Data Annotation Tools Market Projected To Reach USD 5,331 Million By 2030
San Francisco, 10 Jan 2024: The Report Data Annotation Tools Market Size, Share & Trends Analysis Report By Type (Text, Image/Video, Audio), By Annotation Type, By Vertical, By Region, And Segment Forecasts, 2023 - 2030 The global data annotation tools market size is expected to reach USD 5,331 million by 2030, exhibiting a CAGR of 26.5%, according to a new report by Grand View Research, Inc. The advent of big data is expected to drive the growth of the artificial intelligence market as a large volume of data is required to be recorded, stored, and analyzed. The adoption of artificial intelligence is expected to significantly boost the demand for data annotation tools as the annotated data acts as a catalyzer to train AI models and machine learning systems in critical areas such as speech recognition and image recognition. These tools offer AI its strength by directly providing data that is relevant to determining future outcomes and decision-making. Currently, there is a grow