Report Ocean (150+ country’s markets analysed, function on 1,00000+ published and forthcoming reports every year.] presents a research report and top winning strategies for the Japan Data Annotation Tools. Best subject matter experts, researchers, and market research professionals organized this report in order to ensure that the information in it is compiled from the most authentic sources and that the forecast is of the highest accuracy. To forecast market growth, specialists employ a variety of methodologies and analytical approaches, including S.W.O.T. (analysis methods), P.E.S.T.E.L. analysis, and regression analysis. The Japan Data Annotation Tools study also looks at the various regulations and policies that the firm has implemented. This report discusses the industry in terms of research technology and precise prospective utilization, innovation, and future advancements in the Japan Data Annotation Tools.
The Japan data annotation tools market held a market value of USD 73.6 Million in 2021 and is projected to reach USD 1,363.8 Million by the year 2030. The market is anticipated to register a CAGR of 38.3% during the forecast period.
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Data annotation tools create bounding boxes for object detection, coupled with segmentation masks for semantic and instance segmentation to distinguish the objects of several classes. The data annotation tools industry is mounting steadily due to the enhanced application of artificial intelligence in medical and other industries, surge in awareness and incorporation of international players in the Japan market, and propelling strategic activities by the prominent players. For example, in October 2020, CloudFactory, a Japan leader in managed workforce solutions, unveiled a new computer vision offering, Data Annotation Solution.
On the other hand, the data privacy compliance is of concern among the developing economies. In addition to that, limited access to top-notch technologies for the country is expected to hinder the market growth.
Growing Technology Advancements in Japan
The cumulative inclination of the major companies on Japanese market for data annotation tools drives the growth rate of the indsutry. For instance, in December 2017, Transcosmos inc. and Transcosmos analytics Inc., a Japanese wholly-owned subsidiary which specializes in research and analysis, entered into a partnership with ABEJA Inc., a company promoting industrial restructuring with the help of deep learning. Transcosmos also launched a second annotation center in Okinawa, Japan, to enhance center capabilities specializing in developing massive volume of teacher data. Such data is needed for artificial intelligence (AI) as well as machine learning (ML) technologies. Therefore, such steps aid the growth rate of the market.
Increasing Opportunity of Data Annotation in Machine Learning
Data annotation has always played a quintessential role in the field of machine learning. These tools are a core component to the accomplishment of any artificial intelligence model. Data annotation tools aid in proper segmentation of different aspects of data, including collecting, refining, storing, and analysing, among others. Such aspects of proper clean data or refined measure of data creates better machine learning models and systems. The increased use of such tools in ML in Japan end use industries is fueling the growth rate of the industry.
The Japan data annotation tools market is segmented into data type, technology, device type, and end users.
By Data Type,
o Text Classification
o Boundary Boxes
o Line Annotation
o Image Transcription
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o Key point
o Voice Activity Detection (VAD)
o Speaker Identification
o Automated Speech
The text segment held the largest market share of more than 30% in 2021. The image segment is estimated to cross the mark of USD 100 Million revenue by 2026 owing to its adoption and awareness of data annotation tools for image datasets.
The supervised segment held a major share of more than 55% in 2021 due to the rising usage of such technology in the several applications. On the other hand, the automatic segment is projected to hold the highest CAGR of 39.9% during the forecast period.
By Device Type,
? Mac OS
The Mac OS segment is expected to holds an opportunity of more than USD 600 Million during the forecast period of 2022 to 2030.
By End Users,
? Transportation and logistics
? Telecommunication and IT
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The retail segment is anticipated to cross the mark of USD 100 Million revenue by 2027 owing to the high demand. The transportation and logistics segment (=held the largest market share of more than 25% in 2021.
The Japan data annotation tools industry is likely to nurture expansively during the forecast period owing to the growing strategic developments by the companies operating in the marketspace. For instance, in November 2019, CloudFactory, one of the Japan leaders in managed workforce solutions for artificial intelligence (AI), secured USD 65 Million in growth equity funding, through FTV Capital and Weatherford Capital. Such an investment marks a milestone to deliver high-quality data work for its Japanese customers.
Key players operating in the Japan data annotation tools market include Appen Limited, Annotate.com, Cloud Factory Limited, Cogito Tech LLC, CloudApp, Deep Systems, Labelbox, Inc, Google Inc., LightTag, Lotus Quality Assurance, Lionbridge Technologies, Inc., Tagtog Sp.zo., and Playment Inc. among others.
The key players in the market hold approximately 35% of the market share. These players are involved in product launches, collaborations, mergers, expansions, acquisitions, to gain competitive edge. For instance, in November 2020, TELUS International purchased Lionbridge’s artificial intelligence business segment for USD 935 Million,
The Japan data annotation tools market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the Japan Data annotation tools market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various components used in the manufacturing
? Manufacturing Cost Analysis: Cost-share of various components in data annotation tools
? Application of Data annotation tools in Service Sectors
? Performance of Data annotation tools in Service Sectors
The Japan data annotation tools market report answers questions such as:
? What is the market size and forecast of the Japan data annotation tools market?
? What are the inhibiting factors and impact of COVID-19 on the Japan data annotation tools market during the assessment period?
? Which are the products/segments/areas to invest in over the assessment period in the Japan data annotation tools market?
? What is the competitive strategic window for opportunities in the Japan data annotation tools market?
? What are the technology trends and regulatory frameworks in the Japan data annotation tools market?
? What is the market share of the leading players in the Japan data annotation tools market?
? What modes and strategic moves are considered favorable for entering the Japan data annotation tools market?
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