Text Analytics Market Insights and Growth by 2031
The text analytics market is expected to grow from US$ 8.45 billion in 2022 to US$ 27.63 billion by 2031; it is estimated to record a CAGR of 20.4% from 2022 to 2031.
Text analytics plays an increasingly important role in several use cases across different industry verticals. For example, the insurance industry has different and distinct use cases such as claims automation, policy review, and risk engineering that require text analysis. Text analytics allows insurance companies to locate specific information within minimal time. Digital advertising is another end use of text analytics. Unlike a cookie-based approach, contextual advertising analyzes text on a webpage to understand content in an in-depth manner. Widening number of industries using text analytics would drive the overall text analytics market growth.
Owing to increasing competitiveness, companies are seeking advanced analytical solutions capable of utilizing large volumes of data, thereby aiding in better and faster decision-making. With the use of sentiment analysis and voice-of-customer (VoC) solutions, companies can improve customer intimacy and service quality, which enables them to drive customer satisfaction, loyalty, and revenue. The use of text analytics solutions in risk management and fraud detection application in the banking and financial sector helps save millions of dollars over a deal. This will further contribute towards the growth of text analytics market.
Text categorization is one of the prominent use cases of text analytics. The process is based on machine learning and models taken from current datasets, further matching the model data sets with new datasets for making predictions. In text categorization, the end user’s system is fed with a pre-built set of text examples and their relevant categories. A machine learning algorithm learns how each text is categorized and creates rules for itself. When new text is presented, it applies these rules to categorize it. This supervised learning-based approach to text categorization saves the time and effort required to set and implement new rules. Growing demand for text categorization will help in fueling the text analytics market growth.
Strategic Insights
Regional Analysis of Text Analytics Market
APAC ranked third in terms of text analytics market share in 2022. Continuous growth in the retail, banking, fast-moving consumer goods (FMCG), and healthcare sectors in emerging markets of the Philippines, China, India, and Australia have attracted several international enterprises targeting these economies for the expansion of their business. With the expansion of business into the mentioned countries, their day-to-day functions would create enormous amounts of unstructured text through. This factor is projected to develop growth opportunities for vendors operating in APAC and thus impacting text analytics market. Also, the proliferation of the healthcare sector in Australia, Japan, Taiwan, South Korea, China, Singapore, etc., is anticipated to generate significant demand for text analytics platforms owing to the generation of huge amount of unstructured textual data. ~80% of biomedical data created is unstructured text, which requires text analytics solutions to unlock insights with the use of natural language processing-based solutions.
Owing to continuous technological advancements, it is projected that the advent of different AI regulations in the US, Europe, and Asia will promote the adoption of AI solutions in Asia Pacific by 2031. This adoption will further triggering the machine learning and automated machine learning platform penetration. The use of machine learning platforms would lead to new data categories, thereby expanding the scope of text categorization.
During the COVID-19 pandemic, people’s participation on Twitter, Facebook, and other popular social media platform was tremendous. Twitter was s preferred platform to gather public opinions in the form of comments, reviews, and posts related to COVID-19. Later, different models, tools, and matrices, as well as sentimental analysis, were utilized for classifying public opinions on COVID-19, and also to know situation across the world. The pandemic has positively fueled the text analytics market.
Market Insights – Text Analytics Market
Industry Vertical-Based Insights
Based on industry vertical, the text analytics market size is segmented into BFSI, IT & telecom, healthcare, government & defense, education, retail, manufacturing, and others. In 2022, the BFSI segment accounted for the largest text analytics market share. It includes insurance agencies, commercial banks, mutual funds, non-banking financial companies, cooperatives, banks, and broking firms. Text analytics in the BFSI sector provides a new opportunity for fraud detection. Fraud detection in this sector is achieved through social network analysis or predictive analysis, among other methods. Using text analytics as a method for fraud detection has increased the identification of frauds by more than 50%, as these types of analysis have an accuracy of almost 90%.
The aforesaid stakeholders in the BFSI sector end up into generating and consuming massive amount of unstructured text data from various sources. Thu, the use of advanced text analytics solutions helps the BFSI sector in making data-driven decisions. Topic labeling, intent detection gender detection, semantic similarities keyword extraction, and entity extraction are few text analytics solutions used by financial service providers.
The text analytics market players are mainly focused on developing advanced and efficient products.
