Sentiment Analytic Market Scope
Sentiment analytics is the method of employing natural language processing, machine learning, and other computational approaches to evaluate and comprehend the sentiment represented in textual data is known as sentiment analytics, and it is used as opinion mining or emotion AI. In addition to identifying certain emotions or viewpoints, the objective is to ascertain whether a text expresses a favourable, negative, or neutral attitude. Sentiment analytics is anticipated to grow further as technological advancements, more industry use, and the integration of sentiment analytics into various corporate processes will all contribute to its future growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Microsoft (United States), Amazon Web Services, Inc. (United States), Altair Engineering, Inc. (United States), Quantexa (United States), Brandwatch (United Kingdom), Aventior, Inc. (United States), Userlytics (United States), SAS Institute Inc. (United States), IBM Corporation (United States) and Lexalytics, Inc. (United States) |
CAGR | % |
Companies are entering into the sentiment analytics market to increase recognition of the value that sentiment analysis can bring to businesses. Sentiment analytics enables companies to gain deeper insights into customer opinions, preferences, and feedback. Understanding customer sentiments helps businesses make informed decisions regarding product development, marketing strategies, and customer service improvements. Monitoring sentiment around a brand is crucial for reputation management. Companies use sentiment analysis to track how their brand is perceived in the market and identify potential issues that could impact brand image.
Microsoft (United States), Amazon Web Services, Inc. (United States), Altair Engineering, Inc. (United States), Quantexa (United States), Brandwatch (United Kingdom), Aventior, Inc. (United States), Userlytics (United States), SAS Institute Inc. (United States), IBM Corporation (United States) and Lexalytics, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are MeaningCloud LLC (United States), Cogito (United States), Repustate Inc. (Canada), SpazioDati S.r.l. (Italy), TextRazor Ltd. (United Kingdom), Kairos AR, Inc. (United States) and Qualtrics (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Sentiment Analytic market by Type and Region with country level break-up.
On the basis of geography, the market of Sentiment Analytic has been segmented into
. region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In January 2024, Babel Street, a prominent provider of solutions for identity intelligence and risk operations, acquired Vertical Knowledge, a leading company specializing in data products, insights, and intelligence. This acquisition represents a substantial expansion of Babel Street's capabilities in data sourcing, enrichment, and analysis. It positions Babel Street to elevate high-stakes identity and risk operations into a strategic advantage for organizations on a global scale.
In September 2023, Userlytics, a leading global testing and research company launched advanced artificial intelligence sentiment analytics to its enterprise to provide user experience optimization platform capabilities.
Influencing Trend:
Organizations are monitoring and managing their brand reputation by using sentiment analytics and Companies are adopting real-time sentiment analysis to gain immediate insights into customer opinions and perception
Market Growth Drivers:
Rising Importance of Customer Experience in Private Organizations and Increasing awareness and understanding of artificial intelligence (AI) and analytics in the industry
Challenges:
Sentiment analytics models can be biased due to misinterpreted sentiment in the data
Restraints:
Sentiment analytics struggles to accurately interpret sarcasm, irony, and other forms of figurative language
Opportunities:
The integration of sentiment analytics into other business intelligence and analytics platforms is becoming more seamless and Social media platforms extensive usage has generated enormous volumes of content created by users.
Key Target Audience
Software Companies, Service Providers, Government Agencies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End User Industry and Others