TEXT ANALYTICS MARKET ANALYSIS

Text Analytics Market by Deployment Model (Cloud, On-Premises), Application (Competitive Intelligence, Customer Relationship Management, Predictive Analytics, Fraud Detection and Brand Reputation), Organization Size (Small and Medium Enterprises and Large Enterprises), End Users (Banking, Financial Services, Insurance, Retail, E-Commerce, Telecommunications and Information Technology), and Geography - Global Trends and Forecast to 2025

Published In : Sep 2017
Code : CMI833
Pages :173
Formats :
Excel and PDF
Industry : Information and Communication Technology

Text Analytics MarketSize and Trends

Rising demand for social media content insights has been the major drivers for the growth the global text analytics market.

Factors such as stiff competition among giant companies to understand the market trends and meet customers’ expectation are increasingly boosting growth in text analytics market across the world. Text analytics give relevant data which helps in understanding real insights of particular market. Text analytics generally extract data in the form of comments, posts, tweets, photos, and many more, which in turn helps companies to extract the real insights regarding customer experience, product description and others.

Moreover, huge amount of data present on social media fuels demand for text analytics in various organizations. Facebook, Instagram, YouTube, LinkedIn are some of the major players of social media industry. For instance, in one minute around 27,000 videos are viewed on You Tube, around 3 million posts are shared on Facebook, nearly 430,000 tweets are posted on Twitter, and around 120 new users are registered on LinkedIn. Hence, increasing data on social media channel fuels the demand of the text analytics market.

The global text analytics market was valued at US$ 3,031.5 million in 2016 and is estimated to witness a CAGR of 17.7% over the forecast period.