- In December 2022, Canvs AI unveiled translation for Canvs MRX. This will allow customers to directly analyze open-ended text available in various languages on the Canvs platform. Based on Google Cloud Translation, the translation for Canvs MRX automatically identifies language of an open-ended text on import and translates it to English for processing on Canvs platform.
- In September 2022, expert.ai and AppTek signed a strategic partnership to introduce their AI-based text analytics solution for dynamic audio content in multiple languages. Through this partnership, Automatic Speech Recognition and Neural Machine Translation technologies of AppTek, in combination with natural language understanding capabilities of expert.ai, will allow organizations to take advantages of audio content in an unstructured data set.
The text analytics market size is segmented into five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa, and South America. In 2022, North America led the market with a substantial revenue share, followed by Europe.
Angoss Software Corporation; Averbis GmbH; Bitext Innovations S.L.; Cambridge Semantics, Inc.; Clarabridge; Clarivate Analytics; RapidMiner Inc. (Altair); Expert System Group; Linguamatics; Basis Technology; SciBite; KNIME; IBM Corporation; Quertle Right Signature LLC; Semantria (Lexalytics); OpenText Corp; Thomson Reuters; Biomax Informatics AG; Elsevier; SAP SE; and SAS Institute Inc. are among the key text analytics market players profiled in the study. The report provides detailed market insights that help text analytics market players to implement various growth strategies.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Deployment Type , Technology , Application, and Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Table of Contents
1 Table of Contents
1.1 List of Tables
1.2 List of Figures
2 Introduction
2.1 Scope of the Study
2.2 The Insight Partners Research Report Guidance
3 Key Takeaways
4 Market Landscape
4.1 Market Overview
4.2 Market Segmentation
4.2.1 Global Text Analytics Market - By Deployment Model
4.2.2 Global Text Analytics Market - By Technology
4.2.3 Global Text Analytics Market - By Application
4.2.4 Global Text Analytics Market - By Verticals
4.2.5 Global Text Analytics Market - By Geography
4.3 PEST Analysis
4.3.1 North America PEST Analysis
4.3.2 Europe PEST Analysis
4.3.3 Asia Pacific PEST Analysis
4.3.4 Middle East and Africa PEST Analysis
4.3.5 South America PEST Analysis
5 Global Text Analytics Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Increasing competitive nature are making companies to seek for value added solutions
5.1.2 Range of application and opportunities across diverse fields is driving the growth of the market
5.2 Key Market Restraints
5.2.1 Lack of analytical talent and linguistic abilities is inhibiting the growth of the market
5.2.2 Vendors providing subscription based propriety services may face challenge from availability of free/ open source tool
5.3 Key Market Opporunities
5.3.1 Rising unstructured data set is the next pillar of growth in global text analytics market
5.3.2 Development of software / platforms with combination of features may create high revenue growth opportunity for vendors in the global text analytics market
5.4 Future Trends
5.4.1 With increase in internet penetration and social media usage, analysis of text will become the crucial part of business process
5.4.2 Vendors forming strategic alliance with data related solution providers
5.5 Impact Analysis of Drivers and Restraints
6 Text Analytics Market - Global
6.1 Global Text Analytics Market Overview
6.2 Global Text Analytics Market Forecast and Analysis
7 Global Text Analytics Market Analysis - By Deployment Model
7.1 Overview
7.2 On-Premise
7.2.1 Overview
7.2.2 Global on-premises Market Revenue and Forecasts to 2025 (US$ Bn)
7.3 Cloud
7.3.1 Overview
7.3.2 Cloud Market Revenue and Forecasts to 2025 (US$ Bn)
8 Global Text Analytics Market Analysis - By Technology
8.1 Overview
8.2 NLP
8.2.1 Overview
8.2.2 Global NLP Market Revenue and Forecasts to 2025 (US$ Bn)
8.3 Automated Machine Learning
8.3.1 Overview
8.3.2 Global Automated Machine Learning Market Revenue and Forecasts to 2025 (US$ Bn)
8.4 Hybrid
8.4.1 Overview
8.4.2 Global Hybrid Market Revenue and Forecasts to 2025 (US$ Bn)
9 Global Text Analytics Market Analysis - By Application
9.1 Overview
9.2 Predictive Analysis
9.2.1 Overview
9.2.2 Global Predictive Analysis Market Revenue and Forecasts to 2025 (US$ Bn)
9.3 Social Media Monitoring
9.3.1 Overview
9.3.2 Global Social Media Monitoring Market Revenue and Forecasts to 2025 (US$ Bn)
9.4 Fraud/Spam Detection
9.4.1 Overview
9.4.2 Global Fraud/Spam Detection Market Revenue and Forecasts to 2025 (US$ Bn)
9.5 Competitive Intelligence
9.5.1 Overview
