The AI training dataset market is projected to reach $9.3 billion globally by 2031, growing at a compound annual growth rate (CAGR) of 21.6%, according to a report released by Allied Market Research. This growth is primarily driven by the increasing demand for high-quality labeled data, advancements in artificial intelligence (AI), and the expansion of applications utilizing AI technology.
The rise of machine learning and AI has generated a vast amount of data, contributing to the rapid growth of the AI training dataset market. However, the market is hindered in some regions by a lack of technological expertise. Despite this, the use of training datasets across industries is expected to create profitable opportunities for market expansion in the future.
The COVID-19 pandemic has further accelerated the adoption of AI-based tools and solutions, particularly in the healthcare industry. With businesses facing operational difficulties during the crisis, many turned to digital transformation, resulting in a significant demand for AI solutions. This trend has had a positive impact on the market for AI training datasets.
In terms of types of datasets, the text segment held the largest market share in 2021, accounting for over two-fifths of the global AI training dataset market revenue. This segment is expected to remain dominant by 2031. On the other hand, the image/video segment is projected to exhibit the fastest CAGR of 23.3% during the forecast period, driven by the increasing focus of key players on launching new datasets and the rising number of applications utilizing these datasets. Additionally, AI training datasets offer publicly available photographs for testing purposes.
In terms of end-users, the IT and telecom segment accounted for around one-fourth of the global AI training dataset market share in 2021 and is expected to continue its dominance by 2031. However, the healthcare segment is projected to display the fastest CAGR of 24.9% during the forecast period. AI in healthcare offers various opportunities in areas such as lifestyle and wellness management, diagnostics, virtual assistants, and wearables.
Geographically, North America held the highest market share in 2021, accounting for around one-third of the global AI training dataset market revenue and is expected to maintain its dominance by 2031. The Asia-Pacific region is expected to exhibit the fastest CAGR of 24.1% during the forecast period due to the release of new datasets to accelerate the adoption of AI technology in developing sectors.
Key players in the AI training dataset market include Google LLC, Amazon Web Services Inc., Microsoft Corporation, SCALE AI INC., APPEN LIMITED, Cogito Tech LLC, Lionbridge Technologies, Inc., Alegion, Deep Vision Data, and Samasource Inc.
The report by Allied Market Research provides comprehensive market intelligence, offering critical insights into the dynamics of the AI training dataset market. It is designed to facilitate strategic decision-making for both existing market players and those aspiring to enter the market.
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