Global Text Analytics Market Analysis Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
Global Text Analytics Market Overview
"The Text Analytics Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Text analysis, also known as text mining, retrieves high-quality structured information from the available unstructured or unorganized text. Various techniques are available to retrieve unstructured data such as linguistic, statistical, and machine learning techniques. Text analytics is used for various purposes such as summarization, sentiment analysis, explicative, investigative, and for classification of various data. Innovative text analytics software provides a user-friendly interface for better representation and data analysis.
Rising demand for text analytics technology, owing to factors such as increasing acceptance of social media platforms and preference towards cloud technology for data storage, are key factors driving growth of the global text analytics market. In addition, increasing multilingual text analytics and industry specific text analytics to break language barriers are other factors fueling growth of the global text analytic market. Moreover, advanced data collection, metadata management policies, and rising big data analytics within organization help to improve technological efficiency. This factor is expected to boost the global text analytics market over the forecast period.
However, expensive analytic softwares, lack of awareness about the text analytical softwares and software handling professionals are key factors restraining growth of the global text analytics market. Moreover, government institutions also avoid the use of such analytical tools due to its high cost. This can also hamper growth of the global text analytics market over the forecast period.
Advance predictive analytics and reliability to analyze big data is expected to provide various opportunities for the global text analytics market in the coming years.
Currently, the market in North America dominates the global text analytics market in terms of revenue owing to growing technological advancements, increasing demand for data analysis, and presence of numerous key vendors in this region. The market in Europe accounted for second-highest revenue share in the global text analytics market, owing to acceptance of high end technologies, increasing social media platforms, and preference to cloud-based technologies for storage, followed by markets in Latin America, Asia Pacific and Middle East & Africa respectively. The market in Asia Pacific is expected to grow at the highest CAGR over the forecast period.
Global Text Analytics Market Segmentation:
Global text analytics market segmentation by deployment type:
Global text analytics market segmentation by application:
- Data analysis & forecasting
- Fraud/spam detection
- Intelligence & law enforcement
- Customer Relationship Management (CRM)
Global text analytics market segmentation by end-user:
- Military and defense
- Banking, Financial services and Insurance (BFSI)
- IT and telecom
- Entertainment and media
- Others (Automotive and Transportation, Healthcare, & Retail)
Global text analytics market segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- IBM Corporation
- Microsoft Corporation
- Hewlett-Packard Development Company, L.P.
- Attensity Group, Inc.
- Clarabridge, Inc.
- SAS Institute Inc.
- SAP SE
- TIBCO Software Inc.
- Tableau Software, Inc.
- Oracle Corporation
Request for TOC
Why Choose Us
- 360 Degree Approach
- Growth Consulting
- 24/7 Research Support
- Comprehensive-Level of Customization
- Comprehensive-Level of Customization
- Competitive Intelligence
- Single-Country/ Region Intelligence
- Post-Sale Service Assistance
- Access to Lead Analysts
- Available in PDF, Excel, Word/ PPT
Request for Customization
Don't just take our word. We are trusted by these great companies!