9.5.2 Global Competitive Intelligence Market Revenue and Forecasts to 2025 (US$ Bn)
9.6 Others
9.6.1 Overview
9.6.2 Global Others Market Revenue and Forecasts to 2025 (US$ Bn)
10 Global Text Analytics Market Analysis - By Verticals
10.1 Overview
10.2 Banking, Financial Services and Insurance (BFSI)
10.2.1 Overview
10.2.2 Global BFSI Market Revenue and Forecasts to 2025 (US$ Bn)
10.3 Telecom Sector
10.3.1 Overview
10.3.2 Global Telecom Sector Market Revenue and Forecasts to 2025 (US$ Bn)
10.4 Government
10.4.1 Overview
10.4.2 Global Government Market Revenue and Forecasts to 2025 (US$ Bn)
10.5 Fast Moving ConsumerGoods (FMCG)
10.5.1 Overview
10.5.2 Global FMCG Market Revenue and Forecasts to 2025 (US$ Bn)
10.6 Pharmaceuticals
10.6.1 Overview
10.6.2 Global Pharmaceuticals Market Revenue and Forecasts to 2025 (US$ Bn)
10.7 Legal and Intellectual Property
10.7.1 Overview
10.7.2 Global Legal and Intellectual Property Market Revenue and Forecasts to 2025 (US$ Bn)
10.8 Academia and Education
10.8.1 Overview
10.8.2 Global Academia and Education Market Revenue and Forecasts to 2025 (US$ Bn)
10.9 Chemistry and Materials
10.9.1 Overview
10.9.2 Global Chemistry and Materials Market Revenue and Forecasts to 2025 (US$ Bn)
10.1 Healthcare
10.10.1 Overview
10.10.2 Global Healthcare Market Revenue and Forecasts to 2025 (US$ Bn)
10.11 Retail
10.11.1 Overview
10.11.2 Global Retail Market Revenue and Forecasts to 2025 (US$ Bn)
10.12 Others
10.12.1 Overview
10.12.2 Global Others Market Revenue and Forecasts to 2025 (US$ Bn)
11 Global Text Analytics Market - Geographical Analysis
11.1 Overview
11.2 North America Text Analytics Market Revenue and Forecasts to 2025
11.2.1 Overview
11.2.2 North America Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.2.3 North America Text Analytics Market Breakdown by Key Countries
11.2.3.1 U.S. Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.2.3.2 Canada Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.2.3.3 Mexico Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.2.4 North America Text Analytics Market Breakdown by Deployment Model
11.2.5 North America Text Analytics Market Breakdown by Technology
11.2.6 North America Text Analytics Market Breakdown by Application
North America Text Analytics Market Breakdown by Verticals 105
11.3 Europe Text Analytics Market Revenue and Forecasts to 2025
11.3.1 Overview
11.3.2 Europe Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.3.3 Europe Text Analytics Market Breakdown by Key Countries
11.3.3.1 France Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.3.3.2 Germany Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.3.3.3 UK Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.3.3.4 Italy Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.3.3.5 Spain Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.3.4 Europe Text Analytics Market Breakdown by Deployment Model
11.3.5 Europe Text Analytics Market Breakdown by Technology
11.3.6 Europe Text Analytics Market Breakdown by Application
11.3.7 Europe Text Analytics Market Breakdown by Verticals
11.4 Asia Pacific (APAC) Text Analytics Market Revenue and Forecasts to 2025
11.4.1 Overview
11.4.2 Asia Pacific Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.4.3 Asia Pacific Text Analytics Market Breakdown by Key Countries
11.4.3.1 Japan Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.4.3.2 China Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.4.3.3 Australia Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.4.3.4 India Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.4.4 Asia Pacific Text Analytics Market Breakdown by Deployment Model
11.4.5 Asia Pacific Text Analytics Market Breakdown by Technology
11.4.6 Asia Pacific Text Analytics Market Breakdown by Application
11.4.7 Asia Pacific Text Analytics Market Breakdown by Verticals
11.5 Middle East & Africa (MEA) Text Analytics Market Revenue and Forecasts to 2025
11.5.1 Overview
11.5.2 Middle East & Africa Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.5.3 Middle East & Africa Text Analytics Market Breakdown by Key Countries
11.5.3.1 UAE Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.5.3.2 South Africa Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.5.3.3 Saudi Arabia Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.5.4 Middle East & Africa Text Analytics Market Breakdown by Deployment model
11.5.5 Middle East & Africa Text Analytics Market Breakdown by Technology
11.5.6 Middle East & Africa Text Analytics Market Breakdown by Application
11.5.7 Middle East & Africa Text Analytics Market Breakdown by Verticals
11.6 South America Text Analytics Market Revenue and Forecasts to 2025
11.6.1 Overview
11.6.2 South America Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.6.3 South America Text Analytics Market Breakdown by Key Countries
