Allied Market Research released a report titled “AI Training Dataset Market by Type (Text, Audio, Image/Video), by End User (IT and Telecom, BFSI, Automotive, Healthcare, Government and Defense, Retail, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.”
The report estimates that the global market for artificial intelligence training datasets generated $1.4 billion in 2021 and will grow at a CAGR of 21.6% from 2022 to 2031 to reach $9.3 billion. The research provides a thorough analysis of the industry’s shifting trends, leading market segments, important investment areas, value chains, regional environments, and competitive scenarios.
By type, text held the lion’s share in 2021, accounting for over two-fifths of the revenue generated by the worldwide AI training dataset market. By 2031, it is anticipated that text will rule the roost. On the other hand, the image/video segment will exhibit the fastest CAGR of 23.3% during the predicted period. This is a result of important players putting more effort into launching new datasets and applications.
In terms of end users, the IT and telecom segment held about one-fourth of the global AI training dataset market share in the year 2021 and is anticipated to take the lead by 2031. On the other side, the healthcare segment will experience the fastest CAGR of 24.9% during the predicted period. This is due to the wide range of therapeutic potential provided by AI in the healthcare industry, including management of lifestyle and wellness, diagnostics, virtual assistants, and wearable technology.
By region, North America had the biggest share in 2021, accounting for almost one-third of the market’s revenue for AI training datasets worldwide. By 2031, it is expected to continue to maintain the top spot. During the predicted period, the Asia-Pacific area would simultaneously exhibit the fastest CAGR of 24.1%, as a result of the broad availability of new datasets that will hasten the use of artificial intelligence technology in developing sectors.