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Content Analytics Market - Driven by Rising Competition in Services Industry
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The content analytics market has been experiencing massive growth in the recent years due to increasing demand for advanced analytics and competitive intelligence and high adoption in small and medium enterprises to enhance productivity of the organizations. Emergence of multilingual text analytics to break the language barrier and increasing demand for cloud based content analytics is expected to drive the market in near term. However, lack of end use awareness and software handling complexities is hindering the market growth. Convergence of text analytics with big data and demand for real time content analytics is expected to create huge opportunities for the companies operating in global content analytics market.
The global content analytics market is segmented on the basis of deployment type, application, services, end-users and geography. Based on the deployment type, the market is classified into on-premise, cloud and hybrid. Among these, the cloud deployment type is expected to show sustainable growth during forecast period due to low cost and lesser deployment complexity. Moreover, the segment is expected to maintain its dominancy throughout the forecast period due to high adoption in small enterprises enabling them to collect and analyze data easily, thus improving customer services. On the basis of application, the market is classified into text analytics, web analytics, speech analytics, social media analytics and others. Based on the service type, the global market is classified into consulting, integration and design, and support and maintenance. In terms of end-users, the market for content analytics is segmented into Banking, Financial Services and Insurance (BFSI), education, energy and utilities, sports and gaming, government, healthcare and life science, IT and telecommunication, manufacturing, media and entertainment, and transportation and logistics.
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On the basis of geography, the global content analytics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these, North America is expected to lead the content analytics market during the forecast period due to the increasing analysis of content in the form of text, images, and videos in retail & consumer goods, BFSI, IT & telecom, and healthcare verticals. However, Asia Pacific is expected to show high growth potential for content analytics market due to rapid digitalization in countries such as Japan, China, Korea, India, Indonesia, The Philippines, and Vietnam. Moreover, Middle East & Africa (MEA) and Latin America is expected to tender growth opportunities owing to the demand from organizations to integrate content analytics to gain customer insights.
Some of the leading companies operating in the global content analytics market with significant developments include SAP SE, SAS Institute, Inc., Oracle Corporation, Adobe Systems, Inc., Clarabridge, Inc., Interactive Intelligence Group, Inc., Opentext Corporation, Verint Systems, Nice Systems Ltd. and International Business Machines (IBM) Corporation.
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