11.6.3.1 Brazil Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
11.6.4 South America Text Analytics Market Breakdown by Deployment Model
11.6.5 South America Text Analytics Market Breakdown by Technology
11.6.6 South America Text Analytics Market breakdown by Application
11.6.7 South America Text Analytics Market breakdown by Verticals
12 Global Text Analytics Market - Key Company Profiles
12.1 Angoss Software Corporation
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Financial Overview
12.1.4 SWOT Analysis
12.1.5 Key Developments
12.2 Averbis GmbH
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Financial Overview
12.2.4 SWOT Analysis
12.3 Bitext Innovations S.L.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Financial Overview
12.3.4 SWOT Analysis
12.3.5 Key Developments
12.4 Cambridge Semantics, Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Financial Overview
12.4.4 SWOT Analysis
12.4.5 Key Developments
12.5 Clarabridge
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Financial Overview
12.5.4 SWOT Analysis
12.5.5 Key Developments
12.6 Clarivate Analytics
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Financial Overview
12.6.4 SWOT Analysis
12.6.5 Key Developments
12.7 RapidMiner Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Financial Overview
12.7.4 SWOT Analysis
12.7.5 Key Developments
12.8 Expert System Group
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Financial Overview
12.8.4 SWOT Analysis
12.8.5 Key Developments
12.9 Linguamatics
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Financial Overview
12.9.4 SWOT Analysis
12.9.5 Key Developments
12.1 Basis Technology
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Financial Overview
12.10.4 SWOT Analysis
12.10.5 Key Developments
12.11 SciBite
12.11.1 Key Facts
12.11.2 Business Description
12.11.3 Financial Overview
12.11.4 SWOT Analysis
12.11.5 Key Developments
12.12 KNIME
12.12.1 Key Facts
12.12.2 Business Description
12.12.3 Financial Overview
12.12.4 SWOT Analysis
12.12.5 Key Developments
12.13 IBM Corporation
12.13.1 Key Facts
12.13.2 Business Description
12.13.3 Financial Overview
12.13.4 SWOT Analysis
12.13.5 Key Developments
12.14 Quertle
12.14.1 Key Facts
12.14.2 Business Description
12.14.3 Financial Overview
12.14.4 SWOT Analysis
12.14.5 Key Developments
12.15 Right Signature LLC.
12.15.1 Key Facts
12.15.2 Business Description
12.15.3 Financial Overview
12.15.4 SWOT Analysis
12.15.5 Key Developments
12.16 Lexalytics
12.16.1 Key Facts
12.16.2 Business Description
12.16.3 Financial Overview
12.16.4 SWOT Analysis
12.16.5 Key Developments
12.17 OpenText Corp.
12.17.1 Key Facts
12.17.2 Business Description
12.17.3 Financial Overview
12.17.4 SWOT Analysis
12.17.5 Key Developments
12.18 Thomson Reuters
12.18.1 Key Facts
12.18.2 Business Description
12.18.3 Financial Overview
12.18.4 SWOT Analysis
12.18.5 Key Developments
12.19 Semantria, Inc.
12.19.1 Key Facts
12.19.2 Business Description
12.19.3 Financial Overview
12.19.4 SWOT Analysis
12.19.5 Key Developments
12.2 Biomax Informatics AG
12.20.1 Key Facts
12.20.2 Business Description
12.20.3 Financial Overview
12.20.4 SWOT Analysis
12.20.5 Key Developments
12.21 Elsevier
12.21.1 Key Facts
12.21.2 Business Description
12.21.3 Financial Overview
12.21.4 SWOT Analysis
12.21.5 Key Developments
12.22 SAP SE
12.22.1 Key Facts
12.22.2 Business Description
12.22.3 Financial Overview
12.22.4 SWOT Analysis
12.22.5 Key Developments
12.23 SAS Institute Inc.
12.23.1 Key Facts
12.23.2 Business Description
12.23.3 Financial Overview
12.23.4 SWOT Analysis
12.23.5 Key Developments
13 Competitive Landscape
13.1 Market Positioning - Global Top 10 Players Ranking
14 Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
14.3 Methodology
14.3.1 Coverage
14.3.2 Secondary Research
14.3.3 Primary Research
14.4 Contact Us
14.5 Disclaimer
1.1 List of Tables
Table 1: Global Text Analytics Market Revenue and Forecasts to 2025 - (US$ Bn)
Table 2: North America Text Analytics Market Revenue and Forecasts to 2025 - By Deployment Model (US$ Bn)
Table 3: North America Text Analytics Market Revenue and Forecasts to 2025 - By Technology (US$ Bn)
Table 4: North America Text Analytics Market Revenue and Forecasts to 2025 - By Application (US$ Bn)
