Text Analytics Global Market Report 2024

Description

“Text Analytics Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on text analytics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Measure the impact of high global inflation on market growth.
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Outperform competitors using forecast data and the drivers and trends shaping the market.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for text analytics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The text analytics market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Component: Software; Services
2) By Deployment: On-premise; Cloud
3) By Enterprise Size: Large Enterprises; Small and medium Enterprises (SME's)
Companies Mentioned: International Business Machines Corporation; Microsoft Corporation; SAP SE; SAS Institute Inc.; Lexalytics Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Text analytics refers to software or tools designed to automatically convert extensive amounts of unstructured text into quantitative data, enabling the identification of insights, trends, and patterns. This technology empowers businesses, governments, researchers, and the media to harness vast content for informed decision-making.

The main types of text analytics include software and services. The text analytics software segment involves the sale of tools that assist users in extracting insights from both structured and unstructured text data through natural language processing. Examples of insights derived include sentiment analysis, key phrases, language, themes and patterns, entities, and more. This software can be deployed on-premise or in the cloud and is applicable to both large enterprises and SMEs. Text analytics solutions find applications across various industries such as BFSI, healthcare, energy and utilities, retail, e-commerce, and others. These solutions are employed for purposes like risk management, fraud detection, business intelligence, social media analysis, and customer care services.

The text analytics market research report is one of a series of new reports from The Business Research Company that provides text analytics market statistics, including text analytics industry global market size, regional shares, competitors with a text analytics market share, detailed text analytics market segments, market trends and opportunities, and any further data you may need to thrive in the text analytics industry. This text analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The text analytics market size has grown rapidly in recent years. It will grow from $9. 35 billion in 2023 to $11. 09 billion in 2024 at a compound annual growth rate (CAGR) of 18. 6%. The growth observed in the historical period can be attributed to factors such as the explosion of data, a demand for actionable insights, the enhancement of customer experience, regulatory compliance requirements, and the pursuit of competitive intelligence.

The text analytics market size is expected to see rapid growth in the next few years. It will grow to $22. 88 billion in 2028 at a compound annual growth rate (CAGR) of 19. 8%.

The anticipated growth in the forecast period can be attributed to the adoption of industry-specific solutions, the integration of multilingual text analytics, the utilization of predictive analytics and forecasting, and the implementation of automated report generation. Noteworthy trends expected in this period include a heightened focus on explainability in AI models, the emergence of voice-to-text analytics, advancements in multilingual text analytics, increased integration of artificial intelligence and machine learning, automation in text summarization, and enhancements in conversational AI and chatbots.

The text analytics market is experiencing growth, propelled by the increasing demand for social media analytics. Social media analytics involves collecting data from platforms and blogs, analyzing it to inform business decisions. The surge in social media use globally, with over 3. 6 billion users projected to reach 4. 41 billion by 2025, has led organizations to adopt text analytics techniques like sentiment analysis and event detection. According to the Content Marketing Institute, more than 81% of global organizations are utilizing social media analytics tools, showcasing a rising demand that is expected to drive the growth of the text analytics industry.

The expansion of cloud computing is anticipated to be a driving force in the growth of the text analytics market. Cloud computing, enabling access to computing resources over the internet without physical ownership, has found utility in text analytics for enhancing decision-making processes and harnessing unstructured data. In 2022, the United States contributed to 45% of total cloud service revenues, projected to allocate over $258 billion toward public cloud services in 2023. Increased adoption of hybrid cloud and the use of multiple public clouds further supports the expectation that heightened cloud computing will drive the growth of the text analytics market.

A key trend in the text analytics market is technological innovation, with companies focusing on developing advanced solutions to meet specific demands. In March 2021, Kensho Communications introduced Kensho NERD, a machine-learning system for Named Entity Recognition and Disambiguation, enhancing the exploitation of textual data by linking entities mentioned in documents to corresponding database records.

Major companies in the text analytics industry are embracing strategic partnerships to deliver essential services. AppTek and expert. ai collaborated to launch AI-based text analytics for dynamic audio content in multiple languages, combining the natural language understanding expertise of expert. ai with AppTek's proficiency in automatic speech recognition and neural machine translation technologies. This partnership aims to empower organizations to leverage audio content for enhanced intelligent automation and decision-making.

In September 2021, InMoment's acquisition of Lexalytics, an Experience Improvement (XI) TM solutions provider acquiring a leader in text analytics and natural language processing, showcases strategic moves within the industry. The acquisition enhances organizations' flexibility in adopting various text analytics infrastructures and opens up new market opportunities.

