WILMINGTON, DE, UNITED STATES, August 1, 2024 /
EINPresswire.com/ -- The global
text analytics market size was valued at $5.86 billion in 2020, and is projected to reach $29.42 billion by 2030, growing at a CAGR of 17.8 % from 2021 to 2030.
The healthcare segment is expected to experience fastest growth in the coming years, owing to rapid adoption of analytics solution across various hospitals and clinics for simplifying critical process and for enhancing patient’s overall experience.
Request Sample Report:
https://www.alliedmarketresearch.com/request-sample/236
Text analytics is the automated process of translating large volumes of unstructured text, which is combined with data visualization tools, this technique enables companies to understand the story behind the numbers and make better decisions. Furthermore, growing need for social media analytics and predictive analytics for businesses are boosting the growth of the global text analytics market. In addition, rise in highly customized and industry-specific applications is positively impacts growth of the market.
However, lack of awareness, skilled workforce, and other operational challenges and data privacy and security concerns is hampering the market growth. On the contrary, enhancing customer service and competitive intelligence is expected to offer remunerative opportunities for expansion of the text analytics market during the forecast period.
Purchase Enquiry:
https://www.alliedmarketresearch.com/purchase-enquiry/236
Region wise, the text analytics market was dominated by North America in 2020, and is expected to retain its position during the forecast period, owing to expanding investments in new technologies such as IoT, AI, and ML, the expanding presence of text analytics providers, and increased government support for compliance with regulations. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the increasing technology investments. This leads to a growing demand for solutions in text Analytics utilized for the maintenance automation and plant safety process which is driving the text analytic market in Asia-Pacific region.
The key players profiled in the text analytics market analysis are Clarabridge, Inc., IBM, Luminoso Technologies, Inc., Megaputer Intelligence, Inc., Microsoft Corporation, Micro Focus LLC, Open Text Corporation, Oracle Corporation, SAP SE, and SAS. These players have adopted various strategies to increase their market penetration and strengthen their position in the text analytics industry.
Similar Reports:
Speech-to-Text API Market:
https://www.alliedmarketresearch.com/request-sample/A09527
In-Memory Analytics Market:
https://www.alliedmarketresearch.com/request-sample/3893
Video Analytics Market:
https://www.alliedmarketresearch.com/request-sample/3615
IT Operation Analytics (ITOA) Market:
https://www.alliedmarketresearch.com/request-sample/A157157
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
What Sets Us Apart ? - Allied Market Research