USD 3.96 Billion
Text Analytics Market Size, Share, and Growth Analysis
Text Analytics Market By Component (Software, Services), By Enterprise Size, By Application, By Vertical, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45D2112 |
Region:
Global |
Published Date: December, 2024
Pages:
162
|Tables:
91
|Figures:
71
Format -
Text Analytics Market Insights
Text Analytics Market size was valued at USD 3.96 Billion in 2023 and is poised to grow from USD 4.54 Billion in 2024 to USD 11.89 Billion by 2032, growing at a CAGR of 14.73% during the forecast period (2025-2032).
The global text analytics market is expanding because of businesses' increased requirement for predictive and social media analytics. Additionally, the market is expanding favorably due to the development of highly customized and industry-specific applications. But concerns about data security and privacy, a skilled labor supply, and other operational issues, as well as a lack of knowledge about text analytics, impede the market's expansion. Conversely, it is anticipated that improved customer service and competitive intelligence would present lucrative prospects for market growth throughout the course of the projection period. Unstructured text can be transformed into structured data through the process of text analytics, which enables the discovery of novel and significant patterns.
It operates by disassembling words and phrases into their constituent parts, after which each part is assessed through the use of sophisticated machine learning algorithms and software rules. In addition, natural language processing (NLP), a machine learning technique for converting written language into data, and text mining—the act of extracting text from a source and incorporating it into a data analysis model—are involved. AI and text analytics together are a big business development. Businesses are improving text analysis through the use of ML algorithms and artificial intelligence. By employing AI to identify occurrences, emotions, and textual elements, text analytics solutions may evolve and get better over time.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Software
Fastest Growth
Services
Growth Rate
14.73% CAGR
Global Text Analytics Market ($ Bn)
Country Share by North America (%)
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Text Analytics Market Segments Analysis
Global Text Analytics Market is segmented by Component, Enterprise Size, Application, Vertical and Region. Based on Component, the market is segmented into Software, Services. Based on Enterprise Size, the market is segmented into Large Enterprises, SMEs. Based on Application, the market is segmented into Customer Experience Management, Marketing Management, Document Management, Workforce Management, Others. Based on Vertical, the market is segmented into Retail, BFSI, Travel and Hospitality, Media and Entertainment, Healthcare, IT and Telecom, Others. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Component
As per categorization by component, the market is classified as software and services. Among these, software earned the largest share and continues to dominate the market. The software component dominates the global text analytics market due to its critical role in processing unstructured data, offering advanced NLP, machine learning algorithms, and real-time analytics. Innovations focus on enhancing user-friendly interfaces, AI-powered automation, and scalability, driving widespread adoption across industries for deeper insights and efficient decision-making.
The services component is poised for the fastest growth in the global text analytics market as businesses increasingly seek expert consultation, integration, and ongoing support to optimize text analytics solutions. With the complexity of implementing AI-driven analytics systems, companies rely on professional services to tailor solutions, ensure scalability, and maintain system performance. Additionally, growing demand for managed services, training, and customization further accelerates the adoption of services, enabling businesses to maximize the value of text analytics technologies.
Analysis by Application
Governance, Risk, and Compliance (GRC) management dominates the global text analytics market due to rising regulatory demands and the need for proactive risk management. Innovations focus on automating compliance monitoring, using AI to identify risks in real-time, and streamlining audit processes, driving its adoption across highly regulated industries like finance and healthcare.
Marketing management is expected to be the fastest-growing segment in the global text analytics market as businesses increasingly leverage text analytics to enhance customer engagement, sentiment analysis, and targeted campaigns. With AI-driven insights from customer feedback, social media, and market trends, marketers can personalize strategies and optimize ROI. The rising demand for real-time data analysis and the ability to predict consumer behavior makes text analytics indispensable, fueling its rapid adoption in marketing operations.
Global Text Analytics Market By Component (%)
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Text Analytics Market Regional Insights
North America dominates the global text analytics market due to its advanced technological infrastructure, high adoption of artificial intelligence, and a strong emphasis on data-driven decision-making. The region is home to leading tech companies and innovative startups that invest heavily in research and development, fostering a vibrant ecosystem for text analytics solutions. Furthermore, stringent regulatory requirements in industries such as finance, healthcare, and telecommunications drive the demand for robust governance, risk, and compliance tools. The increasing reliance on social media and customer feedback analytics also propels the market, as businesses seek to enhance customer engagement and improve operational efficiency through actionable insights.
Europe is emerging as the fastest-growing region in the global text analytics market, driven by a combination of increasing digital transformation initiatives and the rising need for data compliance and privacy regulations, such as GDPR. Companies across various sectors are leveraging text analytics to extract valuable insights from unstructured data, enhance customer experiences, and streamline operations. The region's focus on innovation, particularly in artificial intelligence and machine learning technologies, further fuels market growth. Additionally, the presence of numerous tech startups and established enterprises collaborating on advanced analytics solutions underscores Europe's commitment to harnessing text analytics for competitive advantage, thereby accelerating its market expansion.
