According to recent market intelligence reports, the global text analytics market will exhibit an exponential 17.6% CAGR from 2017 to 2024. The market, which had a valuation of US$2.82 bn in 2016, will rise to US$12.16 bn by 2024.
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This report on the global text analytics market provides analysis for the period from 2014 to 2024, wherein 2015 is the base year and the years from 2016 to 2024 are the forecast period. Data for 2014 has been included as historical information.
The report covers all the prevalent trends and technologies playing a major role in the growth of the text analytics market over the forecast period.
It also highlights various drivers, restraints, and opportunities expected to influence market growth during this period. The study provides a holistic perspective on market growth throughout the above forecast period in terms of revenue estimates (in US$ Mn) across different geographies, which include North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America (LATAM).
Text analytics continue to deliver measurable benefits to organizations in both commercial and public sectors. In commercial sectors, it supports improved customer relationship management by interpreting real time views and preferences leading to effective marketing, and improved customer loyalty and brand value.
It accelerates the cycle times in the development of products, and early detection of product related issues. In the public sector, text analytics help in uncovering patterns that shows fraudulent behavior, identify threats, and detect connections among criminal groups.
North America dominates the text analytics market globally owing to growing technological advancements and enhanced demand for data analysis in this region.
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This research report provides in-depth analysis of the global text analytics market on the basis of deployment type, applications, and end-users. The text analytics market based on deployment type includes on-premise and cloud-based text analytics solutions.
The text analytics market on the basis of applications is segmented into data analysis & forecasting, fraud/spam detection, intelligence & law enforcement, and customer relationship management (CRM). The text analytics end-user segment comprises military and defense, BFSI, retail, healthcare, IT and telecom, entertainment and media, and others.
In terms of geographical regions, the report segments the global text analytics market into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America; the regions are analyzed in terms of revenue generation. The report provides a cross-sectional analysis of the global text analytics market in terms of estimates and forecasts for all segments across different geographic regions.
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The report includes competitive profiling of major players engaged in the development of text analytics. The major business strategies adopted by these players, their market positioning, and recent developments have been identified in the research report.
The report also provides market positioning analysis of major players in the text analytics market based on their 2015 revenues. Some of the major players profiled in the report include IBM Corporation, Microsoft Corporation, SAS Institute Inc., SAP SE, RapidMiner, Inc., Attensity Group, Inc., Predixion Software, Lexalytics, Inc.
and Angoss Software Corporation.
The global text analytics market is segmented as below:
Text Analytics Market:
Text Analytics Market: By Deployment Type
Text Analytics Market: By Applications
- Data Analysis & Forecasting
- Fraud/Spam Detection
- Intelligence & Law Enforcement
- Customer Relationship Management (CRM)
Text Analytics Market: By End-User
- Military and Defense
- IT and Telecom
- Entertainment and Media
- Others (Automotive and Transportation and Hospitality)
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