Data Collection and Labeling Market: Overview
Data collection and labeling technologies and tools are
extensively used in machine learning applications. These tools form a key part
of the development of machine learning and artificial intelligence products.
They help in extracting valuable insights from a vast collection of data. The
huge data repository is characteristics of social media websites, visual
websites, and wide spectrum of emerging digital marketing media platforms.
Additionally, they also form a part of spam detection techniques. Thus, the data
collection and labeling market has evolved on the back of the
need for gaining business insights for applications such as robotics, drones,
and autonomous vehicle systems.
Key application areas are in healthcare, government, and
automotive sectors. One of the key objectives of such data collection and
labeling is meeting the needs of security and surveillance. An example is the
use of data collection technologies for facial recognition used by law
enforcement agencies.
The study on the data collection and labeling market strives
to offer all-encompassing assessment of key demand trends, consumer insights,
technological advances, and prospects in various end-use industries. The research
offers insights into the share and size of various segments including the
regional ones during the forecast period of 2020 – 2030.
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Data Collection and Labeling Market: Key
Trends
Strides in the data collection and labeling market are
bolstered by the growing application of machine learning tools and algorithm in
commercial and research applications. The growing role of garnering insights from
vast volumes of data sets for national security and surveillance is boosting
the market. The demand has also been spurred by the prospects of such data
collection and labelling in reducing the chances of phishing and spamming,
especially in government sector.
One promising avenue has come from measuring emotional
contagion in social media, where data collection and labelling has held high
prospects. Growing popularity of Twitter and Facebook has also fueling the
demand. However, the prospect of the market in social-media-based
micro-communications is relatively new. Rise in avenues for proliferation of
data offers a huge undercurrent to the expansion of the data collection and
labelling market.
Growing demand for cloud-based media services has also
spurred prospects in the data collection and labeling market. The application
has also risen on the back of strides being made in digital marketing channels.
Ecommerce is source of vast volumes of data that need to be labeled for
extracting business insights.
Data Collection and Labeling Market: Competitive Analysis
and Key Developments
Companies engaged in AI software development and machine
learning systems have been leaning on expanding their customer base in the data
collection and labeling market. They are getting into strategic mergers,
acquisitions, and partnerships to meet the demands of a wide customer base.
Several players are tapping into the recently emerging revenue streams in the
autonomous vehicle system market. E-commerce companies are keen on adopting
machine learning systems that leverage the techniques of data collection and
labeling.
Some of the key companies aimed at expanding their stakes in
the data collection and labeling market are Playment Inc., Appen Limited,
Trilldata Technologies Pvt., Ava Labs, Dobility, Inc., Labelbox, Inc., Alegion,
Global Technology Solutions, and Globalme Localization Inc.s
Data Collection and Labeling Market: Regional Assessment
Regionally, North America and Europe have been remarkably
lucrative markets. The expansion of these regional markets is underpinned by
the rapidly expanding application avenues. The integration of artificial
intelligence with mobile computing platforms is one such instance that has
spurred vast revenue prospects in the data collection and labeling market. Rise
in demand in the automotive sector is also spurring the prospects.
On the other hand, proliferating volumes of data in Asia
Pacific has been due to the extensive use of smart devices. Burgeoning social
media users has also boosted opportunities in the regional market.
This study by TMR is all-encompassing framework of the
dynamics of the market. It mainly comprises critical assessment of consumers'
or customers' journeys, current and emerging avenues, and strategic framework
to enable CXOs take effective decisions.
Our key underpinning
is the 4-Quadrant Framework EIRS that offers detailed visualization of four
elements:
- Customer Experience
Maps
- Insights
and Tools based on data-driven research
- Actionable Results
to meet all the business priorities
- Strategic
Frameworks to boost the growth journey
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The study strives to evaluate the current and future growth
prospects, untapped avenues, factors shaping their revenue potential, and
demand and consumption patterns in the global market by breaking it into
region-wise assessment.
The following
regional segments are covered comprehensively:
- North
America
- Asia
Pacific
- Europe
- Latin
America
- The
Middle East and Africa
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