The global Data Annotation and Labeling Market is projected to grow significantly in the coming years due to the rising efficiency of AI-assisted automated data annotation and the growing demand for annotated datasets to train AI and ML algorithms. The market is driven by the increasing need to improve machine learning models and the rising popularity of labeled data in various industries such as autonomous mobility and medical imaging. However, high costs associated with manual data annotation and concerns regarding data security and compliance may hinder market growth. Opportunities for growth include the rising efficiency of AI-assisted automated data annotation and the increasing adoption of computer vision technologies in novel applications. Companies such as Google, Appen, and IBM are among the top players in the market.
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