Data Preparation Industry To Rise Up Due To The Growth Of E-Commerce Businesses And Online Buying Behavior

  

Data preparation industry data book covers data collection and labelling, data labelling solutions and services & data integration market.

The global data preparation industry to account for USD 20.89 billion in revenue in 2021, which is expected to reach USD 88.33 billion by 2030, growing at a cumulative rate of 17.0% over the forecast period.

Grand View Research’s data preparation industry data book is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

 

Data Collection and Labelling Market Insights

The global data collection and the labelling market size was valued at USD 1.67 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 25.1% from 2022 to 2030. The market is expected to witness a surge in technology adoption owing to benefits such as extracting business insights from socially shared pictures and auto-organizing untagged photo collections. It also contributes to developing enhanced safety features in autonomous vehicles, such as condition monitoring, terrain detection, wear detection, and emergency vehicle detection.

The market demand for data labelling and collecting has increased due to the growth of e-commerce businesses and online buying behaviour. In addition, the need for data collection and labelling services has also increased due to the rise in automobile markets and the tendency of consumers to make purchases using both online and offline channels. The market demand for real-time data labelling has significantly increased due to the continuous growth of IT industries and cloud-based services. Moreover, additional AI-integrated services and media services have emerged as potential data sources for collectors.

 

North America dominated the market in 2022, accounting for more than 35% of global revenue. It is due to the increasing rise of cloud-based media services in the region. It is one of the key potential data venues for collection. The expanding integration of mobile computing platforms and artificial intelligence in digital shopping and e-commerce is credited with the rise of the North American regional segment. Data collection generates a lot of data for annotation.

The European regional market is predicted to increase significantly during the forecast period. As car obstacle detection technologies improve throughout the forecast period, the European auto industry will likely expand its market. On the other hand, the Asia Pacific is expected to develop at the fastest CAGR during the projection period. This expansion can be ascribed to the increased usage of mobile phones and tablets, data processing technologies, and the popularity of social networking sites in emerging economies such as China and India.

 

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Data Labelling Solutions and Services Market Insights

The global data labelling solution and services market size was valued at USD 8.69 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 21.0% from 2022 to 2030. By adding attribute tags, data labeling tools assist users in developing data value. Data labeling is a process for identifying raw data (text, videos images, etc.) and adding one or more significant and revealing labels to offer context. Machine learning has been incorporated in several industries, including facial recognition on social networking websites powered by data collection, automated picture organization of visual websites, and robots & drones. Prominent growth in the automotive business, particularly in self-driving vehicles, significantly fuels data labeling solutions and services. A self-driving vehicle has a multiplicity of sensors and networking devices that let the computer drive the vehicle.

In 2022, North America led the market, accounting for more than 31.0% of total revenue. Emerging investment in data labeling solutions in this region is leading the market growth. Early adopters of AI in the North American market, such as Canada and the U.S., are at the edges of data labeling solutions and services. During the forecast years, the European market is anticipated to increase steadily. In addition, emerging growth in automotive obstacle detection technologies are expected to fuel the market's growth in the European region's automobile sector over the forecast period.

The Asia Pacific regional market is anticipated to gain significant traction in the global market and expand at a CAGR of 22.8% over the forecast period. The growth is attributable to slight technological advancements, the rapidly increasing adoption of mobiles and tablets, and the increasing prominence of social networking in developing economies such as India and China. For instance, Real-name registering laws, which the Chinese government has strictly implemented, require all citizens to connect their official government ID with an internet account. Such policies are augmenting the use of data labeling solutions across the country.

 

Data Integration Market insights

 

The global data integration market size was valued at USD 10,534.0 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11.9% from 2022 to 2030. Data integration is the process of bringing data together from various sources into a single, comprehensive view. Transformation, cleansing, extract, transform, and load (ETL) mapping are a few processes involved in data integration. Analytics solutions can provide valuable, actionable business intelligence with the help of data integration. Data integration creates a unified, single view of an organization's data that a business intelligence application can access to deliver actionable insights based on the organization's data assets, regardless of the source or format.

 

North America dominated the market in 2021, accounting for over 39% share of the global revenue. Developed countries like Canada and the U.S. drive the market's growth. With the increased adoption of digital strategies, the region is moving towards upgraded and innovative technologies. Growing technological advancements in the area are essential factors promoting market expansion in North America. The rising number of global data integration businesses will aid the expanding market.

 

Asia Pacific is anticipated to register the fastest CAGR of 15.4% from 2022 to 2030. The leading players are focusing on growing their product portfolios, rising investments, and strategic partnerships to create both easy and robust functionality. Along with this, several initiatives were implemented, and it is anticipated that the industry will expand as e-commerce trade in the region continues to rise. For instance, in July 2022, Boomi, LP.a data integration platform provider, expanded its offerings for cloud data integration in Japan. The company invested in Japan's market to meet the increasing demand for business automation and data integration solutions which would scale the company's business for customers across the region.

 

Go through the table of content of Data Preparation Industry Data Book to get a better understanding of the Coverage & Scope of the study.

 

Data Preparation Industry Data Book Competitive Landscape

 

The market participants are implementing several organic and inorganic growth strategies, including new product launches, product modernizations, collaborations, corporate expansions, and acquisitions and mergers. For instance, in May 2022, Informatica Inc. announced a partnership with the Oracle enterprise connectivity and automation platform which offers modernized data, applications, APIs, and business processes.

 

Key players operating in the data preparation industry are –

• Alegion
• Amazon Mechanical Turk, Inc.
• Appen Limited
• Clickworker GmbH
• CloudFactory Limited
• Cogito Tech LLC
• Crowdworks, Inc.
• Deep Systems, LLC
• Denodo Technologies
• Dobility, Inc.
• Explosion AI GmbH
• Global Technology Solutions
• Globalme Localization Inc.
• Heex Technologies
• IBM Corporation