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Text Analytics Market Size, Share, Growth & Forecast (2024-2032)
Text Analytics Market Size Was Valued at USD 15.55 Billion in 2023, and is Projected to Reach USD 70.03 Billion by 2032, Growing at a CAGR of 18.20 % From 2024-2032.
IMR Group
Description
Text Analytics Market Synopsis:
Text Analytics Market Size Was Valued at USD 15.55 Billion in 2023, and is Projected to Reach USD 70.03 Billion by 2032, Growing at a CAGR of 18.20 % From 2024-2032.
Text analytics refers to the action of implementing methods for extracting valuable and significant information from large sets of natural language text, which can involve computational linguistics, NLP and machine learning. It comprises the use of statistical and computational techniques to identify sentiment analysis, trends and hidden relations in large and unstructured data such as social media content, emails, documents, customer reviews and so on to allow organizations make data driven business decisions.
Large volumes of data created through digital channels are perhaps the most prominent driver of the text analytics market. The social media, emails, and online customer interactions have greatly contributed to an exponential generation of unstructured textual data. Companies are using text analytics solutions to gain insight from this data to make improved decisions, to develop better customer experiences and to create better marketing programmes. Also, the escalating trend of service adoption based on cloud-based networks and architectures en ables organisations to store and process extended amounts of information.
Reaction with attention being on enhancing the experience of customers is another factor. As more organizations attempt to gain insights concerning customer views, opinions, and preferences, text analytics has become central in CRM. Text analytics extracted from survey responses, support tickets, social media, not only, reveals areas of customer pain, predicts future behavior but also, enables targeted communication leading to overall customer satisfaction and brand loyalty.
Text Analytics Market Trend Analysis:
AI and ML utilization to maximize text analysis processes
Another emerging trend of the text analytics niche covers AI and ML utilization to maximize text analysis processes. Smart solutions in the text’s domain are helping organizations to classify, abstract and review extensive textual information, in an efficient way and with higher efficiency due to AI. This trend is expected to continue as newer technologies turn into more widespread and affordable for all sectors, and as AI tools become more integrated into organizational structures reducing the amount of data which requires manual processing and increasing overall organizational efficiency.
There is another trend, which is the growth of using sentiment analysis to analyze customers’ opinions and feedbacks. Business organizations are now using text analysis in order to analyze customer opinion in social networking sites, online reviews, and support requests. This allows it for a business organization to easily identify new phenomena developing in the market, track their own brand name in social media, and take appropriate action to address issues of concern from consumers. The future enhance demand of such technologies would certainly be connected with the improvement of sentiment analysis tools in terms of accuracy and functionality, in specific sectors like retail, hospitality and media.
Increasingly seeking ways to manage huge amounts of information
The opportunities are greater in the healthcare industry because organizations in this domain are increasingly seeking ways to manage huge amounts of information relating to patients such as electronic medical records, clinical documents, and research articles. Since text mining can be applied to healthcare facilities, it is important for the providers to get information both on outcomes of potential treatments and new diseases. However, when it comes to patient care, text analytics can also be applied to help in primary indicators of risks related to the patient’s health condition and to determine other aspects of the services that can be improved.
This means that the countries of the region have a great potential in the development of the electronic commerce and retailing systems. For the interest of enhancing product offering, text analytics can be used by retailers to filter customer reviews, product feedback and social media discourse. The importance of analyzing customer feedback lies within the fact that pattern identification in this area leads to better product creation and overall market approaches as well as serving customer needs, which in turn will lead to more sales and better customer satisfaction.
Text Analytics Market Segment Analysis:
Text Analytics Market Segmented on the basis of Type, Application, End-User Industry, and Region.
By Type, Descriptive Analytic segment is expected to dominate the market during the forecast period
Text Analytics can be segmented into four key categories: Descriptive, Diagnostic, Predictive, and Prescriptive Analytics, each serving a distinct business purpose. Descriptive Analytics focuses on summarizing historical textual data to provide insights into past events and patterns. It helps organizations understand what has happened based on textual feedback, reports, or customer interactions. Diagnostic Analytics goes a step further by identifying the underlying causes of events or behaviors revealed in the text, offering a deeper understanding of issues. Predictive Analytics uses historical textual data combined with statistical models and machine learning to forecast future trends, aiding businesses in planning ahead. Prescriptive Analytics offers actionable recommendations, guiding businesses on how to respond optimally to various scenarios based on insights derived from text data.
