DUBLIN, June 17, 2022 /PRNewswire/ -- The "Text Analytics Market by Component, Deployment Model, Enterprise Size, Application and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
Text analytics is the process of converting the unstructured text data into meaningful data. This analytical software offers solutions which provides tools, servers, analytic algorithm-based applications, data mining and extraction tools for converting data into meaningful resources.
This is further utilized in the process of analysis, product review, feedback, to measure customer opinions and entity modeling to support fact-based decision making. Text analytics is applicable for various purposes which includes sentiment analysis, automated ad placement, social media monitoring, competitive intelligence and others.Growing need for social media analytics and predictive analytics for businesses are boosting the growth of the global text analytics market. In addition, rise in highly customized and industry-specific applications is positively impacts growth of the market. However, lack of awareness, skilled workforce, and other operational challenges and data privacy and security concerns is hampering the market growth. On the contrary, enhancing customer service and competitive intelligence is expected to offer remunerative opportunities for expansion of the market during the forecast period.The global text analytics market is segmented into component, deployment model, enterprise size, application, industry vertical, and region. By component, the market is bifurcated into software and services. On the basis of deployment model, it is categorized into on-premises and cloud. Depending ion enterprise size, the market divided into large enterprises and SMEs. The applications covered in the study include customer experience management, marketing management, governance, risk, and compliance management, document management, workforce management, and others.
As per industry vertical, the market is fragmented into retail, BFSI, travel & hospitality, media & entertainment, healthcare, IT & telecom, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.The key players profiled in the text analytics market analysis are Clarabridge, Inc., IBM, Luminoso Technologies, Inc., Megaputer Intelligence, Inc., Microsoft Corporation, Micro Focus LLC, Open Text Corporation, Oracle Corporation, SAP SE, and SAS. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.Key Benefits
Key Topics Covered: CHAPTER 1: INTRODUCTIONCHAPTER 2: EXECUTIVE SUMMARYCHAPTER 3: MARKET OVERVIEW3.1. Market definition and scope3.2. Key forces shaping text analytics industry/market3.1. Market dynamics3.1.1. Drivers3.11.1. Surge in need for social media analytics
For more information about this report visit https://www.researchandmarkets.com/r/ek5j2p
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