According to a new report, published by KBV research, The Global Data Labeling Solution And Services Market size is expected to reach $46.9 billion by 2030, rising at a market growth of 19.5% CAGR during the forecast period.
The Image/Video segment is generating high revenue in the Global Data Labeling Solution And Services Market by Type in 2022; thereby, achieving a market value of $18.0 billion by 2030. The significant share can be attributed to expanding computer vision applications across several sectors, including the automotive, healthcare, media, and entertainment industries. For instance, one of the important image-labeling applications is medical imaging. The improved image/video technology is another aspect linked with the expansion of Data Labeling Solution And Services Market in this segment.
The Automatic segment is exhibiting a CAGR of 22.5% during (2023 - 2030). The market is expanding due to the prominently rising use of AI in the data labeling industry, which supports the abstraction of complex and high-level perceptions from datasets through a hierarchical learning process. The growing requirement for data mining and pattern extraction from massive amounts of data will probably increase the demand for automatic data annotation solutions.
The Outsourced segment acquired maximum revenue share in the Global Data Labeling Solution And Services Market by Sourcing Type in 2022; thereby, achieving a market value of $36.8 billion by 2030. Cost-effectiveness and short-term commitments are key factors for the growth in this segment. Outsourced companies aid enterprises in achieving a flexible approach to building annotative capacity, reliable security measures, and consultation techniques for their labeling requirements.
The Automotive segment is anticipated to grow at a CAGR of 19.1% during (2023 - 2030). It is probably attributed to the growing usage of data labeling technology in autonomous vehicles, which is anticipated to contribute to the significant expansion in the automotive segment. Self-driving cars can detect barriers with the aid of this technology and can alert the driver to the existence of safeguards and walkways nearby. Automotive data labeling technology can also detect stoplights and road signs.
The North America region dominated the Global Data Labeling Solution And Services Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $15.2 billion by 2030. The Europe market is estimated to grow at a CAGR of 19.3% during (2023 - 2030). Additionally, The Asia Pacific market would showcase a CAGR of 20.5% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/data-labeling-solution-and-services-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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By Labeling Type
By Sourcing Type
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Companies Profiled
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