The use of Text Analytics is expected to Accelerate the Growth of Text Analytics Market from 2018 to 2025

(IT-NEWSWIRE.COM, October 18, 2018 ) According to a new market research study titled ‘Text Analytics Market to 2025 - Global Analysis and Forecasts by Deployment Type, Technology, Application and Verticals’, the global text analytics market was valued at US$ 2.59 Bn in 2016 and is estimated to reach US$ 18.28 Bn by 2025. The report highlights the trends prevalent in the global text analytics market and the factors driving the market along with those that act as deterrents to its growth.

Reason to Buy:

Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the text analytics market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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The global text analytics market is estimated to grow at a CAGR of 24.2% during the forecast period 2017 - 2025 and accounts for US$ 18.28 Bn in the year 2025. The global text analytics market was valued at US$ 2.59 Bn in 2016 and is estimated to reach US$ 18.28 Bn by 2025. The report highlights the trends prevalent in the global text analytics market and the factors driving the market along with those that act as deterrents to its growth.

The global text analytics market has been segmented on the basis of verticals into BFSI, Telecom, FMCG, Government, Academia & Education, Legal & Intellectual Property, Healthcare, Pharmaceuticals, Chemistry & Materials, and Retail. BFSI or Banking, Financial Services and Insurance sector comprises of a wide range of firms that offers financial services to various sectors. Text analytics in this sector is used as a new opportunity for fraud detection. It is done through various ways such as social network analysis or predictive analysis for the detection of fraud in the sector. Using text analytics as a method for fraud detection has increased the identification of frauds to above 50% as these types of analysis have an accuracy of almost 90%.

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Some of the major players profiled in the report are IBM Corporation, SAP SE, SAS Institute Inc., Clarabridge, Expert Systems, OpenText Corp., Basis Technology, Linguamatics, ANGOSS SOFTWARE CORPORATION and KNIME.

Text analytics is creating value across several industrial verticals. Leading players are making continuous improvements in the language processing algorithms to make companies aware of the latest industry trends across different industry verticals. The global text analytics market by geography is segmented into five regions including North America, Europe, Asia Pacific, Middle East & Africa and South America. The North America (NA), Asia Pacific (APAC) and Europe (EU) in total hold more than half of the total market, while the regions such as Middle East and Africa (MEA) and South America (SAM) are exhibiting a slow growth curve towards the adoptions of text analytics solution. The reason for slow growth rate in these regions is attributed to the lack of internet penetration as well as limited usage of social networking sites.

Table of Content:

1 Introduction

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

The Insight Partners

Sameer Joshi

+1-646-491-9876

sam@theinsightpartners.com

Source: EmailWire.Com

Source: EmailWire.com

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The use of Text Analytics is expected to Accelerate the Growth of Text Analytics Market from 2018 to 2025