Product ID: UCMIG45D2015
Text Analytics Market Size, Share, Growth Analysis, By Component(Software, Services), By Enterprise Model(On-premises, Cloud), By Enterprise Size(Large Enterprises, SMEs), By Application(Customer Experience Management, Marketing Management), By Industry Verticals(Retail, BFSI), By Region(North America, U.S.) - Industry Forecast 2024-2031
Report ID:
UCMIG45D2015 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Text Analytics Market Insights
Market Overview:
Text analytics is the process of converting unstructured text into structured data that aids in the discovery of meaningful patterns and novel insights. It works by disassembling sentences and phrases and evaluating each component using complex software rules and machine learning algorithms. This also includes text mining, which is the process of extracting text from a source and incorporating it into a data analysis model, and natural language processing (NLP), which is the machine learning method of converting written language into data. The increased demand for social media analytics and predictive analytics for businesses is propelling the global text analytics market forward. Furthermore, the rise in highly customised and industry-specific applications is positively impacting market growth.
Text Analytics Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Internet Services & Infrastructure by segment aggregation, the contribution of the Internet Services & Infrastructure in Software & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Text Analytics Market Report Snapshots
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