the world as far as piece of the pie. Though, Asia-Pacific is relied upon to show most elevated development rate for the conjecture time frame 2021-2027 attributable to the rising mindfulness for reception of new advancements in end-use businesses, especially retail, auto and medical services.

Major market player included in this report are:
ANNOTATE.COM
APPEN LIMITED
CLOUDAPP
COGITO TECH LLC
DEEP SYSTEMS, LLC
LABELBOX, INC
LIGHTTAG
LOTUS QUALITY ASSURANCE
PLAYMENT INC.
TAGTOG SP. Z O.O.

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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:
By Type:
Text
Image/Video
Audio

By Annotation Type:
Manual
Semi-supervised
Automatic

By Vertical:
IT
Automotive
Government
Healthcare
Financial Services
Retail
Others

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Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027

Target Audience of the Global Data Annotation Tools Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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