Christy Publications Text Analytics Market | Page 2

requirement for social media analytics and changing business trends are some of the key drivers
which fuels the market of text analytics globally.
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Key Takeaways of the Text Analytics Market:
The global text analytics market is estimated to exhibit a CAGR of 17.7% over the forecast
periodIn 2016, the text analytics market generated revenue of US$ 3,031.5 million and is
projected to reach US$ 13,060.4 million by 2025
Among deployment model, the cloud segment held a dominant position in 2016 and is projected
to retain its dominance throughout the forecast period, owing to increasing adoption of cloud
technology by various companies
Among application, customer relationship management segment held a dominant position in
2016 and is projected to retain its dominance throughout the forecast period. This is mainly
owing to factors such as high focus on customer engagement and increasing adoption by small
and enterprises. Additionally, Social media analytics segment is estimated to grow medium
rapidly during the forecast period, owing to increasing high demand for insights from social
media content and rising unstructured data on social media websites.
Among end users, the banking, financial services, and insurance segment held the dominant
position in 2016 and is projected to retain its dominance throughout the forecast period.
Moreover, retail and e-commerce industry is projected to grow with largest CAGR in the forecast
period.
North America held a dominant position in the global text analytics market in 2016 with US$
1,045 million and is projected to exhibit a CAGR of 16.9% by 2025. The U.S. held the dominant
position in the North America text analytics market in 2016. Canada is estimated to exhibit the
largest CAGR over the forecast period.
Asia Pacific is estimated to witness a CAGR of 19.1% over the forecast period. China and India
are the major countries driving growth of the text analytics market in the region.Some of the
major players involved in the global Text analytics market include SAP SE, International Business
Machines Corporation, SAS Institute, Inc., Opentext Corporation, Clarabridge, Inc., Bitext