Text Analytics Market Research Report- Global Forecast 2023

Text Analytics, By Component (Software, Services), Application (Customer Experience Management, Workforce Management), Deployment (On Premise, Cloud), By Vertical (BFSI, Manufacturing, Government, Retail, E-Commerce) – Global Forecast 2023

ID: MRFR/ICT/2203-HCR | February 2021 | Region: Global | 100 pages

Market Synopsis of Text Analytics Market:
Market Scenario:
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.


Study Objectives of Text Analytics Market:



  • To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the text analytics market.

  • To provide insights about factors affecting the market growth.

  • To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).

  • To provide country level analysis of the market with respect to the current market size and future perspective.

  • To provide country level analysis of the market for segmentation on the basis of component, application, deployment and vertical.

  • To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for text analytics market.

  • To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the text analytics market.

Text Analytics Market
Text Analytics Market


Key Players:

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.


Segments:
Text analytics market can be segmented on the basis of following:

By Component:



  • Software

  • Services

  • Managed Services

  • Professional Services

By Application:



  • Documentation Management

  • Workforce Management

  • Customer Experience Management

  • Marketing Management

  • Risk And Compliance Management

By Deployment:



  • Cloud

  • On premise

By Vertical:



  • BFSI

  • Retail And E-Commerce

  • Government

  • IT and Telecommunications

  • Manufacturing

  • Energy And Utilities

  • Travel And Hospitality

Regional Analysis:
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.


Intended Audience



  • Technology investors

  • Integrated device manufacturers (IDMs)

  • Original  manufacturers (OEMs)

  • Research/Consultancy firms

  • Text analytics service vendors

  • System integrators

  • IT developers

  • Third party vendors

  • Network operators

  • Infrastructure provider

  • Government

  • Regulatory and compliance agencies



Frequently Asked Questions (FAQ) :


Between 2017 and 2023, the text analytics market can value at USD 9 Bn at 17% CAGR by 2023.

Infegy, Inc. (US), Averbis (Germany), Lexalytics, Inc. (US), and Bitext Innovations S.L.(Spain) are some key text analytics market players.

BFSI, e-commerce, and retail are some active users of text analytics.

Documentation management and workforce management are common applications of text analytics.

APAC is expected to secure the pole position in the global text analytics market.

