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(I-SoftwareNews.Com, October 11, 2018 ) The global Text Analytics Market is estimated to grow at a CAGR of 24.2% during the forecast period 2017 - 2025 and accounts for US$ 18.28 Bn in the year 2025. The global text analytics market was valued at US$ 2.59 Bn in 2016 and is estimated to reach US$ 18.28 Bn by 2025. The report highlights the trends prevalent in the global text analytics market and the factors driving the market along with those that act as deterrents to its growth.
Reason to Buy:
Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the text analytics market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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Leading Market Players :
The key players profiled in the report are IBM Corporation, SAP SE, SAS Institute Inc., Clarabridge, Expert Systems, OpenText Corp., Basis Technology, Linguamatics, ANGOSS SOFTWARE CORPORATION and KNIME.
The use of analytics in the telecom sector is projected to improve the visibility into core operations, internal processes and market conditions, detect trends establish forecasts. With this, the companies can collect comments from the customers from any source virtually, apply powerful predictive analytic techniques, and automatically extract the important information, to identify key issues and trigger meaningful change. Text analytics has been used by government agencies for a variety of purposes. Most of the organizational data (almost 80%) are unstructured such as freeform text from field reports, forms, abstracts, notes, comments, emails, social media and other sources. Dealing with this unstructured data is one of the biggest challenge that the government agencies are facing. With the use of text analytics, the agencies can perfectly estimate identify unmet needs, public sentiment, influence opinion, identify hidden risks, shape policy, and stop fraud and collusive crime, and more.
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The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the Text Analytics industry.
Text Analytics market is expected to grow US$ 18.28 Bn by 2025 from US$ 2.59 Bn in 2016. The global text analytics market is primarily driven by increase in the volume of unstructured data. Increasing utilization of social media platforms, consumer shifting trends towards online buying and increasing digitalization are some of the factors contributing to increase in unstructured data. Analysis of unstructured data can uncover key patterns capable of forming the basis of decision making in various organizations. Traditionally, the data is analyzed by an individual which becomes ineffective as the volume of data increases. This necessitates use of text analytics software capable of handling large volume of data set capable of finding hidden patterns which assist in decision making purpose. Moreover, companies are able to exploit only 30% of unstructured data generated, this low percentage represents significant opportunity for vendors to develop analytical solutions featured with advanced capabilities including machine learning, NLP and language support.
Table of Content:
2 The Insight Partners Research Report Guidance
3 Key Takeaways
4 Market Landscape
4.1 Market Overview
4.2 Market Segmentation
4.2.1 Global Text Analytics Market - By Deployment Model
4.2.2 Global Text Analytics Market - By Technology
4.2.3 Global Text Analytics Market - By Application
4.2.4 Global Text Analytics Market - By Verticals
4.2.5 Global Text Analytics Market - By Geography
4.3 PEST Analysis
4.3.1 North America PEST Analysis
4.3.2 Europe PEST Analysis
4.3.3 Asia Pacific PEST Analysis
4.3.4 Middle East and Africa PEST Analysis
4.3.5 South America PEST Analysis
5 Global Text Analytics Market - Key Industry Dynamics
The Insight Partners