The Global AI Training Dataset Market size is expected to reach $3.1 billion by 2027, rising at a market growth of 17.4% CAGR during the forecast period. Artificial Intelligence (AI) is considered as the broad branch of computer science that is associated with developing smart machines that can carry out tasks without the help of human intelligence. AI has gained a vital place in several industrial applications like IT, retail & e-commerce, healthcare, BFSI, and manufacturing. In addition, the rising demand for application-specific training data is offering lucrative opportunities for the new players. Artificial Intelligence has become important to big data because it enables to obtain the complex and high-level abstractions utilizing a hierarchical learning process and helps in obtaining meaningful patterns from large volume data through extraction and mining processes.
AI allows machines to perform tasks like a human by learning from experience and adjusting to the new inputs. Artificial Intelligence trains machines to process a huge volume of data and control patterns to complete the task given to them. Specific datasets are needed for the training of these machines. Thus, there is a huge demand for AI training datasets to fulfill this need in the market.
These machines perform tasks according to the dataset provided to them. Hence, it is necessary to offer superior-quality datasets to machines for better training. The superior-quality dataset helps in improving the performance level of artificial intelligence, resulting in decreasing the time taken to prepare data, and also helps in improving predictions precision. Therefore, the market players across the globe are aiming to acquire companies, which assist in improving the data quality.
The outbreak of the COVID-19 pandemic has encouraged developments in applications and technologies that are used in various sectors. Also, the pandemic has increased the adoption rate of AI in sectors like healthcare. The crisis has created a situation where all industries are facing challenges in running their business. To respond to this situation, AI-based tools and solutions have found their great deployment in all sectors. The key players in the market are focusing on shifting their business towards digitalization, due to which, there is a huge demand for AI solutions in the market.
Hence, these factors are accountable to have a positive effect on the AI training dataset market during the COVID-19 pandemic. In addition, to facilitate smooth operations of businesses during the pandemic, businessmen were compelled to deploy advanced analytics and other AI-based technologies. Moreover, businesses have become dependent on advanced technologies, which are anticipated to surge the growth of the market in the coming years. Further, several industries like healthcare, IT & automotive, and e-commerce are projected to fuel the deployment rate of the AI training dataset. Therefore, it can be estimated that the growth of the AI training dataset market will accelerate during the forecast period.
A training dataset is a collection of information that is used to develop a machine learning model, through which the model creates and refines its rules. The quality of the training dataset has intense implications for the model’s successive development, setting an ideal example for all future applications that may utilize the same training dataset.
The huge volume of data produced from several technologies like machine learning, big data, and artificial intelligence has increased the demand for AI training datasets. A large volume of unstructured and irrelevant data is produced by these technologies, thus, it is essential to train a machine learning model through precise and appropriate data.
AI is a complicated system and for its adoption and management, companies need a workforce with special skill sets. For example, a workforce that is operating AI systems should have working experience with technologies like machine learning, machine intelligence, deep learning, image recognition, and cognitive computing. The incorporation of AI solutions with the present systems is a complex task that needs large data processing to replicate the human brain behavior.
Based on Type, the market is segmented into Image/Video, Text and Audio. The image or video type segment is anticipated to witness the highest growth rate over the forecast years. This surge in the growth of this segment is due to the increasing interest of key players of the markets towards the introduction of the latest datasets along associated with the growing number of applications.
Based on End User, the market is segmented into IT & Telecom, Retail & E-commerce, Government, Healthcare, Automotive, and Others. Several technology companies across the market are utilizing machine learning solutions to offer a better user experience and introduce modern products. To be efficient, machine learning technology needs superior-quality training data to ensure that ML algorithms are continuously enhanced. Additionally, superior-quality datasets assist IT companies to improve several solutions like data analytics, computer vision, virtual assistants, crowdsourcing, and many others. These aspects are propelling the demand for great use of training datasets across the sector.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 993.6 Million |
| Market size forecast in 2027 | USD 3.1 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 17.4% from 2021 to 2027 |
| Number of Pages | 188 |
| Number of Tables | 293 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Application, Product, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. There is a rapid surge in the deployment rate of the latest technologies by companies in emerging nations like India to bring improvement to their businesses. In addition, several key players are concentrating on increasing their existence in the Asia Pacific region. These determinants are projected to augment the utilization of dataset across the region and thus, are accounted to bolster the growth of the market during the forecast period.
Free Valuable Insights: Global AI Training Dataset Market size to reach USD 3.1 Billion by 2027
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Google, Inc. and Microsoft Corporation are the forerunners in the AI Training Dataset Market. Companies such as Amazon Web Services, Inc., Telus International, Scale AI Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google, LLC (Kaggle), Appen Limited, Cogito Tech LLC, Telus International (Telus Corporation), Amazon Web Services, Inc., Microsoft Corporation, Scale AI Inc., Sama Inc., Alegion, and Kinetic Vision, Inc. (Deep Vision Data).
By Application
By End User
By Geography
The global AI training dataset market size is expected to reach $3.1 billion by 2027.
Several enhancements in the field of AI training dataset are driving the market in coming years, however, lack of expertise have limited the growth of the market.
Google, LLC (Kaggle), Appen Limited, Cogito Tech LLC, Telus International (Telus Corporation), Amazon Web Services, Inc., Microsoft Corporation, Scale AI Inc., Sama Inc., Alegion, and Kinetic Vision, Inc. (Deep Vision Data).
The expected CAGR of the AI training dataset market is 17.4% from 2021 to 2027.
Yes, The pandemic has increased the adoption rate of AI in sectors like healthcare. The crisis has created a situation where all industries are facing challenges in running their business.
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