The Global Data Collection and Labeling Market size is expected to reach $3.5 billion by 2026, rising at a market growth of 28.4% CAGR during the forecast period. Social media monitoring is one of the most common applications for data collection, as the key factors in digital marketing are visual listening and visual analytics. The technology is also used extensively in security-related applications, such as data collection for facial recognition used by law enforcement agencies.
Global Data Collection and Labeling Market Size
Many businesses are taking strategic steps by outsourcing data collection and labeling services to create strong machine-learning models. For example, Globalme Localization Inc., a U.S. - based data collection firm, provided Sonos Inc., a U.S .- based audio company with the dialect and accent audio processing. Through collecting accents and speech data across three continents, Sonos Inc. combined the digital home assistants with their wireless speakers. The integration helped to fine-tune the company's speech recognition systems to provide a better voice experience.
Data Collection and Labeling Market Share
Data labeling is the manual solution for machine learning and AI applications data by humans. Labeling data is important because computers have endless shortcomings and some of them can't be overcome easily without human intervention. A machine can potentially be trained to do complex calculations and manage tasks that would be too burdensome for humans to handle manually, but the same cannot tell the difference between a dog's and a car's picture in a photo without proper training. In short, machines use a dataset-based algorithm to understand what normally involves someone to supervise. It is called supervised machine learning loosely because computers require human guidance to be qualified to perform tasks that are difficult for robots, but obviously easy for people like image recognition. Hence, there is the need for a data labeler.
Based on Data type, the market is segmented into Text, Image/Video and Audio. Based on End User, the market is segmented into BFSI & IT, Retail & Ecommerce, Healthcare, Government, Automotive and Others. The report also covers geographical segmentation of Data Collection and Labeling market. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global Data Collection and Labeling Market to reach a market size of $3.5 billion by 2026
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Avery Dennison Corporation, Appen Limited, Reality Analytics, Inc. (Reality AI), Alegion, Inc., Labelbox, Inc., Scale AI, Inc., Playment, Inc., Dobility, Inc., Summa Linguae Technologies S.A. (Globalme Localization, Inc.), Global Technology Solutions.
Market Segmentation:
By Data Type
By End User
By Geography
Companies Profiled
The data collection & labeling market is projected to reach USD 3.5 billion by 2026.
The major factors that are anticipated to drive the data collection & labeling industry include growing need to make text/ image more interactive and engaging, Rapid penetration of AI and machine learning, and Semi-Automated Data Labeling for Activity Recognition in Pervasive Healthcare.
The North America market region contributed the highest share in 2019.
Avery Dennison Corporation, Appen Limited, Reality Analytics, Inc. (Reality AI), Alegion, Inc., Labelbox, Inc., Scale AI, Inc., Playment, Inc., Dobility, Inc., Summa Linguae Technologies S.A. (Globalme Localization, Inc.), Global Technology Solutions.
The expected CAGR of data collection & labeling market is 28.4% from 2020 to 2026.
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