Text Analytics Market is predicted to reach USD 12.65 billion by 2024 at a CAGR of +17% over the forecast period (2019-2024) | SAP SE, IBM Corporation, SAS Institute, Inc, OpenText Corporation, Clarabridge, Inc

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Text Analytics enables organizations to explain what the customer is saying through observations and reviews using machine learning, statistics and visualization techniques. Increasing awareness amongst companies has made significant contributions to the global text analytics industry to enhance customer experience management.

Due to the growing adoption of social media platforms there has been a rapid growth in popularity of Text Analytics and is also the reason behind the growing popularity of cloud technologies for data storage. There is a worldwide change in the adoption of cloud technology. The ability to prevent fraud, manage risk, and plan effective marketing campaigns are some of the key drivers of the global text analytics application segment. Because the actual data is generated from a variety of sources, it adopts cloud technology and allows the company to analyze data and predict the same profitable results, accordingly.

The text analysis capabilities for analyzing data in real time have impacted the adoption of various businesses. Text analytics Market is drawing attention as a future technology that can redefine business processes. Emerging economies are also very likely to expand in the text analysis market, particularly in the Asia-Pacific region.

The text analytics ecosystem comprises vendors such as SAP SE, IBM Corporation, SAS Institute, Inc, OpenText Corporation, Clarabridge, Inc., Megaputer Intelligence, Inc., Luminoso Technologies, Inc., MeaningCloud LLC, KNIME.com AG,Infegy, Inc., Lexalytics, Inc, Averbis, and Bitext Innovations S.L.

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This Report Includes:

  • The Global Text Analytics Market Research Report evaluates market demand and scenarios from 2015 to 2025. This report studies current conditions and future market prospects at the global and national level. The global market for text analysis is categorized by deployment type, application, end use, and region.
  • Text analytics market can also be broken down on the basis of implementation: cloud or base.
  • Demand for text analytics software is increasing rapidly as most companies prefer cost effective solutions.
  • Solutions on the basis enable companies to invest in dedicated infrastructure and resources, but provide higher security compared to cloud solutions on base solutions.
  • Nevertheless, there is a rapid trend towards cloud-based solutions supported by better cloud security solutions and strict privacy rules in the industry.
  • During this prediction period, cloud-based text is an indicator of high growth rates for software software, which is expected to be around 80% of global text analytics market share in 2025.
  • The report also highlights various aspects of the analytics industry by evaluating the market using value chain analysis. The report includes several qualitative aspects of the text analytics industry in market drivers, market restraints and key industry trends. The report also provides in-depth assessments of market competition with global and local company profiles.

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Text Analytics Segmentation:

  • Market – By Component
    • Services
      • Managed Services
      •  Professional Services
        • Support and Maintenance
        • Consulting Services
        • System Integration and Deployment
    • Software
  • Market By Deployment Model
    • Cloud
    • On-Premises
  • Market By Organization Size
    • Small and Medium-sized Enterprises (SMEs)
    • Large Enterprises
  • Market – By Application
    • Customer Experience Management
    • Document Management
    • Governance, Risk and Compliance Management
    • Marketing Management
    • Workforce Management
    • Others
  • Market – By Vertical
    • Banking, Financial Services, and Insurance (BFSI)
    • Energy and utilities •Government and defense
    • Healthcare and life sciences
    • Manufacturing
    • Media and entertainment
    • Retail and Ecommerce
    • Telecommunications and Information Technology (IT)
    • Travel and hospitality
  •  Market By Region
    • North America
      • U.S.
      • Rest of North America
    • Europe
      • France
      • The UK
      • Spain
      • Germany
      • Italy
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Southeast Asia
      • Rest of Asia Pacific
    • Middle East and Africa
      • GCC Countries
      • Southern Africa
      • Rest of Middle East and Africa
    • Latin America
      • Brazil
      • Rest of Latin America

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