Text Analytics Global Market – Overview
The text analytics market was valued at US$ 4043.4 Mn in 2020 is expected to reach US$ 8961.3+ Mn by 2030. Text Analytics is a new IT discipline with its foundations in linguistics and data mining. The discipline is used to convert unstructured text data into meaningful data to conduct analysis, provide search facility, assemble feedback, search for client perspectives, analyze opinions, track product audits and entity modeling to enhance and support decision making which depends on certainties. Different linguistic, statistical, and machine learning techniques are used to retrieve information from unstructured data, structure the data and accordingly derive patterns, trends, assess and interpret data. The analysis techniques similarly includes lexical analysis, categorization, grouping, pattern recognition, labeling, annotation, data extraction, link, association analysis and visualization. Moreover, text analysts are collaborating with retail and e-commerce enterprises to establish themselves in the market. The development in cloud based technologies has pushed the demand for adoption in deployment of text analytic solution.
Global competitors of Text Analytics Market :Crimson Hexagon, Averbis, Bitext Innovations, S.L., Clarabridge, IBM, Infegy, Inc., KNIME.com AG, Lexalytics, LUMINOSO, MeaningCloud LLC, Megaputer Intelligence, Inc., Microsoft Corporation, OpenText Corp, Oracle, SAP SE, SAS Institute, Inc., TABLEAU SOFTWARE, The Hewlett-Packard Company and TIBCO Software Inc.
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Text Analytics Market, By Organization Size
Text analytics provide organizations with real-time insights for decision making within the enterprise and third-party data sources. Single-view of business would provide better business visibility and operational intelligence for organizations to focus on creating consumable bundles of insight on basis of consumer behavior, consumption patterns, social sentiment and the market response. With the evolving technology landscape, organizations cannot keep up with the pace of evolving. Advanced technologies offer new capabilities and benefits but they also introduce new risks. Small and Medium Enterprises (SMEs) are small in terms of their size but cater to a large number of customers globally. They make up the overwhelming majority of the world’s business landscape.
Text Analytics Market, By Region
North America region holds the largest market share among other regions for text analytics market. The region accounts for major text analysts’ companies adopting analytics software for creating business models that support real-time decision making and improve productivity. The increase in social media analysis for brand building, and the race for having competitive advantage over other competitors are some of the key factors to fuel the industry’s growth in North America.
Competitive Landscape
The report covers both, qualitative and quantitative research of the market, as well as include comprehensive insights and developments methods adopted by the key players. The report encompasses competitive detailed analysis of the key players which are driving the market. The key business strategies such as Mergers & Acquisitions, affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the report recognizes their manufacturing base, competitors, product type, application and specification, pricing, and gross margin.
Why Buy this Report?
- Extensive analysis on latest trends and growth opportunities in different regions across the globe
- Comprehensive assessment on recent technological advancements and forecast of the upcoming period
- A comparative analysis of leading players and emerging players in the Text Analytics market
- Authentic information on new product launches, organic and inorganic strategies, and more
- Valuable insights on the impact of regulatory framework on the global Text Analytics market
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