Int'l : +1-503-894-6022 | Toll Free : +1-800-792-5285 | help@alliedmarketresearch.com
A07815 | Pages: 353 | Charts: 59 | Tables: 109 |
The global AI training dataset market was valued at USD 1.4 billion in 2021, and is projected to reach USD 9.3 billion by 2031, growing at a CAGR of 21.6% from 2022 to 2031.
Furthermore, factors such as machine learning and Intelligence are expanding quickly, and the production of large amounts of data and technological advancements primarily drive the growth of the AI training dataset market growth. However, poor expertise of technology in developing areas hampers market growth to some extent. Moreover, widening functionality of training data sets in multiple business verticals is expected to provide lucrative opportunities for the market growth during the forecast period.
In a number of industrial uses, including manufacturing, IT, BFSI, retail & e-commerce, and healthcare, AI is indeed extremely relevant. Opportunities for new candidates are also emerging due to the rising demand for application-specific training data. Big data is increasingly dependent on artificial intelligence (AI), as the technology enables the extraction of highly complicated abstractions through a hierarchical learning process, necessitating the mining and extraction of meaningful patterns from vast amounts of data.
Furthermore, AI gives machines the ability to execute human-like tasks, learn from experience, and adapt to new inputs. These machines are taught to analyze vast amounts of data and find patterns in order to carry out a specific job. Specific datasets are needed to teach these machines. To meet this need, there is a rising demand for AI training databases.
The AI training dataset market is segmented on the basis of type, industry vertical and region. On the basis of type, it is segregated into Text, Audio, and Image/Video. On the basis industry vertical, it is classified into IT and telecom, BFSI, automotive, healthcare, government and defense, retail, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global AI training dataset industry is dominated by key players such as Google LLC, Amazon Web Services Inc., Microsoft Corporation, SCALE AI, INC., APPEN LIMITED, Cogito Tech LLC, Lionbridge Technologies, Inc., Alegion, Deep Vision Data, and Samasource Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in AI training dataset industry.
[TYPEGRAPH]
Depending on the type, the text segment dominated the AI training dataset market share in 2021 and is expected to continue this dominance during the forecast period, owing to train AI text generators so they can learn the structure and style of writing. It may be used to automatically compose articles, blog posts, product descriptions, and other sorts of content after they have mastered the ability to produce writing that sounds human.
However, the image/video segment is expected to witness the highest growth in the upcoming years, owing to creates its own parameters for how to represent or model those patterns in order to forecast fresh data (such to identify objects in a video) or create entirely new content that closely resembles the training data (such as synthesize images from a collection of paintings).
[REGIONGRAPH]
Region wise, the AI training dataset market size was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to industries moving towards automation, there is a higher demand for AI and machine learning tools. The demand for analytical solutions to acquire the best visualization and strategy developments is being driven by the rapid digitalization of company.
However, Asia-Pacific is expected to witness the highest growth in the upcoming years, owing to the widespread release of new datasets to speed up the usage of artificial intelligence technology in developing sectors. Emerging technologies are being quickly embraced by businesses in developing nations like India in order to modernize their operations. Other important players are also focusing their efforts in the area.
Since big data requires the recording, storing, and analysis of a sizable quantity of data, its emergence is expected to fuel the growth of the artificial intelligence market. End users are more concerned with the necessity of maintaining and improving the big data-related analytical models. They are adopting artificial intelligence solutions more rapidly as a result of this focus. The adoption of artificial intelligence is anticipated to significantly increase demand for AI trained data because annotated data stimulates training AI models and machine learning systems in crucial areas like speech recognition and image identification. By clearly providing the data needed for decision-making and future prediction, data annotation strengthens AI. Many public and private organizations gather domain-specific data, including data from numerous applications like national espionage, fraud detection, marketing, medical informatics, and cyber security. Data annotation makes it possible to label such unstructured and unsupervised data by constantly increasing the accuracy of each individual piece of information.
Big data is used by businesses to enhance operations, deliver better customer service, develop individualized marketing campaigns, and carry out other tasks that can eventually boost sales and profits. Because they can act more quickly and with greater knowledge, businesses that use it successfully may have a competitive advantage over those that don't. Moreover, big data, for instance, offers insightful information about consumers that businesses can use to improve their marketing, advertising, and promotions and boost customer engagement and conversion rates. Furthermore, businesses can become more responsive to customer desires and requirements by analyzing historical and real-time data to evaluate the changing preferences of consumers or corporate buyers. Therefore, the demand for AI training datasets has grown as a result of the enormous volume of data generated by numerous technologies such as machine learning, big data, and artificial intelligence. These technologies generate a significant amount of unstructured and irrelevant data; as a result, it is crucial to feed a machine learning model accurate and pertinent data when training it.
Government agencies are becoming truly data-driven by enhancing AI training dataset services to transform their data, which may contain inconsistencies or errors from manual inputs, into accurate and complete data that can be trusted. Government agencies in the market introduced various initiatives to adapt AI training dataset by enhancing their productivity. For instance, in June 2021, The Union government made AI datasets available for the larger research community. Open government data (OGD) is one of their foremost efforts to make data from ministries and government organizations readily available. Such factors lead to the AI training dataset market growth.
Key Market Segments
Key Market Players