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AI Training Dataset Market Predicted to Achieve US$ 11.7 Bn Value by 2032 with North America as Dominant Market

Market.Us
Market.Us

According to Market.us, The need for precise data from users is driving companies to invest in AI training datasets to improve the accuracy of artificial intelligence. As a result, major corporations worldwide are making substantial investments in R&D, fueling market growth.

New York, April 10, 2023 (GLOBE NEWSWIRE) -- The global AI Training Dataset Market size accounted for USD 1.9 billion in 2022 and growth is estimated to accelerate at a CAGR of 20.5%, registering an incremental revenue of USD 11.7 billion by 2032. Artificial intelligence requires the initial data for training and analyzing the patterns and algorithms of the data and processing it to make informed decisions. With advancing technologies, the use of artificial intelligence has increased significantly across many industries. The ability of artificial intelligence to extract high-quality data by processing and data mining attracts users to adopt it. It is prepared on the high quality of the training dataset.

AI Training Dataset Market By Type
AI Training Dataset Market By Type

Get additional highlights on major revenue-generating segments, Request a AI Training Dataset Market sample report at https://market.us/report/ai-training-dataset-market/request-sample/

Key Takeaway:

  • By type, the text segment leads the market with the maximum share.

  • By end-use industry, the IT and telecommunications industry primarily uses the AI training dataset with a 31% market share.

  • North America held a major revenue share of 35.8% in the AI training dataset market.

  • Asia Pacific market is anticipated to experience significant growth over the forecast period.

With rising applications of artificial intelligence across industries, the work for artificial intelligence has become complex. Therefore, artificial intelligence must be trained on more accurate and high-quality data to complete the given tasks. This is increasing the demand for the AI training dataset in the market. Furthermore, with continuously evolving artificial intelligence, the demand for the AI training dataset is anticipated to grow in the upcoming period.

Factors Affecting the Growth of the AI Training Dataset Market

Several factors can affect the growth of the AI training dataset market. Some of these factors include:

  • Accuracy: The increasing demand for accurate and precise data from the user has forced companies to provide proper and accurate training to artificial intelligence through AI training datasets.

  • Innovative developments: Major companies in the AI training dataset are focusing on developing the datasets to provide the data for artificial intelligence training to provide innovative and creative solutions to users. This is boosting the growth of the market.

  • Rising adoption of AI: The rising adoption of artificial intelligence across various industries for its application is also boosting the growth of the AI training dataset market.

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Top Trends in Global AI Training Dataset Market

The increasing use of automation in the automotive industry is significantly affecting the growth of the AI training dataset market. Many major companies in the automotive sector are integrating artificial intelligence in their vehicles for various applications. This has significantly increased the demand for AI-based services in the market. This trend of AI integration will drive the market's growth in the upcoming period.

Market Growth

The increasing demand for accurate and precise data from the user has forced companies to provide the proper and accurate training for artificial intelligence through AI training datasets. Many major companies in the AI training dataset are focusing on developing the datasets to provide the data for the training of artificial intelligence to provide innovative and creative solutions to users. This is boosting the growth of the market. Moreover, the rising adoption of artificial intelligence across various industries for its application is also boosting the development of the AI training dataset market.

Regional Analysis

North America dominates the global AI training dataset market by accounting for a major revenue share of 35.8%. The growth of the AI training dataset market is attributed to the presence of developed and advanced infrastructure in countries like the United States and Canada. The presence of advanced infrastructure made it easy for North America to adopt artificial intelligence in their region quickly. Moreover, the presence of major companies in North America's AI training dataset market boosts the growth of the AI training dataset market in the region. After North America, the Asia Pacific region is anticipated to experience significant growth during the forecast period. The emergence of many companies offering the AI training dataset in the region and increasing adoption of artificial intelligence are driving the growth of the AI training dataset market in the region.

Competitive Landscape

The competitive landscape of the market has also been examined in this report. The AI training dataset market is fragmented into many companies offering the service. The companies are adopting various strategies to expand their global market share. The major strategy most players in the market adopt is to focus on research and development. They try to keep up with technological advancements. Some of the major players include Google LLC, Deep Vision Data, Cogito Tech LLC, Microsoft Corporation, Appen Limited, Samasource Inc., Amazon Web Services Inc., Inc., Scale AI Inc., Alegion Inc., Lionbridge Technologies Inc., and other key players.

Recent Development of the AI Training Dataset Market

  • In June 2021, MIT Media Lab, the Massachusetts Institute of Technology research facility, and Scale AI collaborated to integrate machine learning in the healthcare sector for more work efficiency in the sector.

