Press release
Demand for Insight on Consumer Behavior to Propel Text Analytics Market
According to the report, the global market for text analytics is expected to exhibit a vigorous 17.6% CAGR over the forecast duration between 2015 and 2024. The market was valued at US$2.82 bn in the year 2015, and is anticipated to reach US$12.16 bn by the end of 2024.
Due to its Flexibility, Cloud Based Solutions Segment to get a Boost
Predominantly, enterprises prefer use of on-premise solutions on account of the safety and added security that this segment offers. Keeping business critical data secured is important for most IT and related companies. Hence cloud solutions being cost effective and flexible are gaining traction in the industry. There is a huge number of enterprises that want to shift toward use of cloud based solution for their data, and the market participants can turn this demand into fruitful opportunity.
In 2015, almost 84% of the consumers of text analytics solutions opted for on-premise deployment, and the dominance of the segment is expected to carry on over the period of forecast. Meanwhile, a large number of are predicted to show interest in cloud based solutions, which will drive the popularity of the cloud-based deployment market segment.
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Popularity of Social Media to Offer Rich Market Opportunity
Web-based social networking has caught the consideration of purchasers, attributable to the benefits of social media, online shopping and communication. These components empowered organizations to embrace text analytics and comprehend consumer conduct designs for various products. Further, text analytics likewise empowers organizations to assemble and translate information from online networking for arranging effective advertising efforts.
This technology is still in its incipient stage, and creating compelling information, its collection and metadata service approaches may help enhance the innovation adequacy, and propel the text analytics showcase development over the coming years. Furthermore, growing demand of text analytics instruments into analytics programming devices to enable enterprises to break down information is likewise anticipated to fuel the rise of the overall market. However, exorbitant spending on investigative programming and absence of awareness among people may represent a test to the text analytics market growth.
The data and information presented in this review are based on a TMR report titled as “Polyacrylamides Market (Type - Anionic, Cationic, and Non-ionic; Form - Powder, Emulsion, and Gel; Application - Waste Water Treatment, Oil & Gas Extraction, Mining, Agriculture, Paper & Pulp, Paints & Coatings, Textiles, and Food) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025”
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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