AI Training Dataset Market Opportunities and Strategies to 2034: Top 10 Players Held 23.3% Share in 2023, Led by Alphabet and OpenAI - ResearchAndMarkets.com

The "AI Training Dataset Market Opportunities and Strategies to 2034" report has been added to ResearchAndMarkets.com's offering.

This report describes and explains the AI training dataset market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global AI training dataset market reached a value of nearly $2.62 billion in 2024, having grown at a compound annual growth rate (CAGR) of 21.97% since 2019. The market is expected to grow from $2.62 billion in 2024 to $7.3 billion in 2029 at a rate of 22.71%. The market is then expected to grow at a CAGR of 20.38% from 2029 and reach $18.47 billion in 2034.

Growth in the historic period resulted from the rise of chatbots and virtual assistants, increased investment in ai research and development, rapid growth of the large language model (LLM) and increased adoption of ai across industries. Factors that negatively affected growth in the historic period were data privacy and security concerns.

Going forward, expansion of e-commerce, rising adoption of ai in content creation, increasing social media platforms, rising demand for autonomous systems and strong economic growth in emerging markets will drive the growth. Factor that could hinder the growth of the AI training dataset market in the future include lack of skilled personnel and technical expertise.

The global AI training dataset market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up 23.3% of the total market in 2023. Alphabet Inc. (Google LLC) was the largest competitor with a 3.1% share of the market, followed by OpenAI with 3%, Microsoft Corp. with 3%, Oracle Corporation with 2.7%, Amazon.com Inc. with 2.5%, International Business Machines (IBM) Corporation with 2.4%, Appen Limited with 2.4%, Telus International AI Data Solutions with 1.6%, CloudFactory Ltd. with 1.5% and Scale AI Inc. with 1.1%.

The AI training dataset market is segmented by type into text, audio and image/video. The text market was the largest segment of the AI training dataset market segmented by type, accounting for 46.53% or $1.21 billion of the total in 2024. Going forward, the text segment is expected to be the fastest growing segment in the AI training dataset market segmented by type, at a CAGR of 22.65% during 2024-2029.

The AI training dataset market is segmented by deployment mode into on-premise and cloud. The cloud market was the largest segment of the AI training dataset market segmented by blending capacity, accounting for 65.25% or $1.71 billion of the total in 2024. Going forward, the cloud segment is expected to be the fastest growing segment in the AI training dataset market segmented by blending capacity, at a CAGR of 23.91% during 2024-2029.

The AI training dataset market is segmented by end-use industry into automotive, BFSI, IT and telecom, government, retail and e-commerce and other end-use industries. The IT and telecom market was the largest segment of the AI training dataset market segmented by end-use industry, accounting for 30.76% or $807.89 million of the total in 2024. Going forward, the retail and e-commerce segment is expected to be the fastest growing segment in the AI training dataset market segmented by end-use industry, at a CAGR of 25.83% during 2024-2029.

North America was the largest region in the AI training dataset market, accounting for 34.30% or $900.98 million of the total in 2024. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the AI training dataset market will be Asia-Pacific and North America where growth will be at CAGRs of 24.54% and 22.94% respectively. These will be followed by Western Europe and South America where the markets are expected to grow at CAGRs of 21.84% and 20.56% respectively.

The top opportunities in the AI training dataset market segmented by type will arise in the text segment, which will gain $2.16 billion of global annual sales by 2029. The top opportunities in the AI training dataset market segmented by deployment mode will arise in the cloud segment, which will gain $3.29 billion of global annual sales by 2029. The top opportunities in the AI training dataset market segmented by end-use industry will arise in the IT and telecom segment, which will gain $1.27 billion of global annual sales by 2029. The AI training dataset market size will gain the most in the USA at $1.39 billion.

Market-trend-based strategies for the AI training dataset market include advancements in AI training datasets for enhanced model performance, the role of technology platforms in AI dataset optimization, focus on user-friendly AI tools streamline data preparation processes, innovative approaches to sourcing large-scale ai training data.

Player-adopted strategies in the AI training dataset market include focus on strengthening its business capabilities through new product solutions, new product developments and expanding its operational capabilities through strategic partnerships.

To take advantage of the opportunities, the analyst recommends the AI training dataset companies to focus on developing open datasets, focus on developing innovative technology platforms, focus on developing user-friendly AI tools, focus on the image/video market segment, focus on the cloud market segment, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships for diverse datasets, provide competitively priced offerings, continue to use B2B promotions, participate in trade shows and events and focus on the retail and e-commerce market segment.

Key Attributes:

Major Market Trends

• Advancements in AI Training Datasets for Enhanced Model Performance
• The Role of Technology Platforms in AI Dataset Optimization
• Focus on User-Friendly AI Tools Streamline Data Preparation Processes
• Innovative Approaches to Sourcing Large-Scale AI Training Data

Key Mergers and Acquisitions

• Hugging Face Acquired Argilla
• Databricks Acquired MosaicML
• Appen Limited Acquired Quadrant Global Pte Ltd.

Companies Featured

• Alphabet Inc. (Google LLC)
• OpenAI
• Microsoft Corp.
• Oracle Corporation
• Amazon.com Inc.
• International Business Machines (IBM) Corporation
• Appen Limited
• Telus International AI Data Solutions
• CloudFactory Ltd.
• Scale AI Inc.
• RIKEN
• Citadel AI
• Alibaba Group
• ZhiYuan Research Institute
• Civica
• Tokopedia
• Preferred Networks
• Fujitsu
• Samsung SDS
• LG Electronics
• Baidu
• iFlytek
• ByteDance (TikTok)
• Accenture
• Elsevier
• Argilla
• T-Labs (Deutsche Telekom Labs)
• CureMetrix
• Pixmap.ai
• Transaction Network Services
• Rossum
• Neurotechnology
• Cognity
• DeepMind
• Yandex
• Nvidia Corporation
• OctoML, Inc.
• Meta Platforms Inc.
• Palantir Technologies Inc.
• Cohere Inc.
• Salesforce, Inc.
• Digital.ai Software, Inc.
• Splunk Technology
• Cisco Systems, Inc.
• Cogito Tech LLC
• Deep Vision Data
• Lionbridge Technologies, Inc.
• Samasource Inc.
• Ginkgo Bioworks
• Innodata
• Reddit
• TELUS International
• Reka AI
• Satellogic Inc.
• Lionbridge Technologies
• EON Reality
• Watad
• Clickworker GmbH
• Sensi.AI
• Deloitte
• Agility 

For more information about this report visit https://www.researchandmarkets.com/r/si93nf

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