What is Text Analytics Software Market Scope?
Text analytics is a process of analyzing the text content in emails, blogs, tweets, forums, and other forms of textual communication. Text Analytics is the process of discovering new, previously unknown information, by automatically extracting information from different written resources. The growing popularity of text analytics technology is attributed to the rising acceptance of social media platforms and a growing inclination towards cloud technology for data storage. Text analytics software, also known as text mining software, helps users gain insights from both structured and unstructured text data using natural language processing (NLP). Such insights include sentiment analysis, key phrases, language, themes and patterns, and entities, among others. It converts unstructured text data into meaningful data for measurement of the customer opinion, product reviews, feedback, to provide search facility, sentimental analysis and entity modeling to support fact-based decision making.
The Text Analytics Software market study is being classified and major geographies with country level break-up.
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Text Analytics Software market throughout the predicted period.
Microsoft (United States), IBM (United States), QSR International (Australia), Google (United States), SayInt (India), Amazon (United States), SAP SE (German), SAS (United States) and Lexalytics (United States) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Text Analytics Software market by Type, Application and Region.
On the basis of geography, the market of Text Analytics Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
In Nov 2019, OpenText announced new partnerships, services and product integrations to help customers move critical EIM workloads to Google Cloud. As part of this expanded relationship, Google Cloud has selected OpenText as its preferred partner for Enterprise Information Management Services, while OpenText has named Google Cloud its preferred partner for enterprise cloud.
In April 2019, SAP SE announced enhancements to the SAP HANA® database in the cloud and on-premise that provide everyone instant access to critical data and extreme performance to democratize in-memory computing.
Influencing Market Trend
- Increased Adoption of Cloud-Based Solutions
Market Drivers
- High Benefits of the Text Analytics Software
- Increased Applications of Text Analytics Software
Opportunities
- Growing Demand from End-users
- Increasing Applications in Various Industries
Restraints
- High Cost of Text Analytics Software
Challenges
- Technological Complexities associated with Text Analytics Software
Key Target Audience
Text Analytics Software Developers, Emerging Companies, Research Professionals and End-users
Customization available in this Study:
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To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also include significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets , To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.