AI Training Dataset Market (2022-2029)
The AI Training Dataset Market is expected to reach $9.35 billion, at a CAGR of 24.7% during the forecast period 2022–2029.
- Published
- Nov 2022
- Pages
- 200
- Format
- PDF + Excel
- Report ID
- MRICT - 104716
- Base year
- 2021
- 2029 · FORECAST
- $9.35B
- 2029
- $9.35B
- CAGR 2022–2029
- 24.7%
2021 baseline · 2022–2029 forecast at 24.7% CAGR · hover a bar for the value
Key highlights
Image & Video Segment to Register the Highest CAGR During Forecast Period
Retail & E-commerce Segment to Register the Highest CAGR During Forecast Period
Asia-Pacific to be the Fastest-growing Regional Market
Report summary
| Particulars | Details |
|---|---|
| Base Year | 2021 |
| Estimated Year | 2022 |
| Forecast Period | 2022–2029 |
| Market Size (2029) | USD 9.35 billion |
| CAGR (2022–2029) | 24.7% |
| Format | PDF, Excel & Cloud Portal · 200 pages |
| Segments Covered | By Type: Text, Audio, Image & Video · By End-use Industry: Automotive Driverless Automobiles, AI Cloud Services, AI Automotive Insurance, Driver Monitoring Systems, Others, Product Localization and Identification, Shipment Load Monitoring, Warehouse Automation and Management, Defect Inspection and Quality Control, Data Security, Process Automation, Building Better Information Systems, Treatment of Rare Diseases, Virtual Health Assistants |
| Countries Covered | North America (Canada), Asia-Pacific (China, Japan, South Korea, India, Singapore, Thailand, Australia, Taiwan, Rest of Asia-Pacific), Europe (Germany, U.K., France) |
| Key Companies | Appen Limited, 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, Superb AI, Inc. (U.S.) |
Report overview
Segments covered: type, end-use industry. Regions: North America, Asia-Pacific, Europe.
The fast 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 outbreak of the COVID-19 pandemic negatively impacted several economies and businesses across the globe. Lockdowns imposed to contain the pandemic resulted in severe losses across several industries, including manufacturing, oil & gas, construction, automotive & transportation. At the same time, some industries, such as healthcare, retail & E-commerce, recorded high growth during the COVID-19 pandemic.
In the healthcare industry, AI tools and techniques help policymakers, and the medical community understand the COVID-19 virus and accelerate research on treatments by rapidly analyzing large volumes of research data. AI text and data mining tools can uncover the virus’s history, transmission, diagnostics, management measures, and lessons from previous epidemics. AI tools can help identify virus transmission chains and monitor broader economic impacts. AI technologies have demonstrated their potential to infer epidemiological data more rapidly than traditional health data reporting. Institutions such as Johns Hopkins University, a private research university in Baltimore, Maryland and the OECD (France) (Organization for Economic Co-operation and Development) have also made available interactive dashboards that track the virus’ spread through live news and real-time data on confirmed coronavirus cases, recoveries, and deaths.
The oil & gas, construction, automotive & transportation industries have been severely impacted due to shortages in raw materials & workforce, supply chain disruption, and restrictions on operating capacities. The survey report conducted by the National Association of Manufacturers (NAM) stated that around 78.0% of manufacturers anticipated a financial impact, and 35.5% faced supply chain disruptions due to COVID-19. These factors led manufacturing companies to deprioritize their digital transformation strategies, including the equipment of their production units with AI. Hence, several AI and automation experts have suggested increasing investments in advanced technologies, such as AI, to create remote operating capabilities, such as process automation, industrial robots, predictive maintenance & machinery inspection, and autonomous material movement to decrease worker density. Therefore, the pandemic proved to be a positive and negative turning point for the various industries that used AI for their operating functions and applications.
Report infographic
Market dynamics
1 factors across 1 forceRapid growth of Artificial Intelligence and Machine Learning
Machine learning is a subset of artificial intelligence. It grants AI the ability to learn and make decisions using data. This process happens without any explicit programming in the systems. The emergence of big data is anticipated to fuel the expansion of the AI market since it necessitates the recording, storing, and analyzing of a significant amount of data.
Due to the rapid adoption of AI technology, the need for AI datasets is rising exponentially. Various end-use industries are searching for ways to define procedures to make remote work as favorable & efficient as working from the office and also focused on the need for monitoring systems and enhancing the computational models. According to an industry expert, 52% of companies accelerated their AI adoption plans because of the COVID-19 pandemic crisis, from which around 86% of companies declared that AI is becoming a “mainstream technology” at their company in 2021.
To make the technology more versatile and accurate with its assumptions and predictions, various companies are entering the market by releasing various datasets operating across different use cases to train the machine learning algorithm. Additionally, leading market players are adopting various growth strategies to expand their product offerings and global footprints and augment their market shares. For instance, in July 2021, Amazon Web Services, Inc. (U.S.) partnered with Hugging Face, Inc. (U.S.), an open-source provider of natural language processing (NLP) technologies. This partnership aimed to make it easier for enterprises to use State of Art Machine Learning models and ship cutting-edge NLP features more quicker. Following this partnership, Hugging Face would use Amazon Web Services as its Preferred Cloud Provider to provide services to its users. In September 2021, Amazon launched a new dataset of commonsense dialogue to aid research in open-domain conversation.
Such factors and developments by the major market players help are expected to support the rapid growth of AI and machine learning during the forecast period.
Table of contents
11 chapters · 109 sections · 200 pages · click to expandSegmental analysis
| Segment | Largest share (2022) | Fastest growth (2022–2029) |
|---|---|---|
| By Type | — | Image & video |
| By End-use Industry | — | Retail & e-commerce |
By Type
- Image & Video Segment to Register the Highest CAGR During Forecast Period
- The image & video segment is slated to register the highest CAGR during the forecast period.
- This segment's fast growth is attributed to the rising focus of key players to launch new datasets with a rising number of applications.
By End-use Industry
- Retail & E-commerce Segment to Register the Highest CAGR During Forecast Period
- The retail & e-commerce segment is slated to register the highest CAGR during the forecast period.
- The fast growth of this segment is attributed to AI leading to more personalized experiences for shoppers, increased efficiency for businesses, and a whole new set of dimensions for marketers.
Geographic analysis
Asia-Pacific
Fastest growthAsia-Pacific is slated to register the highest CAGR during the forecast period. 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. Asia-Pacific to be the Fastest-growing Regional Market These factors will lead to the high deployment of AI datasets in the APAC region
Competitive landscape
- 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
- Superb AI, Inc. (U.S.)
Frequently asked questions
The global AI training dataset market is slated to register a CAGR of 24.7% to reach $9.35 billion during the forecast period 2022–2029.
Cite this report
Meticulous Research. (2022). AI Training Dataset Market - Global Opportunity Analysis And Industry Forecast (2022-2029) (Report No. MRICT - 104716). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/ai-training-dataset-market-5400