LAMEA Data Collection and Labeling Market By Data type (Text, Image/Video and Audio) By End User (BFSI & IT, Retail & Ecommerce, Healthcare, Government, Automotive and Others) By Country, Industry Analysis and Forecast, 2020 - 2026
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The Latin America, Middle East and Africa Data Collection and Labeling Market would witness market growth of 31.5% CAGR during the forecast period (2020-2026). Numerous data processing innovations have evolved with the emergence of cloud media services and the rise of mobile devices, such as multilingual voice recognition, data classification, and data labeling. But data labeling inaccuracy remains a threat to the growth of the industry. For example, low-resolution images are hard to mark, and labeling errors result in the additional cost and effort to the process. Automated technologies are now being implemented to reduce reliance on manual processes.
The advent of digital recording devices, particularly cameras built into smartphones, has resulted in an exponential increase in digital content volume in the form of images and videos. Different applications, websites, social networks, and other digital platforms collect and exchange a large amount of visual and digital content. Many businesses have leveraged this accessible online content to provide their customers with smarter and better services, using content labelling. For example, Scale AI, Inc., the U.S .- based tech startup, has provided its autonomous driving clients, including Waymo LLC; Lyft, Inc.; Zoox; and Toyota Research Institute, with useful data labeling services.
Data cleaning, however, appears to be a major problem for data labeling. Also, given the time, difficulty, and cost of designing machine learning models, many businesses do not have the resources that will deliver reasonable and reliable results. A number of businesses are therefore taking proactive steps to expand their business in the field of artificial intelligence-based data collection.
Based on Data type, the market is segmented into Text, Image/Video and Audio. Based on End User, the market is segmented into BFSI & IT, Retail & Ecommerce, Healthcare, Government, Automotive and Others. The report also covers geographical segmentation of Data Collection and Labeling market. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include Avery Dennison Corporation, Appen Limited, Reality Analytics, Inc. (Reality AI), Alegion, Inc., Labelbox, Inc., Scale AI, Inc., Playment, Inc., Dobility, Inc., Summa Linguae Technologies S.A. (Globalme Localization, Inc.), Global Technology Solutions.
Scope of the LAMEA Data Collection and Labeling Market Analysis
By Data Type
By End User
- BFSI & IT
- Retail & Ecommerce
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Avery Dennison Corporation
- Appen Limited
- Reality Analytics, Inc. (Reality AI)
- Alegion, Inc.
- Labelbox, Inc.
- Scale AI, Inc.
- Playment, Inc.
- Dobility, Inc.
- Summa Linguae Technologies S.A. (Globalme Localization, Inc.)
- Global Technology Solutions
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