Data Collection and Labeling Market is Estimated to Reach USD 18.60 Billion by 2030: Cognitive Market Research

Market Overview:
Data collection and labeling is the process of gathering and organizing data and adding metadata to it for better analysis and understanding. This process is critical in machine learning and artificial intelligence, as it provides the foundation for training algorithms that can identify patterns and make predictions.
Data collection involves gathering raw data from various sources, including sensors, databases, websites, and other forms of digital media. The collected data may be unstructured or structured, and it may be in different formats, such as text, images, videos, or audio.

Summary:
As per the study of CMR, The Global Data Collection and Labeling Market size was valued at USD 2.41 Billion in 2022 and will reach USD 18.60 Billion by 2030, at a CAGR of 29.1% during the forecast period (2023-2030).

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Market Dynamics
As machine learning and artificial intelligence become more prevalent, the demand for high-quality training data is increasing. This is because algorithms need accurate and well-labeled data to learn and make accurate predictions. This factor is accelerating the growth of the Data Collection and Labeling Market. Moreover, the advancement in technology is one of the major factors contributing to the market growth. Technological advancements have made data collection and labeling more efficient and accurate. For example, computer vision algorithms can now label images and videos automatically, reducing the need for manual labeling. Similarly, the growing need for data in various industries and data collection and labeling is critical in industries such as healthcare, finance, retail, and automotive. As these industries become more data-driven, the need for accurate and well-labeled data is increasing, which is driving the market's growth.

Market Segmentation:
Data Type
• Audio
• Image/ Video
• Text
Based on Data Type, Image/Video segment held the largest share in the year 2022. This is due to increasing application of computer vision across a range of industries, including transportation, medicine, media, and entertainment.

Vertical
• IT
• Automotive
• Government
• Healthcare
• BFSI
• Retail & E-Commerce
• Others
Based on Vertical, IT segment accounted for the major share in the year 2022 owing to increasing adoption of advanced technologies such as Artificial Intelligence (AI). However, Healthcare sector is projected to register significant growth during forecast period of analysis.

Competitive Analysis of Data Collection and Labeling Market: Alegion, Appen Limited, Ava Labs, Avery Dennison Corporation, Dobility, Global Technology Solutions, Globalme Localization, Labelbox, Playment, Reality AI, Scale AI, Trilldata Technologies

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North America is a leading region of the Data Collection and Labeling market
North America is accounted for the largest share of the Data Collection and Labeling market in the year 2022 owing to the increasing adoption of cloud-based media services and presence of major players. North America is home to several major players in the data labeling market, including Amazon Web Services, Google LLC, and Microsoft Corporation. These companies have significant market share and invest heavily in research and development to improve their data labeling capabilities. This factor is driving the growth of Data Collection and Labeling market in this region.

Browse Here For Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Data Collection And Labeling Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Data Collection And Labeling Market Segmentation
1.5.1 Data Collection And Labeling Market Regional Fragmentation
1.5.1 Data Collection And Labeling Market Players
• 1.6 Report Duration
• 1.7 List of Stakeholders
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Data Collection And Labeling Market
• 3.1 Global Data Collection And Labeling Market Size 2018 - 2030, (USD Million)
• 3.2 Global Data Collection And Labeling Value, Absolute & Opportunity Analysis
• 3.3 Global Data Collection And Labeling Market Y-o-Y Growth Rate Projection by Region (2023 - 2030)
• 3.4 Global Data Collection And Labeling Market Statistics 2022: Snapshot
Chapter 4 Global Data Collection And Labeling Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Environmental, Social, and Governance (ESG) Analysis
Chapter 7 Qualitative Analysis
Chapter 8 Company Profiling (Subject to Availability)
Chapter 9 Global Data Collection And Labeling Market by Data Type Segmentation Analysis (2018-2030)
Chapter 10 Global Data Collection And Labeling Market by Vertical Segmentation Analysis (2018-2030)
Chapter 11 Global Data Collection And Labeling Market Regional Analysis
Chapter 12 North America Data Collection And Labeling Market Outlook (2018 - 2030)
Chapter 13 Europe Data Collection And Labeling Market Outlook (2018 - 2030)
Chapter 14 Asia Pacific Data Collection And Labeling Market Outlook (2018 - 2030)
Chapter 15 Latin America Data Collection And Labeling Market Outlook (2018 - 2030)
Chapter 16 Middle East and Africa Data Collection And Labeling Market Outlook (2018 - 2030)
Chapter 17 Research Findings
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