Text Analytics Market 2020: Top Factors that Are Leading the Industry around the Globe

Comprehending the benefits of the text analytics in predicting and forecasting consumer behavior, the technology is gaining ground and helping corporations to strategically position themselves in the competitive market. The capability of the technology to deduce trends from the unstructured text and single out rationale is the driving force for the market.

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Predictive analytics is the most attractive application within text analytics, which provides insights on the unstructured text and helps the companies to formulate business strategies accordingly. Retail sector largely uses text analytics software, which approximately contributes 1/3rd of revenue amongst all industries. Use of text analytics in Healthcare accelerates Health-Care research, which eventually adds to the rapid growth of the healthcare and pharmaceutical sector.

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Text analytics finds wide acceptance in regions such as North America due to the early adoption of big data analytics in the region. North American region approximately holds 40% of global text analytics market amongst all regions. Till 2012, North American region generated about 2.5 exabyte (2.5 million gigabytes) of data per day and the number is anticipated to double every 40 months. For instance, Walmart collect 2.5 petabytes of data from their customers’ transactions. Therefore, the use of text analytics software to analyze customers’ demands is on the higher side, as compared to other regions. Substantial amount of data is generated in the region on a daily basis, which is a gold mine for companies that understand the importance of historical data. Historical data trend is further used to forecast the trend of the market in the coming years. Therefore, predictive analytics is also increasingly used to forecast the market trend and formulate the business strategies.

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Key questions answered in Text Analytics Market research study:

• What is the market growth rate of Text Analytics Market from 2019-2026?

• What will be the global market size of the market from 2019 to 2026?

• Who are the leading global players in the Text Analytics Market?

• What are the current trends and predicted trends?

• What are the challenges faced in the Text Analytics Market?

• Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?

• Which will be the anticipated growth rates for your own Text Analytics Market economy altogether and also for every segment inside?

• Which will be the Text Analytics Market application and types and forecast accompanied closely by producers?

• What are the conclusions of the Text Analytics Market report?

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The report expounds on the strategies of top players such as,

• IBM

• Attensity

• Microsoft

• Clabridge

• SAS

• HP

• Tibco Software

• Oracle

• Tableau Software

• SAP.

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