AI Training Dataset Industry Overview
The global AI training dataset market size is expected to reach USD 8,607.1 million by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 22.2% from 2022 to 2030. Artificial intelligence technology is proliferating. As organizations are transitioning towards 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 multiple 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, many companies are entering the market by releasing various datasets operating across different use cases to train the machine learning algorithm. Such factors are substantially contributing to market growth. Prominent market participants such as Google, Microsoft, Apple Inc, Amazon have been focusing on developing various artificial intelligence training datasets. For instance, in September 2021, Amazon launched a new dataset of commonsense dialogue to aid research in open-domain conversation.
AI Training Dataset Market Segmentation
Grand View Research has segmented the global AI training dataset market based on type, vertical, and region:
Based on the Type Insights, the market is segmented into Text, Image/Video, and Audio.
- The text segment dominated the market for AI training dataset and accounted for the largest revenue share of 32.2% in 2021. This is due to the high use of text datasets in the IT sector for various automation processes such as speech recognition, text classification, caption generation, and others.
- The audio segment is expected to cater to moderate share due to the availability of a wide range of audio datasets. These include music datasets, speech datasets, speech commands dataset, Multimodal Emotion Lines Dataset (MELD), environmental audio datasets, and many others.
- The image/video type segment is expected to witness the highest CAGR in the forecast period. This is due to the rising focus of key players to launch new datasets with a rising number of applications.
Based on the Vertical Insights, the market is segmented into IT, Automotive, Government, Healthcare, BFSI, Retail & E-commerce, and Others.
- The IT segment dominated the market and accounted for the largest revenue share of 33.2% in 2021. Based on vertical, the market is segmented into it, automotive, government, healthcare, BFSI, retail and e-commerce, and others.
- Various technology companies in the market are using machine learning technology to deliver enhanced user experience and develop innovative products. In order to be efficient, machine learning technology requires high-quality training data to make sure that ML algorithms are continuously optimized.
- AI in healthcare offers various opportunities in therapy areas such as lifestyle and wellness management, diagnostics, virtual assistants, and wearables. Apart from this, AI finds application in voice-enabled symptom checkers and improving organizational workflow.
AI Training Dataset Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile
Key players operating in the market for AI training dataset are adopting strategic initiatives such as mergers, collaborations, and acquisitions to gain competitive edge over others. Key market participants are also focusing on launching new training datasets. For instance, In January 2021, Vector Space AI, a datasets provider, entered into a collaboration with Elasticsearch B.V., a search company. The former company will be providing AI datasets to its users that are built in collaboration with the latter company. Vectorspace AI launched datasets that will power AI, ML and data engineering.
Some of the prominent players in the global AI training dataset market include:
- Google, LLC (Kaggle)
- Appen Limited
- Cogito Tech LLC
- Lionbridge Technologies, Inc.
- Amazon Web Services, Inc.
- Microsoft Corporation
- Scale AI Inc.
- Samasource Inc.
- Deep Vision Data
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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