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Text Analytics Market Analysis 2023: Market Growth Rate, Competitive Landscape And Top Opportunities
Text Analytics Market
The Business Research Company's Text Analytics Global Market Report 2023 identifies growing demand for social media analytics as the major driver for the Text Analytics market's growth in the forecast period. Social media analytics is the approach of collecting data from social media sites and blogs and evaluating the data for the purpose of making business decisions. The rapid growth of social media and the growing demand for analytical solutions to foster their decision-making capabilities have increased the adoption of different text analytics techniques such as sentiment analysis, event detection, and others.
The global text analytics market size will grow from $8.09 billion in 2022 to $9.64 billion in 2023 at a compound annual growth rate (CAGR) of 19.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the text analytics is expected to grow to $19.75 billion in 2027 at a CAGR of 19.6%.
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Major competitors in the Text Analytics market are IBM Corporation, Microsoft Corporation, SAP SE, SAS Institute Inc., Lexalytics Inc., Luminoso Technologies Inc., Clarabridge Inc.
A key trend in the Text Analytics market includes technological innovation. The companies operating in the text analytics market are focusing on developing innovative and advanced solutions to meet the specific demands of niche customer sectors across the globe. In March 2021, Kensho Communications, an Oman-based agency for marketing and communications, announced the launch of Kensho NERD (Named Entity Recognition and Disambiguation), a machine-learning system that finds entities mentioned in documents, newsfeeds, or other text and links each to a matching record in a database to fully exploit textual data.
Read More On The Global Text Analytics Market Report Here:
https://www.thebusinessresearchcompany.com/report/text-analytics-global-market-report
The Text Analytics market is segmented -
• By Component: Software, Services
• By Deployment: On-premise, Cloud
• By Enterprise Size: Large Enterprises, Small and medium Enterprises (SME's)
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Text Analytics market.
The Business Research Company's "Global Text Analytics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Text Analytics Market Include:
1. Executive Summary
2. Text Analytics Market Characteristics
3. Text Analytics Market Trends And Strategies
4. Text Analytics Market - Macro Economic Scenario
5. Text Analytics Market Size And Growth
…………………………………………………..
26. Africa Text Analytics Market
27. Text Analytics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Text Analytics Market
29. Text Analytics Market Future Outlook and Potential Analysis
30. Appendix
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