By Application, Customer Relationship Management (CRM) segment expected to held the largest share
Text Analytics is applied across various domains, with key applications including Customer Relationship Management (CRM), Social Media Analytics, Business Intelligence, and Sentiment Analysis. In CRM, Text Analytics is used to evaluate customer behavior, feedback, and preferences, helping organizations enhance customer service and improve personalization. Social Media Analytics involves processing large volumes of textual data from platforms like Twitter, Facebook, and Instagram to gauge public sentiment, monitor brand reputation, and assess industry trends. Business Intelligence leverages textual information from sources such as surveys and customer demographics to support organizational strategy and data-driven decision-making. Sentiment Analysis focuses on identifying and interpreting emotional tone within text, enabling businesses to understand consumer feelings, satisfaction levels, and perceptions toward products, services, or brands.
Text Analytics Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast period
The text analytics market in North America is currently most prominent because of the greater acceptance and implementation of the latest technologies such as artificial intelligence and machine learning and is home to the market’s major vendors. The United States especially has taken the largest share of the market given that corporations in various sectors are applying text analytics in creating customer value, enhancing organizational productivity and organizational decision making. Furthermore, increased availability of IT facilities together with increased need for data-oriented solutions has led to the development of the text analytics market in the region.
Also, there is a stronger presence of organizations in North America which are across sectors such as healthcare, finance, retail, these industries are early adopter for text analytics solutions. The increasing importance of customer satisfaction, adherence to rules and regulations, and business process improvement also stimulates interest in text analytics tools. This market leadership should persist, and additional developments and expenditure in the AI and text analysis technologies should help to advance the market within this region.
Active Key Players in the Text Analytics Market
Accenture (Ireland)
Google (USA)
IBM (USA)
Informatica (USA)
Lexalytics (USA)
Microsoft (USA)
Oracle (USA)
RapidMiner (USA)
SAP (Germany)
SAS Institute (USA)
Other Active Players
Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter’s Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Text Analytics Market by Type
4.1 Text Analytics Market Snapshot and Growth Engine
4.2 Text Analytics Market Overview
4.3 Centrifugal Pumps
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.3.3 Key Market Trends, Growth Factors and Opportunities
4.3.4 Centrifugal Pumps: Geographic Segmentation Analysis
4.4 Positive Displacement Pumps
4.4.1 Introduction and Market Overview
4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.4.3 Key Market Trends, Growth Factors and Opportunities
4.4.4 Positive Displacement Pumps: Geographic Segmentation Analysis
Chapter 5: Text Analytics Market by Power Source
5.1 Text Analytics Market Snapshot and Growth Engine
5.2 Text Analytics Market Overview
5.3 Electric
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Electric: Geographic Segmentation Analysis
5.4 Diesel
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Diesel: Geographic Segmentation Analysis
5.5 Solar
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Solar: Geographic Segmentation Analysis
Chapter 6: Text Analytics Market by Application
6.1 Text Analytics Market Snapshot and Growth Engine
