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AI Training Dataset Market Size, Share, 2020-2027 | Industry Report

AI Training Dataset Market Analysis Report By Type, By Vertical, By Region And Segment Forecasts From 2020 To 2027

Report ID: MN17620156  |  Published: October 2020  |  No of Pages: 100
Format: Electronic (PDF)  |  Industry: Computing & Technology  |  Publisher: Grand View Research

Industry Insights

The global AI training dataset market size was worth USD 956.5 million in 2019. It is projected to register 22.5% CAGR over the forecast years, 2020 to 2027. Increasing penetration of artificial intelligence in different data-driven applications like voice recognition and image recognition is driving the market growth. In addition, increasing need for human and machine interaction is estimated to provide new growth opportunity for market players.

Europe AI training dataset market

With the help of AI, machines learn from experiences, adjust to new programs and perform tasks like a human. These machines are capable of processing a huge amount of data and determine the pattern in order to accomplish any particular tasks. To train these machines, certain datasets are needed. Thus, increasing demand for datasets is driving the growth of the market.

These machines’ functions entirely depend on the dataset given to them. Therefore, to train AI, high-quality datasets are required. Quality data sets help in enhancing the AI performance and accuracy. Vendors are increasingly focusing on collaborating with companies that can help them with quality data. For example, Appen Limited acquired Figure Eight Inc. in 2019 as the latter company provides high-quality data generated with the help of automated tools.

Type Insights

Depending on the type, the artificial intelligence training dataset market is categorized into text, audio and image/video. In 2019, the text segment accounted for the highest share in the market. Increasing use of text datasets in the information technology sector for several automation processes such as text classification, caption generation and speech recognition. On the other hand, the audio segment is projected to register the moderate share owing to the availability of extensive rage of audio datasets such as speech datasets, Multimodal EmotionLines Dataset, environmental audio datasets and music datasets among others.

The image/video type category is likely to register the highest growth over the forecast duration owing to increasing focus by key players to introduce new training sets having various applications. For example, Google LLC in 2019 introduced Google-Landmarks-v2. This AI-based dataset was launched for instance recognition and image retrieval.

Vertical Insights

By vertical, the AI training datasets market has been classified into healthcare, retail, e-commerce, automotive, IT, government and others. In the healthcare sector, AI offers several opportunities in therapy areas like lifestyle & wellness management, wearable, virtual assistance and diagnostics. In addition, AI is used in improving organizational workflow and voice-enabled symptom checkers. These abovementioned applications require a training set to ensure an accurate result.

Global AI training dataset market

IT sector held the largest share in the market in 2019. Several companies in the market are making use of machine learning to develop advanced products and enhance user-experience. Machine learning requires advanced datasets for its effective operations. In addition, quality data sets help IT companies with various other solutions such as data analytics, virtual assistance, crowdsourcing, and computer vision. Thus, these factors are anticipated to drive the use of data sets in the IT sector over the next few years.

Regional Insights

Vendors in North America are focusing on introducing new training sets to strengthen AI adoption in the region. For example, Waymo LLC, in 2019, released a new dataset for self-driving vehicles. This dataset includes the data from LiDAR and camera sensors under different driving conditions like pedestrian, signage and cyclists.

Emerging countries such as China and India are increasingly witnessing the adoption of innovative technologies to transform their businesses. In addition, vendors are focusing on expanding their business operations in the Asia Pacific. Europe, on the other hand, is anticipated to witness moderate growth over the forecast years.

COVID-19 Impact Analysis

COVID-19 outbreak is projected to positively affect the AI training dataset market. The pandemic has compelled businesses to adopt advanced analytics, and other AI-based technologies to ensure smooth operations of their businesses. COVID-19 has caused uncertainty about how the businesses will function. This has led to increasing dependencies of businesses on innovative technologies, which, in turn, is projected to drive the market growth over the forecast duration. Various industries such as e-commerce, healthcare, automotive and IT are anticipated to witness increased adoption of AI training dataset to automate their businesses.

AI Training Dataset Market Share Insights

Market players are increasingly focusing on Recent Developments such as collaboration, merger & acquisition and partnerships to consolidate their position in the market. In addition, companies are emphasizing on the introduction of new training sets. For example, a datasets provider Vectorspace AI collaborated with Elasticsearch B.V, where the former company will provide AI training datasets to users with the help of the latter. Key players operating in the market are Scale AI, Inc., Cogito Tech LLC, Amazon Web Services, Inc., Alegion, Google, LLC and Samasource Inc. among others.

Report Scope

Report Attribute

Details

Market size value in 2020

USD 1,155.5 million

Revenue forecast in 2027

USD 4,775.1 million

Growth Rate

CAGR of 22.5% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million/billion and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, vertical, and region

Regional scope

North America; Europe; Asia Pacific; South America; and MEA

Country scope

The U.S.; Canada; Mexico; The U.K.; Germany; France; China; Japan; India; Brazil

Key companies profiled

Google, LLC (Kaggle); Appen Limited; Cogito Tech LLC; Lionbridge Technologies, Inc.; Amazon Web Services, Inc.; Microsoft Corporation; Scale AI; Inc.; Samasource Inc.; Alegion; and Deep Vision Data

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis on latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insights has segmented the global AI training dataset market report based on type, vertical, and region:

• Type Outlook (Revenue, USD Million, 2016 - 2027)
    • Text
    • Image/Video
    • Audio

• Vertical Outlook (Revenue, USD Million, 2016 - 2027)
    • IT
    • Automotive
    • Government
    • Healthcare
    • BFSI
    • Retail & E-commerce
    • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
        • The U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • The U.K.
        • France
    • Asia Pacific
        • China
        • Japan
        • India
    • South America
        • Brazil
    • Middle East and Africa

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