Data Collection and Labeling Industry Data Book - Data Collection and Data Labeling Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030
The global Data Collection and Labeling Industry was estimated at USD 2.22 billion in 2022 and is expanding at a significant CAGR of 28.9% from 2023 to 2030, according to a new report by Grand View Research, Inc.
Grand View Research’s data collection and labeling sector data book is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Access the Global Data Collection and Labeling Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Data Collection Market Growth & Trends
The global data collection market size was valued at USD 1.41 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 30.1% from 2023 to 2030. Data collection involves gathering, acquiring, and aggregating data from various sources. It encompasses various methods and technologies for collecting data, including sensor networks, web scraping, and more. The data collected can be structured or unstructured and come from different domains, such as social media, healthcare, and finance. The exponential growth of digital information has led to the emergence of big data. Businesses and organizations across industries recognize the value of data in making informed decisions, improving operations, and gaining competitive advantages. As a result, there is a growing demand for data collection services to acquire and manage large volumes of data.
E-commerce websites, social media platforms, and online forums have become rich sources of valuable data. Enterprises seek to extract insights from user-generated content, online reviews, and social media interactions. Data collection techniques like web scraping and sentiment analysis are used to gather and analyze data from these platforms. Furthermore, the Internet of Things (IoT) enabled data collection from interconnected devices and sensors. Industries like manufacturing, healthcare, transportation, and agriculture leverage IoT devices to collect real-time data on production processes, patient health, vehicle performance, and environmental conditions. Data collection market players offer solutions to collect, store, and analyze this IoT-generated data.
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Data Labeling Market Growth & Trends
The global data labeling market size was valued at USD 0.81 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 26.5% from 2023 to 2030. Data labeling involves annotating, categorizing, and tagging data to make it understandable and usable for machine learning algorithms. Data labeling is a critical step in training AI and machine learning models as it provides labeled examples that algorithms use to learn and make accurate predictions or classifications.
The data labeling market includes various techniques, platforms, and service providers specializing in labeling different data types, such as images, videos, text, audio, and more. Different industries have specific labeling requirements based on their unique use cases. For instance, autonomous driving vehicle companies need labeled data to train self-driving cars, while healthcare organizations require annotated medical images for diagnostics. The data labeling market offers specialized services that cater to these industry-specific needs.
Competitive Landscape
Key players operating in the Data Collection and Labeling industry are:
- Reality AI
- Globalme Localization Inc.
- Global Technology Solutions
- Alegion
- Labelbox, Inc
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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