The "Global Text Analytics Market Size By Application (Customer experience management, Marketing management), By Organization Size (Large Enterprises and Small and Medium Organizations), By Component (Software and Services), By Geographic Scope & Forecast, 2023-2030" report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Text Analytics Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY, N.J., May 12, 2023 /PRNewswire/ -- The Global Text Analytics Market is projected to grow at a CAGR of 17.32% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 6.87 Billion in 2021 and is expected to reach USD 28.88 Billion by the end of the forecast period.
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Browse in-depth TOC on "Text Analytics Market"
202 - Pages
126 - Tables
37 - Figures
Text Analytics Market to Witness Significant Growth during the Forecast Period, Key Players include IBM Corporation, SAP SE, OpenText Corporation, SAS Institute, Inc., Clarabridge, Inc., Bitext Innovations and Others
The global text analytics market is projected to grow significantly during the forecast period, driven by the increasing use of social media platforms and the rising demand for sentiment analysis services. Text analytics is a powerful tool used to analyze various text content forms, such as emails, blogs, tweets, forums, and others. It can filter out newer information from various text sources and extract valuable insights that are crucial in decision-making. This makes text analytics an essential tool for businesses across various sectors, including marketing, finance, fraud detection, and risk management.
According to a recent market research report, the global text analytics market is expected to grow at a CAGR of 17.32% during the forecast period [2023 to 2030]. The report highlights that the rising use of social media platforms across the globe is estimated to be the primary driving factor for the text analytics market during the forecast period. The increasing number of agencies providing social media monitoring services has led to a surge in the adoption of text analytics for sentiment analysis.
The report also provides a comprehensive analysis of the competitive landscape of the global text analytics market, profiling key players such as IBM Corporation, SAP SE, OpenText Corporation, SAS Institute, Inc., Clarabridge, Inc., Bitext Innovations, and others. The report includes a detailed product benchmarking and SWOT analysis of each player, providing insights into their strengths, weaknesses, opportunities, and threats.
Key market players are focused on developing advanced text analytics solutions to meet the growing demand for sentiment analysis and other text analysis services. For instance, SAS Institute Inc. broadcasted the launches of latest SAS Platform SAS Viya., SAP SE announced the enhancements to the SAP HANA database in the cloud and on premise, Open Text Corporation announced its partnership with Google Cloud.
In conclusion, the global text analytics market is poised to witness significant growth during the forecast period, driven by the rising use of social media platforms and the growing demand for sentiment analysis services. Key market players are focused on developing advanced text analytics solutions to meet the evolving needs of businesses across various sectors.
Based on the research, Verified Market Research® has segmented the global Text Analytics Market into Application, Organization Size, Component, And Geography.
- Text Analytics Market, by Application
- Customer experience management
- Marketing management
- Workforce management
- Governance, risk, and compliance management
- Document management
- Others
- Text Analytics Market, by Organization Size
- Large Enterprises
- Small and Medium Organizations
- Text Analytics Market, by Component
- Software
- Services
- Text Analytics Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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