6.2 Text Analytics Market Overview
6.3 Residential
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Residential: Geographic Segmentation Analysis
6.4 Commercial
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 Commercial: Geographic Segmentation Analysis
6.5 Industrial
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 Industrial: Geographic Segmentation Analysis
Chapter 7: Text Analytics Market by End User
7.1 Text Analytics Market Snapshot and Growth Engine
7.2 Text Analytics Market Overview
7.3 Agriculture
7.3.1 Introduction and Market Overview
7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.3.3 Key Market Trends, Growth Factors and Opportunities
7.3.4 Agriculture: Geographic Segmentation Analysis
7.4 Water & Wastewater Treatment
7.4.1 Introduction and Market Overview
7.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.4.3 Key Market Trends, Growth Factors and Opportunities
7.4.4 Water & Wastewater Treatment: Geographic Segmentation Analysis
7.5 Construction
7.5.1 Introduction and Market Overview
7.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.5.3 Key Market Trends, Growth Factors and Opportunities
7.5.4 Construction: Geographic Segmentation Analysis
7.6 Oil & Gas
7.6.1 Introduction and Market Overview
7.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.6.3 Key Market Trends, Growth Factors and Opportunities
7.6.4 Oil & Gas: Geographic Segmentation Analysis
7.7 Industrial & Manufacturing
7.7.1 Introduction and Market Overview
7.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.7.3 Key Market Trends, Growth Factors and Opportunities
7.7.4 Industrial & Manufacturing: Geographic Segmentation Analysis
7.8 HVAC (Heating
7.8.1 Introduction and Market Overview
7.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.8.3 Key Market Trends, Growth Factors and Opportunities
7.8.4 HVAC (Heating: Geographic Segmentation Analysis
7.9 Ventilation
7.9.1 Introduction and Market Overview
7.9.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.9.3 Key Market Trends, Growth Factors and Opportunities
7.9.4 Ventilation: Geographic Segmentation Analysis
7.10 and Air Conditioning)
7.10.1 Introduction and Market Overview
7.10.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.10.3 Key Market Trends, Growth Factors and Opportunities
7.10.4 and Air Conditioning): Geographic Segmentation Analysis
Chapter 8: Company Profiles and Competitive Analysis
8.1 Competitive Landscape
8.1.1 Competitive Benchmarking
8.1.2 Text Analytics Market Share by Manufacturer (2023)
8.1.3 Industry BCG Matrix
8.1.4 Heat Map Analysis
8.1.5 Mergers and Acquisitions
8.2 IBM (USA)
8.2.1 Company Overview
8.2.2 Key Executives
8.2.3 Company Snapshot
8.2.4 Role of the Company in the Market
8.2.5 Sustainability and Social Responsibility
8.2.6 Operating Business Segments
8.2.7 Product Portfolio
8.2.8 Business Performance
8.2.9 Key Strategic Moves and Recent Developments
8.2.10 SWOT Analysis
8.3 SAS INSTITUTE (USA)
8.4 GOOGLE (USA)
8.5 MICROSOFT (USA)
8.6 ORACLE (USA)
8.7 ACCENTURE (IRELAND)
8.8 SAP (GERMANY)
8.9 LEXALYTICS (USA)
8.10 INFORMATICA (USA)
8.11 RAPIDMINER (USA)
8.12 OTHER ACTIVE PLAYERS
Chapter 9: Global Text Analytics Market By Region
9.1 Overview
9.2. North America Text Analytics Market
9.2.1 Key Market Trends, Growth Factors and Opportunities
9.2.2 Top Key Companies
9.2.3 Historic and Forecasted Market Size by Segments
9.2.4 Historic and Forecasted Market Size By Type
9.2.4.1 Centrifugal Pumps
9.2.4.2 Positive Displacement Pumps
9.2.5 Historic and Forecasted Market Size By Power Source
9.2.5.1 Electric
9.2.5.2 Diesel
9.2.5.3 Solar
9.2.6 Historic and Forecasted Market Size By Application
9.2.6.1 Residential
9.2.6.2 Commercial
9.2.6.3 Industrial
9.2.7 Historic and Forecasted Market Size By End User