Global Text Analytics Market By Geography
- Largest
- Fastest
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Text Analytics Market Dynamics
Drivers
Increasing Data Volume
- The exponential growth of unstructured data generated from various sources, such as social media, customer feedback, and online interactions, drives the global text analytics market. Organizations recognize the need to analyze this data to gain actionable insights, enhance decision-making, and improve customer experiences, fueling demand for text analytics solutions.
Advancements in Natural Language Processing
- Advancements in natural language processing (NLP) technologies significantly contribute to the growth of the global text analytics market. Improved algorithms and machine learning techniques enable more accurate sentiment analysis and contextual understanding, allowing businesses to derive deeper insights from textual data, optimize marketing strategies, and enhance overall operational efficiency.
Restraints
Data Privacy Concerns
- Growing concerns over data privacy and compliance with regulations like GDPR pose significant challenges for the global text analytics market. Organizations must navigate complex legal frameworks when handling sensitive information, which can hinder the implementation of text analytics solutions and limit the insights they can derive from unstructured data.
Integration Challenges
- Integrating text analytics solutions with existing systems and processes can be a complex and resource-intensive task. Many organizations face difficulties in ensuring seamless compatibility and data flow across platforms, which can result in increased costs and time delays, ultimately restraining the adoption and effectiveness of text analytics technologies in business operations.
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Text Analytics Market Competitive Landscape
The competitive landscape of the global text analytics market is characterized by rapid innovation and a diverse array of players, ranging from established tech giants to agile startups. Key companies include IBM, SAS Institute, Microsoft, and Oracle, which offer robust text analytics solutions integrated with AI and machine learning capabilities. Additionally, emerging players like Clarabridge and NetBase are gaining traction by providing specialized analytics for customer insights. The competition drives continuous advancements, ensuring that organizations can leverage cutting-edge technologies for data-driven decision-making.
Top Players in Text Analytics Market
- IBM (USA)
- Microsoft (USA)
- Oracle (USA)
- SAS Institute (USA)
- SAP (Germany)
- Google (USA)
- Amazon Web Services (USA)
- RapidMiner (USA)
- Clarabridge (USA)
- NetBase (USA)
- OpenText (Canada)
- AYLIEN (Ireland)
- Text Analytics (USA)
- Infor (USA)
- H2O.ai (USA)
Recent Developments
- In September 2023, IBM announced an enhancement to its Watson Natural Language Understanding service, integrating advanced machine learning capabilities to improve sentiment analysis and entity recognition. This upgrade allows businesses to derive deeper insights from unstructured data, enhancing customer interactions and operational efficiencies across various sectors.
- In August 2023, Microsoft launched an updated version of its Azure Text Analytics service, featuring improved multilingual support and enhanced API functionality. This development enables organizations to analyze text data in multiple languages, facilitating global operations and allowing businesses to better understand diverse customer sentiments and trends in real-time.
- In October 2023, Google Cloud unveiled its new Natural Language AI enhancements, which include advanced text classification and sentiment analysis features. This update aims to help businesses extract more nuanced insights from their data, driving better decision-making and customer engagement strategies in various industries, including marketing and customer service.
Text Analytics Key Market Trends
- Rise of AI-Driven Solutions: The global text analytics market is increasingly adopting AI-driven solutions, enhancing data processing and analysis capabilities. These advanced technologies improve sentiment analysis, contextual understanding, and predictive analytics, enabling businesses to derive actionable insights from vast amounts of unstructured data, ultimately enhancing decision-making and customer engagement.
- Integration with Business Intelligence Tools: A growing trend in the global text analytics market is the integration of text analytics with business intelligence (BI) tools. This integration allows organizations to combine textual insights with quantitative data, providing a more comprehensive view of performance metrics and customer feedback, thus driving informed strategic decisions and operational efficiency.
Text Analytics Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, in conclusion, the global text analytics market is witnessing significant growth driven by the rising demand for predictive analytics and tailored applications across industries. Despite challenges like data privacy concerns and integration difficulties, advancements in natural language processing and the increasing volume of unstructured data present opportunities for innovation.
Key segments, including marketing management and governance, risk, and compliance, are set to expand, supported by advancements in AI and machine learning. As organizations seek to harness valuable insights from unstructured data, the text analytics market is poised for continued evolution and adoption across various sectors.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 3.96 Billion |
| Market size value in 2032 | USD 11.89 Billion |
| Growth Rate | 14.73% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Text Analytics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Text Analytics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Text Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Text Analytics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Text Analytics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Text Analytics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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