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The rising popularity of self-driving cars is likely to spur innovation in data collecting and labelling production, propelling the market throughout the forecast period.

The global data collection and labeling market is expected to grow from $2.26 billion in 2022 to $2.86 billion in 2023 at a compound annual growth rate (CAGR) of 26.5%. The global data collection and labeling market size is expected to reach $7.27 billion in 2027 at a CAGR of 26.2%.

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Global Data Collection And Labeling Market Segments Include:

• By Data Type: Text, Image Or Video, Audio
• By Application: Dataset Management, Security And Compliance, Data Quality Control, Workforce Management, Content Management, Catalogue Management, Sentiment Analysis, Other Applications
• By Vertical: Information Technology (IT), Automotive, Government, Healthcare, Banking, Financial Services and Insurance (BFSI), Retail And E-commerce, Other Verticals
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global data collection and labeling market in 2021.

Major Market Players in the data collection and labeling market include Reality AI, Globalme Localization Inc., Global Technology Solutions, Alegion Inc., Labelbox Inc, Dobility Inc., Scale AI, Inc., Trilldata Technologies Pvt Ltd, Appen Limited.

Technological developments are a prevalent trend in the data collecting and labelling sector. Companies in the data gathering and labelling market are implementing new technologies, such as real-time data monitoring, to maintain their market position. Sumake North America, a US-based manufacturer of professional, high-quality industrial tools, for example, debuted the EA-SC100 tool management system for data collecting and tool setup in May 2022. The system incorporates a touch screen for viewing real-time results and a remote administration system for tool setup and data collection. The EA-SC100 reduces costs, increases profits, streamlines the assembly process, and helps organisations maintain quality.

The Data Collection And Labeling Global Market Report 2023  provides a data collection and labeling market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The data collection and labeling market forecast analyzes data collection and labeling market size, data collection and labeling market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The procedures of acquiring and organising relevant data for use in artificial intelligence (AI) and machine learning (ML) models are referred to as data collection and labelling. To produce a comprehensive dataset, data collectors acquire relevant data from a range of sources, such as cameras, voice recorders, questionnaires, and web scraping. The process of assembling acquired data with relevant information or labels to add context to the dataset is known as data labelling.

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