About Data Collection and Labelling
Data collection and Labelling is the process of identifying raw data and adding one or more meaningful and informative labels to provide context so that a machine learning model can learn from it. This labels are used to indicate whether a photo contains a bird or car, which words were uttered in an audio recording. Data Labelling is essential for a variety of use cases including computer vision, natural language processing, and speech recognition.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The market of Data Collection and Labelling is expected to grow with rising demand for 3D imaging. Several companies are operating in the market to provide Data Collection and Labelling technology with number of unique features. The market is highly fragmented with the presence of several market players. They are gaining attention owing to their innovative and novel portfolio. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Data Collection and Labelling market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Reality AI (United States), Globalme Localization Inc. (Canada), Alegion (Austria), Labelbox, Inc. (United States), Dobility, Inc. (United States) and Scale AI, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Trilldata Technologies Pvt Ltd (India), Appen Limited (Australia) and Playment Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Data Collection and Labelling market by Type (Computer Vision, Natural Language Processing and Audio Processing), Application (Image Recognition, Natural Language Processing (NLP), Healthcare and Finance) and Region.
On the basis of geography, the market of Data Collection and Labelling has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Data Type, the sub-segment i.e. Audio will boost the Data Collection and Labelling market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Automotive will boost the Data Collection and Labelling market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing R&D spending on the development of self-driving vehicles, Crowdsourcing and distributed labor for data labeling. and Active learning techniques to reduce labeling requirements.
Market Growth Drivers:
Growing End Use Expenditure Has Created Demand and Increasing Adoptions for Cloud Based Service
Challenges:
Maintaining data quality and consistency across large datasets. and Scaling up labeling processes to meet the demand for diverse datasets.
Restraints:
Privacy concerns and ethical considerations related to data collection and labeling. and Difficulty in obtaining high-quality labeled data, especially in specialized domains.
Opportunities:
Market growth for data labeling services and tools. and Leveraging AI itself to automate and improve data labeling processes.
Market Leaders and their expansionary development strategies
In July 2021, Algorithmia Inc., .-based Machine Learning Operations (MLOps) software platform, was purchased by DataRobot, Inc. The platform, which was developed to meet the needs of IT operations specialists, enables businesses to handle the generation of complicated models in huge volumes in a safe and effective manner.
InIn December 2021, To speed up manufacturing data labeling, Sight Machine, a provider of a digital manufacturing platform meant to address fundamental issues with quality and productivity throughout the organization, announced a partnership with NVIDIA Corp. By linking its streaming data pipeline to the NVIDIA AI platform, which utilizes Microsoft Azure infrastructure to find data to assets on a global scale, Sight Machine hopes to get past the difficulty of categorizing data.
The FD&C Act applies to food, drugs, cosmetics, biologics, and medical devices. Section 201 defines the terms "label", and "labeling" as they ap ly to medical devices and draws a distinction between, these terms. Section 502( ? )(I) and (2) requires that device labeling bear adequate, directions for use, operating and servicing instructions, and either adequate, warnings a ainst dangerous uses to health, or information necessary for the and protection.
Key Target Audience
Data Collection and Labelling Providers, New Entrants/Investors, Strategic Business Planners, Governments and End Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.