AI Training Dataset Markets Forecast Continue to Look Strong with The Brainy Insights

As per the report published by The Brainy Insights, the global AI training dataset market is expected to grow from USD 1.62 Billion in 2022 to USD 13.75 Billion by 2032, at a CAGR of 23.85% during the forecast period 2023-2032. Over the projection period, Asia-Pacific is anticipated to develop at the highest CAGR of 25.77%. The adoption rate of new technologies is continuously rising as Indian business groups establish plans to update their operations. Several significant players are also focusing on expanding their presence in the Asia Pacific area. These factors are anticipated to boost dataset utilisation in the region, leading to a considerable growth rate throughout the projection period.

Leading companies in the industry include Appen Limited, Lionbridge Technologies, Inc., Microsoft Corporation, Samasource Inc., Deep Vision Data, Google, LLC (Kaggle), Amazon Web Services, Inc., Alegion, Cogito Tech LLC, Scale AI Inc., among others, offer more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The global AI training dataset market has been segmented based on type, vertical, and region. The type segment is divided into image/video, text, and audio. The text segment dominated, with a market share of around 35.02% in 2022. This is because text datasets are widely used in the information technology sector for a wide range of automation operations, including speech recognition, text classification, caption generation, and others. The vertical segment is divided into automotive, healthcare, retail & e-commerce, IT, BFSI, government, and others. The IT segment dominated the market, with a market share of around 16.53% in 2022. Many companies implement machine learning technologies to enhance user experience and produce cutting-edge products. Machine learning algorithms require high-quality training data to be continuously enhanced. High-quality datasets also help IT companies advance solutions, including computer vision, crowdsourcing, data analytics, virtual assistants, etc. Due to these factors, the business relies heavily on training datasets.

Manufacturing, IT, BFSI, retail and e-commerce, and healthcare are some industries where AI is becoming increasingly critical. The demand for application-specific training data has expanded for newcomers, opening up more options. Big data is becoming increasingly reliant on artificial intelligence (AI), as its capabilities allow for the extraction of more complex representations via a hierarchical learning process, necessitating the mining and extraction of meaningful patterns from vast volumes of data.

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