Worldwide AI Training Dataset Industry to 2028 - Featuring Appen, Cogito Tech and Scale AI Among Others - ResearchAndMarkets.com

The global AI training dataset market size is expected to reach USD 4.90 billion by 2028, according to a new report by the publisher. The market is anticipated to expand at a CAGR of 19.5% from 2021 to 2028. Artificial Intelligence (AI) technology is proliferating. As organizations are transitioning toward automation, the demand for technology is rising. The technology has provided unprecedented advances across various industry verticals, including marketing, healthcare, logistics, transportation, and many others. The benefits of integrating the technology across various operations of the organizations have outweighed its costs, thereby driving adoption.

Due to the rapid adoption of artificial intelligence technology, the need for training datasets is rising exponentially. To make the technology more versatile and accurate with its predictions, a wide number of companies are entering the market space by release various datasets operating across various use cases to train the Machine Learning (ML) algorithm. Such factors are substantially contributing to market growth.

Factors such as the cultivation of new high-quality datasets to speed up the development of AI technology and deliver accurate results are driving the market growth. For instance, in January 2019, IBM Corporation, a technology company, announced the release of a new dataset that comprises 1 million images of faces. This dataset was released to help developers to train their face recognition systems supported by artificial intelligence technology with diverse datasets. This dataset will help them to increase the accuracy of face identification.

AI Training Dataset Market Report Highlights

• The increasing creation of synthetic training data for unsupervised and supervised training of machine learning algorithms is driving the adoption of datasets by organizations thereby catalyzing the market growth
• The image/video segment is expected to portray a high CAGR of approximately 22% over the projected period
• The Asia Pacific regional market is expected to witness significant growth over the forecast period, owing to the substantial adoption of AI technology
• The key players in the market are Google, LLC (Kaggle); Appen Limited; Cogito Tech LLC; Lionbridge Technologies, Inc.; Amazon Web Services, Inc.; Microsoft Corporation; Scale AI; Inc.; Samasource Inc.; Alegion; and Deep Vision Data