AI Training Dataset Market projected to reach USD 14.67 billion by 2032 with CAGR of 23.28%
From GlobeNewswire: 2024-12-11 09:00:00
The AI Training Dataset Market was valued at USD 2.23 billion in 2023, projected to reach USD 14.67 billion by 2032, with a CAGR of 23.28%. Industries like healthcare, automotive, IT, and entertainment are driving growth, fueling demand for diverse, curated data essential for AI model training and accuracy enhancement.
The healthcare, automotive, and IT sectors are witnessing growing demand for AI training datasets as AI adoption accelerates. Machine learning and deep learning technologies require large-scale, high-quality datasets to train algorithms effectively. In healthcare, AI is revolutionizing diagnostics and drug discovery, while the automotive industry relies on AI for autonomous vehicles, necessitating extensive training datasets.
The AI Training Dataset Market is led by key players offering services such as data labeling, image and video annotation, and NLP training data. With a focus on high-quality, domain-specific datasets, these companies cater to the increasing demand for AI training data across industries like healthcare, automotive, and IT.
The Image/Video segment held the largest market share in 2023 at over 42%, driven by the crucial role of visual data in training AI models for various applications. As industries increasingly adopt AI technologies, the need for high-quality image and video datasets continues to grow, reinforcing the dominance of this segment in the market.
In 2023, the IT segment dominated with over 32% market share, driven by the expanding use of AI in predictive analytics, cybersecurity, and cloud computing. The growing adoption of AI-powered technologies necessitates large-scale datasets to optimize deep learning models, further propelling the IT segment’s growth in the AI Training Dataset Market. The AI Training Dataset Market is experiencing a surge in demand due to AI healthcare applications and autonomous vehicle technology. Innodata launched an AI Data Marketplace in September 2024 to offer on-demand datasets for AI/ML model training. NVIDIA introduced Nemotron-4 340B in January 2024 for generating synthetic data for large language models.
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