Press release
Sentiment Analytics Market Share (CAGR of 14.80%) | Adoreboard, IBM, SAS Institute, Crowdflower, Brandwatch, Twizoo
Sentiment Analytics Market Overview:
The demand for sentiment analytics solutions is on the rise, with the Sentiment Analytics market industry is projected to grow from USD 3.6 Billion in 2023 to USD 10.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.80% during the forecast period (2023 - 2032).
The increasing demand for AI chatbots across various verticals, such as BFSI, retail, and healthcare, is anticipated to drive the demand for sentiment analytics, as it enables chatbots to understand customers' feelings and respond accordingly. Furthermore, the rising adoption of innovative technologies and the growing need for real-time insights are contributing to the increasing demand for sentiment analytics. The market is witnessing substantial revenue share obtained by small and medium-sized businesses, which utilize sentiment analytics to provide dynamic data and forecasts future events with the use of predictive analytics.
Additionally, sentiment analysis is finding numerous applications in e-commerce, marketing, advertising, politics, and market research, further driving the demand for sentiment analytics solutions. Overall, the sentiment analytics market is witnessing significant demand and growth, driven by the increasing adoption of artificial intelligence solutions and the rising popularity of sentiment analysis across various industries.
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Key Companies in the Sentiment Analytics market include,
Adoreboard
IBM
SAS Institute
Crowdflower
Brandwatch
Twizoo
Angoss Sentiment Corporation
Clarabridge
Aylien
Market Growth and Demand:
The sentiment analytics market size is projected to witness significant growth over the forecasted period, driven by the increasing demand for AI chatbots across various verticals and the growing need for real-time insights.
The market is witnessing substantial growth, with the global sentiment analytics software market report providing a holistic evaluation of key segments, trends, drivers, and factors playing a substantial role in the market.
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Market Impact:
Sentiment analytics is finding applications in various aspects of business, including brand monitoring, product analytics, customer service, and market research. Leading brands are incorporating sentiment analytics into their systems to work faster and with more accuracy towards more useful ends.
The sentiment analytics market is witnessing substantial revenue share obtained by small and medium-sized businesses, which utilize sentiment analytics to provide dynamic data and forecasts future events with the use of predictive analytics.
Regional Dominance:
The Asia Pacific region dominated the sentiment analytics market in 2022, This dominance is attributed to the rising popularity of social media platforms and the region's fast-expanding digitalization.
North America is expected to register significant growth from 2023 to 2032, indicating a promising trajectory for the sentiment analytics market in this region.
Asia-Pacific is expected to be the region with the highest growth in the sentiment analytics market due to factors such as rising competition among businesses, rapid digitalization, and increasing brand awareness and image in the region.
In conclusion, the sentiment analytics market is experiencing robust growth, with the Asia Pacific region leading in market dominance and significant opportunities for expansion in North America and other regions. The increasing demand for real-time insights and the adoption of sentiment analytics across various industries are driving the market's growth.
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