Data Collection and Labeling Market is projected to reach USD 8315 million by 2028, exhibiting a CAGR of 25.8% during forecast period.

Introduction of the Data Collection and Labeling Market Report

Data collection and labeling is a process of collecting datasets from cyber and other sources and labeling them based on their data type, nature, and feature. Data collection is the foremost bottleneck in machine learning and an active research topic in multiple communities. It helps in improvising existing models and data, which ultimately helps in improving the output and is widely being adopted by the verticals like healthcare, automotive, BFSI among others.

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Market Dynamic

Key Drivers and Emerging Trends

Rising technology-driven and artificial intelligence integrated operations in healthcare is a factor that has majorly contributed to the market’s growth. The work efficiency for artificial intelligence training in the healthcare sector is done with the specific medical image interpretations and functions in ophthalmology, pathology, radiology, and dermatology, which has led to the robust growth of the market. In addition, strategic initiatives by the leading players in the market have shifted the paddles for the market. For instance, in 2020 Globalme Localization Inc., the U.S. based AI company, provided the accent collection to Sonos Inc, with its operations by collecting speech data from countries. Furthermore, adopting the data collection and labelling in the manufacturing sector for quality assessments has ensured market growth. For instance, data and labeling in the automotive sector improve the production planning and helps plan a better point of view of the market development. It offers superior vehicle safety for regular transport, enhanced behavioural predispositions to driverless cars, and elevates the market’s ADAS safety standards.

Impact of COVID-19

The verticals worldwide have observed decline since the outbreak of the COVID-19 and has disrupted the supply and demand value chain. Additionally, users and organizations face serious economic disputes due to anomalies in the service-based vertical operations. This was majorly due to the shutdowns of the systems across the globe due to the pandemic which has impacted the market at the global level. This scenario is anticipated to hamper the growth of the market.

Restraint in the Data Collection and Labeling Market

However, inaccuracy in the data annotations is a factor that is expected to hamper the growth of the market. This majorly occurs due to the human error by putting wrong field in the input, which crates a wrong dataset.

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Data Type – Segment Analysis

Based on the data type, text type is witnessed to grow at a higher CAGR in the market over the forecast period. This is due to the rising implementation and adoption of electronic health record, which has pushed the growth of the clinical text in the domain leading to better monitoring and valuable resourceful data.

Vertical – Segment Analysis

Based on the vertical, healthcare is expected to grow at a higher CAGR in the market over the forecast period. This is due to the potential of the healthcare industry which has helped in changing the gears of the market. For instance, artificial intelligence is widely used in the healthcare industry for various applications, such as treatment prediction, diagnostic automation, gene sequencing which uses the highly accurate data and labelling for more efficient purposes.

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Regional – Segment Analysis:

Based on the regional coverage, North America is witnessed to grow at a higher CAGR in the market over the forecast period. This is due to the early on adopters such as the Canada and United States are the edges of artificial intelligence applications of data collection and labelling. Consumer trends such as virtual shopping, and mass-adoption of smart devices that recognize voice, as well as faces will continue to drive growth in this region.

Top Market Players

Various notable players operating in the market, include, Appen Limited, Reality Ai, Globalme Localization Inc., Global Technology Solutions, Alegion, Labelbox, Inc, Dobility, Inc., Scale Ai, Inc., Trilldata Technologies Pvt Ltd, Playment Inc., among others. 

Key Developments:

• • In 2021, Appen Limited, officially announced the launch of new Off-the-Shelf (OTS) Datasets, which has accelerated the artificial deployment.

Segments covered in the Report:

The global data collection and labeling market has been segmented on the basis of data type, vertical, and regions. Based on data type, the market is segmented into text, image/video and audio. Based on vertical, the market is segmented into IT, automotive, government, healthcare, BFSI, retail & e-commerce and others. 

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Key questions answered in this research report:

• • At what pace is global data collection and labeling market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in data collection and labeling market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global data collection and labeling market?
  • Which data type generated maximum revenues in 2019 and identify the most promising data type during the forecast period?
  • What are the various vertical areas of global data collection and labeling market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues (2028)	USD 8315 million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Data Type, By Vertical, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Appen Limited, Reality Ai, Globalme Localization Inc., Global Technology Solutions, Alegion, Labelbox, Inc, Dobility, Inc., Scale Ai, Inc., Trilldata Technologies Pvt Ltd, Playment Inc., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Data Collection and Labeling Market by Data Type

• • Text
  • Image/Video
  • Audio

Global Data Collection and Labeling Market by Vertical

• • IT
  • Automotive
  • Government
  • Healthcare
  • BFSI
  • Retail & E-Commerce
  • Others

Global Data Collection and Labeling Market by Region

• • North America Data Collection and Labeling Market (Option 1: As a part of the free 25% customization)
    • North America Data Collection and Labeling Market by Data Type
    • North America Data Collection and Labeling Market by Vertical
    • US Data Collection and Labeling Market All-Up
    • Canada Data Collection and Labeling Market All-Up
  • Europe Data Collection and Labeling Market (Option 2: As a part of the free 25% customization)
    • Europe Data Collection and Labeling Market by Data Type
    • Europe Data Collection and Labeling Market by Vertical
    • UK Data Collection and Labeling Market All-Up
    • Germany Data Collection and Labeling Market All-Up
    • France Data Collection and Labeling Market All-Up
    • Spain Data Collection and Labeling Market All-Up
    • Rest of Europe Data Collection and Labeling Market All-Up
  • Asia-Pacific Data Collection and Labeling Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Data Collection and Labeling Market by Data Type
    • Asia-Pacific Data Collection and Labeling Market by Vertical
    • China Data Collection and Labeling Market All-Up
    • India Data Collection and Labeling Market All-Up
    • Japan Data Collection and Labeling Market All-Up
    • Rest of APAC Data Collection and Labeling Market All-Up
  • RoW Data Collection and Labeling Market (Option 4: As a part of the free 25% customization)
    • RoW Data Collection and Labeling Market by Data Type
    • RoW Data Collection and Labeling Market by Vertical
    • Brazil Data Collection and Labeling Market All-Up
    • South Africa Data Collection and Labeling Market All-Up
    • Saudi Arabia Data Collection and Labeling Market All-Up
    • UAE Data Collection and Labeling Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Data Collection and Labeling Market All-Up

Major Players Operating in the Data Collection and Labeling (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Appen Limited
  • Reality Ai
  • Globalme Localization Inc.
  • Global Technology Solutions
  • Alegion
  • Labelbox, Inc
  • Dobility, Inc.
  • Scale Ai, Inc.
  • Trilldata Technologies Pvt Ltd
  • Playment Inc.