Text Analytics Market Size 2021-2030: Analysis of Application Situation under the Influence of COVID-19

 The global Text Analytics Market Size research is an intelligence report announced by Absolute Markets Insights. The erudite market study provides insightful data for readers to help them in making informed business decisions. Primary and secondary research methodologies have also been used to discover the correct and applicable data of Text Analytics Market Size. Effective business strategies of key market players and of new startup industries are also studied thoroughly to provide extensive market knowledge. The report makes use of an effective analysis technique such as SWOT and Porter’s five analysis to present its accurate results on the market.

The major key pillars for global Text Analytics Market Size are listed below: Crimson Hexagon, Averbis, Bitext Innovations, S.L., Clarabridge, IBM, Infegy, Inc., KNIME.com AG, Lexalytics, LUMINOSO, MeaningCloud LLC, Megaputer Intelligence, Inc., Microsoft Corporation, OpenText Corp, Oracle, SAP SE, SAS Institute, Inc., TABLEAU SOFTWARE, The Hewlett-Packard Company and TIBCO Software Inc.

The Text Analytics Market Size was valued at US$ 4043.4 Mn in 2020 is expected to reach US$ 8961.3 Mn by 2030. 

For more information about this report visit: https://www.absolutemarketsinsights.com/reports/Text-Analytics-Market-2018-2026-107

Text Analytics is a new IT discipline with its foundations in linguistics and data mining. The discipline is used to convert unstructured text data into meaningful data to conduct analysis, provide search facility, assemble feedback, search for client perspectives, analyze opinions, track product audits and entity modeling to enhance and support decision making which depends on certainties. Different linguistic, statistical, and machine learning techniques are used to retrieve information from unstructured data, structure the data and accordingly derive patterns, trends, assess and interpret data. The analysis techniques similarly include lexical analysis, categorization, grouping, pattern recognition, labeling, annotation, data extraction, link, association analysis and visualization. Moreover, text analysts are collaborating with retail and e-commerce enterprises to establish themselves in the market. The development in cloud-based technologies has pushed the demand for adoption in deployment of text analytic solution.  

The Text Analytics Market Size is primarily driven by the increase in volume of unstructured data. Text analysis is used to offer a rapid, automated response to the customer, reducing their reliance on call center operators to resolve problems.  Adoption of hybrid cloud IT strategies in areas such as internet of things (IoT) is expected to fuel end-user spending on IT-based services. However, Big Data offers various lucrative opportunities for many industries and likewise represents a big risk for many users. This risk emerges from fact that these analytics tools comprise of storing, managing and efficiently analyzing data gathered from possible and available sources. Hence, individuals become widely vulnerable to exposure because of combining and exploring specific behavioral data. Hence, the need for efficient and reliable plaform solution is gaining importance. The industries such as BFSI, ecommerce and retail sectors operate on advanced technologies such as IoT, cloud system and Big Data. The rise in internet technologies among industries that require high data security drives the Text Analytics Market Size.   

Global Text Analytics Market Size Segmentation:

By Component

    • Services
      • Managed Services
      •  Professional Services
        • Support and Maintenance
        • Consulting Services
        • System Integration and Deployment
    • Software

By Deployment Model

    • Cloud
    • On-Premises

By Organization Size

    • Small and Medium-sized Enterprises (SMEs)
    • Large Enterprises

By Application

    • Customer Experience Management
    • Document Management
    • Governance, Risk and Compliance Management
    • Marketing Management
    • Workforce Management
    • Others

By Vertical

    • Banking, Financial Services, and Insurance (BFSI)
    • Energy and utilities •Government and defense
    • Healthcare and life sciences
    • Manufacturing
    • Media and entertainment
    • Retail and Ecommerce
    • Telecommunications and Information Technology (IT)
    • Travel and hospitality

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

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