SAN FRANCISCO, May 26, 2020 /PRNewswire/ -- The global AI training dataset market size is expected to reach USD 4.8 billion by 2027, expanding at a CAGR of 22.5%, according to a new report by Grand View Research, Inc. The artificial intelligence technology is proliferating. As organizations are transitioning towards automation, the demand for technology is rising. The technology has provided unprecedented advances across various industry verticals, including marketing, healthcare, logistics, transportation, and many others. The benefits of integrating the technology across various operations of the organizations have outweighed its costs, thereby driving adoption.
Key suggestions from the report:
- Increasing creation of synthetic training data for unsupervised and supervised training of machine learning algorithm is driving the adoption of datasets by organizations thereby catalyzing market growth
- The image/video segment is expected to portray high growth rate of more than 25.0% over the projected period
- In Asia Pacific, the market is expected to have significant growth over the forecast period, owing to the substantial adoption of AI technology
- The key players in the market areGoogle, 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.
Read 100 page research report with ToC on "AI Training Dataset Market Size, Share & Trends Analysis Report By Type (Text, Image/Video, Audio), By Vertical (IT, Automotive, Government, Healthcare, BFSI), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/ai-training-dataset-market
Due to the rapid adoption of artificial intelligence technology, the need for training sets is rising exponentially. To make the technology more versatile and accurate with its predictions, a wide number of companies are entering the market space by releasing various datasets operating across various use cases to train the machine learning algorithm. Such factors are substantially contributing to market growth.
Factors such as cultivation of new high-quality datasets to speed up the development of AI technology and deliver accurate results are driving the market. For instance, in January 2019, IBM Corporation, a technology company, announced the release of a new dataset that comprises of 1.0 million images of faces. This dataset was released with an aim to help developers to train their face recognition systems supported by artificial intelligence technology with diverse dataset. In addition, it will help developers to increase the accuracy of face identification.
Grand View Research has segmented the global AI training dataset market based on type, vertical, and region:
- AI Training Dataset Type Outlook (Revenue, USD Million, 2016 - 2027)
- Text
- Image/Video
- Audio
- AI Training Dataset Vertical Outlook (Revenue, USD Million, 2016 - 2027)
- IT
- Automotive
- Government
- Healthcare
- BFSI
- Retail & E-commerce
- Others
- AI Training Dataset Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Asia Pacific
- Japan
- China
- India
- South America
- Brazil
- Middle East & Africa
Find more research reports on Next Generation Technologies Industry, by Grand View Research:
- Warehouse Robotics Market– The increasing demand for automation and awareness regarding safety and superior quality production are anticipated to present substantial growth opportunities for the market.
- Virtual Reality Headset Market – Virtual reality has gained prominence over the last few years owing to the technological advancements and launch of inventive devices targeted primarily at the gaming industry
- Smart Stadium Market – Increasing focus on engaging and entertaining the fans at stadiums, coupled with stringent security regulations framed by sports governing bodies are among the key factors driving the market growth.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Follow Us: LinkedIn | Twitter
SOURCE Grand View Research, Inc.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
