“World Text Analytics Market Report 2017-2025” is a professional and in-depth study on the current state of the Network as a Service Market. This report studies Network as a Service in Global market, especially North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM).
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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.
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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.
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Text analytics, a process of analyzing textual information to identify the patterns and gaining insights, is gradually being used by retailers to learn more about the consumers. By identifying customer purchase patterns and opinion on particular products, retailers can target specific individual or segments with personalized offers and discounts to boost sales and increase customer loyalty.
Through text analytics, retail companies can come up with price optimization, future performance prediction, demand prediction, forecasting trends, pick up highest ROI opportunities and identify customers. Text analytics also offers online behavioral analysis of customers to come up with the best offers for their targeted customers.
Thus, retail sector is expected to create a burgeoning demand for text analytics market over the forecast period from 2017 – 2025.
List of Companies
SAS Institute Inc.
ANGOSS SOFTWARE CORPORATION
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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.
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