Text Analytics Market to reach USD 52.21 Bn at a CAGR of 18.9 percent by 2030- Says Maximize Market Research

Maximize Market Research, a leading IT & Telecommunication business consultancy and research firm has published a report on the "Text Analytics Market". The total market opportunity for the Text Analytics Market was USD 15.54 Bn in 2023 and is expected to grow at a CAGR of 18.9 percent through the forecast period, reaching USD 52.21 Bn by 2030. The Text Analytics Market size was estimated meticulously by using a bottom-up approach.

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Text Analytics Market Scope and Research Methodology

Market Size in 2023: USD 15.54 Bn
Market Size in 2030: USD 52.21 Bn
CAGR: 18.9 Percent
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 222
No. of Tables: 137
No. of Charts and Figures: 184

Segment Covered: By Component, Deployment Model, Application, Industry

Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America

Report Coverage: Market Share, Size and Forecast by Revenue | 2023-2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players' Market Ranking Analysis.

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Maximize Market Research has published an exclusive research report titled "Global Text Analytics Market Size, Share, Pricing, Trends, Growth, Opportunities, and Forecast 2023-2030," that analyzes the Text Analytics Market on a global scale. The report provides crucial information about the target market, including regional analysis, key drivers, restraints, opportunities, and threats. It also offers insights into the prominent companies operating in the market, financials, key developments, technological innovations, as well as future strategies, acquisitions, and mergers. While examining historical and future growth trends to provide a global perspective on the market, the report segments the text analytics industry based on component, deployment model, application and industry.

The primary objective of this research report is to assist industry professionals in the global Text Analytics Market by examining market developments and market position, identifying investment opportunities, and focusing on key market drivers. This research studies emerging business entrepreneurs, their strategies, and product developments that are driving the popularity of their offerings in both domestic and global markets. Further, the report outlines essential tactics for capitalizing on opportunities and mitigating potential threats over the next decade.

Various research methodologies, including primary research, secondary research, bottom-up approaches, SWOT analysis, Porter's Five Forces analysis, and more, have been employed to study the Text Analytics market.

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Text Analytics Market Overview

Text Analytics is an automated process of retrieving meaningful insights from unstructured textual data to understand the pattern and trends of that information. This unstructured data generally comes from social media channels, emails, consumer reviews, etc and companies analyse this data to derive insights and implement them to enhance their business model. Technological advancements such as AI, NLP, innovative solutions by companies are fueling the text analytics market growth over the forecast period. The major applications are seen in customer experience management, government sectors, document management and other sectors over the forecast period. Of these, the customer experience management segment accounted the largest market share of text analytics market in 2023, as businesses are focusing on consumer feedbacks for any particular product or service to identify any issues and avoid the occurrence of errors again. The presence of well-established players in the market imposes high competition by strategic mergers and partnerships to introduce innovative text analytics solutions.

Text Analytics Market Dynamics

The demand for text analytics is majorly driven by digitization and shift of companies towards implementing consumer-oriented solutions by understanding consumer preferences and choices for any product or service. Technological advancements in artificial intelligence, natural language processing and machine learning are making processes easier with minimum human intervention, thus reducing the possibility of errors. The security concerns with data and cost effectiveness of integrating text analytics tools are some of the text analytics market challenges over the forecast period.

𝐅𝐨𝐫 𝐚 𝐝𝐞𝐞𝐩𝐞𝐫 𝐮𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠, 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤: https://www.maximizemarketresearch.com/market-report/global-text-analytics-market/16089/

Text Analytics Market Regional Insight

The North America text analytics market held the largest market share in 2023 as data driven decisions are made across banking, healthcare, retail and IT industries to obtain insights from unstructured textual data. The presence of key players such as Clarabridge, IBM, Microsoft Corporation are boosting the growth of the region as these companies are implementing innovative text analytics solutions to fulfil the demand by various industries. The US text analytics market is a major factor driving the growth of the region due to digitization and a developed technological background. The Asia-Pacific text analytics market is experiencing a steady growth by increasing awareness and adoption of advanced technologies across healthcare, banking, finance, retail and telecommunication industries.

Text Analytics Market Segmentation

By Component

• Software
• Service

By Deployment Model

• On premises
• Cloud based

By Application

• CEM
• Government risk & compliance
• Document Management
• Others

By Industry

• Banking & Finance
• Telecommunication & IT
• Healthcare
• Others

Text Analytics Manufacturers include:

1. IBM
2. SAS Institute
3. Microsoft Corporation
4. SAP SE
5. Google LLC
6. Amazon Web Services, Inc
7. Clarabridge
8. OpenText Corporation
9. RapidMiner
10. KNIME
11. Lexalytics
12. Expert System
13. Averbis
14. Bitext
15. Angoss Software Corporation
16. Luminoso Technologies, Inc.
17. MeaningCloud
18. Megaputer Intelligence
19. Altair Engineering, Inc.
20. MonkeyLearn

Key questions answered in the Text Analytics Market are:

• What is text analytics?
• What is the current growth rate of the Text Analytics Market?
• Who are the key players in the Text Analytics Market?
• What are the factors affecting growth in the Text Analytics Market?
• Who held the largest market share in the Text Analytics Market?
• What is the demand pattern for the Text Analytics Market?
• What are the key trends in the Text Analytics Market?
• What are the strategies used by competitors in the Text Analytics Market?
• What are the growth prospects in developing countries for the Text Analytics Market?
• Which segment is expected to witness the fastest growth and why in the Text Analytics Market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by Different Segment | 2023-2030
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation - A detailed analysis by Component, Deployment model, Application, Industry and Region
• Competitive Landscape - Profiles of selected key players by region in a strategic perspective
 Competitive landscape - Market Leaders, Market Followers, Regional player
 Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

Maximize Market Research is leading Energy & Power research firm, has also published the following reports:

Smart cities market size was valued at USD 521.01 billion in 2022, and is expected to reach USD 1,291.75 billion by 2029, exhibiting a CAGR of 13.85 % during the forecast period (2023-2029)

Management Decision Market size was valued at USD 6.83 Bn. in 2022, Software Component is the dominating segment in the Management Decision Market.

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Pune Banglore Highway, Narhe,
Pune, Maharashtra 411041, India
sales@maximizemarketresearch.com
+91 9607365656

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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