According to Technavio, the global text analytics market size is estimated to grow by USD 12,755.09 million from 2022 to 2027. The market is estimated to grow at a CAGR of over 19.82% during the forecast period. However, the growth momentum will progress. Europe is estimated to account for 30% of the growth of the global market during the forecast period.
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Global text analytics market – Five Forces
The global cloud data warehouse market is fragmented, and the five forces analysis covers–
- Bargaining Power of Buyers
- The threat of New Entrants
- Threat of Rivalry
- Bargaining Power of Suppliers
- Threat of Substitutes
- Interpretation of porter’s five models helps to strategize the business, for entire details – buy the report!
Global text analytics market – Customer Landscape
The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global text analytics market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on deployment (Cloud and On-premises), and components (Software and Services).
- The cloud segment will grow at a significant rate during the forecast period. Cloud-based solutions are less expensive than on-premise software. This software does not require the actual installation of the hardware and software at end-user premises and is maintained at the vendor’s data center, where it can be accessed by end-users on a subscription basis. Thus, the cloud-based model is beneficial for SMEs as it allows them to streamline and automate their daily operations in an efficient manner, reduce errors, and lower costs. Hence, this segment is estimated to grow at a significantly high pace during the forecast period.
Geography Overview
By geography, the global text analytics market is segmented into Europe, North America, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global text analytics market.
- Europe will account for 30% of the growth of the global market during the forecast period. The high adoption of technologies and the considerable installed base of IoT data collection devices increase the need for text analytics. The manufacturing, transportation, media and entertainment, government, and healthcare sectors will be the major contributors of revenue to the market in the region. Additionally, the market is expanding as governments of several countries in the region have also implemented several initiatives to increase revenue from the industrial internet and aid economic growth, which will increase segment growth in this region during the forecast period.
Global text analytics market – Market Dynamics
Key factor driving market growth
- The need to improve business efficiency is notably driving the market growth.
- Owing to an increase in the number of connected devices in end-user industries businesses are expanding and new players are entering the market.
- Hence, the demand for results and profits will increase owing to intensified competition.
- Business operators have realized that they must establish better communication platforms to connect with end-users without location barriers, optimize costs, deliver better services, and increase revenues. Such factors will drive the growth of the market during the forecast period.
Leading trends influencing the market
- The evolution of programmatic advertisement buying is an emerging trend in the market.
- Consumers are supported by programmatic advertisement buying in automating their decision-making process associated with the buying of digital advertisements by targeting specific demographics and audiences.
- These advertisements are placed using real-time bidding (RTB) and AI for online displays, mobile and video campaigns, and social media campaigns.
- Furthermore. these advertisements use analytics solutions for buying digital advertisements. These factors will fuel the market growth during the forecast period.
Major challenges hindering the market growth
- The lack of a skilled workforce for developing text analytics algorithms is a major challenge impeding the market.
- The lack of skilled operators and proper training has resulted in a disinclination to execute wide-scale automation, as substantial time, training, and budget have to be allocated for the successful implementation of AI in text analytics solutions.
- This scenario is expected to change gradually during the forecast period as several end-users are transitioning from traditional manual operations to automated functions for improving process efficiency.
- Therefore, the lack of technical expertise among users limits the scope of advanced text analytics solutions. These factors will affect the growth of the during the forecast period.
What are the key data covered in this text analytics market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the text analytics market between 2023 and 2027
- Precise estimation of the size of the text analytics market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the text analytics market industry across Europe, North America, APAC, Middle East and Africa, and South America
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of text analytics market vendors
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| Text Analytics Market Scope | |
| Report Coverage | Details |
| Page number | 169 |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2027 |
| Growth momentum & CAGR | Accelerate at a CAGR of 19.82% |
| Market growth 2023-2027 | USD 12,755.09 million |
| Market structure | Fragmented |
| YoY growth 2022-2023 (%) | 17.87 |
| Regional analysis | Europe, North America, APAC, Middle East and Africa, and South America |
| Performing market contribution | Europe at 30% |
| Key countries | US, Japan, China, Germany, and France |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Alphabet Inc., Averbis GmbH, Bitext Innovations SL, Forsta AS, Infegy, InMoment Inc., International Business Machines Corp., KNIME AG, Luminoso Technologies Inc., MeaningCloud LLC, Megaputer Intelligence Inc., Micro Focus International Plc, Microsoft Corp., NICE Ltd., Open Text Corp., Oracle Corp., Qualtrics International Inc., SAP SE, SAS Institute Inc., and TIBCO Software Inc. |
| Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Deployment
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Component
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global text analytics market 2017 – 2021
- Exhibit 18: Historic Market Size – Data Table on Global text analytics market 2017 – 2021 ($ million)
- 4.2 Deployment Segment Analysis 2017 – 2021
