Global Text Analytics Market size is expected to reach nearly US $ 20.42 Bn by 2029 with the CAGR of 17.35% during the forecast period.
Text Analytics Market Overview:
The market report for Text Analytics includes information on market share and company profiles for the leading international competitors along with a thorough analysis of the competition. The scope of the study includes a complete examination of the Text Analytics Market as well as the factors influencing regional variations in the growth of the industry.
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Market Scope:
After market engineering, which included market statistics calculations, market size estimations, market predictions, market breakdown, and data triangulation, was complete, extensive primary research was carried out to gather data and confirm important figures. Throughout the market engineering process, top-down, bottom-up, and other data triangulation methodologies were routinely employed to conduct market estimates and forecasting for the general market segments and sub-segments detailed in this study. In order to provide vital information during the study, all data collected during the market engineering process is submitted to comprehensive qualitative and quantitative analysis.
Text Analytics Market Segment:
by Component
• Software
• Services
by Application
• Workforce management
• Customer experience management
• Marketing management
• Documentation management
• Risk & compliance management
by Deployment
• Cloud
• On-premise
by End User
• Retail & e-commerce
• Government
• IT & Telecommunication
• BFSI
• Manufacturing
• Energy & utilities
• Travel
• Hospitals
• Others
Text Analytics Market Key players:
• SAP SE
• IBM Corporation
• SAS Institute
• Inc.
• OpenText Corporation
• Clarabridge
• Meghaputer Intelligence
• Luminoso Technologies
• MeaningCloud LLC
• KNIME.com AG
• Infegy, Bitext Innovations S.L.
• Averbis, HP
• Jive
• Kana
• Lexalytics
• Listenlogic
• Lithium
To identify the market’s leaders and project market revenue, primary and secondary research are both used. CEOs, marketing executives, and seasoned front-line employees were just a few of the notable thought leaders and subject matter experts that participated in the in-depth interviews for the main study. As a part of the primary study, extensive interviews with important thought leaders and business experts—including CEOs, marketing executives, and seasoned front-line staff—were conducted.
The secondary study included a review of the annual and financial reports of the major manufacturers. Secondary data is employed to calculate percentage splits, market shares, growth rates, and global market breakdowns. The results of these calculations are then put up against the original data in comparison. The Text Analytics market is dominated by the following businesses:
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Regional Analysis:
The regional market research report for Text Analytics also includes information on the specific market driving forces and changes in market legislation that have an impact on current and future market trends. Current and forthcoming trends are studied in order to evaluate the potential market as a whole and find profitable patterns to lay a stronger foundation. The evaluation of the regional market is built on the basis of the current environment and expected trends.
COVID-19 Impact Analysis on Text Analytics Market:
A stop in activities between January 2020 and May 2020 resulted in a fall in the growth of end-user industries utilising Text Analytics. These countries included Spain, France, Italy, China, the United States, the United Kingdom, and Spain. The market for Text Analytics manufacturers as well as the profits of companies operating in these sectors consequently experienced a sharp decline. This affected the market’s growth in 2020. Due to lockdowns and an increase in COVID-19 occurrences globally, end-user business demand for Text Analytics has been severely decreased.
Key Questions Answered in the Text Analytics Market Report are:
- Which market segment has the highest percentage of Text Analytics in 2021?
- To what extent is there competition in the market?
- What are the primary factors influencing the growth of the Text Analytics market?
- What portion of the market does region Text Analytics control?
- What is the expected market CAGR from 2022 to 2029?
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