Text Analytics - Global Market Outlook (2017-2023)
According to Stratistics MRC, the Text Analytics Market is accounted for $3.48 billion in 2016 and expected to grow at a CAGR of 18.1% to reach $11.19 billion by 2023. Factors like text analytics, predictive analytics for businesses and rise in highly customized and industry-specific applications are boosting the market growth. Lack of awareness, skilled workforce, and other operational challenges will impede the market growth. Furthermore, rising significance of big data and IOT in analytics market provide wider opportunity for the market to grow.
Cloud based segment is anticipated to be the largest revenue generating market. Predictive analytics segment is expected to dominate the application segment during the forecast period. The retail and eCommerce segment, followed by the Banking, Financial Services, and Insurance (BFSI) segment, is witnessed to be the largest market during the forecast period. North America is the largest revenue generating region owing to the easy availability of text analytics solutions. Asia Pacific is projected to grow at the highest rate during the forecast period owing to growing awareness, surge in data, and increasing demand for real-time analytics.
Some of the key players in global Text Analytics market are Attensity Inc., Averbis, Bitext Innovations S.L., Clarabridge, Inc., Hewlett-Packard Development Company, IBM Corporation, Infegy, Inc., Knime.Com AG, Lexalytics, Inc., Luminoso Technologies, Inc., Meaningcloud LLC, Megaputer Intelligence, Inc., Microsoft Corporation, OpenText Corporation, Oracle Corporation, SAP SE, SAS Institute, Inc. and TIBCO Software Inc.
• Banking, Financial Services, & Insurance
• Energy & Utilities
• Fast Moving Consumer Goods (FMCG)
• Government & Defense
• Healthcare & Life Sciences
• Media & Entertainment
• Retail & Ecommerce
• Telecommunications & Information Technology
• Travel & Hospitality
• Other End-Users
• Brand reputation
• Competitive intelligence
• Customer relationship management (CRM)
• Document Management
• Fraud detection
• Governance, Risk, and Compliance Management
• Marketing Management
• Predictive analytics
• Workforce Management
Organization Sizes Covered:
• Small and Medium-Sized Enterprises
• Large Enterprises
Deployment Models Covered:
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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