AI Training Dataset Market Analysis Report By Type, By Vertical, By Region And Segment Forecasts From 2020 To 2027

Industry Insights

The global AI training dataset market size was worth USD 956.5 million in 2019. It is projected to register 22.5% CAGR over the forecast years, 2020 to 2027. Increasing penetration of artificial intelligence in different data-driven applications like voice recognition and image recognition is driving the market growth. In addition, the increasing need for human and machine interaction is estimated to provide new growth opportunities for market players.

With the help of AI, machines learn from experiences, adjust to new programs and perform tasks like a human. These machines are capable of processing a huge amount of data and determine the pattern to accomplish any particular task. To train these machines, certain datasets are needed. Thus, increasing demand for datasets is driving the growth of the market.

These machines’ functions entirely depend on the dataset given to them. Therefore, to train AI, high-quality datasets are required. Quality data sets help in enhancing AI performance and accuracy. Vendors are increasingly focusing on collaborating with companies that can help them with quality data. For example, Appen Limited acquired Figure Eight Inc. in 2019 as the latter company provides high-quality data generated with the help of automated tools.

Type Insights

Depending on the type, the artificial intelligence training dataset market is categorized into text, audio, and image/video. In 2019, the text segment accounted for the highest share in the market. Increasing use of text datasets in the information technology sector for several automation processes such as text classification, caption generation, and speech recognition. On the other hand, the audio segment is projected to register a moderate share owing to the availability of an extensive range of audio datasets such as speech datasets, Multimodal EmotionLines Dataset, environmental audio datasets, and music datasets among others.

The image/video type category is likely to register the highest growth over the forecast duration owing to increasing focus by key players to introduce new training sets having various applications. For example, Google LLC in 2019 introduced Google-Landmarks-v2. This AI-based dataset was launched for instance recognition and image retrieval.

Vertical Insights

By vertical, the AI training datasets market has been classified into healthcare, retail, e-commerce, automotive, IT, government, and others. In the healthcare sector, AI offers several opportunities in therapy areas like lifestyle & wellness management, wearable, virtual assistance, and diagnostics. In addition, AI is used in improving organizational workflow and voice-enabled symptom checkers. These abovementioned applications require a training set to ensure an accurate result.

IT sector held the largest share in the market in 2019. Several companies in the market are making use of machine learning to develop advanced products and enhance user experience. Machine learning requires advanced datasets for its effective operations. In addition, quality data sets help IT companies with various other solutions such as data analytics, virtual assistance, crowdsourcing, and computer vision. Thus, these factors are anticipated to drive the use of data sets in the IT sector over the next few years.

Regional Insights

Vendors in North America are focusing on introducing new training sets to strengthen AI adoption in the region. For example, Waymo LLC, in 2019, released a new dataset for self-driving vehicles. This dataset includes the data from LiDAR and camera sensors under different driving conditions like pedestrians, signage, and cyclists.

Emerging countries such as China and India are increasingly witnessing the adoption of innovative technologies to transform their businesses. In addition, vendors are focusing on expanding their business operations in the Asia Pacific. Europe, on the other hand, is anticipated to witness moderate growth over the forecast years.

COVID-19 Impact Analysis

COVID-19 outbreak is projected to positively affect the AI training dataset market. The pandemic has compelled businesses to adopt advanced analytics, and other AI-based technologies to ensure smooth operations of their businesses. COVID-19 has caused uncertainty about how the businesses will function. This has led to increasing dependencies of businesses on innovative technologies, which, in turn, is projected to drive market growth over the forecast duration. Various industries such as e-commerce, healthcare, automotive, and IT are anticipated to witness increased adoption of AI training datasets to automate their businesses.

AI Training Dataset Market Share Insights

Market players are increasingly focusing on Recent Developments such as collaboration, merger & acquisition, and partnerships to consolidate their position in the market. In addition, companies are emphasizing the introduction of new training sets. For example, a datasets provider Vectorspace AI collaborated with Elasticsearch B.V, where the former company will provide AI training datasets to users with the help of the latter. Key players operating in the market are Scale AI, Inc., Cogito Tech LLC, Amazon Web Services, Inc., Alegion, Google, LLC, and Samasource Inc. among others.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Million Insights has segmented the global AI training dataset market report based on type, vertical, and region:

• Type Outlook (Revenue, USD Million, 2016 - 2027)
    • Text
    • Image/Video
    • Audio

• Vertical Outlook (Revenue, USD Million, 2016 - 2027)
    • IT
    • Automotive
    • Government
    • Healthcare
    • BFSI
    • Retail & E-commerce
    • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
        • The U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • The U.K.
        • France
    • The Asia Pacific
        • China
        • Japan
        • India
    • South America
        • Brazil
    • Middle East and Africa