Image Tagging and Annotation Services Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Increasing AI applications in healthcare generates demand for healthcare training data for AI applications, growing adoption of smart machines among end-users, is expected to boost the image tagging and annotation services market over the forecast period. Further, increasing digitalization, growing deployment of image tagging & annotation tools to accurately label vast volumes of AI training data also positively impact the growth of the image tagging and annotation services market. Image tagging and annotation tools enable automotive manufacturers to develop smart applications for autonomous vehicles (AVs), connected and autonomous vehicles, driverless cars. Hence, image tagging and annotation service providers focus on developing specified techniques to facilitate the automation of 3D and 2D annotation for image data. This, in turn, increasing demand for the image tagging and annotation services market during the forecast period.

MARKET SCOPE

The "Global Image Tagging and Annotation Services Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the image tagging and annotation services market with detailed market segmentation by type, end user, and geography. The report provides key statistics on the market status of the leading image tagging and annotation services market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

• Based on type, the market is segmented into image classification, object recognition/detection, and boundary recognition.
• Based on end user, the market is segmented into retail and ecommerce, BFSI, government and security, automotive, healthcare, IT and telecom, and others.

MARKET DYNAMICS

Drivers

 

• The growing adoption of image tagging & annotation services by machine learning and artificial intelligence companies are the primary factor boosting the growth of the image tagging and annotation services market.
• Rising adoption AI in annotation services is driving the growth of the image tagging and annotation services market.
• Restraints
• Data privacy and security concerns may hinder the growth of the image tagging and annotation services market.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The image tagging and annotation services market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social, and technological factors affecting the image tagging and annotation services market in these regions.

IMPACT OF COVID-19 ON IMAGE TAGGING AND ANNOTATION SERVICES MARKET

COVID-19 first began in Wuhan (China) in December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in the global market. Few companies have already announced possible delays in product deliveries and slumps in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the image tagging and annotation services market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of the business and customer base of market players. The market players from the image tagging and annotation services market are anticipated to have lucrative growth opportunities in the future with the rising demand in the global market. 
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the image tagging and annotation services market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

• ADEC Innovations
• Anolytics
• BUNCH
• CapeStart Inc.
• clickworker GmbH
• Cogito Tech LLC
• KILI TECHNOLOGY
• Lionbridge Technologies, LLC.
• Qualitas Global Services B.V.
• Webtunix AI.

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.

Image Tagging and Annotation Services Report Scope