TABLE OF CONTENTS

1 MARKET INTRODUCTION

1.1 INTRODUCTION

1.2 SCOPE OF STUDY

1.2.1 RESEARCH OBJECTIVE

1.2.2 ASSUMPTIONS

1.2.3 LIMITATIONS

1.3 MARKET STRUCTURE

2 RESEARCH METHODOLOGY

2.1 RESEARCH TYPE

2.2 PRIMARY RESEARCH

2.3 SECONDARY RESEARCH

2.4 FORECAST MODEL

2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST

2.4.2 MARKET SIZE ESTIMATION

3 MARKET DYNAMICS

3.1 INTRODUCTION

3.2 MARKET DRIVERS

3.3 MARKET CHALLENGES

3.4 MARKET OPPORTUNITIES

3.5 MARKET RESTRAINTS

4 EXECUTIVE SUMMARY

5. MARKET FACTOR ANALYSIS

5.1 PORTER’S FIVE FORCES ANALYSIS

5.2 SUPPLY CHAIN ANALYSIS

6 TEXT ANALYTICS MARKET, BY SEGMENTS

6.1 INTRODUCTION

6.2 MARKET STATISTICS

6.2.1 BY COMPONENT

6.2.1.1 SOFTWARE

6.2.1.2 SERVICES

6.2.1.2.1 MANAGED SERVICES

6.2.1.2.2 PROFESSIONAL SERVICES

6.2.2 BY APPLICATION

6.2.2.1 DOCUMENTATION MANAGEMENT

6.2.2.2 WORKFORCE MANAGEMENT

6.2.2.3 CUSTOMER EXPERIENCE MANAGEMENT

6.2.2.4 MARKETING MANAGEMENT

6.2.2.5 RISK AND COMPLIANCE MANAGEMENT

6.2.3 BY DEPLOYMENT

6.2.3.1 CLOUD

6.2.3.2 ON PREMISE

6.2.4 BY VERTICAL

6.2.4.1 BFSI

6.2.4.2 RETAIL AND E-COMMERCE

6.2.4.3 GOVERNMENT

6.2.4.4 IT AND TELECOMMUNICATIONS

6.2.4.5 MANUFACTURING

6.2.4.6 ENERGY AND UTILITIES

6.2.4.7 TRAVEL AND HOSPITALITY

6.2.5 BY REGION

6.2.5.1 NORTH AMERICA

6.2.5.2 EUROPE

6.2.5.3 ASIA-PACIFIC

6.2.4.4 REST OF THE WORLD

7 COMPETITIVE ANALYSIS

7.1 MARKET SHARE ANALYSIS

7.2 COMPANY PROFILES

7.2.1 SAP SE (GERMANY)

7.2.2 IBM CORPORATION (US)

7.2.3 SAS INSTITUTE, INC. (US)

7.2.4 OPENTEXT CORPORATION (CANADA)

7.2.5 CLARABRIDGE, INC. (US)

7.2.6 AVERBIS (GERMANY)

7.2.7 LUMINOSO TECHNOLOGIES, INC. (US)

7.2.8 MEANINGCLOUD LLC (US)

7.2.9 KNIME.COM AG (SWITZERLAND)

7.2.10 BITEXT INNOVATIONS S.L. (SPAIN)

7.2.11 OTHERS

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

TABLE 21 GERMANY TEXT ANALYTICS MARKET, BY VERTICAL

TABLE 22 U.K. TEXT ANALYTICS MARKET, BY COMPONENT

TABLE 23 U.K. TEXT ANALYTICS MARKET, BY APPLICATION

TABLE 24 U.K. TEXT ANALYTICS MARKET, BY DEPLOYMENT

TABLE 25 U.K. TEXT ANALYTICS MARKET, BY VERTICAL

TABLE 26 EUROPE TEXT ANALYTICS MARKET, BY COMPONENT

TABLE 27 EUROPE TEXT ANALYTICS MARKET, BY APPLICATION

TABLE 28 EUROPE TEXT ANALYTICS MARKET, BY DEPLOYMENT

TABLE 29 EUROPE TEXT ANALYTICS MARKET, BY VERTICAL

TABLE 30 FRANCE TEXT ANALYTICS MARKET, BY COMPONENT

TABLE 31 FRANCE TEXT ANALYTICS MARKET, BY APPLICATION

TABLE 32 FRANCE TEXT ANALYTICS MARKET, BY DEPLOYMENT

TABLE 33 FRANCE TEXT ANALYTICS MARKET, BY VERTICAL

TABLE 34 ASIA-PACIFIC TEXT ANALYTICS MARKET, BY COMPONENT

TABLE 35 ASIA-PACIFIC TEXT ANALYTICS MARKET, BY APPLICATION

TABLE 36 ASIA-PACIFIC TEXT ANALYTICS MARKET, BY DEPLOYMENT

TABLE 37 ASIA-PACIFIC TEXT ANALYTICS MARKET, BY VERTICAL

TABLE 38 REST OF THE WORLD TEXT ANALYTICS MARKET, BY COMPONENT

TABLE 39 REST OF THE WORLD TEXT ANALYTICS MARKET, BY APPLICATION

TABLE 40 REST OF THE WORLD TEXT ANALYTICS MARKET, BY DEPLOYMENT

TABLE 41 REST OF THE WORLD TEXT ANALYTICS MARKET, BY VERTICAL


LIST OF FIGURES

FIGURE 1 RESEARCH TYPE

FIGURE 2 TEXT ANALYTICS MARKET, BY COMPONENT (%)

FIGURE 3 TEXT ANALYTICS MARKET, BY APPLICATION (%)

FIGURE 4 TEXT ANALYTICS MARKET, BY DEPLOYMENT (%)

FIGURE 5 TEXT ANALYTICS MARKET, BY VERTICAL (%)

FIGURE 6 TEXT ANALYTICS MARKET, BY REGIONS (%)

FIGURE 7 NORTH AMERICA TEXT ANALYTICS MARKET, BY COMPONENT (%)

FIGURE 8 NORTH AMERICA TEXT ANALYTICS MARKET, BY APPLICATION (%)

FIGURE 9 NORTH AMERICA TEXT ANALYTICS MARKET, BY DEPLOYMENT (%)

FIGURE 10 NORTH AMERICA TEXT ANALYTICS MARKET, BY VERTICAL (%)

FIGURE 11 EUROPE TEXT ANALYTICS MARKET, BY COMPONENT (%)

FIGURE 12 EUROPE TEXT ANALYTICS MARKET, BY APPLICATION (%)

FIGURE 13 EUROPE TEXT ANALYTICS MARKET, BY DEPLOYMENT (%)

FIGURE 14 EUROPE TEXT ANALYTICS MARKET, BY VERTICAL (%)

FIGURE 15 ASIA-PACIFIC TEXT ANALYTICS MARKET, BY COMPONENT (%)

FIGURE 16 ASIA-PACIFIC TEXT ANALYTICS MARKET, BY APPLICATION (%)

FIGURE 17 ASIA PACIFIC TEXT ANALYTICS MARKET, BY DEPLOYMENT (%)

FIGURE 18 ASIA-PACIFIC TEXT ANALYTICS MARKET, BY VERTICAL (%)

FIGURE 19 REST OF THE WORLD TEXT ANALYTICS MARKET, BY COMPONENT (%)

FIGURE 20 REST OF THE WORLD TEXT ANALYTICS MARKET, BY APPLICATION (%)

FIGURE 21 REST OF THE WORLD TEXT ANALYTICS MARKET, DEPLOYMENT (%)

FIGURE 22 REST OF THE WORLD TEXT ANALYTICS MARKET, BY VERTICAL (%)