Text Analytics Market Size

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.