Market Research Report
Data Collection & Labeling
|Data Collection & Labeling|
Published: April 1, 2021
Global Industry Analysts, Inc.
Content info: 284 Pages
Delivery time: 1-2 business days
Global Data Collection & Labeling Market to Reach $3.7 Billion by 2027
Amid the COVID-19 crisis, the global market for Data Collection & Labeling estimated at US$977 Million in the year 2020, is projected to reach a revised size of US$3.7 Billion by 2027, growing at a CAGR of 20.8% over the analysis period 2020-2027. Text, one of the segments analyzed in the report, is projected to record a 19.2% CAGR and reach US$1.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Image / Video segment is readjusted to a revised 22.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $263.4 Million, While China is Forecast to Grow at 25.9% CAGR
The Data Collection & Labeling market in the U.S. is estimated at US$263.4 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$854.3 Million by the year 2027 trailing a CAGR of 25.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 16.5% and 19% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 17.8% CAGR.
Audio Segment to Record 20.8% CAGR
In the global Audio segment, USA, Canada, Japan, China and Europe will drive the 20.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$197.5 Million in the year 2020 will reach a projected size of US$711.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$544.7 Million by the year 2027, while Latin America will expand at a 22.2% CAGR through the analysis period.
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