Back to Newsroom
Back to Newsroom

Data Collection and Labelling Market to Record Astounding 17% Growth, through 2030, Players Shift to Virtual Solutions to Mitigate COVID-19 Impact

Monday, 01 June 2020 09:30 AM

FactMR

Role of data collection and labelling in medical imaging will sustain market growth through the course of pandemic.

ROCKVILLE, MD / ACCESSWIRE / June 1, 2020 / Penetration of Internet of Things (IoT) and Artificial Intelligence (AI) in data collection and labelling services are augmenting the revenue pool key market leaders in the data collection and labelling market. Variegated applications such as visual analytics, visual listening, and social media monitoring will augur well for market. According to Fact.MR's intuitive market intelligence, the global data collection and labelling market is on a stellar growth course at approximately 17% CAGR during the forecast period (2020-2030). In addition, many business organizations are outsourcing data collection and labelling services thereby boosting the market growth.

"Large enterprises must accelerate R&D to garner newer revenue streams in the immediate future," finds Fact.MR.

Request PDF Sample of the 170-page report on the Data Collection and Labelling Market-

https://www.factmr.com/connectus/sample?flag=S&rep_id=4726

Key Takeaways of Data Collection and Labelling Market Study

  • Healthcare industry will remain the leading vertical of data collection and labelling market through 2030 owing to several applications such as training of data sets, and treatment prediction.
  • Retail segment will register significant growth rate in data collection and labelling market in view of its high adoption.
  • South Asia & Oceania market will record double-digit CAGR owing to flourishing data-driven services.
  • North America data collection and labelling market will capture a sizeable chunk accounting for 32% share in the overall market stack.

FactMR, Monday, June 1, 2020, Press release picture

Data Collection and Labelling Market - Key Growth Drivers

  • Proliferation of data processing technologies, mobile devices, and cloud media services is favoring the growth of data collection and labelling market.
  • Rising preference for automation tools along with digital transformation will shape the global data collection and labelling market over the forecast period.
  • Role of data collection and labelling in speech recognition and voice assistance will bode well for market over the forecast period.
  • Popularity of smart home speakers will fuel the adoption of data collection and labelling through 2030.

Data Collection and Labelling Market - Key Impediments

  • Inaccuracies and subsequent loss of effort and cost continue to pose a threat for data collection and labelling market leaders.
  • Large enterprises still depend on on-premise teams. Thus demand for data collection and labelling will diminish during the pandemic.

Explore 66 tables and 180 figures of the study. Request ToC of the report at-

https://www.factmr.com/report/4726/data-collection-and-labelling-market

Impact of COVID-19 on Data Collection and Labelling Market

The effect of COVID-19 on data collection and labelling market has been moderate in the first quarter of 2020. During the first two months, most companies had to cease their data collection services to mitigate the impact of COVID-19 outbreak. The time allowed market leaders to rethink their strategies in order to continue their operations as the pandemic spread worldwide. The foremost concern of companies is to ensure safety of surrounding communities and field teams through good hygiene and social distancing measures.

With COVID-19 well into the second quarter, players have modified their strategies to prepare for the new normal. Whether it's brainstorming solutions or relaying information, virtual teams have been deployed instead of carrying on in-person meetings. However, unpredictable network connectivity remains the major constraint for companies in data collection and labelling market.

Competition Landscape of Data Collection and Labelling Market

Prominent leaders that shape the competition of data collection and labelling market are featured in this Fact.MR report. Some of them include, but are not limited to, Playment Inc., Trilldata Technologies Pvt Ltd, Scale AI, Inc., Dobility, Inc., Labelbox, Inc. Alegion, Global Technology Solutions, Globalme Localization Inc., Reality AI, Appen Limited, and Annotate.com. Industry-wide collaborations, acquisitions, and mergers are few multi-pronged strategies undertaken by market leaders. For instance, Walmart Inc. acquired Trilldata Technologies Pvt. Ltd. in 2019 to leverage their retail services. Moreover, established players are integrating technologies such as machine learning into their businesses to improve their profitability.

About the Report

This 170-page study offers in-depth commentary on the data collection and labelling market. The study provides compelling insights on the data collection and labelling market on the basis of data type (text, image/video, and audio) and vertical (IT, automotive, government, healthcare, BFSI, and retail & ecommerce) across six key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).

Explore Fact.MR's Comprehensive Coverage on ICT Landscape

Data as a Service (DaaS) Market - Fact.MR's latest study on the global data as a service (DaaS) market covers latest technological innovations, emerging trends, segmental analysis, and key strategies for predefined projection period (2018-2028).

Contract Lifecycle Management Market - Obtain Fact.MR's deep-dive analysis on the global contract lifecycle management market covering year-on-year growth statistics, key macroeconomic indicators, and end-use industries for the course of forecast period (2020-2030).

Cognitive Assessment and Training Market - Find out about competitive landscape, key regions, applications, major opportunities, and challenges of the global cognitive assessment and training market through Fact.MR's report during 2020-2030.

About Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the veteran research team at Fact.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over thousand reports and 1 million+ data points, the team has scrutinized the Healthcare sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR's latest technology market reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.

Contact:

Fact.MR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: [email protected]
Web: https://www.factmr.com/
PR- https://www.factmr.com/media-release/1477/global-data-collection-and-labelling-market

SOURCE: Fact.MR

Topic:
Product Announcements
Back to newsroom
Back to Newsroom

Contact Us Today


If you have questions or want to learn more about our products, our team’s here to help!

Share by: