Text Analytics

Text Analytics Market by Component (Software, Services), Application (Customer Experience Management, Marketing Management, Governance, Risk and Compliance Management), Deployment Model, Organization Size, Industry Vertical, Region – Global Forecast to 2024

Text analytics market expected to grow at $ +8 billion by 2024 with a compound annual growth rate (CAGR) of + 18% over the forecast period of $ 5 billion in 2019. Key growth drivers for the market include an increasing need for social media analytics and an increased need for predictive analytics for the business.

By industry, the healthcare and life sciences sectors grew at the highest CAGR over the forecast period.

Text analytics is broken down by industry. Industry sectors include BFSI, telecommunications and IT, retail and e-commerce, medical and life sciences, manufacturing, government and defense, energy and utilities, media and entertainment, travel and entertainment and others (education, research, construction, and outsourcing). The healthcare and life sciences sectors are the fastest-growing segments of the text analytics market as demand grows in dealing with big data and providing valuable insights.

Manage applications, governance, risk, and compliance to grow rapidly during the forecast period

Based on the application, the market is divided into customer experience management, marketing management, governance, risk and compliance management, document management, people management, and fraud detection and supply chain management. Among other things, customer experience management is expected to dominate the market as penetration increases to improve business by consolidating customer views on products and services. However, governance, risk and compliance management applications are expected to grow at the highest CAGR as the number of federally compliant applications in the BFSI, retail and e-commerce, telecommunications and IT and government sectors increases.

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Key Market Segments:

Key Market players:

SAP SE (Walldorf, Germany), International Business Machines Corporation (New York, U.S.), SAS Institute, Inc. (North Carolina, U.S.), OpenText Corporation (Ontario, Canada), Clarabridge, Inc. (Virginia, U.S.), Megaputer Intelligence, Inc. (Indiana, U.S.), Luminoso Technologies, Inc. (Massachusetts, U.S.), MeaningCloud LLC (New York, U.S.), KNIME.com AG (Zurich, Switzerland), Infegy, Inc. (Missouri, U.S.), Lexalytics, Inc. (Massachusetts, U.S.), and Averbis (Freiburg  Germany).

Based on components:

  • Software
  • Services
    • Managed services
    • Professional services
      • Support and maintenance
      • Consulting services
      • System integration and deployment

Based on applications:

  • Customer experience management
  • Marketing management
  • Governance, risk, and compliance management
  • Document management
  • Workforce management
  • Others

 Based on deployment modes:

  • On-premises
  • Cloud

Based on organization size:

  • Large Enterprises
  • Small and Medium-sized Enterprises (SMEs)

Based on Industry vertical:

  • Banking, Financial Services, and Insurance (BFSI)
  • Telecommunications and Information Technology (IT)
  • Retail and eCommerce
  • Healthcare and life sciences
  • Manufacturing
  • Government and defense
  • Energy and utilities
  • Media and entertainment
  • Travel and hospitality
  • Others

Based on regions:

  • North America
  • Europe
  • APAC
  • Latin America
  • MEA

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North America holds the largest market for the forecast period

The highest growth rate in APAC may be due to increased technology investment among emerging countries. This increases the demand for text analysis solutions used for the maintenance and automation of plant safety processes.

North America is expected to be a leading region in adopting and developing text analytics. Increasing investment in emerging technologies like IoT, AI, ML, increasing the presence of text analytics vendors, and increasing government support for regulatory compliance are key factors that are expected to contribute to market growth over the forecast period.

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Table of Content:

Chapter 1 Global Text Analytics Market Overview

Chapter 2 Global Economic Impact on Text Analytics Industry

Chapter 3 Global Text Analytics Market Competition by Manufacturers

Chapter 4 Global Text Analytics Production, Revenue (Value) by Region

Chapter 5 Global Text Analytics Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Text Analytics Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Text Analytics Market Analysis by Application

Chapter 8 Text Analytics Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 Global Text Analytics Market Forecast

Chapter 13 Appendix

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