Text analytics is basically retrieving of high quality information from already available text sources. It is also referred to as text data mining. It is used for various purposes such as classification, summarization and to make unstructured data accessible and useful. The need for text analytics market is increasing rapidly on a global platform. The factors driving the growth of text analytics market are increasing need for social media analysis, effective brand building and rapidly increasing big data market.
The Text Analytics Market is segmented on the basis of component, application, deployment and industry vertical. Based on application, the customer experience management segment is expected to hold the largest market share during the forecast period. Text mining is frequently utilized to improve customer experience through various information sources and is one of the traditional methods in customer service. Implementation of text analytics offers quick and computerized feedback to clients, which helps in reducing the dependency on executives for resolving issues.
The global text analytics market is expected to grow at approx. USD 9 Billion by 2023, at 17% of CAGR between 2017 and 2023.
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The prominent players in text analytics market are – SAP SE (Germany), IBM Corporation (US), SAS Institute, Inc. (US), OpenText Corporation (Canada), Clarabridge, Inc. (US), Megaputer Intelligence, Inc. (US), Luminoso Technologies, Inc. (US), MeaningCloud LLC (US), KNIME.com AG (Switzerland), Infegy, Inc. (US), Lexalytics, Inc. (US), Averbis (Germany), Bitext Innovations S.L.(Spain) among others.
Text analytics market can be segmented on the basis of following:
Customer Experience Management
Risk And Compliance Management
Retail And E-Commerce
IT and Telecommunications
Energy And Utilities
Travel And Hospitality
The regional analysis of text analytics market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. During the forecast period, North America region will witness significant competition from the Europe region owing to rapid growth of mobile technology and increasing population on social media platforms.
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Integrated device manufacturers (IDMs)
Original manufacturers (OEMs)
Text analytics service vendors
Third party vendors
Regulatory and compliance agencies
TABLE OF CONTENTS
List Of Tables
Table 1 Text Analytics Market, By Component
Table 2 Text Analytics Market, By Application
Table 3 Text Analytics Market, By Deployment
Table 4 Text Analytics Market, By Vertical
Table 5 Text Analytics Market, By Regions
Table 6 North America Text Analytics Market, By Component
Table 7 North America Text Analytics Market, By Application
Table 8 North America Text Analytics Market, By Deployment
Table 9 North America Text Analytics Market, By Vertical
Table 10 U.S. Text Analytics Market, By Component
Table 11 U.S. Text Analytics Market, By Application
Table 12 U.S. Text Analytics Market, By Deployment
Table 13 U.S. Text Analytics Market, By Vertical
Table 14 Canada Text Analytics Market, By Component
Table 15 Canada Text Analytics Market, By Application
Table 16 Canada Text Analytics Market, By Deployment
Table 17 Canada Text Analytics Market, By Vertical
Table 18 Germany Text Analytics Market, By Component
Table 19 Germany Text Analytics Market, By Application
Table 20 Germany Text Analytics Market, By Deployment
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