Urology Surgical Market: Industry Research Report 2018-2025 Text Analytics Market Research Report 2018-2025 | Page 2

Introduction: 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 text analytics market has experienced high growth and adoption in the last few years and is also expected to experience a significant growth and adoption in years to come. One of the major reason for high adoption of text analytics is, increasing competitive nature in business is making companies to seek for value added solutions. With increasing competition and changing consumer perspectives, organizations are making significant investments in solutions capable of analyzing customer and competitor data in order to improve competitiveness. The mainstream source of data are e-commerce platforms, social media, survey, individual blog, published articles and others. Greater part of data generated is unstructured, which makes it difficult and expensive for the companies to analyze with the help of individuals. This challenge combined with the rapid growth in data generation has led to the development of analytical tools not only capable of handling large volume of text data but also assist in better decision making. Text analytics software enables a user to draw meaning from large volume of data sets available from different sources. E-Mail : [email protected]