The Business Research Company’s report on the Text Analytics Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How have key drivers contributed to the rapid growth of the text analytics market?
The growing demand for social media analytics Is contributing to the growth of the text analytics market. Social media analytics is the approach of collecting data from social media sites and blogs and evaluating the data for the purpose of making business decisions. The rapid growth of social media and the growing demand for analytical solutions to foster their decision-making capabilities have increased the adoption of different text analytics techniques such as sentiment analysis, event detection, and others. For instance, in February 2023, according to the data published by the Meltwater NV, a US-based SaaS media monitoring company, the number of internet users in the UK reached 66.11 million, with an increase of 224,000 users (a growth of 0.3%) noted between 2022 and 2023. Therefore, the growing demand for social media is expected to boost the growth of the text analytics industry during the forecast period.
Access Your Free Sample of the Global Text Analytics Market Report – Get Insights Now!
https://www.thebusinessresearchcompany.com/sample.aspx?id=5971&type=smp
How has the text analytics market size evolved, and what are the latest forecasts for its expansion?
The text analytics market size has grown rapidly in recent years. It will grow from $10.86 billion in 2024 to $12.75 billion in 2025 at a compound annual growth rate (CAGR) of 17.4%. The growth in the historic period can be attributed to data explosion, demand for actionable insights, customer experience enhancement, regulatory compliance, competitive intelligence.
The text analytics market size is expected to see exponential growth in the next few years. It will grow to $28.19 billion in 2029 at a compound annual growth rate (CAGR) of 21.9%. The growth in the forecast period can be attributed to industry-specific solutions, multilingual text analytics, predictive analytics and forecasting, automated report generation. Major trends in the forecast period include focus on explain ability in AI models, voice-to-text analytics, multilingual text analytics, integration of artificial intelligence and machine learning, automation in text summarization, conversational ai and chatbot enhancement.
Gain Exclusive Market Insights—Customize Your Research Report Today For Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=5971&type=smp
Which major companies dominate the text analytics market?
Major companies operating in the text analytics market include International Business Machines Corporation, Microsoft Corporation, SAP SE, SAS Institute Inc., Lexalytics Inc., Luminoso Technologies Inc., Clarabridge Inc., Micro Focus International PLC, OpenText Corporation, RapidMiner Inc., Infegy Inc., Medallia Inc., Megaputer Intelligence Inc., Oracle Corporation, TIBCO Software Inc., Bitext Innovations SL, Basis Technology Corporation, MeaningCloud LLC, KNIME. com AG, Averbis GmbH, bizAmica Software Pvt. Ltd., Kingland Systems, Capgemini SE, NICE Ltd., Verint Systems Inc., Amazon Web Services Inc., Expert System S. p. A., Aylien Ltd., Provalis Research, Linguamatics Ltd.
What trends will shape the future of the testing, inspection, and certification market?
Technological innovation is a key trend gaining popularity in the text analytics market. The companies operating in the text analytics market are focusing on developing innovative and advanced solutions to meet the specific demands of niche customer sectors across the globe. For instance, in September 2024, Explori, a UK-based event measurement company, launched an AI-powered text analysis tool. This tool automates the coding of open-ended feedback and enables benchmarking against industry standards, significantly improving the efficiency of data analysis for event organizers. This innovation allows users to make informed, data-driven decisions quickly, ultimately enhancing event success and optimizing resource allocation.
Which region dominates the text analytics market, and what factors contribute to its leadership?
North America was the largest region in the text analytics market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the text analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Order Your Report Now For Swift Delivery
https://www.thebusinessresearchcompany.com/report/text-analytics-global-market-report
How is the text analytics market segmented, and which segment holds the largest share?
The text analytics market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment: On-premise, Cloud
3) By Enterprise Size: Large Enterprises, Small And medium Enterprises (SME’s)
Subsegments:
1) By Software: Text Analytics Platforms, Natural Language Processing (NLP) Tools, Sentiment Analysis Software, Data Mining Software, Visualization Tools
2) By Services: Consulting Services, Integration Services, Support And Maintenance Services, Training And Education Services
Purchase The Exclusive Report Now To Unlock Valuable Market Insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=5971
What defines the structure and scope of the text analytics market?
The text analytics refer to software or tools that help in automatically converting vast amounts of unstructured text into quantitative data to identify insights, trends, and patterns. This software or tool will enable businesses, governments, researchers, and the media to exploit the enormous content at their disposal for making crucial decisions.
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
https://thebusinessresearchcompany.com/
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
