Text Analytics Market Size to Reach USD 13,060.4 million by 2025 with Key players - HP Development Co., Attensity Inc., Tableau Software and Oracle

Text Analytics Market Size and Growth Rate:

According to our Research Report, the Global Text Analytics Market Size to reach USD 13,060.4 million by 2025 at a CAGR of 17.7%during the forecast period 2017-2025.

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Text Analytics Market Overview:

Text analysis, also known as text extraction is a process of extracting information from available text sources. In this process, the content of the value is derived from the raw data provided. This derived content is useful for business organizations to acquire ready-made information.

Text Analytics Market Growth Drivers and Restraints:

The growing popularity of text analysis technology is attributed to the growing acceptance of social networking platforms and the growing propensity to cloud technology for data storage. There is a global shift between businesses to adopt cloud technology. The ability to combat fraud, manage risk and plan effective marketing campaigns is one of the key drivers behind the global text analytics application segment. Since substantial data is generated from different sources, the adoption of technology in the cloud allows companies to analyze data and predict profitable results. The ability of text analysis to analyze data in real time has influenced its adoption by several companies therefore, text analysis is gaining importance as a futuristic technology that could redefine business processes.

However, expensive analysis software and lack of stakeholder knowledge can be a challenge to the growth of the market over the forecast period.
It is anticipated that the telecommunications and computing sectors will rapidly outpace the world in increasing numbers if the text-based solutions for visible improvement are major operations, internal processes and market trends. With the introduction of IT in the corporate sector, it is more convenient to store valuable information that further helps to analyze strategies and generate better business opportunities.

Geographic Segmentation of the Text Analytics Market:

Geographically, the global text analytics market is spread across North America, Latin America, Europe, Asia-Pacific, and Middle East and Africa. Developed regions, such as North America and Europe, are equally attractive to the text analytics market due to the large number of followers on social networks, state-of-the-art industrial infrastructure and the rapid growth of digital platforms such as e-commerce and ecommerce marketing in social networks. Although North America is currently the dominant region in terms of market valuation between these two regions, it is expected to experience strong competition in the future.

Key Market Players of the Text Analytics Market:

The global market for text analysis is led by many of the major players because of the effectiveness of its software. HP Development Co., Attensity Inc., Tableau Software and Oracle are among the key players in this market.

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Text Anaytics Market Key Segmentation:

By Deployment Model:

• Cloud
• On-Premises

By Application:

• Competitive Intelligence
• Customer Relationship Management
• Predictive Analytics
• Fraud detection
• Brand Reputation

By Organisation Size:

• Small and Medium Enterprises
• Large Enterprises

By End Users:

• Banking, Financial Services, and Insurance
• Retail and E-commerce
• Government and Defense
• Healthcare and Life Sciences
• Manufacturing
• Telecommunications and Information Technology
• Others

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