9.2.7.1 Agriculture
9.2.7.2 Water & Wastewater Treatment
9.2.7.3 Construction
9.2.7.4 Oil & Gas
9.2.7.5 Industrial & Manufacturing
9.2.7.6 HVAC (Heating
9.2.7.7 Ventilation
9.2.7.8 and Air Conditioning)
9.2.8 Historic and Forecast Market Size by Country
9.2.8.1 US
9.2.8.2 Canada
9.2.8.3 Mexico
9.3. Eastern Europe Text Analytics Market
9.3.1 Key Market Trends, Growth Factors and Opportunities
9.3.2 Top Key Companies
9.3.3 Historic and Forecasted Market Size by Segments
9.3.4 Historic and Forecasted Market Size By Type
9.3.4.1 Centrifugal Pumps
9.3.4.2 Positive Displacement Pumps
9.3.5 Historic and Forecasted Market Size By Power Source
9.3.5.1 Electric
9.3.5.2 Diesel
9.3.5.3 Solar
9.3.6 Historic and Forecasted Market Size By Application
9.3.6.1 Residential
9.3.6.2 Commercial
9.3.6.3 Industrial
9.3.7 Historic and Forecasted Market Size By End User
9.3.7.1 Agriculture
9.3.7.2 Water & Wastewater Treatment
9.3.7.3 Construction
9.3.7.4 Oil & Gas
9.3.7.5 Industrial & Manufacturing
9.3.7.6 HVAC (Heating
9.3.7.7 Ventilation
9.3.7.8 and Air Conditioning)
9.3.8 Historic and Forecast Market Size by Country
9.3.8.1 Russia
9.3.8.2 Bulgaria
9.3.8.3 The Czech Republic
9.3.8.4 Hungary
9.3.8.5 Poland
9.3.8.6 Romania
9.3.8.7 Rest of Eastern Europe
9.4. Western Europe Text Analytics Market
9.4.1 Key Market Trends, Growth Factors and Opportunities
9.4.2 Top Key Companies
9.4.3 Historic and Forecasted Market Size by Segments
9.4.4 Historic and Forecasted Market Size By Type
9.4.4.1 Centrifugal Pumps
9.4.4.2 Positive Displacement Pumps
9.4.5 Historic and Forecasted Market Size By Power Source
9.4.5.1 Electric
9.4.5.2 Diesel
9.4.5.3 Solar
9.4.6 Historic and Forecasted Market Size By Application
9.4.6.1 Residential
9.4.6.2 Commercial
9.4.6.3 Industrial
9.4.7 Historic and Forecasted Market Size By End User
9.4.7.1 Agriculture
9.4.7.2 Water & Wastewater Treatment
9.4.7.3 Construction
9.4.7.4 Oil & Gas
9.4.7.5 Industrial & Manufacturing
9.4.7.6 HVAC (Heating
9.4.7.7 Ventilation
9.4.7.8 and Air Conditioning)
9.4.8 Historic and Forecast Market Size by Country
9.4.8.1 Germany
9.4.8.2 UK
9.4.8.3 France
9.4.8.4 The Netherlands
9.4.8.5 Italy
9.4.8.6 Spain
9.4.8.7 Rest of Western Europe
9.5. Asia Pacific Text Analytics Market
9.5.1 Key Market Trends, Growth Factors and Opportunities
9.5.2 Top Key Companies
9.5.3 Historic and Forecasted Market Size by Segments
9.5.4 Historic and Forecasted Market Size By Type
9.5.4.1 Centrifugal Pumps
9.5.4.2 Positive Displacement Pumps
9.5.5 Historic and Forecasted Market Size By Power Source
9.5.5.1 Electric
9.5.5.2 Diesel
9.5.5.3 Solar
9.5.6 Historic and Forecasted Market Size By Application
9.5.6.1 Residential
9.5.6.2 Commercial
9.5.6.3 Industrial
9.5.7 Historic and Forecasted Market Size By End User
9.5.7.1 Agriculture
9.5.7.2 Water & Wastewater Treatment
9.5.7.3 Construction
9.5.7.4 Oil & Gas
9.5.7.5 Industrial & Manufacturing
9.5.7.6 HVAC (Heating
9.5.7.7 Ventilation
9.5.7.8 and Air Conditioning)
9.5.8 Historic and Forecast Market Size by Country
9.5.8.1 China
9.5.8.2 India
9.5.8.3 Japan
9.5.8.4 South Korea
9.5.8.5 Malaysia
9.5.8.6 Thailand
9.5.8.7 Vietnam
9.5.8.8 The Philippines
9.5.8.9 Australia
9.5.8.10 New Zealand
9.5.8.11 Rest of APAC
9.6. Middle East & Africa Text Analytics Market
9.6.1 Key Market Trends, Growth Factors and Opportunities
9.6.2 Top Key Companies
9.6.3 Historic and Forecasted Market Size by Segments
9.6.4 Historic and Forecasted Market Size By Type
9.6.4.1 Centrifugal Pumps
9.6.4.2 Positive Displacement Pumps
9.6.5 Historic and Forecasted Market Size By Power Source
9.6.5.1 Electric
9.6.5.2 Diesel
9.6.5.3 Solar
9.6.6 Historic and Forecasted Market Size By Application
9.6.6.1 Residential
9.6.6.2 Commercial
9.6.6.3 Industrial
9.6.7 Historic and Forecasted Market Size By End User
9.6.7.1 Agriculture
