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Text Analytics Market Expects The Advent of Cloud Technology to Spur Future Text Analysis Innovations - MarketIntelReports

Text Analysis Market Revenue Predicted to Cross $6.5 Billion by 2020 at a CAGR of 25.2% Owing To A Need For Real-Time Insights

/EIN News/ -- Wilmington, Delaware, March 14, 2017 (GLOBE NEWSWIRE) -- The report “Global Text Analytics Market (Deployment Model, Application, End User and Geography) - Size, Share, Global Trends, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2013 - 2020”, available on MarketIntelReports, estimates that the market will register a CAGR of 6.5% till 2020.

Browse 25 Market Tables as well as 31 Figures which are spread through 109 Pages and an in-depth TOC on the “Text Analytics Market 2014 - 2020

Scope & Regional Forecast of the Text Analytics Market

Text analytics can be described as the process of gleaning high-quality insights or information by going through text. Such insights are derived through text analysis by examining the patterns or trends by utilizing statistics. The process of text mining roughly involved putting in the relevant text, making out the patterns contained within, and making sense of the eventual output. Text analytics tools usually lead to information which is of high relevance, unique and extremely interesting. Text mining tools like text analytics software help enterprises understand customers more accurately by evaluating customer demands, buying trends, customer feedback, etc. Thus, the Text Analytics Market is primed to exhibit a significant amount of growth during the forecast period of 2014-2020.

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The Text Analytics Market considers the primary growth drivers to be a few factors like: rising use of social media platforms for understanding behavioral trends; adoption of cloud technology when it comes to data storage; a need for comping up with efficient PR campaigns; and a growing enterprise need for business analytics in real-time. The market revenue for text analytics software is expected to cross the $6.5 billion mark, accompanied by a CAGR of 25.2%, by 2020.

Some of the major end users utilizing the services of the Text Analytics Market are retail, insurance, healthcare, banking, etc. The major advancement within the field text data mining is expected to be the rapidly growing adoption of cloud technology. The major benefits provided by it are real-time analysis & insights, and the ability to evaluate text from any source at any time. Text analytics companies are eagerly integrating big data analytics to ensure that enterprises do not need in-house expertise from a variety of fields to make sense of the analytics.

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Prominent Segmentations Involved in the Text Analytics Market

The Text Analytics Market can be broken down into various segmentations on the basis of -

  • Deployment Model: On-Premise Model and Cloud Based Model.
  • Application: Competitive Intelligence, Customer Relationship management, Predictive Analytics, Fraud detection and Brand Reputation.
  • End User: Fast Moving Consumer Goods (FMCG), Banking Financial Services and Insurance (BFSI), Healthcare and Pharmaceuticals, Telecommunication, Government and Retail.
  • Geography: North America, Europe, Asia-Pacific and LAMEA.

Some of the sample companies profiled in the Text Analytics Market report are as follows:

  • International Business Machine (IBM)
  • Hewlett Packard (HP)
  • Microsoft Corporation
  • Attensity Inc.
  • Clarabridge
  • Tibco Software
  • Tableau Software
  • Oracle

 Why buy this report?

  • Get a detailed picture of the Text Analytics Market.
  • Pinpoint growth sectors and identify factors driving change.
  • Understand the competitive environment, the market’s major players and leading brands.
  • A five-year forecast method is used in order to assess how the market is predicted to develop.

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