AI Training Dataset Global Market Report 2024

The AI training dataset market size has grown exponentially in recent years. It will grow from $2.15 billion in 2023 to $2.63 billion in 2024 at a compound annual growth rate (CAGR) of 22%. Historical growth can be attributed to the rapid expansion of AI and machine learning, the increasing utilization of training datasets across various industries, the growing significance of data quality, concerns regarding data privacy and security, and the expanding applications of training datasets across several industries.

The AI training dataset market size is expected to see exponential growth in the next few years. It will grow to $5.73 billion in 2028 at a compound annual growth rate (CAGR) of 21.5%. The forecasted growth can be attributed to the growing demand for analyzing large and complex data, the increasing utilization of machine learning, the rising demand for AI applications, the emergence of edge computing, and government initiatives and regulations. Major trends in the forecast period include advancements in AI technologies, the growing adoption of advanced technologies in organizations, product innovation, government initiatives, and increasing collaboration efforts.

The anticipated rise in the adoption of artificial intelligence (AI) solutions within business processes is poised to drive growth in the AI training dataset market. AI solutions encompass the application of AI techniques, technologies, and methodologies to address specific tasks or challenges. The quality and comprehensiveness of a training dataset are crucial as they enable AI algorithms, particularly machine learning models, to learn and understand patterns and relationships within the data, thereby improving the model's ability to generalize its knowledge to unseen instances. For example, a report by Stepsize AI, a UK-based technology company, predicts widespread AI integration among software teams, with 70% expected to incorporate AI into their daily operations. Additionally, 55% of businesses have already adopted AI, and an additional 15% are planning to do so by 2024, underscoring the growing adoption of AI solutions in business processes as a key driver of the AI training dataset market.

Leading companies in the AI training dataset market are focused on developing cutting-edge technologies, including state-of-the-art products, to cater to customers' needs with advanced features. A state-of-the-art product represents the pinnacle of technology, design, and features available in the industry. For instance, EON Reality, a US-based software company, introduced EON Train AI in October 2023. EON Train AI revolutionizes AI training for organizations by simplifying and accelerating the process, previously labor-intensive and complex, into a swift, streamlined, and precise endeavor. Its efficiency allows for the completion of complex tasks in minutes, showcasing its remarkable potential to transform and expedite AI training processes.

In September 2021, Appen Limited, an Australia-based AI company, acquired Quadrant Global Pte Ltd. for $25.3 million, expanding its market reach and enhancing its product and service offerings. This acquisition enables Appen to incorporate additional capabilities in mobile location and point-of-interest (POI) data, thus broadening its addressable market and enriching its offerings for customers. Quadrant Global Pte Ltd., based in the US, specializes in providing custom data collection and annotation services for AI training datasets.

Major companies operating in the AI training dataset market report are Google LLC, Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, Alegion, Telus International, Lionbridge Technologies Inc., Samasource Inc., Appen Limited, Appen Limited, Scale AI Inc., Hive, Cogito Tech LLC, EON Reality, Defined.AI, CloudFactory Limited, Deep Vision Data, Labelbox Inc., Playment Inc., SuperAnnotate AI Inc., Dataloop, Kinetic Vision Inc., Globose Technology Solutions Pvt Ltd., Trilldata Technologies.

North America was the largest region in the AI training dataset market in 2023. The regions covered in the AI training dataset market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the AI training datasets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The AI training datasets market includes revenues earned by entities by providing services such as data labeling, data annotation, data cleaning and pre-processing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The AI training datasets market consists of sales of high-speed hard drives, solid-state drives (SSDs), and network attached storage (NAS) systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

AI training datasets are compilations of data utilized to train and enhance artificial intelligence (AI) and machine learning (ML) algorithms. These datasets encompass labeled or unlabeled information crucial for AI systems to discern patterns, make predictions, or execute tasks.

The primary types of AI training datasets include text, audio, and image/video. Text denotes any written or typed language-based information employed as input for machine learning models. These datasets are deployed through on-premise and cloud-based modes, serving various end-users such as automotive, BFSI (Banking, Financial Services, and Insurance), IT and telecom, government, retail and e-commerce, among others.

The AI training dataset market research report is one of a series of new reports that provides AI training dataset market statistics, including the AI training dataset industry global market size, regional shares, competitors with an AI training dataset market share, detailed AI training dataset market segments, market trends and opportunities, and any further data you may need to thrive in the AI training dataset industry. This AI training dataset market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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