Text Analytics Market Dynamics 2018: Opportunities, Risks and Driving Factors to 2025
According to a new report published by Reports Monitor titled, “global text Analytics market , Growth Opportunities, Innovations and Forecast, 2017-2025, “global text Analytics market” was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
The latest trends is the The growing need for social media Analytics, predictive Analytics for businesses and the need for industry-specific applications as it allows users to perform categorization & quick data extraction & get the real time insights from the stored data. Demand for insights generated from social media content to build effective marketing campaign & enhancing the customers experience. Increasing adoption of of emerging technologies by large number of text Analytics vendors. Availability & adoption of text Analytics software by small-medium enterprises at the cheaper prices.
To measure the customer feedback, sentimental analysis, entity modeling, customer opinions & product reviews the unstructured text data is converted to meaningful data for analysis. Text Analytics involve the retrieval of information from the unstructured data & the process of proper structuring of the data to derive trends & patterns, evaluating & then interpreting the data. It uses many statistical & machine learning tools. Its function is to determine the keywords & category, tags available in different files & formats of the organization. With the help of extraction tools we do data mining by converting the unstructured data into meaningful data for analysis.
Text Analytics is very helpful in business organization to understand the complicated big data with difficult jargon's by use of various business intelligence tools. It summarize the text based data into charts & tables by use of data visualization technique.thus big organization don’t need to hire extra workers for understanding & analysis of data . text Analytics thereby help the companies to understand their customers better by understanding their demands, buying patterns by analyzing the data. Through different sources substantial amount of data is generated & when this data is analyzed in real time using cloud computing technology it empowers companies to forecast the future revenue or sales.
This report provides a detailed analysis of global wireless audio devices market, which includes current industry situations such as market size, growth and demands, market outlook, major players with their key strategies such as investment, mergers and acquisitions, value chain analysis and swot analysis. It covers the market canvas and the growth, opportunities in the coming years. The report has been made with an in-depth analysis along with important inputs from the various industry experts. The research is carried out with both extensive primary and secondary data sources with bottom-up and top-down approaches. . Increasing Adoption of cloud technology to reduce fraud, manage risk & plan effective marketing campaign. However, the people are very much unaware of this software . The cost of the software depends on the version & the category of the analysis thus the software becomes very expensive that restraints the text Analytics market. Even though text analysis is gaining prominence as a futuristic technology that could redefine business processes. Many emerging economies possess a huge potential for the expansion of the text Analytics market.
Text Analytics Market is segmented by deployment model, application & end user. Deployment model is sub-segmented as on premises model & cloud based model. Application is sub-segmented as competitive intelligence, customer relationship management, fraud detection & brand reputation. End user is sub-segmented as Fast Moving Consumer Goods (FMCG), Banking Financial Services and Insurance (BFSI), Health-care and Pharmaceuticals, Telecommunication, Government & retail.
The market is segmented on the basis of the geographies: North America (USA, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia); South America (Brazil, Argentina, Columbia etc.) Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa).
The major key players are: IBM, Angoss Software, Basis Technology, Rapidminer, Opentext Corporation, SAS Institute, Clarabridge, Attensity, SAP SE, Lexalytics
About Garner Insights:
We at Garner Insights.com provide a comprehensive analysis by providing in-depth reports of the various market verticals. Our Mission is to provide a detailed analysis of the vast markets worldwide backed by rich data. Decision makers can now rely on our well-defined data gathering methods to get the correct and accurate market forecasting along with detailed analysis.