According to IMARC Group latest report titled” Text Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market exhibited strong growth during 2015-2020. The global [url=https://www.imarcgroup.com/text-analytics-market]text analytics market size[/url] to grow at a CAGR of around 20% during 2021-2026. Text analytics refers to an automated process of translating large amounts of unstructured text, including emails, online reviews, tweets, call center agent notes, etc., to quantitative data. It helps in acquiring insights about trends and related information. Text analytics relies on text mining and natural language processing (NLP) algorithms to find meaning from written communication. It assists organizations in making better decisions by incorporating data visualization tools. At present, organizations across countries widely utilize text analytics to evaluate text in several languages and understand customer opinions.Request to get the sample report: [url]https://www.imarcgroup.com/text-analytics-market/requestsample[/url]
Market Trends:
Due to the sudden outbreak of the COVID-19 pandemic, numerous organizations across the globe are focusing on establishing and improving their online presence, which is driving the text analytics market. Moreover, the rising adoption of text analytics by small and medium-sized enterprises (SMEs) to gain results in real-time is further catalyzing the global market. Text analytics also aids in identifying patterns, improving customer satisfaction, detecting product issues, and monitoring brand reputation, which are positively influencing the market growth. In the coming years, the increasing demand for text analytics across diverse industry verticals, such as retail, healthcare, travel and tourism, military and defense, information technology (IT) and telecommunication, BFSI, etc., is expected to fuel the text analytics market in the coming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
Clarabridge
Infegy
International Business Machines Corporation
Lexalytics Inc.
Luminoso Technologies Inc.
Microsoft Corporation
Open Text Corporation
Oracle Corporation
SAP SE
SAS Institute Inc.
Tableau Software LLC
The Hewlett Packard Enterprise Company
TIBCO Software Inc
Text Analytics Market Segmentation:
Our report has categorized the market based on region, deployment model, organization size, application and end use industry.
Breakup by Deployment Model:
On-premises
Cloud-based
Breakup by Organization Size:
Large Enterprises
Small and Medium Enterprises (SMEs)
Breakup by Application:
Competitive Intelligence
Customer Relationship Management
Predictive Analytics
Fraud Detection
Brand Reputation
Others
Breakup by End User:
Fast Moving Consumer Goods (FMCG)
Banking Financial Services and Insurance (BFSI)
Healthcare and Pharmaceuticals
Telecommunication
Government
Retail
Others
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