Data Annotation Tools Market Share

North American Market Forecast

The data annotation tools market in North America is projected to be the largest with a share of about 30% by the end of 2037. The growth of the market can be attributed majorly to the increasing number of devices connected to the Internet of Things (IoT). In 2022, there were nearly 3 billion connected IoT devices in North America, and this number is expected to rise to more than 6 billion devices by 2030. On the other hand, the rising adoption of AI in healthcare is also expected to boost market growth. In a poll of US healthcare executives, around 41% said that as of 2021, their use of AI had reached a fully functional level. Another nearly 26% claimed that their AI system is partially working.

APAC Market Statistics

The Asia Pacific data annotation tools market is estimated to be the second largest, registering a share of about 28% by the end of 2037. The growth of the market can be attributed majorly to the rising penetration of the internet, which in turn is expected to expand data generation. India adds up to 25 million new smartphone users every three months and has the highest mobile data usage rate in the world at around 12 gigabytes (GB) per user per month. In addition to this, China produced around 8 trillion gigabytes of data in 2018.   That sum is anticipated to increase to around 49 trillion gigabytes by 2025. Furthermore, rising demand for autonomous cars in the region is also expected to augment the data annotation tools market growth. To promote modern mobility services, the Japanese government intends to utilize autonomous driving vehicles in more than 40 areas nationwide by 2025.

Europe Market Forecast

Further, the data annotation tools market in Europe is projected to hold a majority of the share by the end of 2037. The growth of the market can be attributed majorly to the rising adoption of facial recognition technologies. Furthermore, face recognition has quickly transformed from a cutting-edge curiosity to an essential component of daily life. Technologies for facial recognition are developing quickly, and algorithms are getting better every day. In 11 European nations, law enforcement agencies already use biometric identification systems in their investigations. Moreover, facial recognition technology is used by police for former identification during criminal investigations in France, Germany, Greece, Hungary, Italy, Austria, Finland, France, and other regions.