Global Text Analytics Market Market Precise Analysis and Forecast Assumptions till 2024

Market Research Reports Search Engine (MRRSE) has been acting as an impressive data source when it comes to evaluating various industrial verticals. The research report titled “Text Analytics Market" offers a clear insight about the Text Analytics Market assessed over the global platform. This analysis proves beneficial for readers & new investors who are aiming to enter the market for Text Analytics Market in the near future.

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The global text market analytics is expected to demonstrate a sharp growth in the coming years . According to a recent study published by the market research company, the worldwide text analytics market is dominated by a number of data and technology giants such as Google, Apple, IBM and Microsoft. These leading names in the industry are heavily investing toward research and development in the arena of text analytics for the past couple of years, and bringing about innovative products at a swift rate. The market is also being catered to some other players such as SAP SE, Attensity Group Inc., Angoss Software Corporation and RapidMiner Inc.

According to the report, the global market for text analytics is expected to exhibit a vigorous 17.6% CAGR over the forecast duration between 2015 and 2024. The market was valued at US$2.82 bn in the year 2015, and is anticipated to reach US$12.16 bn by the end of 2024.

Due to its Flexibility, Cloud Based Solutions Segment to get a Boost

Predominantly, enterprises prefer use of on-premise solutions on account of the safety and added security that this segment offers. Keeping business critical data secured is important for most IT and related companies. Hence cloud solutions being cost effective and flexible are gaining traction in the industry. There is a huge number of enterprises that want to shift toward use of cloud based solution for their data, and the market participants can turn this demand into fruitful opportunity.

In 2015, almost 84% of the consumers of text analytics solutions opted for on-premise deployment, and the dominance of the segment is expected to carry on over the period of forecast. Meanwhile, a large number of are predicted to show interest in cloud based solutions, which will drive the popularity of the cloud-based deployment market segment.

Popularity of Social Media to Offer Rich Market Opportunity

Web-based social networking has caught the consideration of purchasers, attributable to the benefits of social media, online shopping and communication. These components empowered organizations to embrace text analytics and comprehend consumer conduct designs for various products. Further, text analytics likewise empowers organizations to assemble and translate information from online networking for arranging effective advertising efforts.

This technology is still in its incipient stage, and creating compelling information, its collection and metadata service approaches may help enhance the innovation adequacy, and propel the text analytics showcase development over the coming years. Furthermore, growing demand of text analytics instruments into analytics programming devices to enable enterprises to break down information is likewise anticipated to fuel the rise of the overall market. However, exorbitant spending on investigative programming and absence of awareness among people may represent a test to the text analytics market growth.

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The report includes competitive profiling of major players engaged in the development of text analytics. The major business strategies adopted by these players, their market positioning, and recent developments have been identified in the research report. The report also provides market positioning analysis of major players in the text analytics market based on their 2015 revenues. Some of the major players profiled in the report include IBM Corporation, Microsoft Corporation, SAS Institute Inc., SAP SE, RapidMiner, Inc., Attensity Group, Inc., Predixion Software, Lexalytics, Inc. and Angoss Software Corporation. 

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The global text analytics market is segmented as below: 

Text Analytics Market: 

Text Analytics Market: By Deployment Type

On-Premise
Cloud-Based

Text Analytics Market: By Applications

Data Analysis & Forecasting
Fraud/Spam Detection
Intelligence & Law Enforcement
Customer Relationship Management (CRM)

Text Analytics Market: By End-User

Military and Defense
Manufacturing
BFSI
Retail
Healthcare
IT and Telecom
Entertainment and Media
Others (Automotive and Transportation and Hospitality)

Text Analytics Market: By Region

North America
U.S.
Rest of North America
Europe
EU7
CIS
Rest of Europe
Asia Pacific
Japan
China
South Asia
Australasia
Rest of APAC
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Rest of Latin America

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