Newark, July 11, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.62 Billion in 2022 AI training dataset market will reach USD 13.75 Billion by 2032. Among the sectors where AI is gaining importance are manufacturing, IT, BFSI, retail & e-commerce, and healthcare. The increased demand for application-specific training data has created more significant opportunities for newcomers. Big data increasingly depends on artificial intelligence (AI) as the technology makes it possible to extract more complex representations through a hierarchical learning process, demanding the mining and extraction of significant patterns from enormous amounts of data.
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Key Insight of the AI Training Dataset Market
Asia-Pacific is anticipated to expand at the highest CAGR of 25.77% over the projection period.
Asia-Pacific is expected to grow at the highest CAGR of 25.77% over the forecast period. As Indian commercial organizations develop strategies to modernize their operations, the adoption rate of innovative technology is steadily increasing. Several influential players are also concentrating on growing their footprint in the Asia Pacific region. For instance, Microsoft introduced the interior Location Dataset in July 2020 to gather various data from structures in Chinese cities, including the geomagnetic field and the interior wi-fi signature. These datasets are intended to assist in studying and advancing localization, navigation, and interior environments. Microsoft is not the only major player growing here; many others also exist. These factors are predicted to increase dataset usage in the area, resulting in a significant growth rate during the forecast period.
Over the projected period, the image/video segment is expected to register the highest CAGR of 26.81% in the AI training dataset market.
In the AI training dataset market, the image/video segment is anticipated to experience the highest CAGR of 26.81% during the forecasted period. Important players focus more on releasing new datasets with more applications. For example, Google LLC, a global technology corporation, announced the release of a new AI training dataset called Google-Landmarks-v2 in May 2020. This dataset includes millions of photos and thousands of landmarks. The organization also released two Kaggle challenges: landmark retrieval 2020 and landmark recognition 2020. These datasets were released to improve and strengthen systems, for instance, recognition and picture retrieval.
Over the projected period, the healthcare segment is expected to register the highest CAGR of 26.41% in the AI training dataset market.
Over the forecasted period, the healthcare segment is anticipated to grow at the highest CAGR of 26.41% in the AI training dataset market. AI in healthcare offers a range of therapeutic potential, including virtual assistants, wearable technology, diagnostics, and lifestyle and wellness management. A voice-activated symptom checker and an improved organizational process are additional applications of AI. To produce correct findings, each of these applications needs a sizable dataset. As a result, the utilization of datasets will increase, resulting in a significant CAGR during the predicted period.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 23.85% |
| 2032 Value Projection | USD 13.75 Billion |
| Base Year | 2021 |
| AI Training Dataset Market Size in 2022 | USD 1.62 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 238 |
| Segments covered | Type, Vertical |
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Market Dynamics
Driver: Machine learning and AI are expanding quickly
The introduction of big data, which comprises the recording, storing, and processing of a significant amount of data, is predicted to encourage the expansion of the artificial intelligence market. A substantial rise in training dataset demand is projected as the application of artificial intelligence expands. This is because annotated data promotes the development of machine learning and artificial intelligence (AI) models in crucial domains like speech recognition and image identification. A wide range of applications, ranging from national intelligence, fraud detection, marketing, medical informatics, and cybersecurity, are used by many public and private organizations to collect domain-specific data. Unstructured and unsupervised data can be identified because datasets steadily improve the accuracy of each piece of knowledge.
Opportunity: Expanding uses of training datasets in several industry verticals
A rise in applications, websites, social networks, and other digital channels has enabled the collection and sharing of enormous amounts of visual and digital data. Many businesses have embraced this data-annotated, freely available web content to provide their customers with cutting-edge, superior products. One of the essential sources for clinical research is the unstructured text data accumulated from individuals using electronic health record (EHR) systems more frequently. There is a lot of potential for market expansion throughout the projection period due to growing applications across several industries.
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Some of the major players operating in the AI training dataset market are:
• Appen Limited
• Lionbridge Technologies, Inc.
• Microsoft Corporation
• Samasource Inc.
• Deep Vision Data
• Google, LLC (Kaggle)
• Amazon Web Services, Inc.
• Alegion
• Cogito Tech LLC
• Scale AI Inc.
Key Segments cover in the market:
By Type:
• Image/Video
• Text
• Audio
By Vertical:
• Automotive
• Healthcare
• Retail & E-commerce
• IT
• BFSI
• Government
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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