Global Text Analytics Market was valued US$ 2.95 Bn in 2017 and is estimated to reach US$ 10.39 Bn by 2026 at a CAGR of 17.04%.
Global text analytics market is segmented into component, application, deployment, end user, and region. Based on application, the text analytics market is classified into workforce management, customer experience management, marketing management, documentation management, and risk & compliance management. Customer experience management segment estimated to hold the largest share of the market in the forecast period. In terms of deployment, the text analytics market is divided into on-premise and cloud. Cloud is lead the market in forecast period due to less storage space and reduce maintenance cost.
Rising usage of social media such as Facebook, inclination towards cloud for data storage, ability to manage risk, plan effective marketing for companies, and club fraud will boost the market of text analytics at same time lack of awareness about software handling, high deployment cost, and insecurity act as restrains to the market.
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North America is holding the largest share of the market text analytics followed by Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America rising the numbers of text analytics vendors and adoptions of new technologies will boost the market.
Key playerâ€™s studies, analyzed, profiled and benchmarked in text analytics market are SAP SE, IBM Corporation, SAS Institute, Inc., OpenText Corporation, Clarabridge, Meghaputer Intelligence, Luminoso Technologies, MeaningCloud LLC, KNIME.com AG, Infegy, Bitext Innovations S.L., Averbis, HP, Jive, Kana, Lexalytics, Listenlogic, Lithium, Netbase solution, Networked insights, Sysomos, Unmetric, Conversation, Confirmit, Averbis, Microsoft, Hewlett-Packard Development Company, L.P., Attensity Inc., TIBCO Software Inc., Tableau Software, and Collective Intellect.
Scope of Global Text Analytics Market:
Global Text Analytics Market, by Component:
Global Text Analytics Market, by Application:
Customer experience management
Risk & compliance management
Global Text Analytics Market, by Deployment:
Global Text Analytics Market, by End User:
Retail & e-commerce
IT & Telecommunication
Energy & utilities
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Global Text Analytics Market, by Region:
Middle East & Africa
Key Players in Global Text Analytics Market:
Infegy, Bitext Innovations S.L.
Hewlett-Packard Development Company
TIBCO Software Inc.