Text Analytics Market 2019 Forecasted to Attain an Impressive CAGR 24.2% by 2023
A Broad Analysis of the “Global Text Analytics Market Research Report- Forecast To 2025“ methodology of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the industry performance.
The global text analytics market is primarily driven by increase in the volume of unstructured data. Increasing utilization of social media platforms, consumer shifting trends towards online buying and increasing digitalization are some of the factors contributing to increase in unstructured data. Analysis of unstructured data can uncover key patterns capable of forming the basis of decision making in various organizations.
Traditionally, the data is analyzed by an individual which becomes ineffective as the volume of data increases. This demand use of text analytics software capable of handling large volume of data set and can uncover hidden patterns which assist in decision making purpose. Moreover, companies are able to exploit only 30% of unstructured data generated, this low percentage represents significant opportunity for vendors to develop analytical solutions featured with advanced capabilities including machine learning, NLP and language support. The South America text analytics market region is expected to witness a CAGR growth rate of 24.0% in the coming years.
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The global text analytics market is expected to grow from US$ 3.23 Bn in 2017 to US$ 18.28 Bn by 2025 at a CAGR of 24.2% between 2017 and 2025.
Text Analytics solutions are seamlessly integrated with video surveillance technology for comprehensive physical security. Larger facilities with multiple parking spaces, doors, entry/exit points, and loading docks benefit enormously through this integration.
The reports cover key developments in the Text Analytics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Text Analytics market are anticipated to lucrative growth opportunities in the future with the rising demand for Text Analytics market in the global market.
Key Players Influencing the Market
- Angoss Software Corporation
- Averbis GmbH
- Bitext Innovations S.L.
- Cambridge Semantics, Inc.
- Clarivate Analytics
- RapidMiner Inc.
- Expert System Group
- Basis Technology
The “Global Text Analytics Market Analysis to 2025” is a specialized and in-depth study of the Text Analytics industry with a focus on the global market trend. The report aims to provide an overview of global Text Analytics market with detailed market segmentation by solution, deployment type, application, vertical and geography. The global Text Analytics market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the market.
Besides this, the report analyzes factors affecting Text Analytics market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions considered in the Global Text Analytics Market report.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Text Analytics market based on the type and application. It also provides market size and forecast till 2025 for overall Text Analytics market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
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Answers that the report acknowledges:
- Market size and growth rate during forecast period.
- Key factors driving the Text Analytics Market.
- Key market trends cracking up the growth of the Text Analytics Market.
- Challenges to market growth.
- Key vendors of Text Analytics Market.
- Detailed SWOT analysis.
- Opportunities and threats faces by the existing vendors in Global Text Analytics Market.
- Trending factors influencing the market in the geographical regions.
- Strategic initiatives focusing the leading vendors.
- PEST analysis of the market in the five major regions.
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