Table 5: North America Text Analytics Market Revenue and Forecasts to 2025 - By Verticals (US$ Bn)
Table 6: Europe Text Analytics Market Revenue and Forecasts to 2025 - By Deployment Model (US$ Bn)
Table 7: Europe Text Analytics Market Revenue and Forecasts to 2025 - By Technology (US$ Bn)
Table 8: Europe Text Analytics Market Revenue and Forecasts to 2025 - By Application (US$ Bn)
Table 9: Europe Text Analytics Market Revenue and Forecasts to 2025 - By Verticals (US$ Bn)
Table 10: Asia Pacific Text Analytics Market Revenue and Forecasts to 2025 - By Deployment Model (US$ Bn)
Table 11: Asia Pacific Text Analytics Market Revenue and Forecasts to 2025 - By Technology
Table 12: Asia Pacific Text Analytics Market Revenue and Forecasts to 2025 - By Application
Table 13: Asia Pacific Text Analytics Market Revenue and Forecasts to 2025 - By Verticals
Table 14: Middle East & Africa Text Analytics Market Revenue and Forecasts to 2025 - By Deployment Model (US$ Bn)
Table 15: Middle East & Africa Text Analytics Market Revenue and Forecasts to 2025 - By Technology (US$ Bn)
Table 16: Middle East & Africa Text Analytics Market Revenue and Forecasts to 2025 - By Application (US$ Bn)
Table 17: Middle East & Africa Text Analytics Market Revenue and Forecasts to 2025 - By Application (US$ Bn)
Table 18: South America Text Analytics Market Revenue and Forecasts to 2025 - By Deployment Model (US$ Bn)
Table 19: South America Text Analytics Market Revenue and Forecasts to 2025 - By Technology (US$ Bn)
Table 20: South America Text Analytics Market Revenue and Forecasts to 2025 - By Application (US$ Bn)
Table 21: South America Text Analytics Market Revenue and Forecasts to 2025 - By Application (US$ Bn)
Table 22: Glossary of Terms, Text Analytics Market
1.2 List of Figures
Figure 1: Text Analytics Market, Global Revenue (US$ Bn), 2016 & 2025
Figure 2: Retail Text Analytics Market, Global Revenue (US$ Bn), 2016 & 2025
Figure 3: NLP Technology Market, Global Revenue (US$ Bn), 2016 & 2025
Figure 4:North America Text Analytics Market, Global Revenue (US$ Bn), 2016 & 2025 23
Figure 5: Text Analytics Market Segmentation
Figure 6: Text Analytics Market Segmentation, By Region
Figure 7: North America PEST Analysis
Figure 8: Europe PEST Analysis
Figure 9: APAC PEST Analysis
Figure 10: MEA PEST Analysis
Figure 11: SAM PEST Analysis
Figure 12: Text Analytics Market Impact Analysis of Driver and Restraints
Figure 13: Global Text Analytics Market Breakdown By Deployment Type Model, 2016 & 2025 (%)
Figure 14: On-premise Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 15: Cloud Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 16: Global Text Analytics Market Breakdown By Technology, 2016 & 2025 (%)
Figure 17: Global NLP Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 18: Global Automated Machine Learning (AML) Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 19: Global Hybrid Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 20: Global Text Analytics Market Breakdown By Application, 2016 & 2025 (%)
Figure 21: Global Predictive Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 22: Global Social Media Monitoring Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 23: Global Fraud/Spam Detection Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 24: Global Competitive Intelligence Market Revenue and Forecasts to 2025 (US$ Bn) 72
Figure 25: Global Others Market Revenue and Forecasts to 2025 (US$ Bn) 74
Figure 26: Global Text Analytics Market Breakdown By Verticals, 2016 & 2025 (%)
Figure 27: Global BFSI Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 28: Global Telecom Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 29: Global Government Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 30: Global FMCG Market Revenue and Forecasts to 2025 (US$ Bn) 83
Figure 31: Global Pharmaceutical Market Revenue and Forecasts to 2025 (US$ Bn) 84
Figure 32: Global Legal and Intellectual Property Market Revenue and Forecasts to 2025 (US$ Bn) 86
Figure 33: Global Academia and Education Market Revenue and Forecasts to 2025 (US$ Bn) 87
Figure 34: Global Chemistry and Materials Market Revenue and Forecasts to 2025 (US$ Bn) 89
