AI Training Data Market Trends and Forecast
The future of the global AI training data market looks promising with opportunities in the IT, automotive, government, healthcare, BFSI, and retail & E-commerce markets. The global AI training data market is expected to grow with a CAGR of 24.3% from 2024 to 2030. The major drivers for this market are rising adoption of artificial intelligence and machine learning technologies for high-quality training, expanding demand for high-quality pre-trained models, and growing use of autonomous systems, such as self-driving cars and drones.
• Lucintel forecasts that text is expected to witness the highest growth over the forecast period.
• Within this market, IT is expected to witness the higher growth.
• North America is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the AI Training Data Market
• United States: In the U.S., companies like Appen and Amazon MTurk continue to dominate the AI Training Data market. Appen focuses on expanding its data annotation capabilities for AI and machine learning applications, ensuring high-quality training datasets. Amazon MTurk, with its crowdsourcing platform, supports companies in acquiring labeled data at scale for AI model training. These initiatives align with the U.S. governmentÄX%$%Xs National AI Research Institutes initiative, which aims to advance AI technologies through public-private partnerships.
• India: In India, startups such as Playment and Playment focus on providing AI training data services. Playment specializes in data annotation and labeling for computer vision and autonomous systems, catering to global tech firms. The Indian governmentÄX%$%Xs Digital India program supports AI development, fostering initiatives to enhance AI infrastructure and skill development. Companies aim to leverage IndiaÄX%$%Xs vast talent pool and growing tech ecosystem for AI training data solutions
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
AI Training Data Market by Segment
The study includes a forecast for the global AI training data market by type, application, and region.
AI Training Data Market by Type [Value from 2018 to 2030]:
• Text
• Image/Video
• Audio
AI Training Data Market by Application [Value from 2018 to 2030]:
• IT
• Automotive
• Government
• Healthcare
• BFSI
• Retail & E-Commerce
• Others
AI Training Data Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of AI Training Data Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AI training data companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AI training data companies profiled in this report include-
• LLC (Kaggle)
• Appen
• Cogito Tech
• Lionbridge Technologies
• Google
• Amazon Web Services
• Deep Vision Data
Recent Development in the AI Training Data Market
• Appen: Appen specializes in providing high-quality training data and annotation services for AI and machine learning models. Their initiatives include developing robust data labeling platforms and tools that ensure accuracy and scalability for various AI applications, such as natural language processing and computer vision.
• Amazon Mechanical Turk (MTurk) : Amazon MTurk offers a crowdsourcing platform for generating training data through human intelligence tasks (HITs). Companies utilize MTurk to access a global workforce for tasks like image labeling, text annotation, and sentiment analysis, providing scalable solutions for AI model training.
• Labelbox: Labelbox provides a data labeling platform powered by AI to streamline and automate the process of creating high-quality training datasets. Their initiatives focus on integrating advanced AI algorithms to improve labeling accuracy, reduce annotation time, and enhance data quality for machine learning models.
• Scale AI: Scale AI specializes in providing training data for autonomous vehicles and robotics. Their initiatives include developing specialized datasets for object detection, semantic segmentation, and 3D mapping to train AI algorithms effectively. Scale AI collaborates with leading automotive companies and tech giants to accelerate the development of autonomous technologies
Features of the Global AI Training Data Market
Market Size Estimates: AI training data market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: AI training data market size by type, application, and region in terms of value ($B).
Regional Analysis: AI training data market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the AI training data market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AI training data market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for AI training data market?
Answer: The global AI training data market is expected to grow with a CAGR of 24.3% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the AI training data market?
Answer: The major drivers for this market are rising adoption of artificial intelligence and machine learning technologies for high-quality training, expanding demand for high-quality pre-trained models, and growing use of autonomous systems, such as self-driving cars and drones.
Q3. What are the major segments for AI training data market?
Answer: The future of the AI training data market looks promising with opportunities in the IT, automotive, government, healthcare, BFSI, and retail & E-commerce markets.
Q4. Who are the key AI training data market companies?
Answer: Some of the key AI training data companies are as follows:
• LLC (Kaggle)
• Appen
• Cogito Tech
• Lionbridge Technologies
• Google
• Amazon Web Services
• Deep Vision Data
Q5. Which AI training data market segment will be the largest in future?
Answer: Lucintel forecasts that text is expected to witness the highest growth over the forecast period.
Q6. In AI training data market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the AI training data market by type (text, image/video, and audio), application (IT, automotive, government, healthcare, BFSI, retail & E-commerce, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to AI Training Data Market Market, AI Training Data Market Market Size, AI Training Data Market Market Growth, AI Training Data Market Market Analysis, AI Training Data Market Market Report, AI Training Data Market Market Share, AI Training Data Market Market Trends, AI Training Data Market Market Forecast, AI Training Data Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.