- Exhibit 19: Historic Market Size – Deployment Segment 2017 – 2021 ($ million)
- 4.3 Component Segment Analysis 2017 – 2021
- Exhibit 20: Historic Market Size – Component Segment 2017 – 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 – 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
- 4.5 Country Segment Analysis 2017 – 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by Deployment
- 6.1 Market segments
- Exhibit 30: Chart on Deployment – Market share 2022-2027 (%)
- Exhibit 31: Data Table on Deployment – Market share 2022-2027 (%)
- 6.2 Comparison by Deployment
- Exhibit 32: Chart on Comparison by Deployment
- Exhibit 33: Data Table on Comparison by Deployment
- 6.3 Cloud – Market size and forecast 2022-2027
- Exhibit 34: Chart on Cloud – Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Cloud – Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Cloud – Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Cloud – Year-over-year growth 2022-2027 (%)
- 6.4 On-premises – Market size and forecast 2022-2027
- Exhibit 38: Chart on On-premises – Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on On-premises – Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on On-premises – Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on On-premises – Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Deployment
- Exhibit 42: Market opportunity by Deployment ($ million)
7 Market Segmentation by Component
- 7.1 Market segments
- Exhibit 43: Chart on Component – Market share 2022-2027 (%)
- Exhibit 44: Data Table on Component – Market share 2022-2027 (%)
- 7.2 Comparison by Component
- Exhibit 45: Chart on Comparison by Component
- Exhibit 46: Data Table on Comparison by Component
- 7.3 Software – Market size and forecast 2022-2027
- Exhibit 47: Chart on Software – Market size and forecast 2022-2027 ($ million)
- Exhibit 48: Data Table on Software – Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Chart on Software – Year-over-year growth 2022-2027 (%)
- Exhibit 50: Data Table on Software – Year-over-year growth 2022-2027 (%)
- 7.4 Services – Market size and forecast 2022-2027
- Exhibit 51: Chart on Services – Market size and forecast 2022-2027 ($ million)
- Exhibit 52: Data Table on Services – Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Chart on Services – Year-over-year growth 2022-2027 (%)
- Exhibit 54: Data Table on Services – Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Component
- Exhibit 55: Market opportunity by Component ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 57: Chart on Market share by geography 2022-2027 (%)
- Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 59: Chart on Geographic comparison
- Exhibit 60: Data Table on Geographic comparison
- 9.3 Europe – Market size and forecast 2022-2027
- Exhibit 61: Chart on Europe – Market size and forecast 2022-2027 ($ million)
- Exhibit 62: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
- Exhibit 63: Chart on Europe – Year-over-year growth 2022-2027 (%)
- Exhibit 64: Data Table on Europe – Year-over-year growth 2022-2027 (%)
- 9.4 North America – Market size and forecast 2022-2027
- Exhibit 65: Chart on North America – Market size and forecast 2022-2027 ($ million)
- Exhibit 66: Data Table on North America – Market size and forecast 2022-2027 ($ million)
- Exhibit 67: Chart on North America – Year-over-year growth 2022-2027 (%)
- Exhibit 68: Data Table on North America – Year-over-year growth 2022-2027 (%)
- 9.5 APAC – Market size and forecast 2022-2027
- Exhibit 69: Chart on APAC – Market size and forecast 2022-2027 ($ million)
- Exhibit 70: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
- Exhibit 71: Chart on APAC – Year-over-year growth 2022-2027 (%)
- Exhibit 72: Data Table on APAC – Year-over-year growth 2022-2027 (%)
- 9.6 Middle East and Africa – Market size and forecast 2022-2027
- Exhibit 73: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
- Exhibit 74: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
- Exhibit 75: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
- Exhibit 76: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
- 9.7 South America – Market size and forecast 2022-2027
- Exhibit 77: Chart on South America – Market size and forecast 2022-2027 ($ million)
- Exhibit 78: Data Table on South America – Market size and forecast 2022-2027 ($ million)
- Exhibit 79: Chart on South America – Year-over-year growth 2022-2027 (%)
- Exhibit 80: Data Table on South America – Year-over-year growth 2022-2027 (%)
- 9.8 US – Market size and forecast 2022-2027
- Exhibit 81: Chart on US – Market size and forecast 2022-2027 ($ million)
- Exhibit 82: Data Table on US – Market size and forecast 2022-2027 ($ million)
- Exhibit 83: Chart on US – Year-over-year growth 2022-2027 (%)
- Exhibit 84: Data Table on US – Year-over-year growth 2022-2027 (%)
- 9.9 Japan – Market size and forecast 2022-2027
- Exhibit 85: Chart on Japan – Market size and forecast 2022-2027 ($ million)
- Exhibit 86: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
- Exhibit 87: Chart on Japan – Year-over-year growth 2022-2027 (%)
- Exhibit 88: Data Table on Japan – Year-over-year growth 2022-2027 (%)
- 9.10 China – Market size and forecast 2022-2027
- Exhibit 89: Chart on China – Market size and forecast 2022-2027 ($ million)
- Exhibit 90: Data Table on China – Market size and forecast 2022-2027 ($ million)
- Exhibit 91: Chart on China – Year-over-year growth 2022-2027 (%)
- Exhibit 92: Data Table on China – Year-over-year growth 2022-2027 (%)
- 9.11 Germany – Market size and forecast 2022-2027
- Exhibit 93: Chart on Germany – Market size and forecast 2022-2027 ($ million)
- Exhibit 94: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
- Exhibit 95: Chart on Germany – Year-over-year growth 2022-2027 (%)
- Exhibit 96: Data Table on Germany – Year-over-year growth 2022-2027 (%)
- 9.12 France – Market size and forecast 2022-2027
- Exhibit 97: Chart on France – Market size and forecast 2022-2027 ($ million)
- Exhibit 98: Data Table on France – Market size and forecast 2022-2027 ($ million)
- Exhibit 99: Chart on France – Year-over-year growth 2022-2027 (%)
- Exhibit 100: Data Table on France – Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 101: Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 102: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 104: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 105: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 106: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 107: Matrix on vendor position and classification
- 12.3 Alphabet Inc.