  • In June 2022, Amazon Web Services Inc. added new features to its cloud platform. For example, it allows programmers to write the code and train datasets more efficiently on AI-based projects.

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Scope of the Report

Report Attribute

Details

Market Value (2022)

USD 1.9 Billion

Market Size (2032)

USD 11.7 Billion

CAGR (from 2023 to 2032)

20.5%

North America Revenue Share

35.8%

Historic Period

2016 to 2022

Base Year

2022

Forecast Year

2023 to 2032

Market Drivers

The importance of the training dataset is very high in the artificial intelligence market. Therefore, the growing artificial intelligence market also boosts the demand for AI training datasets. The increasing inclination towards automation and the rising use of artificial intelligence is driving the growth of AI in the training dataset market. Furthermore, various industries use artificial intelligence in their systems to optimize work, improve quality, and reduce time. This efficient working process of artificial intelligence is possible due to the high quality of the training dataset on which the AI was trained. All these factors are driving the growth of the AI training dataset market.

Market Restraints

The integration of the AI training dataset requires a huge amount of money. The installation cost for AI training datasets is quite high, which is restricting many companies worldwide from adopting artificial intelligence in their companies and respective industries. Also, the growth of the AI training dataset market is restricted by the lack of advanced infrastructure in developing and underdeveloped countries. The AI training dataset requires high-quality and advanced infrastructure to train artificial intelligence. The absence of high computing power systems and servers in underdeveloped countries cannot adopt artificial intelligence-based services in their countries. This is negatively impacting the growth of the AI training dataset market. These factors are restricting the growth of the AI training dataset market.

Market Opportunities

Many major companies worldwide are investing heavily in the research and development of a more accurate training dataset for AI. If the training of AI is done on biased or false data, it can reduce the demand for AI in the market and thereby decrease the growth of the AI training dataset market. To avoid such problems, many companies are developing a more accurate and unbiased training dataset for AI. This is anticipated to create many opportunities in the market during the forecast period.

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Report Segmentation of the AI Training Dataset Market

Type Insight

The high use of text training datasets in the IT and telecommunication industry for text classification, caption generation, and speech recognition are driving the growth of the text segment in the AI training dataset market. With increasing applications of AI in various countries, the text training dataset segment is growing significantly in the market. Although, the image and audio segment is expected to grow at the highest CAGR over the forecast period. With the increasing demand for advanced training datasets for AI, the image and video segment is anticipated to grow significantly over the forecast period.

End-Use Industry Insight

The IT and telecommunications industry dominates the end-use industry segment in the AI training dataset market. The IT and telecommunications industry's growth is due to the increased use of artificial intelligence in the IT and telecommunication industry for various applications. With advancing technology and the growing IT and telecommunication sector, the AI training dataset market is also expected to boost in the upcoming period.

For more insights on the historical and Forecast market data from 2016 to 2032 - download a sample report at https://market.us/report/ai-training-dataset-market/request-sample/

Market Segmentation

Based on Type

  • Text

  • Image and Video

  • Audio

Based on End-Use Industry

  • IT and Telecommunications

  • Automotive

  • Healthcare

  • BFSI

  • Government

  • Retail and E-Commerce

  • Other End-Use Industries

Based on Geography

  • North America

    • The US

    • Canada

    • Mexico

  • Western Europe

    • Germany

    • France

    • The UK

    • Spain

    • Italy

    • Portugal

    • Ireland

    • Austria

    • Switzerland

    • Benelux

    • Nordic

    • Rest of Western Europe

  • Eastern Europe

    • Russia

    • Poland

    • The Czech Republic

    • Greece

    • Rest of Eastern Europe

  • APAC

    • China

    • Japan

    • South Korea

    • India

    • Australia & New Zealand

    • Indonesia

    • Malaysia

    • Philippines

    • Singapore

    • Thailand

    • Vietnam

    • Rest of APAC

  • Latin America

    • Brazil

    • Colombia

    • Chile

    • Argentina

    • Costa Rica

    • Rest of Latin America

  • Middle East & Africa

    • Algeria

    • Egypt

    • Israel

    • Kuwait

    • Nigeria

    • Saudi Arabia

    • South Africa

    • Turkey

    • United Arab Emirates

    • Rest of MEA

Market Key Players:

  • Google LLC

  • Deep Vision Data

  • Appen Limited

  • Cogito Tech LLC

  • Samasource Inc.

  • Microsoft Corporation

  • Amazon Web Services Inc.

  • Scale AI Inc.

  • Lionbridge Technologies Inc.

  • Alegion Inc.

  • Other Key Players

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