Text Analytics Market Overview:

Maximize Market Research, a Text Analytics business research firm has published a report on the “Text Analytics Market”. Which provides Industry Analysis (Market Performance, Segments, Price Analysis, and Outlook).

Estimated Growth Rate for Text Analytics Market:

The market for text analytics was estimated to be worth USD 15.54 billion in 2023 and is projected to increase at a compound annual growth rate (CAGR) of 18.9% to reach USD 52.21 billion by 2030.
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Text Analytics Market Report Scope and Research Methodology:

The scope of the Text Analytics market analysis encompasses diverse factors, including geographical regions, industry segments, traveller types, and travel service offerings. Research methodologies integrate primary and secondary data collection, employing surveys, interviews, and analysis of industry reports and databases. Assessing the Text Analytics market scope involves examining the volume and value of business travel transactions, covering expenditures on transportation, accommodation, dining, and ancillary services. Methodologies aim to identify key trends, challenges, and opportunities influencing the market landscape. This comprehensive approach provides valuable insights for strategic decision-making, aiding businesses in navigating the complexities of the Text Analytics sector and capitalizing on growth prospects.

Text Analytics Market Regional Insights:

Improved dependability and increasing demand drive growth in the Text Analytics Market, particularly in North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Geographical observations help investors identify opportunities, with regional evaluations highlighting crucial strategies like mergers and acquisitions. Understanding regional dynamics enables stakeholders to tailor their approaches, leveraging growth prospects and addressing specific Text Analytics market needs. This insight is vital for informed decision-making and strategic planning across diverse geographic landscapes.

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Text Analytics Market Segmentation:

by Component

Software
Services

The software category accounted for the highest portion of the text analytics market in 2023. This is because text analytics software is the essential element of the industry, offering the platforms and tools required to analyze unstructured textual data. Natural language processing (NLP) engines are among these software options, among many more. Numerous industries, such as customer experience management, market research, social media monitoring, healthcare analytics, fraud detection, and compliance monitoring, can benefit from the use of text analytics software. These elements support the segment's supremacy. Text analytics software is now much more accurate, scalable, and efficient because to the ongoing developments in AI, machine learning, and natural language processing. Although services are equally important in text analytics, software dominates the market because of its critical role in quick
by Deployment Mode

On premises
Cloud based
by Application

Customer experience management (CEM)
Government risk & compliance
Document Management
Others

In 2023, the customer experience management category held the most market share in the text analytics industry. This is because businesses place a high value on knowing their customers' preferences and feedback in order to improve their products and services, which in turn increases customer happiness and retention. Text mining aids businesses in gathering information and growing by processing and analyzing customer data sets. CEM groups employ proactive ways to improve the total customer experience by utilizing predictive analytics to foresee consumer behavior. Text analysis is used in CEM for more than just handling minor grievances; it also helps identify the underlying reasons for customer discontent, enabling businesses to resolve problems and stop them from happening again.
by Industry

Banking & Finance
Telecommunication & IT
Healthcare
Others

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Table of Content: Text Analytics Market

Part 01: Executive Summary

Part 02: Scope of the Text Analytics Market Report

Part 03: Global Text Analytics Market Landscape

Part 04: Global Text Analytics Market Sizing

Part 05: Global Text Analytics Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Text Analytics Market Key Players:

1. IBM Corporation (US)
2. SAS Institute (US)
3. Microsoft Corporation (US)
4. SAP SE (Germany)
5. Google LLC (US)
6. Amazon Web Services, Inc. (US)
7. Clarabridge (US)
8. OpenText Corporation (Canada)
9. RapidMiner (Boston)
10. KNIME (Switzerland)
11. Lexalytics (US)
12. Expert System (China)
13. Averbis (Germany)
14. Bitext (Spain)
15. Angoss Software Corporation (Canada)
16. Luminoso Technologies, Inc. (India)
17. MeaningCloud (New York)
18. Megaputer Intelligence (US)
19. Altair Engineering, Inc. (US)
20. MonkeyLearn (California)

Key questions answered in the Text Analytics Market are:

• Who are the leading companies and what are their portfolios in Text Analytics Market? 
• What segments are covered in the Text Analytics Market?
• Who are the key players in the Text Analytics market?
• What is Text Analytics?
• What is the growth rate of the Text Analytics Market?
• Which are the factors expected to drive the Text Analytics market growth?
• What are the different segments of the Text Analytics Market?
• What growth strategies are the players considering to increase their presence in Text Analytics?
• What are the upcoming industry applications and trends for the Text Analytics Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Text Analytics Market?
• What segments are covered in the Text Analytics Market?

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