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May 18, 2020 10:34 AM ET

Data Annotation Tools Market is Surging with 32.54% of CAGR by 2027 – Deep Systems, Google, Labelbox, LIGHTTAG, Appen Limited


iCrowd Newswire - May 18, 2020

The data annotation tools Market was valued at US$ 695.5 million in 2017 and is projected to reach US$ 6450.0 million by 2027; it is expected to grow at a CAGR of 32.54% from 2020 to 2027.

The threat of coronavirus resulting the disease COVID-19 is expected to have disruptive impact on the economy, globally. It has disrupted the global supply of goods and services resulting the companies to fulfill the orders. It has resulted to reduced labor on supply side and slow down in the demand for products and services other side. Due to the shutdown of businesses and the fall in the demand of data annotation tools in the first quarter of 2020, the market is negatively impacted. Moreover, due to the falling GDP, the market will have negative impact on the growth rate of data annotation tools market. However, it is expected that the economy will regain its momentum soon; the market for data annotation tools will witness a significant demand.

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What Our Report Offers:

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Data Annotation Tools market based on various segments. It also provides market size and forecast estimates from year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Data Annotation Tools market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

Top Companies in Data Annotation Tools Market with their SWOT Analysis are-

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Keywords:    Data Annotation Tools, Data Annotation Tools Market, Data Annotation Tools Market 2020

Tags:    Reportedtimes, Research Newswire, English