Global Automated Data Annotation Tool Market: Introduction
Automated data annotation is an automated process of labeling data to make it usable for machine learning and the data includes images (from cars, phones, or medical instruments), text (in English, Spanish, Chinese, or any other language), audio, video, 3D models from MRIs and CAT scans, tabular data, time series data and LIDAR data, RADAR data, or data from other sensors.
For Right Perspective & Competitive Insights on Automotive Brake Override System Market, Request for a Sample
Global Automated Data Annotation Tool Market – Dynamics
Access to Specialized Resources and Skills
One of the major driving factors of an automated data annotation tool is it empowers the company to gain specialized expertise in machine learning. Machine learning based trained AI models or automated applications provide a totally different and seamless experience for end-users. For instance, in virtual assistance, speech recognition technology is used with the help of natural language process to understand the human language and communication.
Unawareness among SMEs
Regions such as South America and Asia Pacific face strong technological and digital gaps which leads to unawareness among business enterprises. The level of awareness among SMEs or micro businesses to smoothly run automated data annotation tools at a remote location is not very effective. Ignorance about automated data annotation tools and low skilled personnel with regards to machine learning within SMEs in these regions is hampering the growth of the market.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
North America to Dominate the Global Automated Data Annotation Tool Market
In terms of region, the global automated data annotation tool market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the automated data annotation tool market during the forecast period due to its strong growth in machine learning and its applicability in many devices.
COVID-19 Impact on the Global Automated Data Annotation Tool Market
The COVID-19 pandemic is expected to moderately impact the global automated data annotation tool market for a short-term period. Lockdown and slow growth during this period has reduced the amount of expenditure and investment in this technology.
Global Automated Data Annotation Tool Market – Competition Landscape
- In January 2020, IBM Corporation launched an annotation tool which taps AI to label images. The launch will help to develop easy and collaborative open source image annotation tools for teams and individuals.
Incorporated in 1911, IBM manufactures and sells computer hardware and software and offers infrastructure services, hosting services, and consulting services in areas ranging from mainframe computers to nanotechnology. The company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems, and Global Financing.
Global Automated Data Annotation Tool Market: Segmentation
The global automated data annotation tool market can be segmented based on:
Global Automated Data Annotation Tool Market, by Type
Based on type, the global automated data annotation tool market can be divided into:
- Text Annotation Tool
- Image Annotation Tool
Global Automated Data Annotation Tool Market, by Application
In terms of application, the global automated data annotation tool market can be segregated into:
Regional analysis of the global automated data annotation tool market includes:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.