Dublin, March 28, 2023 (GLOBE NEWSWIRE) -- The "AI Training Dataset Market Size, Share and Trends Analysis Report, By Type (Text, Image/Video, Audio), By Vertical (IT, Automotive, Government, Healthcare, BFSI), By Regions, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global AI training dataset market size is expected to reach USD 8.61 billion by 2030 and expand at a CAGR of 22.1% from 2023 to 2030.
Artificial intelligence technology is witnessing an upsurge and 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 multiple operations of the organizations have outweighed its costs, thereby driving adoption.
Due to the rapid adoption of artificial intelligence technology, the need for training datasets is rising exponentially. To make the technology more versatile and accurate with its predictions, many companies are entering the market by releasing various datasets operating across different use cases to train the machine learning algorithm. Such factors are substantially contributing to market growth. Prominent market participants such as Google, Microsoft, Apple Inc, and Amazon have been focusing on developing various AI training datasets. For instance, in September 2021, Amazon launched a new dataset of commonsense dialogue to aid research in open-domain conversation.
Factors such as the cultivation of new high-quality datasets to speed up the development of AI technology and deliver accurate results are driving market growth.
For instance, in January 2019, IBM Corporation, a technology company, announced the release of a new dataset that comprises 1 million images of faces. This dataset was released to help developers train their face recognition systems supported by artificial intelligence technology with a diverse dataset. This dataset will allow them to increase the accuracy of face identification. For instance, in May 2021, IBM launched a new data set called CodeNet with 14 million sample sets to develop machine learning models that can help in programming tasks.
AI Training Dataset Market Report Highlights
- Increasing the creation of synthetic training data for unsupervised and supervised training of machine learning algorithms is driving the adoption of datasets by organizations thereby catalyzing the market growth.
- The image/video segment is expected to portray a high growth rate, with a CAGR of approximately 25% over the projected period.
- Asia Pacific regional market is expected to have significant growth over the forecast period, owing to the substantial adoption of AI technology.
Market Dynamics
Market Drivers
- Rapid Growth of AI and Machine Learning
- Growing Applications of Training Datasets Across Diversified Industry Verticals
Market Restraints
- Lack of Technological Adoption in Developing Regions
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 100 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1.73 Billion |
| Forecasted Market Value (USD) by 2030 | $8.61 Billion |
| Compound Annual Growth Rate | 22.1% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 AI Training Dataset Market Variables, Trends & Scope
Chapter 4 AI Training Dataset: Type Estimates and Trend Analysis
4.1 AI Training Dataset Market: Type Movement Analysis, 2022 & 2030
4.1.1 Text
4.1.2 Image/Video
4.1.3 Audio
Chapter 5 AI Training Dataset: Vertical Estimates and Trend Analysis
5.1 AI Training Dataset Market: Vertical Movement Analysis, 2022 & 2030
5.1.1 IT
5.1.2 Automotive
5.1.3 Government
5.1.4 Healthcare
5.1.5 BFSI
5.1.6 Retail & E-commerce
5.1.7 Others
Chapter 6 AI Training Dataset: Regional Estimates & Trend Analysis
Chapter 7 Competitive Landscape
Companies Mentioned
- Google, LLC (Kaggle)
- Appen Limited
- Cogito Tech LLC
- Lionbridge Technologies, Inc.
- Amazon Web Services, Inc.
- Microsoft Corporation
- Scale AI, Inc.
- Samasource Inc.
- Alegion
- Deep Vision Data
For more information about this report visit https://www.researchandmarkets.com/r/dgpxv4
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