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Global Sentiment Analytics Systems Market Expected to Achieve 28.8% CAGR by 2029: Growth Forecast Insights
Sentiment Analytics Systems
What Is the Expected CAGR for the Sentiment Analytics Systems Market Through 2025?
The market size of sentiment analysis systems has seen rapid expansion in the past few years. It is anticipated to increase from $3.26 billion in 2024 to $4.27 billion in 2025, marking a compound annual growth rate (CAGR) of 31.3%. The notable growth in the historical period is largely due to its wide usage in the healthcare sector for analyzing patient feedback, its implementation in government bodies to monitor public sentiment, the creation of sentiment analysis platforms for business solutions, the surge in applications of sentiment analysis for sentiment-aware advertising, and the employment in government agencies to keep track of citizen sentiments.
What's the Projected Size of the Global Sentiment Analytics Systems Market by 2029?
The market size for sentiment analytics systems is predicted to witness substantial expansion in the coming years, ballooning to a valuation of $11.76 billion in 2029 at a CAGR of 28.8%. This anticipated growth during the projection period results from a surge in demand for real-time sentiment analysis, heightened utilization in social media monitoring, advances in NLP, and its application in political campaigns for voter sentiment tracking. Noteworthy trends during the forecast period comprise integration into CRM systems, technological progression, growth in sentiment analysis APIs, broadening usage of sentiment analysis in gauging employee sentiment, and the uptake of sentiment analysis tools in financial markets.
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Top Growth Drivers in the Sentiment Analytics Systems Industry: What's Accelerating the Market?
The sentiment analytics systems market expansion is anticipated to be spurred by the burgeoning utilization of social media monitoring. Social media monitoring involves assessing, tracking, and responding to discussions, mentions, and dialogues related to a specific brand, product, or subject matter on a variety of social media channels. Social media monitoring is gaining traction due to its capacity to offer instantaneous insights into consumer habits, market patterns, and public opinion about a brand. This allows businesses to make choices based on data and strengthen their online visibility. Sentiment analytics systems equip companies with the ability to effectively interpret and utilize public opinion, thus enhancing their social media monitoring tactics. For example, Backlinko, a renowned SEO expert based in the U.S., reported in February 2024 that Facebook's growth rate for daily active users rose from 4.4% in 2022 to 5.1% YoY. Consequently, the adoption of social media monitoring is a major catalyst for the growth of the sentiment analytics systems market.
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What Trends Will Shape the Sentiment Analytics Systems Market Through 2029 and Beyond?
Prominent corporations in the sentiment analytics systems market are emphasizing advancements like AI-fueled sentiment examinations to enhance the user experience and optimization within enterprises. An AI-driven sentiment analysis tool, essentially a software application or service, employs artificial intelligence methodologies, especially natural language processing (NLP), to scrutinize text data and interpret the sentiment or emotional context evidenced in the text. For example, in July 2022, Userlytics Corporation, an American global leader in the field, incorporated Amazon's AI-powered sentiment analysis into their offerings. The integration of Amazon's AI-driven sentiment analysis into the international UX research platform empowers clients to obtain qualitative understandings of the user experience. The UX design consulting service offered by the platform aids in diagnosing design issues and formulating customized solutions, embracing UX principles across IoT, machine learning, and AI use cases.
What Are the Main Segments in the Sentiment Analytics Systems Market?
The sentiment analytics systemsmarket covered in this report is segmented -
1) By Type: Cloud-Based, On-Premise
2) By Deployment Model: Private, Public, Hybrid
3) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprises
4) By Application: Banking, Financial Services, And Insurance (BFSI), Healthcare And Life Sciences, Education, Media And Entertainment, Retail, Government, Transportation And Logistics, Other Applications
Subsegments:
1) By Cloud-Based: SaaS (Software As A Service) Solutions, Cloud-Hosted Analytics Platforms, AI-Powered Cloud Solutions
2) By On-Premise: On-Premise Software Solutions, Customizable In-House Sentiment Analytics Systems
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Which Top Companies are Driving Growth in the Sentiment Analytics Systems Market?
Major companies operating in the sentiment analytics systems market report are Amazon Web Services Inc.; Google LLC; Microsoft Corporation; International Business Machines Corporation; Oracle Corporation; Salesforce Inc; Adobe Inc.; Twilio Inc.; Splunk Inc.; SAS Institute Inc.; SAP SE; NICE Ltd.; Qualtrics; Nuance Communications Inc.; Medallia Inc.; Verint Systems Inc.; Sprinklr Inc.; Cision Ltd.; Zoho Corporation Pvt. Ltd.; Sprout Social Inc.; Emplifi Inc.; Quid; Meltwater; Lexalytics Inc.; MonkeyLearn Inc.
Which Regions Will Dominate the Sentiment Analytics Systems Market Through 2029?
North America was the largest region in the sentiment analytics systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sentiment analytics systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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