ACCESS Newswire
01 Jun 2020, 19:07 GMT+10
Role of data collection and labelling in medical imaging will sustain market growth through the course of pandemic.
ROCKVILLE, MD / ACCESSWIRE / June 1, 2020 / Penetration of Internet of Things (IoT) and Artificial Intelligence (AI) in data collection and labelling services are augmenting the revenue pool key market leaders in the data collection and labelling market. Variegated applications such as visual analytics, visual listening, and social media monitoring will augur well for market. According to Fact.MR's intuitive market intelligence, the global data collection and labelling market is on a stellar growth course at approximately 17% CAGR during the forecast period (2020-2030). In addition, many business organizations are outsourcing data collection and labelling services thereby boosting the market growth.
'Large enterprises must accelerate R&D to garner newer revenue streams in the immediate future,' finds Fact.MR.
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Key Takeaways of Data Collection and Labelling Market Study
Data Collection and Labelling Market - Key Growth Drivers
Data Collection and Labelling Market - Key Impediments
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https://www.factmr.com/report/4726/data-collection-and-labelling-market
Impact of COVID-19 on Data Collection and Labelling Market
The effect of COVID-19 on data collection and labelling market has been moderate in the first quarter of 2020. During the first two months, most companies had to cease their data collection services to mitigate the impact of COVID-19 outbreak. The time allowed market leaders to rethink their strategies in order to continue their operations as the pandemic spread worldwide. The foremost concern of companies is to ensure safety of surrounding communities and field teams through good hygiene and social distancing measures.
With COVID-19 well into the second quarter, players have modified their strategies to prepare for the new normal. Whether it's brainstorming solutions or relaying information, virtual teams have been deployed instead of carrying on in-person meetings. However, unpredictable network connectivity remains the major constraint for companies in data collection and labelling market.
Competition Landscape of Data Collection and Labelling Market
Prominent leaders that shape the competition of data collection and labelling market are featured in this Fact.MR report. Some of them include, but are not limited to, Playment Inc., Trilldata Technologies Pvt Ltd, Scale AI, Inc., Dobility, Inc., Labelbox, Inc. Alegion, Global Technology Solutions, Globalme Localization Inc., Reality AI, Appen Limited, and Annotate.com. Industry-wide collaborations, acquisitions, and mergers are few multi-pronged strategies undertaken by market leaders. For instance, Walmart Inc. acquired Trilldata Technologies Pvt. Ltd. in 2019 to leverage their retail services. Moreover, established players are integrating technologies such as machine learning into their businesses to improve their profitability.
About the Report
This 170-page study offers in-depth commentary on the data collection and labelling market. The study provides compelling insights on the data collection and labelling market on the basis of data type (text, image/video, and audio) and vertical (IT, automotive, government, healthcare, BFSI, and retail & ecommerce) across six key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
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About Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the veteran research team at Fact.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over thousand reports and 1 million+ data points, the team has scrutinized the Healthcare sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR's latest technology market reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Fact.MR
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