Text Analytics Market (2022to 2027) - by Product Type, Sensor Type, End-user, and Region

Text Analytics Market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics have been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio, and recent developments. The Market share and Market size prominent players for 2022 to 2027 are profiled in this report.

Text Analytics Market is envisaged to record an expansion at the CAGR of 17.4% over the forecast period, 2022 - 2028

Competitive Landscape:

 IBM Corporation,  Microsoft Corporation,  SAP SE,  SAS Institute Inc.,  Lexalytics Inc.,  Luminoso Technologies Inc.,  Clarabridge Inc.,  Micro Focus International PLC,  OpenText Corporation,  RapidMiner Inc.,  Infegy Inc.,  Medallia Inc. and Others

Industry News:

- July 2020 - Microsoft Corporation announced the inclusion of text analytics capabilities within its Azure Cognitive Services product. According to the company, the text analytics for health feature can process various data types and tasks, including extracting more than 100 types of personally identifiable information (like protected health information) from unstructured texts.
- March 2020 -SAS released its COVID-19 search tool, which may extract text and numerical data from more than 50,000 research articles and allow users' quick access to relevant information.

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Scope of the Report

- Text analytics tools are being increasingly used by organizations to aid their business-making process by offering actionable insights from various forms of text sources, such as client interaction, emails, blogs, product reviews, tweets, and center logs.
- The primary objective of text analytics is to accumulate different forms of data, including structured and unstructured, which is further utilized for the analysis, thereby fueling the organization's business decisions.

Key Market Trends

Retail and E-commerce to Hold a Significant Share in Text Analytics Market

- In retail, text analytics plays an important role in analyzing customer behavior and predicting consumer nature, which is likely to drive the market in the industry. By adopting text analytics, organizations can provide personalized schemes and discounts to their customers by making use of their historical trends.
- Retailers use social media platforms as a key source to acquire data to utilize text analytics, anticipate the demand and supply, and enhance the customer experience.
- In order to meet increased expectations and direct communication from consumers, retailers should implement the technology and processes that enable them to manage the volume, variety, access, and governance of consumer data.

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Highlights about Text Analytics Market report coverage:

- A complete background analysis, which includes an assessment of the Global Text Analytics Market.

- Important changes in Text Analytics Market dynamics

- Text Analytics Market segmentation up to the second & third level regional bifurcation

- Historical, current, and projected size of the Text Analytics Market with respect to both value (Revenue) and volume (Production & Consumption)

- Reporting and evaluation of recent Text Analytics Market industry developments

- Text Analytics Market shares and strategies of key players

- Emerging niche Text Analytics Market segments and regional markets

- An objective assessment of the trajectory of the Text Analytics Market .

- Recommendations to companies for strengthening their foothold in the Text Analytics Market .

The research includes historic data from 2016 to 2022 and forecasts until 2027 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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