The Asia Pacific Data Labeling Solution And Services Market would witness market growth of 20.5% CAGR during the forecast period (2023-2030).
Due to benefits including extracting business insights from socially shared photos and automatically organizing untagged photo collections, this market is expected to see a boom in usage. Additionally, the application of data labeling technology in autonomous vehicles is growing, which is anticipated to support significant growth in the automotive sector. Self-driving cars may identify impediments with this technology and can alert the driver to the presence of barriers and walkways nearby. Technology can also analyze stoplights and road signs.
New business innovations, economic theories, and infrastructure are becoming feasible due to the growing significance of data efficiency and the advancement of technology. These elements have contributed to this market to grow. Many data-driven applications are expected to witness increased demand for tools and solutions for autonomous data labeling due to the considerable advancement of machine learning in automated data analytics. Additionally, the growing popularity of picture annotation is projected to improve operations in the automotive, healthcare, and retail sectors, increasing the need for data labeling technology.
In January 2022, China released its "14th Five-Year Plan for the Development of the Digital Economy," according to the International Trade Administration. China wants its "core industries" to increase from 7.8% of total GDP in 2020 to 10% by 2025, and it considers the digital economy essential to achieving these goals. The Plan calls for enhancing and modernizing digital infrastructure (such as the rollout of 5G networks); ensuring the full utilization of data as a fundamental "factor of production,"; implementing digital transformation across all industries; boosting innovation capabilities in significant areas such as sensors, quantum computing, AI, and blockchain; and enhancing the governance framework for the digital economy. The growth in the market has been boosted by a variety of government initiatives to support digital transformation in the region.
The China market dominated the Asia Pacific 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 $3.9 million by 2030. The Japan market is estimated to grow at a CAGR of 19.7% during (2023 - 2030). Additionally, The India market would register a CAGR of 21.2% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
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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