Data Labeling Solution and Services Market

By the end of 2030, the global data labeling solution and services market size is likely to be reaching a value of US$50 Bn. The report indicates a solid 22% CAGR for the market during the forecast period.

Labelbox Inc, Lotus Quality Assurance, AIegion Inc., Amazon Mechanical Turk Inc., Appen Limited, Cogito Tech LLC, CloudFactory Limited, Explosion AI GmbH, Scale AI, and Yandez LLC represent some of the leading names in the data labeling solution and services industry.

North America, the largest regional market, gains significantly from the collective impact of the region’s technological leadership, leading industries, highly skilled large workforce, and the favourable regulatory environment across the region.

Some of the major challenges to the growth of this market include the significant lack of professional competency, workforce management issues, and lack of accuracy of data annotation.

The thriving outsourcing trend for data labelling will remain the strongest factor driving IT industry’s dominance when it comes to generating demand for data baleing solution and services space. Moreover, with the rise of several tech start-ups, and a growing number of SMEs, the demand within IT sector will be incessant.