Summary
“Text
analytics” is an emerging technology that is popular amongst various
industries such as FMCG, BFSI, Telecom, Healthcare, etc. Text analytics software
equip the companies to understand their customers better, and help them
determine customers demands, purchasing patterns, etc., by analyzing the data
generated from various sources. The growing popularity of text analytics
technology is attributed to the rising acceptance of social media platforms and
growing inclination towards cloud technology for data storage. There is a
growing tendency among companies to adopt cloud technology to understand the
inherent dynamics of the market. The ability to curb fraud, manage risk, plan
effective marketing campaigns, etc. are some of the major factors driving the
global text analytics applications segment. As substantial data is generated
through different sources, the adoption of cloud technology empowers companies
to analyze the data and forecast profitable outcomes of the same. The ability of
text analytics to analyze data in real time has influenced its adoption in
various businesses; therefore, text analysis is gaining prominence as a
futuristic technology that could redefine business processes. Additionally,
emerging economies provide huge potential for the expansion of the text
analytics market in the Asia-Pacific region.
The ability of text analytics to extract meaningful information from
unstructured data would benefit companies in gaining business intelligence,
comprehending market dynamics and gaining significant insight into the
competitive landscape of the market. The top players in the market are adopting
acquisition, product launch, partnerships and collaborations as strategies to
expand their geographic reach, strengthen product lines and to improve their
services. Companies such as SAS Incorporation, Clarabridge and many other top
market players are adopting product launch and partnership as their
developmental strategy to remain competitive in the market. For instance, in
April 2014, Clarabridge, a leader of text analytic products, acquired Market
Metrix, a leading Enterprise Feedback Management platform, to expand its
analytics offerings with a robust platform. The combined solution would help in
analysing the data efficiently.
The global market is segmented based on deployment models, applications, end
users and geography. Cloud based and on-premise are two deployment models on
which text analytics software would be deployed. The applications market is
further classified based on competitive intelligence, fraud detections,
predictive analytics, etc. in major financial and telecommunication sectors.
Industries such as retail, banking and financial services and insurance (BFSI),
government, telecom sector, Fast moving consumer goods (FMCG), healthcare and
pharmaceuticals use text analytics software to analyze consumer behaviors.
Further, study of text analytics market is conducted across various regions,
viz. North America, Europe, Asia Pacific and LAMEA.
KEY BENEFITS
The study provides an in-depth analysis of the global text analytics market with
current and future trends to elucidate the imminent investment pockets in the
market
Current and future trends are outlined to determine the overall attractiveness
and single out profitable trends to gain a stronger foothold in the market
Quantitative analysis of the current market and estimations through 2013-2020
are provided to showcase the financial calibre of the market
Drivers and opportunities are evaluated to highlight the top factors responsible
for market growth. Various segments are carefully evaluated to gauge the
potential of the market
Porters Five Forces model and SWOT analysis of the industry illustrates the
potency of the buyers & suppliers participating in the market
Value chain analysis in the report gives a clear understating of the roles of
stakeholder involved in the value chain
KEY MARKET SEGMENTS
TEXT ANALYTICS MARKET BY DEPLOYMENT MODEL
On-premise model
Cloud based model
TEXT ANALYTICS MAKRET BY APPICATION
Competitive Intelligence
Customer Relationship management
Predictive Analytics
Fraud detection
Brand Reputation
TEXT ANALYTICS MARKET BY END USER
Fast Moving Consumer Goods (FMCG)
Banking Financial Services and Insurance (BFSI)
Healthcare and Pharmaceuticals
Telecommunication
Government
Retail
TEXT ANALYTICS MARKET BY GEOGRAPHY
North America
Europe
Asia-Pacific
LAMEA
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