- Exhibit 108: Alphabet Inc. – Overview
- Exhibit 109: Alphabet Inc. – Business segments
- Exhibit 110: Alphabet Inc. – Key news
- Exhibit 111: Alphabet Inc. – Key offerings
- Exhibit 112: Alphabet Inc. – Segment focus
- 12.4 Averbis GmbH
- Exhibit 113: Averbis GmbH – Overview
- Exhibit 114: Averbis GmbH – Product / Service
- Exhibit 115: Averbis GmbH – Key offerings
- 12.5 Bitext Innovations SL
- Exhibit 116: Bitext Innovations SL – Overview
- Exhibit 117: Bitext Innovations SL – Product / Service
- Exhibit 118: Bitext Innovations SL – Key offerings
- 12.6 Forsta AS
- Exhibit 119: Forsta AS – Overview
- Exhibit 120: Forsta AS – Product / Service
- Exhibit 121: Forsta AS – Key offerings
- 12.7 Infegy
- Exhibit 122: Infegy – Overview
- Exhibit 123: Infegy – Product / Service
- Exhibit 124: Infegy – Key offerings
- 12.8 InMoment Inc.
- Exhibit 125: InMoment Inc. – Overview
- Exhibit 126: InMoment Inc. – Product / Service
- Exhibit 127: InMoment Inc. – Key offerings
- 12.9 International Business Machines Corp.
- Exhibit 128: International Business Machines Corp. – Overview
- Exhibit 129: International Business Machines Corp. – Business segments
- Exhibit 130: International Business Machines Corp. – Key news
- Exhibit 131: International Business Machines Corp. – Key offerings
- Exhibit 132: International Business Machines Corp. – Segment focus
- 12.10 Micro Focus International Plc
- Exhibit 133: Micro Focus International Plc – Overview
- Exhibit 134: Micro Focus International Plc – Product / Service
- Exhibit 135: Micro Focus International Plc – Key news
- Exhibit 136: Micro Focus International Plc – Key offerings
- 12.11 Microsoft Corp.
- Exhibit 137: Microsoft Corp. – Overview
- Exhibit 138: Microsoft Corp. – Business segments
- Exhibit 139: Microsoft Corp. – Key news
- Exhibit 140: Microsoft Corp. – Key offerings
- Exhibit 141: Microsoft Corp. – Segment focus
- 12.12 NICE Ltd.
- Exhibit 142: NICE Ltd. – Overview
- Exhibit 143: NICE Ltd. – Business segments
- Exhibit 144: NICE Ltd. – Key news
- Exhibit 145: NICE Ltd. – Key offerings
- Exhibit 146: NICE Ltd. – Segment focus
- 12.13 Open Text Corp.
- Exhibit 147: Open Text Corp. – Overview
- Exhibit 148: Open Text Corp. – Product / Service
- Exhibit 149: Open Text Corp. – Key news
- Exhibit 150: Open Text Corp. – Key offerings
- 12.14 Oracle Corp.
- Exhibit 151: Oracle Corp. – Overview
- Exhibit 152: Oracle Corp. – Business segments
- Exhibit 153: Oracle Corp. – Key news
- Exhibit 154: Oracle Corp. – Key offerings
- Exhibit 155: Oracle Corp. – Segment focus
- 12.15 Qualtrics International Inc.
- Exhibit 156: Qualtrics International Inc. – Overview
- Exhibit 157: Qualtrics International Inc. – Product / Service
- Exhibit 158: Qualtrics International Inc. – Key offerings
- 12.16 SAP SE
- Exhibit 159: SAP SE – Overview
- Exhibit 160: SAP SE – Business segments
- Exhibit 161: SAP SE – Key news
- Exhibit 162: SAP SE – Key offerings
- Exhibit 163: SAP SE – Segment focus
- 12.17 SAS Institute Inc.
- Exhibit 164: SAS Institute Inc. – Overview
- Exhibit 165: SAS Institute Inc. – Product / Service
- Exhibit 166: SAS Institute Inc. – Key news
- Exhibit 167: SAS Institute Inc. – Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 168: Inclusions checklist
- Exhibit 169: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 170: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 171: Research methodology
- Exhibit 172: Validation techniques employed for market sizing
- Exhibit 173: Information sources
- 13.5 List of abbreviations
- Exhibit 174: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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