Text Analytics Market Research Report- Global Forecast 2027

Text Analytics Market By Component (Software, Services), Application (Customer Experience Management, Workforce Management), Deployment (On Premise, Cloud), By Vertical (BFSI, Manufacturing, Government, Retail, E-Commerce) – Global Forecast 2027

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

Please note that the assessment period of report has been updated from 2017-2023 to 2020-2027. Cordially fill the sample form for updated data.

Market Scenario:


The text analysis method is used to retrieve high-quality information from the already available text sources. This process is also known as data mining which is used in multiple industries. The text analysis technology is specially used in multiple fields due to the summarization, classification, and making unstructured data accessible and useful. The need for the Text Analytics Market Revenue is rapidly increasing in multiple industries.


There are major driving factors that affect the Text Analytics Market Growth rate, and that includes the increasing rate of effective brand building, social media analysis, and the rapidly increasing big data market. This market is segmented on the basis of different segments. According to the global Market report, the market has an expected growth in the forecast period. The market report contains the overall Market Opportunities of the market. The market report covers the exponential growth rate and the share of the market.


The report covers the in-depth information of the market that contains the fundamental advancements and latest trends. This report covers the approximate study of the different segments in terms of overall growth, Key Players, Opportunities, and business strategies for the upcoming period.


The Text Analytics industry report extensively offers the technological developments, market factors that fuel up the market and lower down the value of the market. This report covers the historical data and the segmentation of the market on the basis of different factors. According to the global market report, the Text Analytics Market Forecast has expected growth by USD 9 Billion by 2023. Along with this, there is an expected increment in the CAGR of 17% between 2017 and 2023.


COVID19 Analysis


The covid 19 pandemics affected the market growth and lowered down the sales rate and market share. It creates multiple issues on the livelihood of people as well as upon their business. The Covid-19 analysis hampered the sales chain, Text Analytics Market Growth and lowered down market revenue. Due to the global pandemic, the industry experienced Text Analytics Industry Demand due to the decrement in the production rate, lack of employees, and the lack of equipment. Because of these factors, the market already experienced huge losses. With the help of multiple technological advancements and by following the rules of governmental factors, the Market Forecast has overcome the barriers. The governmental authorities proposed the new business strategies with the industry's growth plans in the present forecast years to prevent COVID 19 from hampering the Market Forecast. 


Market Dynamics



  • Major Drivers


The growth of the Text Analytics Market Outlook depends upon multiple factors. The market is going through the path of success due to the rising acceptance of social media platforms. The market is experiencing immense growth due to the growing inclination of cloud-based technology. The data storage facility and the growing use of the internet make this industry popular across different locations. Along with this, there are major factors that have a positive effect on the Market Demand, and those are managed risk, curb fraud and plan effective marketing campaigns. 



  • Market Restraints


Similar to the Text Analytics Market Outlook growth, there are some major restraints of the market that put efforts to hamper the market share. Due to these factors, the market shows multiple barriers. These major market restraints are lack of awareness, high cost and safety, and security reasons. The market is battling with these restraint factors to make an expected growth for the upcoming forecast period. 



  • Significant Opportunities


The market is gaining a huge amount of Text Analytics Market Opportunities from the different industries and the organization. The adoption of multiple users has influenced the ability of text analytics data. This market has a huge potential in the expansion of the text analytics industry, especially in the Asia-Pacific region. This is used by most organizations to offer actionable insights from the different text sources. It helps the business-making process by actionable insights of emails, client interaction, blogs, tweets, product reviews, and center logs. The main objective of the text analytics industry is to accumulate the different forms of structured and unstructured data. It helps to penetrate the organization, and that's why it has a huge Text Analytics Industry Demand over the forecast period in the year 2023. 



  • Market Growth Challenges


With the help of the Text Analytics Market Outlook, multiple enterprises and industries are increasing their communication with the targeted audience through multiple social media platforms, including Instagram, Twitter, and Facebook. The text mining of the data helps to create multiple marketing campaigns, but at the same time, the market goes through multiple barriers. The market has been gone through regional and linguistic barriers. For the growth of the market, the market needs more and more Market Key Players and investors who can help the market so that this method can reach their targeted audience. 


Research Methodologies


The Text Analytics Market Opportunities report is presented by the market analyst by considering multiple factors. They prepared this report after going through years of research. To prepare this report, they have gone through multiple sources like articles, journals, government statistical reports, and the past and current market scenario. They also used qualitative and quantitive assessments. The market revenue report is prepared after using the technologies like porter's five force model and SWOT analysis. 


Segment Overview


The Text analytics market can be segmented on the basis of multiple factors that are on the basis of Component, Application, Deployment, and verticals. 


Segmentation By Component:


The Text analytics industry is segmented on the basis of Component that is further categorized into Software, Services, Managed Services, and Professional Services. 


Segmentation By Application:


The market for text analytics is segmented on the basis of Applications that are further categorized into Documentation Management, Workforce Management, Customer Experience Management, Marketing Management, and Risk and Compliance Management. 


Segmentation By Deployment:


The Text analytics market is segmented on the basis of Deployment are Cloud and On-premise. 


Segmentation By Vertical:


The Text analytics industry is segmented on the basis of vertical are BFSI, Retail, And E-Commerce, Government, I.T. and Telecommunications, Manufacturing, Energy and Utilities, Travel and Hospitality. 


Regional Analysis:


The regional analysis of the text analytics market is divided into multiple regions that are North America, Asia Pacific, Europe, and the Rest of the World. Among all the above-discussed regions, North America has estimated the growth and holds the largest share of the market. After North America, the Asia-Pacific is projected to grow at the fastest rate for the upcoming forecast period. The North American region will witness significant growth and compete with the European region. North America is accounted for the competitive Market Growth in the market due to the increasing population on social media platforms and the increasing growth of mobile technology. 


Key Players:


The prominent Text Analytics Market Key Players are IBM Corporation (U.S.), SAP SE (Germany), SAS Institute, Inc. (U.S.), Clarabridge, Inc. (U.S.), OpenText Corporation (Canada), Inc. (U.S.), Megaputer Intelligence, Luminoso Technologies, Inc. (U.S.), KNIME.com AG (Switzerland), MeaningCloud LLC (U.S.), Infegy, Inc. (U.S.), Averbis (Germany), Lexalytics, Inc. (U.S.), Bitext Innovations S.L. (Spain) and others.


Study Objectives:



  • The market share report provides a detailed analysis of the market structure by considering all the market segments and sub-segments. It offers insight information of market growth.

  • The market share report covers in-depth information on the factors that affect the market growth and also the factors that drive the market. 

  • This market share report is prepared after analyzing the current market rate, past market scenarios, and reports. It provides a segmental overview of the region that includes North America, Europe, Asia, and the Rest of the World (ROW).

  • The market trends report provides the country-level analysis of the market and the strategic key profiling of the market on the basis of Component, Application, Component, Deployment, and vertical.

  • This market trends report is prepared by the multiple key players who comprehensively analysis comprehensively analyzing their core competencies. 

  • This market trends report also provides an analysis of the competitive developments by including strategic alliances, joint ventures, mergers and acquisitions, new product developments, and research and developments. 


Report Overview


Market overview highlights



  • Analysis based upon COVID 19

  • Explanation upon the Market Dynamics

  • Market segmentation overview on the Market

  • The regional analysis of the Market

  • Competitive landscape analysis of Market



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 (%)