Global Text Analytics Market Analysis Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global text analytics market analysis market in its upcoming report titled, “Global Text Analytics Market Analysis Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027”. The global text analytics market analysis market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the global text analytics market analysis market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global text analytics market analysis market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global text analytics market report has been segmented on the basis of deployment type, application, end-user, and region.
Text analysis, also known as text mining, is a process of retrieving high quality structured information from the available unstructured or unorganized text. There are various techniques available to retrieve the data from 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 user friendly interface for better representation and analysis of data.
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 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
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- 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
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