The Data Annotation Market was valued at $1,355.12 million in 2020 and is projected to reach $13,696.23 million by 2030, registering a CAGR of 26.3% from 2021 to 2030. Data annotation tools are software-based solutions created to understand production-grade machine learning training tools and work with a variety of data, such as video, picture, text, spreadsheet, and sensor data. The development of data annotation tools is being fueled by the fact that enterprises all over the world design their own data annotation tools, as well as the rise in the use of AI and ML technologies in the IT and healthcare sectors.
