Global Automated Data Annotation Tool Market: Introduction
Automated data annotation is an automated process of labeling data to make it usable for machine learning and the data includes images (from cars, phones, or medical instruments), text (in English, Spanish, Chinese, or any other language), audio, video, 3D models from MRIs and CAT scans, tabular data, time series data and LIDAR data, RADAR data, or data from other sensors.
Global Automated Data Annotation Tool Market – Dynamics
Access to Specialized Resources and Skills
One of the major driving factors of an automated data annotation tool is it empowers the company to gain specialized expertise in machine learning. Machine learning based trained AI models or automated applications provide a totally different and seamless experience for end-users. For instance, in virtual assistance, speech recognition technology is used with the help of natural language process to understand the human language and communication.
Unawareness among SMEs
Regions such as South America and Asia Pacific face strong technological and digital gaps which leads to unawareness among business enterprises. The level of awareness among SMEs or micro businesses to smoothly run automated data annotation tools at a remote location is not very effective. Ignorance about automated data annotation tools and low skilled personnel with regards to machine learning within SMEs in these regions is hampering the growth of the market.
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North America to Dominate the Global Automated Data Annotation Tool Market
In terms of region, the global automated data annotation tool market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the automated data annotation tool market during the forecast period due to its strong growth in machine learning and its applicability in many devices.
COVID-19 Impact on the Global Automated Data Annotation Tool Market
The COVID-19 pandemic is expected to moderately impact the global automated data annotation tool market for a short-term period. Lockdown and slow growth during this period has reduced the amount of expenditure and investment in this technology.
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Global Automated Data Annotation Tool Market – Competition Landscape
- In January 2020, IBM Corporation launched an annotation tool which taps AI to label images. The launch will help to develop easy and collaborative open source image annotation tools for teams and individuals.
IBM Corporation
Incorporated in 1911, IBM manufactures and sells computer hardware and software and offers infrastructure services, hosting services, and consulting services in areas ranging from mainframe computers to nanotechnology. The company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems, and Global Financing.
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