9.6.7.2 Water & Wastewater Treatment
9.6.7.3 Construction
9.6.7.4 Oil & Gas
9.6.7.5 Industrial & Manufacturing
9.6.7.6 HVAC (Heating
9.6.7.7 Ventilation
9.6.7.8 and Air Conditioning)
9.6.8 Historic and Forecast Market Size by Country
9.6.8.1 Turkiye
9.6.8.2 Bahrain
9.6.8.3 Kuwait
9.6.8.4 Saudi Arabia
9.6.8.5 Qatar
9.6.8.6 UAE
9.6.8.7 Israel
9.6.8.8 South Africa
9.7. South America Text Analytics Market
9.7.1 Key Market Trends, Growth Factors and Opportunities
9.7.2 Top Key Companies
9.7.3 Historic and Forecasted Market Size by Segments
9.7.4 Historic and Forecasted Market Size By Type
9.7.4.1 Centrifugal Pumps
9.7.4.2 Positive Displacement Pumps
9.7.5 Historic and Forecasted Market Size By Power Source
9.7.5.1 Electric
9.7.5.2 Diesel
9.7.5.3 Solar
9.7.6 Historic and Forecasted Market Size By Application
9.7.6.1 Residential
9.7.6.2 Commercial
9.7.6.3 Industrial
9.7.7 Historic and Forecasted Market Size By End User
9.7.7.1 Agriculture
9.7.7.2 Water & Wastewater Treatment
9.7.7.3 Construction
9.7.7.4 Oil & Gas
9.7.7.5 Industrial & Manufacturing
9.7.7.6 HVAC (Heating
9.7.7.7 Ventilation
9.7.7.8 and Air Conditioning)
9.7.8 Historic and Forecast Market Size by Country
9.7.8.1 Brazil
9.7.8.2 Argentina
9.7.8.3 Rest of SA
Chapter 10 Analyst Viewpoint and Conclusion
10.1 Recommendations and Concluding Analysis
10.2 Potential Market Strategies
Chapter 11 Research Methodology
11.1 Research Process
11.2 Primary Research
11.3 Secondary Research
Q1: What would be the forecast period in the Text Analytics Market research report?
A1: The forecast period in the Text Analytics Market research report is 2024-2032.
Q2: Who are the key players in the Text Analytics Market?
A2: IBM (USA), SAS Institute (USA), Google (USA), Microsoft (USA), Oracle (USA), Accenture (Ireland), SAP (Germany), Lexalytics (USA), Informatica (USA), RapidMiner (USA) and Other Active Players.
Q3: What are the segments of the Text Analytics Market?
A3: The Text Analytics Market is segmented into By Type, By Application, By End-User Industry and region. By Type, the market is categorized into Descriptive Analytics, Diagnostic Analytics, Predictive Analytics, Prescriptive Analytics. By Application, the market is categorized into Customer Relationship Management (CRM), Social Media Analytics, Business Intelligence, Sentiment Analysis, Market Research, Risk Management. By End-User Industry, the market is categorized into BFSI, Healthcare, Retail, IT & Telecommunications, Media & Entertainment, Government, and Manufacturing. By region, it is analyzed across North America (U.S., Canada, Mexico), Eastern Europe (Russia, Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe), Western Europe (Germany, UK, France, The Netherlands, Italy, Spain, Rest of Western Europe), Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC), Middle East & Africa (Turkiye, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa), South America (Brazil, Argentina, Rest of SA).
Q4: What is the Text Analytics Market?
A4: Text analytics refers to the action of implementing methods for extracting valuable and significant information from large sets of natural language text, which can involve computational linguistics, NLP and machine learning. It comprises the use of statistical and computational techniques to identify sentiment analysis, trends and hidden relations in large and unstructured data such as social media content, emails, documents, customer reviews and so on to allow organizations make data driven business decisions.
Q5: How big is the Text Analytics Market?
A5: Text Analytics Market Size Was Valued at USD 15.55 Billion in 2023, and is Projected to Reach USD 70.03 Billion by 2032, Growing at a CAGR of 18.20 % From 2024-2032.
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