Primary Catalyst Driving Text Mining Market Evolution in 2025: Digitization Trends Fuels Growth In The Text Mining Market Expansion Driver

What market dynamics are playing a key role in accelerating the growth of the text mining market?
The text mining market is predicted to expand owing to the increasing trend of digitization. Essentially, digitization involves transforming analog information into a digital format that can be stored and processed on computers and other digital devices, usually represented in binary form. The continued growth of digitization is attributed to its capacity to streamline operations, improve connectivity, and provide easy access to information in different sectors. It also enhances the efficiency of text mining by transmuting analog data into machine-readable formats, therefore aids in sophisticated analysis and extracting important insights from text-based content. For instance, the Central Digital and Data Office in the U.K. reported a remarkable 19% growth in the government's digital and data profession from April 2022 to April 2023. This positive development is fulfilling significant demand for digital expertise, thus, showing that the increasing trend of digitization is promoting the growth of the text mining market.

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How will the growth rate of the text mining market shape industry trends by 2034?
The market size of text mining has seen a considerable expansion in the last few years. The industry is predicted to increase from $7.05 billion in 2024 to $8.51 billion in 2025, boasting a compound annual growth rate (CAGR) of 20.7%. Various factors such as the rising need for data-based decision-making across various sectors, the refinement of machine learning algorithms, the coupling of text mining with customer relation management (CRM) systems, regulatory obligations, the rise of sentiment analysis, and the implementation of text mining for fraud detection and risk management have contributed to the growth in the historic period.

Expectations are high for the text mining market to experience significant growth over the incoming years. It is projected to surge to $17.82 billion by 2029, enjoying a compound annual growth rate (CAGR) of 20.3%. Several factors contributing to this predicted expansion include the rising need for effective data extraction and analysis from non-structured text sources, the growing industries, the merger of text mining with other data analytic applications for broad insights, an increasing focus on customer experience management and customization, and increasing enterprise awareness and big data analytics growth. Major trends expected within this projection period range from text classification and topic modelling to contextual understanding, multilingual text mining, and progress in deep learning.

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What trends are poised to drive the future success of the text mining market?
Key players in the text mining market are focusing on the development of sophisticated technologies such as advanced natural language processing to strengthen their market position. The importance of advanced natural language processing arises from its ability to enhance text mining capacity by offering more accurate, efficient, and subtle interpretations of textual information. For example, in May 2023, ONTOFORCE NV, a data science company located in Belgium, introduced its advanced Natural Language Processing (NLP) capabilities to extract valuable insights from unstructured data in the life sciences field. This move coincides with the growing significance of NLP in the industry where unstructured data accounts for approximately 80% of data storage, thereby complicating data access and analysis.

Which primary segments of the text mining market are driving growth and industry transformations?
The text mining market covered in this report is segmented -

1) By Product: On-premise, Cloud-based
2) By Application: Data Analysis And Forecasting, Fraud Or Spam Detection, Intelligence And Law Enforcement, Customer Relationship Management (CRM), Text Mining For Natural Language Processing (NLP), Text Mining For Sentiment Analysis
3) By End-Use: Healthcare, Retail, Banking, Financial Services And Insurance (BFSI), Government, Media And Entertainment, Other End Users

Subsegments:
1) By On-Premise: Local Deployment, Customization Options, Data Security And Privacy Control
2) By Cloud-Based: Scalable Infrastructure, Remote Access And Collaboration, Integration With Cloud Applications

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North America was the largest region in the text mining market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the text mining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the influential players reshaping the text mining market landscape?
Major companies operating in the text mining market are Microsoft Corporation, International Business Machines Corporation, SAP SE, Capgemini SE, SAS Institute, Confirmit, Basis Technology, Kingland Systems LLC, KNIME, Altair Engineering Inc., RapidMiner, Bitext, Mozenda, InMoment, Semantic Web Company GmbH, Wonderflow, PrediCX, NextWealth Entrepreneurs Private Limited, Angoss Software Corporation, Averbis GmbH, Netowl Inc., MeaningCloud, DeepOpinion, Funnel Science, SmatSocial

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What Is Covered In The Text Mining Global Market Report?

•Market Size Forecast: Examine the text mining market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the text mining market for a structured understanding.
•Key Players Overview: Analyze major players in the text mining market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the text mining market.
•Segment Contributions: Evaluate how different segments drive overall growth in the text mining market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the text mining market.
•Industry Challenges: Identify potential risks and obstacles affecting the text mining market.
•Competitive Landscape: Review strategic developments in the text mining market, including expansions, agreements, and new product launches.

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