Meticulous Research®—a leading global market research company, published a report titled, ‘AI Training Dataset Market, by Type (Text, Audio, Image & Video), End-use Industry, and Geography - Global Forecast to 2029.’
According to the latest publication from Meticulous Research®, the AI Training Datasets Market is slated to register a CAGR of 24.7% during the forecast period 2022–2029 to reach $9.35 billion. The growth of this market is attributed to the rapid growth of AI and machine learning and growing applications of training datasets across diversified industry verticals. However, the lack of technological adoption in developing regions is expected to restrain the growth of this market. In addition, the need for human-machine interaction is expected to create significant growth opportunities for the players in this market. The high installation cost of AI technologies poses challenges to the growth of this market.
The global AI training dataset market is segmented by type, end-use industry, and geography.
Based on type, the global AI datasets market is segmented into text, audio, and image & video. In 2022, the text segment is expected to account for the largest share of the global AI datasets market. The large market share of this segment is attributed to the high use of text datasets in the IT and other sectors for various automation processes such as speech recognition, text classification, caption generation, and others.
Based on end-use industry, the global AI datasets market is segmented into automotive, transport & logistics, information technology, healthcare, banking, financial services and insurance (BFSI), retail & e-commerce, and other end-use industries. In 2022, the information technology segment is expected to account for the largest share of the global AI datasets market. The large market share of this segment is attributed to the superior-quality datasets that assist IT companies in improving several solutions like data analytics, computer vision, virtual assistants, crowdsourcing, and many others.
Based on geography, the Asia-Pacific (APAC) region is expected to account for the largest share of the global AI datasets market in 2022. Organizations in developing nations are significantly boosting the adoption rate of innovative technologies to modernize their enterprises. Additionally, several significant players are concentrating on growing their impact in Asia-Pacific. These factors will lead to the high deployment of AI datasets in the APAC region.
The key players operating in the AI datasets market are Appen Limited (Australia), Google LLC (U.S.), Cogito Tech LLC (U.S.), Lionbridge Technologies, Inc. (U.S.), Microsoft Corporation (U.S.), Amazon Web Services, Inc. (U.S.), Scale AI, Inc. (U.S.), Alegion plc (Ireland), Kinetic Vision, Inc. (U.S.) Samasource Impact Sourcing, Inc. (U.S.), and Superb AI, Inc. (U.S.).
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