The global data annotation and labeling market is expected to see exponential growth in the next few years, reaching $5.27 billion in 2028 at a CAGR of 32.6%. This growth can be attributed to the increasing use of AI and ML, emergence of IoT, and cloud-based solutions. Major trends include product innovations, technological advancements, and strategic partnerships. Top companies in the market include Google LLC, Amazon Web Services Inc., IBM, Oracle Corporation, and Adobe Inc. The growing use of AI and ML is a major driver for the market, as these technologies rely on annotated data for effective performance. Other drivers include the need for high-quality training data, increasing demand for autonomous vehicles, and the rise of edge computing. The categories best suited for this article are Machine Learning and Big Data.
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