Major companies operating in the in the text analytics market report are International Business Machines Corporation, Microsoft Corporation, SAP SE, SAS Institute Inc., Lexalytics Inc., Luminoso Technologies Inc., Clarabridge Inc., Micro Focus International PLC, OpenText Corporation, RapidMiner Inc., Infegy Inc., Medallia Inc., Megaputer Intelligence Inc., Oracle Corporation, TIBCO Software Inc., Bitext Innovations SL, Basis Technology Corporation, MeaningCloud LLC, KNIME. com AG, Averbis GmbH, bizAmica Software Pvt. Ltd., Kingland Systems, Capgemini SE, NICE Ltd., Verint Systems Inc., Amazon Web Services Inc., Expert System S. p. A., Aylien Ltd., Provalis Research, Linguamatics Ltd.

North America was the largest region in the text analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the text analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the text analytics market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The text analytics market includes revenues earned by entities by providing solutions that understand, analyze, and derive insights from unstructured text into quantitative data by utilizing sentiment analysis, topic modeling, named entity recognition, term frequency, and event extraction techniques. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10626

1. Executive Summary

2. Text Analytics Market Characteristics

3. Text Analytics Market Trends And Strategies

4. Text Analytics Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Text Analytics Market Size and Growth

5.1. Global Text Analytics Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Text Analytics Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Text Analytics Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Text Analytics Market Segmentation

6.1. Global Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Software
Services
6.2. Global Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-Premises
Cloud
6.3. Global Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Large Enterprises
Small and medium Enterprises (SME's)

7. Text Analytics Market Regional And Country Analysis

7.1. Global Text Analytics Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Text Analytics Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Text Analytics Market

8.1. Asia-Pacific Text Analytics Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. 4. Asia-Pacific Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Text Analytics Market

9.1. China Text Analytics Market Overview
9.2. China Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9. 4. China Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Text Analytics Market

10.1. India Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Text Analytics Market

11.1. Japan Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Text Analytics Market

12.1. Australia Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Text Analytics Market

13.1. Indonesia Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Text Analytics Market

14.1. South Korea Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Text Analytics Market

15.1. Western Europe Text Analytics Market Overview
15.2. Western Europe Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. 4. Western Europe Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Text Analytics Market

16.1. UK Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Text Analytics Market

17.1. Germany Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Text Analytics Market

18. 5. France Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 6. France Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 7. France Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Text Analytics Market

19. 9. Italy Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Text Analytics Market

20.13. Spain Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Text Analytics Market

21.1. Eastern Europe Text Analytics Market Overview
21.2. Eastern Europe Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. 4. Eastern Europe Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Text Analytics Market

22.1. Russia Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Text Analytics Market

23.1. North America Text Analytics Market Overview
23.2. North America Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. 4. North America Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Text Analytics Market

24.1. USA Text Analytics Market Overview
24.2. USA Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. 4. USA Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Text Analytics Market

25.1. Canada Text Analytics Market Overview
25.2. Canada Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. 4. Canada Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Text Analytics Market

26.1. South America Text Analytics Market Overview
26.2. South America Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. 4. South America Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Text Analytics Market

27.1. Brazil Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Text Analytics Market

28.1. Middle East Text Analytics Market Overview
28.2. Middle East Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. 4. Middle East Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Text Analytics Market

29.1. Africa Text Analytics Market Overview
29.2. Africa Text Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Text Analytics Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. 4. Africa Text Analytics Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Text Analytics Market Competitive Landscape And Company Profiles

30.1. Text Analytics Market Competitive Landscape
30.2. Text Analytics Market Company Profiles
- 30.2.1. International Business Machines Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1. 4. Financial Performance
- 30.2.2. Microsoft Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2. 4. Financial Performance
- 30.2.3. SAP SE
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3. 4. Financial Performance
- 30.2. 4. SAS Institute Inc.
  - 30.2. 4.1. Overview
  - 30.2. 4.2. Products and Services
  - 30.2. 4.3. Strategy
  - 30.2. 4. 4. Financial Performance
- 30.2. 5. Lexalytics Inc
  - 30.2. 5.1. Overview
  - 30.2. 5.2. Products and Services
  - 30.2. 5.3. Strategy
  - 30.2. 5. 4. Financial Performance

31. Global Text Analytics Market Competitive Benchmarking

32. Global Text Analytics Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Text Analytics Market

34. Text Analytics Market Future Outlook and Potential Analysis

34.1 Text Analytics Market In 2028 - Countries Offering Most New Opportunities
34.2 Text Analytics Market In 2028 - Segments Offering Most New Opportunities
34. 3 Text Analytics Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35. 4. Research Inquiries
35. 5. The Business Research Company
35. 6. Copyright And Disclaimer