Figure 35: Global Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 91
Figure 36: Global Retail Market Revenue and Forecasts to 2025 (US$ Bn) 93
Figure 37: Global Others Market Revenue and Forecasts to 2025 (US$ Bn) 94
Figure 38: Text Analytics Market, Global Breakdown by Regions, 2016 & 2025 (%)
Figure 39: North America Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 40: North America Text Analytics Market Breakdown by Key Countries, 2016 (%)
Figure 41: U.S. Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 42: Canada Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 43: Mexico Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 44: North America Text Analytics Market Breakdown by Deployment Model, 2016 & 2025 (%)
Figure 45: North America Text Analytics Breakdown By Technology, 2016 & 2025 (%)
Figure 46: North America Text Analytics Market Breakdown By Application, 2016 & 2025 (%)
Figure 47: North America Text Analytics Market Breakdown By Verticals, 2016 & 2025 (%)
Figure 48: Europe Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 49: Europe Text Analytics Market Breakdown by Key Countries, 2016 (%)
Figure 50: France Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 51: Germany Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 52: UK Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 53: Italy Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 54: Spain Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 55: Europe Text Analytics Market Breakdown by Deployment Model, 2016 & 2025 (%)
Figure 56: Europe Text Analytics Market Breakdown By Technology, 2016 & 2025 (%)
Figure 57: Europe Text Analytics Market Breakdown By Application, 2016 & 2025 (%)
Figure 58: Europe Text Analytics Market Breakdown By Verticals, 2016 & 2025 (%)
Figure 59: Asia Pacific Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 60: Asia Pacific Text Analytics Market Breakdown by Key Countries, 2016 (%)
Figure 61: Japan Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 62: China Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 63: Australia Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 64: India Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 65: Asia Pacific Text Analytics Market Breakdown by deployment model, 2016 & 2025 (%)
Figure 66: Asia Pacific Text Analytics Market Breakdown By Technology, 2016 & 2025(%)
Figure 67: Asia Pacific Text Analytics Market Breakdown By Application, 2016 & 2025 (%)
Figure 68: Asia Pacific Text Analytics Market Breakdown By Verticals, 2016 & 2025 (%)
Figure 69: Middle East & Africa Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 70: Middle East & Africa Text Analytics Market Breakdown by Key Countries, 2016 (%)
Figure 71: UAE Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 72: South Africa Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 73: Saudi Arabia Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 74: Middle East & Africa Text Analytics Market Breakdown by Deployment Model, 2016 & 2025 (%)
Figure 75: Middle East & Africa Text Analytics Market Breakdown By Technology, 2016 & 2025 (%)
Figure 76: Middle East & Africa Text Analytics Market Breakdown by Application, 2016 & 2025 (%)
Figure 77: Middle East & Africa Text Analytics Market Breakdown by Verticals, 2016 & 2025 (%)
Figure 78: South America Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 79: South America Text Analytics Market Breakdown by Key Countries, 2016 & 2025 (%)
Figure 80: Brazil Text Analytics Market Revenue and Forecasts to 2025 (US$ Bn)
Figure 81: South America Text Analytics Market Breakdown by Deployment Model, 2016 & 2025 (%)
Figure 82: South America Text Analytics Market Breakdown By Technology, 2016 & 2025 (%)
Figure 83: South America Text Analytics Market breakdown by Application, 2016 & 2025 (%)
Figure 84: South America Text Analytics Market breakdown by Verticals, 2016 & 2025 (%)
The List of Companies
- IBM Corporation
- SAP SE
- SAS Institute Inc.
- Clarabridge
- Expert Systems
- OpenText Corp.
- Basis Technology
- Linguamatics
- ANGOSS SOFTWARE CORPORATION
- KNIME
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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