“According to SNS Insider, The Text Analytics Market size was valued at USD 8.12 billion in 2022 and is projected to reach USD 29.80 billion in 2030 with a growing CAGR of 17.65% Over the Forecast Period of 2023-2030.”
The market is carefully analyzed and projected in the market study for Text Analytics. It also aids in putting these insights into practice by emphasizing the positive effects for company stakeholders and industry leaders. Every company must think about how potential customers would use their items. Given the current level of uncertainty brought on by the COVID-19 scenario, this research is crucial for a better understanding of earlier disruptions and an improvement in readiness for the following steps in decision-making. The most current study attempts to demystify the complex market for business executives with practical suggestions and examples of adapting to unanticipated events. The knowledge of important industrial hurdles will be helpful to all potential readers.
The market research report provides forecasts and analyses for the global and regional Text Analytics market. The report contains both historical data and a revenue forecast. We evaluate the market factors at work as well as their potential future impact on demand. The report also looks at regional and global market opportunities. Numerous market drivers, opportunities, and limitations are carefully examined in the analysis. The main focuses of the study are also examined in light of their possible impact on future industry growth. The company's enormous development potential will be helpful in developing future strategies and understanding the dynamics of the business, which are always changing.
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Market Segmentation
The analysis splits the Text Analytics market into groups based on type, application, and geography to give readers a critical view of the market. The existing and prospective future developments of each market category have been examined. This study will identify the most valuable sub-segments in terms of revenue contribution for both the base year and the forecast year. The report also includes the fastest-growing sub-segments and their main growth factors. This study covers a wide variety of products, recent market research and development, and emerging application areas in a number of sectors.
Key Market Segmentation
-By Component
Solution
Services
-By Enterprise Size
SMEs
Large Enterprises
-By Application
Competitive Intelligence
Customer Relationship management
Predictive Analytics
Fraud detection
Risk Management
Social Media Analysis
Workforce management
Document management
Others
-By Deployment
Cloud
On-premises
-By End-user
BFSI
Retail
Government
Healthcare
Manufacturing
IT & Telecom
Media and Entertainment
Travel and Hospitality
Others
Key Driver
A key driver for the Text Analytics Market is the exponential growth of unstructured data from various sources like social media, emails, and customer feedback. Organizations are increasingly recognizing the value of extracting meaningful insights from this data to enhance decision-making processes, understand customer sentiments, and improve business strategies. Text analytics tools equipped with natural language processing (NLP) and machine learning algorithms enable efficient processing and analysis of this vast amount of unstructured text data. Additionally, the rising focus on customer experience management, sentiment analysis, and market intelligence further propels the adoption of text analytics solutions across industries, driving market growth and innovation.
Key Players:
The prominent market players are Microsoft Corporation, Luminoso Technologies, Inc., HP Enterprise, IBM Corporation, Knime.Com AG, RapidMiner, Inc., SAS Institute, Inc., OpenText Corporation, Indium Software, Bitext Innovations S.L., Infegy, Inc., Brandwatch, Lexalytics, Inc., Netbase Solutions, Clarabridge, SAP SE, Megaputer Intelligence, Inc., and others in a final report.
Competitive Outlook
To provide a comprehensive analysis of the market, the study separates the Text Analytics market into segments based on type, application, and geography. The present state and probable future developments of each market category have been evaluated. The results of this analysis will show which sub-segments are the most profitable in terms of revenue contribution for both the base year and the projected year. Also looked at are the fastest-growing sub-segments and their main growth factors. This study contains data on a variety of products, recent market research and development, and upcoming application areas in a number of industries.
Akash Anand – Head of Business Development & Strategy
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
