In order to increase the online visibility of important COVID-19 information, Federal Chief Information officers in the U.S. are being directed to incorporate a new set of vocabulary for tagging websites. This is evident since, along with the U.S., countries such as Russia, Brazil, France, and India are under the scanner for a second wave of coronavirus. Thus, companies in the image tagging & annotation services market are capitalizing on this opportunity to collaborate with healthcare, government, and other organizations that are actively involved in increasing awareness about COVID-19 preventive measures.
Information about disease spread statistics and projection visualization is becoming important for government organizations to devise strategies for containing the spread of the infection. Companies in the image tagging & annotation services market are targeting information outlets that create enhanced knowledge graphs to handle critical COVID-19 information.
Deep Learning Techniques Help Resolve Issues of Limited Concept Representation
The advent of mobile devices and media cloud services has led to the burgeoning growth of the image tagging & annotation services market. While significant progresses have been made in the past decade, issues such as limited concept representation, owing to handcrafted features revolve around image tagging. Hence, companies in the image tagging & annotation services market should acquire proficiency in deep learning techniques to overcome drawbacks of handcrafted features in image tagging.
Deep learning techniques refer to a class of machine learning (ML) techniques where several layers of information processing stages in hierarchical architectures are classified. On the other hand, AI (Artificial Intelligence)-powered image tagging is gaining strong market grounds for business-critical applications.
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AI and ML Technologies Deploy High-quality Visualization for Image Annotation
The proliferation of AI in annotation services is helping to bolster market growth. As such, the image tagging & annotation services market is predicted to advance at an astonishing CAGR of ~17% during the forecast years. ISHIR— an offshore software development outsourcing company based out of India and Dallas, is increasing its portfolio in AI annotation and data labelling services. With the help of high quality data sets, companies in the image tagging & annotation services market are setting their collaboration wheels in motion to partner with AI and ML clients to advance in the annotation service technology.
Software companies are increasing efforts to supply the best quality text annotation worksheets for ML and AI-backed model developments. This enables high-quality visualization for end users. Companies are increasing their R&D capabilities in 2D bounding boxes, cuboid, and semantic segmentation services.
Image Annotation Holds Promising Potentials in Early Detection of Diseases
Investments in the computer vision technology are increasing each year. Computer vision is among the fastest growing application in artificial intelligence. Thus, companies in the image tagging & annotation services market are capitalizing on this trend to tap value-grab opportunities in healthcare, transportation, and agriculture industries. Image annotation is acquiring prominence in various end markets. High quality data sets are being used to train a machine to recognize target features such as a benign polyp in a medical image.
Healthcare AI patent applications are on the rise, indicating high rates of investment in technology. Hence, companies in the image tagging & annotation services market are gaining strong business holds in the healthcare industry where data is plentiful in the deployment of AI technologies.
Increase in Investments for Image Tagging & Annotation Services
- Applications of AI in healthcare is expanding into many subfields such as treatment predictions, diagnostic automation, gene sequencing, and drug development that will generate demand for healthcare training data sets, which is expected to indirectly generate demand for image tagging & annotation services
- Image annotation services in healthcare is the process of labeling medical imaging data such as ultrasound, MRI, and CT scan for machine learning training. Hence, image tagging & annotation vendors are launching new services to meet expectations of customers. For instance, in November 2019, Cogito Tech LLC launched manual data labeling services for dentistry-based images. Additionally, it also hired experienced medical professionals to precisely label thousands of dental imaging datasets.