A research report published by Global Market Insights, Inc., suggests that will exceed a valuation of $5 billion by 2026.
Global data annotation tools market derives much of its growth from the rising penetration of machine learning and artificial intelligence technologies in various industry verticals. These tools are witnessing extensive adoption in healthcare, telecom, agriculture industries.
Data annotation tools industry size from the agriculture segment isArtificial intelligence has witnessed massive deployment in agricultural applications for semantic segmentation of videos & images using data labeling tools. These tools help farming robots in executing many real-time actions, including herbicide spraying, weed controlling, and automated monitoring of huge acreage farmlands. For example, in 2018, Cropin, an AgTech solutions provider collaborated with ITC Ltd., an Indian multinational conglomerate company, to digitally plan and annotate the imagery of farmlands expanded in around 24,000 acres across four states of India.
Text data labeling has gained significance in creating document classification algorithms and accomplishing sentiment analysis. It has also found wide-ranging applications in scrutinizing objectional materials and potential threat topics in social media handles. The same can be validated by funds provided by Defense Institute of Advanced Technology under the Ministry of Defense, India, to perform research for deployment of text labeling tools to examine social networks and suspect terrorist groups.
Speaking about the regional landscape, Europe data annotat, Inc.
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