Kenneth Research, in its repository of market research reports, has recently added a report on Text Analytics Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Text Analytics Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
The U.S. Market recovers fast; In a release on May 4th, 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Text Analytics Market products.
Download Sample PDF of this Report:- https://www.kennethresearch.com/sample-request-10059647
The Global Text Analytics Market was valued at USD 3.31 billion in 2016 and is projected to reach USD 14.00 billion by 2025, growing at a CAGR of 17.35% from 2017 to 2025.
Text analytics is a general practice of applying algorithms or programs to text in order to analyze that text. With an iterative approach, an organization can successfully use text analytics to gain insight into content-specific values such as sentiment, emotion, intensity and relevance. Benefits of text analytics include – efficiency, unlocking hidden information and developing new knowledge, exploring new horizons, improved research and evidence base, and improving the research process and quality.
1. Market Drivers
1.1 Increasing usage of big data and IoT in analytics market
1.2 Increasing need for social; media analytics
1.3 Rising usage of predictive analytics for business
1.4 Increasing highly customized and industry specific applications
1.5 Increasing need for enhancing customer service and competitive intelligence
2. Market Restraints
2.1 Concerns for data privacy and security
2.2 Having consistent business semantics and interpretations
2.3 Lack of technical expertise and other operational challenges
The Global Text Analytics Market is segmented on the application, organization size, component, deployment model, vertical, and region.
1. By Application:
1.1 Customer experience management
1.2 Marketing management
1.3 Workforce management
1.4 Governance, risk, and compliance management
1.5 Document management
2. Organization Size:
2.1 Large Enterprises
2.2 Small and Medium Organizations
3. By Component:
3.2.1 Managed services
3.2.2 Professional services
22.214.171.124 Support and maintenance services
126.96.36.199 System integration and deployment
188.8.131.52 Consulting services
4. By Deployment Mode:
5. By Vertical:
5.2 Government and Defense
5.3 IT and Telecom
5.4 Banking, Financial Services, and Insurance (BFSI)
5.5 Travel and Hospitality
5.6 Retail and e-commerce
5.7 Media and Entertainment
Ask for it and browse the full report- https://www.kennethresearch.com/report-details/global-text-analytics-market/10059647
6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
The major players in the market are as follows:
1. IBM Corporation
2. SAP SE
3. Opentext Corporation
4. SAS Institute, Inc.
5. Clarabridge, Inc.
6. Bitext Innovations S.L
7. Knime.Com AG
8. Luminoso Technologies, Inc.
9. Meaningcloud LLC
10. Infegy, Inc.
12. Lexalytics, Inc.
13. Megaputer Intelligence, Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Text Analytics Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team
Request Free Sample Copy:- https://www.kennethresearch.com/sample-request-10059647
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
Name: Kenneth research
Phone: +1 313 462 0609
Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.