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Global text analytics market size will cross USD 18.3 billion by 2024 according to new research report

IT Market Research

“From BioMedical to Academic research, security intelligence to social media monitoring, organizations from diverse industry, across the globe, have adapted Text Analytics techniques and the outcomes so far have proved to be efficient, cost reducing and improvisation in overall customer experience for each kind of organizations. Healthcare & Pharmaceuticals, Academic, and Automotive sectors have benefitted the most from text mining applications. Countries such as US & Europe have started adopting this technique for polls during elections, as it examines overall sentiment of the general public. In September 2017 GemSeek announced the launch of TalkAboutIT, a ready-to-fire text analytics platform which helps companies unlock the value of customer feedback."

Global 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.

Browse details of 150 pages research report developed on Global Text Analytics Market at…ast-2024/90510266 Make an Inquiry about this news

Text analytics- a technology still in its nascent stage, analyzes unstructured text, extracts relevant information, and transforms it into structured information that can be leveraged in numerous ways. Development of effective data collection and metadata management policies within an organization may help improve the technology efficacy, and drive the text analytics market.