Text Analytics Market to Grow US$ 18.28 Bn at a CAGR Of 24.2% by 2025

Text analytics has become vigorous for smooth functionality of business. Text analytics is still mainly an undeveloped science and holds several different approaches. Text analytics has become increasing important in various purpose such as classification of information, sentimental analytics, and summarization of information and data investigation. It can be define as the process of analyzing retrieving of information from text sources. Text analytics is the processes of converting unstructured data into meaningful data for analysis. Text Analytics market is expected to grow US$ 18.28 Bn by 2025 from US$ 2.59 Bn in 2016.

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One of the major factor which drives the market for text analytics is rising growth of big data analytics because with big data analytics, data mining and text analytics brings the capabilities to business user to create analytical intelligence by display patterns in both structured and unstructured data. Enterprises are increasingly stressing on combining internal as well as external data sources to achieve efficiencies. In addition to this there are several other factors which drives the market such as increasing adoption of social media and increasing adoption of text analytics tools. However, the factor hindering growth of text analytics is lack of awareness about text analytics. The need to explore textual data to obtain new vision by combining industry knowledge is expected to boost the market.

Text Analytics Market Key Players

IBM Corporation

SAP SE

SAS Institute Inc.

Clarabridge

Expert Systems

OpenText Corp.

Basis Technology

Linguamatics

ANGOSS SOFTWARE CORPORATION

KNIME

Reason to Buy

- Highlights key business priorities in order to assist companies to realign their business strategies.

- The key findings and recommendations highlight crucial progressive industry trends in the Text Analytics market, thereby allowing players to develop effective long term strategies.

- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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The report segments the global text analytics market as follows:

Global Text Analytics Market – By Deployment Model
On-premise
Cloud

Global Text Analytics Market – By Technology
Natural Language Processing (NLP)
Automated Machine Learning (AML)
Hybrid

Global Text Analytics Market – By Application
Predictive Analysis
Social Media Monitoring
Fraud/Spam Detection
Competitive Intelligence
Others

Global Text Analytics Market – By Verticals
BFSI
Telecom Sector
Government
FMCG
Pharmaceuticals
Legal and Intellectual Property
Academia and Education
Chemistry and Materials
Healthcare
Retail
Others

Global Text Analytics Market – By Geography
North America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
U.K
Asia Pacific (APAC)
Japan
China
India
Australia
Middle East & Africa (MEA)
Saudi Arabia
South Africa
UAE
South America (SAM)
Brazil

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This release was published on openPR.