The North America Data Labeling Solution And Services Market would witness market growth of 18.0% CAGR during the forecast period (2023-2030).
As technology may help automate and speed up the labeling process, generative AI can be useful for data labeling. Numerous businesses are attempting to automate the data labeling process using generative AI, and they have developed cutting-edge platforms such as GPT (Generative Pre-Trained Transformer), ChatGPT, InstructGPT, and others. These platforms utilize neural network designs widely utilized in natural language processing (NLP) activities like text generation, translation, and sentiment analysis. Market players are introducing new offerings to meet the growing need for data labeling solutions and services.
For instance, OpenAI released the Generative Pre-trained Transformer 3 (GPT-3) in June 2020. The GPT3 model has inspired the community of researchers studying natural language processors to investigate GPT3 as a useful tool for data annotation. Compared to human labeling, GPT3 data annotation is substantially less expensive. Medical imaging annotations are labour-intensive and expensive tasks carried out by clinical professionals in the healthcare industry. However, the capacity of GPT3 can be used to save time & money by identifying patterns in unstructured clinical data and extracting crucial information from fragmented data in electronic health records.
Organizations in North America are investing in infrastructure and technology to collect, store, and analyze enormous volumes of data produced by linked systems and devices. These insights foster innovative thinking, process improvement, and well-informed decision-making, enhancing corporate results. North America has been in the forefront of implementing cutting-edge technology, making it a center for digital transformation. The area has seen a stronger acceptance of digital transformation due to the pressing necessity for businesses operating there to convert their traditional business methods to digital and the quick uptake of mobile devices, cloud computing, and IoT technologies. As a result, these approaches motivate businesses to embrace digital platforms. This wide adoption of digital platforms would further contribute to market’s growth in the region.
The US market dominated the North America Data Labeling Solution And Services Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $10.9 billion by 2030. The Canada market is poised to grow at a CAGR of 20.6% during (2023 - 2030). Additionally, The Mexico market would showcase a CAGR of 19.6% during (2023 - 2030).
Based on Type, the market is segmented into Image/Video, Text, and Audio. Based on Labeling Type, the market is segmented into Manual, Semi-Supervised, and Automatic. Based on Sourcing Type, the market is segmented into Outsourced, and In-House. Based on Vertical, the market is segmented into IT, Automotive, Financial Services, Government, Healthcare, Retail, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Data Labeling Solution And Services Market is Projected to reach USD 46.9 Billion by 2030, at a CAGR of 19.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC (Alphabet Inc.), Appen Limited, TELUS International (Playment, Inc.), Yandex N.V., Uber Technologies, Inc. (Mighty AI, Inc.), Zight, Alegion, Inc., Scale AI, Inc., Labelbox, Inc., Cogito Tech LLC
By Type
By Labeling Type
By Sourcing Type
By Vertical
By Country
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