CHICAGO, USA, Nov. 10, 2022 /EINPresswire.com/ — Japan’s data annotation tools market was worth US$73.6 million in 2021, and is expected to reach US$1,363.8 million by 2030 by registering a compound annual growth rate (CAGR) of 38.3% during the forecast period, i.e. 2022-2030.
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Data annotation is the process of transferring a human data annotator into the raw dataset. Annotated raw data incorporates numeric and alphabetic data used in AI and machine learning.
Factors influencing the market
Ever-increasing technological advancements are mainly shaping the scope of the Japanese data annotation tools market. Data annotation has become quite common in Japan. Public and private cloud models will continue to evolve due to the growing contribution of industry giants. Japan, after the United States, is home to Fortune 2000 companies, which are driving the deployment of data annotation tools in the country. The Ministry of Interior and Communications conducted a survey in 2018, in which nearly 53% of Japanese enterprises have deployed cloud computing services to perform file storage and data sharing.
The accelerating demand for data annotation from Japan’s medical and industrial sectors will bring many growth opportunities for the market. The Japanese AI industry emphasizes robotics, which is heavily deployed in medical and industrial applications. Moreover, the demand for automatic annotation tools is expected to increase the achievement of a variety of data-driven processes.
Scarcity of robust tools and technologies may limit the growth of the market. Even in this revolutionary technological age, there is still a shortage of high-quality labeled datasets and skilled manpower. For effective data annotation procedures, there is a great need for efficient tools and technologies.
Data annotation is said to be time-consuming and labor-intensive if done manually. Experts spend hours cleaning and compiling unorganized data. In addition, professionals are under great pressure to maintain quality and accuracy. Most of the time, companies face challenges in terms of quality and quantity. Hence, this has increased the scope of AI and machine learning for automatic execution of functions. Data annotation tools are also helping in the field of artificial intelligence and have been beneficial to other stakeholders which will create opportunities for Japan data annotation tools market in the coming years.
Predictive annotation technologies are growing due to the fact that they can automatically recognize and label features based on similar manual annotations. Various industry giants are integrating data annotation tools into their products and improving the adoption of advanced technologies.
Based on the type of data, the text segment leads with the highest market share. In terms of data type, the text segment leads with the highest market share of 33.8%. Text annotation incorporates text, time series, and tag, which is mainly used for translation from one language to another and converting text into a summary. The video segment, on the other hand, will show the highest growth rate of 39.3% owing to the wide applications of video annotation in the automotive sector to instruct machine learning algorithms. Additionally, video annotation allows self-driving cars to identify pedestrians, streetlights, traffic signs and other cars on the road.
Based on technology, supervised segment leads with the highest market share of 57.8% in 2021. Supervised learning requires data to be trained to achieve machine understanding in order to accomplish the desired task. Supervised machine learning also imposes labeled data parameters in order to efficiently decode the input sequence. However, the automatic segment will show the highest growth rate of 39.9% as there is a growing trend towards automating the annotation process to free the workforce from stringent and quality controls.
In terms of device type, data annotation in Mac OS leads with an excellent share of 72.7% and will also show the highest growth rate of 32.2%. Markup annotation tools have significant reach in the coming years; therefore, companies are investing heavily. Mac OS allows users to access the markup toolbar of the application, which can additionally help to annotate images or PDF documents. Users can also affix digital signatures to any document.
Based on end users, the telecommunications and IT segment leads with the highest share of 27.9% in 2021. Mobile phones are a viable source of reliable data and enable automatic call monitoring phone calls and travel behavior. However, the retail segment will show the highest growth rate of 39.5% during the forecast period due to the fact that AI is growing rapidly in almost all of it. AI improves the efficiency of retailers and also deducts significant costs. Apart from this, the customers also experience significant profits and a high level of convenience.
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Google, Inc., Annotate Software, Playment, Amazon.com, Inc., Appen limited, Labelbox, Inc., Cogito Tech LLC, Scale AI, Inc., Deep Systems and others.
By data type:
o Text Classification
o Bounding boxes
o Line annotation
o Image transcription
o Key point
o Voice Activity Detection (VAD)
o Speaker identification
o Automated voice recognition
By device type:
By end users:
Transport and logistics
Telecommunications and IT
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