Text Analytics Market Reached The Market Value Of US$ 4.63 Bn In 2018

Text Analytics Market Reached The Market Value Of US$ 4.63 Bn In 2018

Text Analytics Market Reached The Market Value Of US$ 4.63 Bn In 2018 And Expected To Grow With CAGR Of 14.35% Across The Forecast Period From 2019 To 2027

According to a new market research report published by Credence Research “ Text Analytics Market (by Component Type – Software and Services; by Deployment Model – Cloud-based and On-premise; by Application Type – Customer Relationship Management, Marketing Management, Competitive  Intelligence, Predictive Analytics, Fraud Management and Workforce management; by End-use Vertical – Banking Financial Services and Insurance (BFSI), Government & Defense, Manufacturing, Healthcare, Retail, Electronics, Media & Entertainment, IT & Telecommunications and Others) Market – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027”, the global text analytics market accounted to hit the market value of US$ 17.82 Bn in 2027 and expected to witness CAGR of 14.35% across the forecast period through 2019 to 2027.

Browse the full report at https://www.credenceresearch.com/report/text-analytics-market

Market Insights

In recent times, businesses have started using automation for operational intelligence as well as organizations are relying on machines to read, interpret in real time. Real-time streaming analytics enhances data efficiency and enables organizations to act more rapidly. Text analytics enable to economically review and analyze the large volume of unstructured text content. Text analytics plays vital role across several business applications such as quantifying customer feedback, detecting & tracking service as well as quality issues, improving operational processes, assessing risk and enhancing predictive models among several others.

Rapidly growing number of smart devices and reliance on Internet of Things (IoT) are seeking for rapid processing capabilities, edge computing, cloud adoption and embedded analytics. Text models for document categorization, concept extraction and sentiment analysis are deployed to gain real-time insights as well as to support decision making process. Big data is gathered in unstructured formant from various sources such as social media, bank transactions, sensor reading, logs and several others. Text analytics focuses on deployment of text models to assess market impact & intelligently respond to data streams as it arrives.

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Overall text analytics market segmented on the basis of component, deployment model, application type and end-use vertical. In 2018, retail segment accounted for the lion share in the market. Nowadays, retailers have started adopting strong analytic capabilities designed to address structured data, such as data visualization, basic queries, data mining and predictive modeling. Penetration of simulation, natural language text analytics, geospatial analytics, streaming analytics, and video & voice analytics is higher in retail segment compared to counterparts.

North America accounted for the largest market for text analytics in 2018 followed by Europe, primarily due to rapidly growing adoption for Artificial Intelligence (AI) technology across almost all end-use verticals. The U.S. encompasses the presence of majority of key players such as, Clarabridge, Inc., International Business Machines (IBM) Corporation, SAS Institute, Inc., Lexalytics, Inc. and Bitext Innovations S.L. among several others.

Competitive Insights:

Major players in the text analytics market include OpenText Corporation, RapidMiner, Inc., International Business Machines (IBM) Corporation, Lexalytics, Inc., Algolia, SAP SE, SAS Institute, Inc., Knime AG, Bitex Innovations S.I., Clarabridge, Inc., Averbis, Lavastorm Analytics, Infegy, Inc., Megaputer Intelligence, Inc., LuminosoTechnologies, Inc., Meaningcloud LLC, EpiAnalytics and Medallia, Inc. among others. The text analytics market players are aiming for partnerships & acquisitions as well as technology development activities to establish in the new market.

For instance, in January 2019, OpenText Corporation acquired the Catalyst Repository Systems, Inc. This is expected to enable law firms and corporate legal departments to seize the opportunities of digital transformation & automation. Similarly, in May 2018, Clarabridge, Inc. announced the updates of suite of CX products. This AI powered text analytics advancement expected to enable organizations to make rapid business decisions based on customer feedback thereby driving brand loyalty.

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TOC:

  1. Global Text Analytics Market, by Component Type, 2017 – 2027 (US$ Bn)
    4.1. Overview
    4.2. Software
    4.3. Services
  2. Global Text Analytics Market, by Deployment Model, 2017 – 2027 (US$ Bn)
    5.1. Overview
    5.2. Cloud Based Deployment
    5.3. On-premise Deployment
  3. Global Text Analytics Market, by Application Type, 2017 – 2027 (US$ Bn)
    6.1. Overview
    6.2. Customer Relationship Management
    6.3. Marketing Management
    6.4. Competitive Intelligence
    6.5. Predictive Analytics
    6.6. Fraud Management
    6.7. Workforce Management
  4. Global Text Analytics Market, by End-use Vertical, 2017 – 2027 (US$ Bn)
    7.1. Overview
    7.2. Banking, Financial Services and Insurance (BFSI)
    7.3. IT & Telecommunication
    7.4. Government & Defense
    7.5. Manufacturing
    7.6. Healthcare
    7.7. Retail
    7.8. Electronics
    7.9. Media & Entertainment
    7.10. Others
  5. North America Text Analytics Market Analysis, 2017 – 2027 (US$ Bn)
    8.1. Overview
    8.2. North America Text Analytics Market Value, 2017 – 2027 (US$ Bn)
    8.3. North America Text Analytics Market, by Component Type, 2017 – 2027 (US$ Bn)
    8.4. North America Text Analytics Market, by Deployment Model, 2017 – 2027 (US$ Bn)
    8.5. North America Text Analytics Market, by Application Type, 2017 – 2027 (US$ Bn)
    8.6. North America Text Analytics Market, by End-use Vertical, 2017 – 2027 (US$ Bn)
    8.7. North America Text Analytics Market, by Country/Region, 2017 – 2027 (US$ Bn)
    8.7.1. U.S.
    8.7.1.1. U.S. Text Analytics Market, by Component Type, 2017 – 2027 (US$ Bn)
    8.7.1.2. U.S. Text Analytics Market, by Deployment Model, 2017 – 2027 (US$ Bn)
    8.7.1.3. U.S. Text Analytics Market, by Application Type, 2017 – 2027 (US$ Bn)
    8.7.1.4. U.S. Text Analytics Market, by End-use Vertical, 2017 – 2027 (US$ Bn)
    8.7.2. Rest of North America
    8.7.2.1. Rest of North America Text Analytics Market, by Component Type, 2017 – 2027 (US$ Bn)
    8.7.2.2. Rest of North America Text Analytics Market, by Deployment Model, 2017 – 2027 (US$ Bn)
    8.7.2.3. Rest of North America Text Analytics Market, by Application Type, 2017 – 2027 (US$ Bn)
    8.7.2.4. Rest of North America Text Analytics Market, by End-use Vertical, 2017 – 2027 (US$ Bn)
  6. Europe Text Analytics Market Analysis, 2017 – 2027 (US$ Bn)
    9.1. Overview
    9.2. Europe Text Analytics Market Value, 2017 – 2027 (US$ Bn)
    9.3. Europe Text Analytics Market, by Component Type, 2017 – 2027 (US$ Bn)
    9.4. Europe Text Analytics Market, by Deployment Model, 2017 – 2027 (US$ Bn)
    9.5. Europe Text Analytics Market, by Application Type, 2017 – 2027 (US$ Bn)
    9.6. Europe Text Analytics Market, by End-use Vertical, 2017 – 2027 (US$ Bn)
    9.7. Europe Text Analytics Market, by Country/Region, 2017 – 2027 (US$ Bn)
    9.7.1. U.K.
    9.7.1.1. U.K. Text Analytics Market, by Component Type, 2017 – 2027 (US$ Bn)
    9.7.1.2. U.K. Text Analytics Market, by Deployment Model, 2017 – 2027 (US$ Bn)
    9.7.1.3. U.K. Text Analytics Market, by Application Type, 2017 – 2027 (US$ Bn)
    9.7.1.4. U.K. Text Analytics Market, by End-use Vertical, 2017 – 2027 (US$ Bn)
    9.7.2. Germany
    9.7.2.1. Germany Text Analytics Market, by Component Type, 2017 – 2027 (US$ Bn)
    9.7.2.2. Germany Text Analytics Market, by Deployment Model, 2017 – 2027 (US$ Bn)
    9.7.2.3. Germany Text Analytics Market, by Application Type, 2017 – 2027 (US$ Bn)
    9.7.2.4. Germany Text Analytics Market, by End-use Vertical, 2017 – 2027 (US$ Bn)
    9.7.3. France…
  7. Company Profiles
    12.1. Opentext Corporation
    12.2. RapidMiner, Inc.
    12.3. International Business Machines Corporation
    12.4. Lexalytics, Inc.
    12.5. Algolia
    12.6. SAP SE
    12.7. Knime AG
    12.8. Bitext Innovations S.L.
    12.9. Clarabridge, Inc.
    12.10. SAS Institute Inc.
    12.11. Averbis
    12.12. Lavastorm Analytics
    12.13. Infegy, Inc.
    12.14. Megaputer Intelligence, Inc.
    12.15. Luminoso Technologies, Inc.
    12.16. Meaningcloud LLC …

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