Text Analytics Market By Deployment mode (On-premise model, Cloud based model), By Application (Predictive Analytics, Competitive Intelligence, Customer Relationship Management, Fraud detection, Brand Reputation) Estimation & Forecast, 2017 - 2024

October 2017

 Pages: 150

 ERC 7667

Text Analytics Market was valued at $2.7 billion in 2016 and is expected to reach $18.3 billion by 2024, having a CAGR of 27.9% during the forecast period of 2017 to 2024. The predictive analysis application segment gained the highest revenue share in the global text analytics market.

Text analytics is the next generation of big data that aids in analyzing and interpreting the unstructured data into a meaningful text. It is mainly used to gain an insight into the customers’ sentiments by analyzing their opinion and feedbacks, in order to simplify the decision making process. It is a cost effective solution that helps organization to identify, sort, and have an insight into the scattered data holding a wealth of information. In a large enterprise, a major chunk i.e. approximately 80% of the data is unstructured, which is put to use by structuring the data into a desired format with the aid of text analytic solutions. Enhancements in text analytics have enabled it to surpass the hurdles of identifying the language variations and the use of emoticons in the text. The market is expected to surge in terms of market size and offer profitable opportunities, as a mammoth amount of data is being generated from several sources such as emails, audios, social websites, tweets, forums, documents, web blogs, etc.

Market Determinants

The major determinant fuelling the growth of global text analytics market is the increasing adoption of cloud computing technology by various organizations. Rapid advancements in text analytics technology is also responsible for the surging market share of text analytics in the global market. In addition, the increasing number of social media platforms and their users are also boosting the market growth. As per a research, more than 60% of adults use social networking sites with a nearly tenfold rise since the past decade. However, the lack of awareness regarding the usefulness of such a technology and its high cost are expected to hinder the market growth. Advancement in technology leading to linguistic analysis is anticipated to generate lucrative opportunities for the growth of market in the coming years.

Text Analytics Market Determinants-Impact Analysis (2016-2024)



Segment Analysis

The global text analytics market is segmented on the basis of deployment mode, application, end users, and geography. By deployment mode, the market is segmented into on-premise, and cloud based model. On the basis of application, the market is segmented as predictive analytics, competitive intelligence, customer relationship management, fraud detection, and brand reputation. By end users, the segment is categorized into FMCG, BFSI, healthcare & pharmaceuticals, telecom, government, and retail. Geography wise, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America was the largest global text analytics market in terms of revenue, by holding 2/5 shares of the market, in 2016. It is expected to maintain its dominance and grow with a CAGR of 24.8% from 2017-2024.

RETAIL TEXT ANALYTICS MARKET BY REGION, 2016-2024



Some eminent market players are Attensity Inc., Microsoft Corporation, Statistical Analysis System, International Business Machine (IBM), SAP, Hewlett Packard (HP), Oracle, Tableau Software, Clarabridge, Tibco Software. In April, 2017 Oracle acquired Moat, an ad measurement company that helps advertisers and publishers measure whether people see and interact with online ads. The acquisition occurred with a belief that there is an opportunity to fundamentally improve marketing and storytelling by brands and publishers through better data and analytics.

TEXT ANALYTICS MARKET SEGMENTATION

By Deployment Mode
   • On-premise model
   • Cloud based model

By Application
   • Predictive Analytics
   • Competitive Intelligence
   • Customer Relationship Management
   • Fraud detection
   • Brand Reputation

By End user
   • FMCG
   • BFSI
   • Healthcare and Pharmaceuticals
   • Telecom
   • Government
   • Retail

By Geography
   • North America
   • Europe
   • Asia-Pacific
   • Rest of the World

TEXT ANALYTICS MARKET KEY PLAYERS

   • Attensity Inc.
   • Microsoft Corporation
   • Statistical Analysis System
   • International Business Machine (IBM)
   • SAP
   • Hewlett Packard (HP)
   • Oracle
   • Tableau Software
   • Clarabridge
   • Tibco Software

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    What Information does this report contain?

    • What was the market size of the Global Text Analytics Market in 2016 and the expected market size by 2024, along with the growth rate?
    • An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
    • Which are the largest revenue generating products, services or regions and their comparative growth rate?
    • Which technology is in trend and how would it evolve during the forecast period (2016 - 2024)?
    • Which are the leading companies in the Global Text Analytics Market and their competitive positioning basis their market share, product portfolio, strategic attempts and business focus?


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