The Europe Data Labeling Solution And Services Market would witness market growth of 19.3% CAGR during the forecast period (2023-2030).
The market opportunity has significantly expanded due to the increasing dependence on the virtual world for data collection, classification, and integration. As the virtual world's firmly established, it was not unexpected to see that this market is anticipated to expand. The demand for labeling solutions will likely expand as more businesses adopt advanced analytical tools like big data analytics, augmented reality, and IoT.
Data labeling tools aid users in creating data value by adding attribute tags. Data labeling is the act of recognizing unprocessed information (text, videos, photos, etc.) and adding one or more meaningful labels to provide context. Numerous industries have used machine learning, including robots and drones, automated photo organization on visual websites, and facial recognition on social networking websites supported by data collection. Data labeling solutions and services are primarily fuelled by the automotive industry's significant expansion, particularly in self-driving cars.
As per the government of Europe, Germany’s healthcare system could benefit from digital technologies to improve patient-centred care. The German Federal Government has financed 22 projects totalling roughly EUR 50 million for up to 36 months throughout the 2020–2023 term under the funding program “Digital Innovations for the Improvement of patient-focused Services in the health care system”. They help to show the potential advantages of AI techniques when used in conjunction with the use and evaluation of enormous amounts of data for patient care. The market is expected to expand alongside AI technology’s increasing popularity and digitalization of healthcare sector in the region.
The Germany market dominated the Europe 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 $3.1 billion by 2030. The UK market is estimated to grow at a CAGR of 18.3% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 20.2% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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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