Text Analytics Market by Component (Software and Services), Deployment Model (On-premises and Cloud), Enterprise Size (Large Enterprises and SMEs), Application (Customer Experience Management, Marketing Management, Governance, Risk, and Compliance Management, Document Management, Workforce Management, and Others), and Industry Vertical (Retail, BFSI, Travel & Hospitality, Media & Entertainment, Healthcare, IT & Telecom, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
Text analytics is the process of converting the unstructured text data into meaningful data. This analytical software offers solutions which provides tools, servers, analytic algorithm-based applications, data mining and extraction tools for converting data into meaningful resources. This is further utilized in the process of analysis, product review, feedback, to measure customer opinions and entity modeling to support fact-based decision making. Text analytics is applicable for various purposes which includes sentiment analysis, automated ad placement, social media monitoring, competitive intelligence and others.
Growing need for social media analytics and predictive analytics for businesses are boosting the growth of the global text analytics market. In addition, rise in highly customized and industry-specific applications is positively impacts growth of the market. However, lack of awareness, skilled workforce, and other operational challenges and data privacy and security concerns is hampering the market growth. On the contrary, enhancing customer service and competitive intelligence is expected to offer remunerative opportunities for expansion of the market during the forecast period.
The global text analytics market is segmented into component, deployment model, enterprise size, application, industry vertical, and region. By component, the market is bifurcated into software and services. On the basis of deployment model, it is categorized into on-premises and cloud. Depending ion enterprise size, the market divided into large enterprises and SMEs. The applications covered in the study include customer experience management, marketing management, governance, risk, and compliance management, document management, workforce management, and others. As per industry vertical, the market is fragmented into retail, BFSI, travel & hospitality, media & entertainment, healthcare, IT & telecom, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the text analytics market analysis are Clarabridge, Inc., IBM, Luminoso Technologies, Inc., Megaputer Intelligence, Inc., Microsoft Corporation, Micro Focus LLC, Open Text Corporation, Oracle Corporation, SAP SE, and SAS. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global text analytics market forecast along with the current & future trends to explain the imminent investment pockets.
Information about key drivers, restraints, & opportunities and their impact analysis on global text analytics market trends is provided in the report.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential.
Key Market Segments
By Component
Software
Services
By Enterprise Model
On-premises
Cloud
By Enterprise Size
Large Enterprises
SMEs
By Application
Customer Experience Management
Marketing Management
Governance, Risk, and Compliance Management
Document Management
Workforce Management
Others
By Industry Verticals
Retail
BFSI
Travel & Hospitality
Media & Entertainment
Healthcare
IT & Telecom
Others
By Region
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Netherlands
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
KEY MARKET PLAYERS
Clarabridge, Inc.
IBM
Luminoso Technologies, Inc
Megaputer Intelligence, Inc
Microsoft Corporation
Micro Focus LLC
Open Text Corporation
Oracle corporation
SAP SE
SAS
List of Company Profiles
Clarabridge Inc.
IBM
Luminoso Technologies, Inc.
Megaputer Intelligence, Inc.
Microsoft Corporation
Micro Focus LLC
Open Text Corporation
Oracle Corporation
SAP SE and SAS.
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