Text Analytics Market Size, Latest Trends, Growth Status, Top Major Players And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Text Analytics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=5971&type=smp

According to The Business Research Company's, The text analytics market size has grown rapidly in recent years. It will grow from $9.35 billion in 2023 to $11.09 billion in 2024 at a compound annual growth rate (CAGR) of 18.6%. The growth in the historic period can be attributed to data explosion, demand for actionable insights, customer experience enhancement, regulatory compliance, competitive intelligence.

The text analytics market size is expected to see rapid growth in the next few years. It will grow to $22.88 billion in 2028 at a compound annual growth rate (CAGR) of 19.8%. The growth in the forecast period can be attributed to industry-specific solutions, multilingual text analytics, predictive analytics and forecasting, automated report generation. Major trends in the forecast period include focus on explainability in ai models, voice-to-text analytics, multilingual text analytics, integration of artificial intelligence and machine learning, automation in text summarization, conversational ai and chatbot enhancement.

Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/text-analytics-global-market-report

Market Drivers and Trends:

The growing demand for social media analytics Is contributing to the growth of the text analytics market. 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. For instance, according to Sprout Social data 2021, globally, over 3.6 billion people are using social media and the number is projected to increase to 4.41 billion in 2025. Additionally, according to the study published by the Content Marketing Institute, more than 81% of organizations across the globe are utilizing social media publishing/analytics tools, and the utilization of content creation/collaboration/workflow tools has increased from 48% in 2019 to 58% in 2020. This growing demand for social media analytics is expected to boost the growth of the text analytics industry during the forecast period.

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:

International Business Machines 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., Megaputer Intelligence Inc., Oracle Corporation, TIBCO Software Inc., Bitext Innovations SL, Basis Technology Corporation, MeaningCloud LLC, KNIME. com AG, Averbis GmbH, bizAmica Software Pvt. Ltd., Kingland Systems, Capgemini SE, NICE Ltd., Verint Systems Inc., Amazon Web Services Inc., Expert System S. p. A., Aylien Ltd., Provalis Research, Linguamatics Ltd.

Text Analytics Market 2024 Key Insights:

• The text analytics market size is expected to see rapid growth in the next few years. It will grow to $22.88 billion in 2028 at a compound annual growth rate (CAGR) of 19.8%.
• Rising Demand For Social Media Analytics Drives Text Analytics Market Growth
• Text Analytics Market Sees Surge In Technological Innovation As Kensho Communications Launches Cutting-Edge Nerd Solution
• North America was the largest region in the text analytics market in 2023

We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=5971&type=smp

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.