The global Text Mining Market is forecast to reach USD 16.85 Billion by 2027, according to a new report by Reports and Data. Text mining tools are increasingly used by most of the organizations to help their business by useful insights from different sources, such as client interaction, blogs, emails, tweets, product reviews, and center logs.
The major objective of the mining of these texts is to gather several forms of information that includes structured and unstructured data and can be utilized further for fueling the decision of the business. Some of the benefits of this mining include improved processing speed, cost reduction, better consistency, and integration of big data. The rise in demand for Big Data and machine learning is augmenting the growth of the product.
Text mining is gaining traction due to the rise in the adoption of social media platforms and a growing inclination of cloud technology for data storage. The organization is transitioning to adopt cloud technology. They are being driven by their ability to prevent fraud, plan efficient marketing campaigns, and manage risk.
HM, a fashion retailer, in August 2018, deployed text mining solutions to analyze the customer's response in their social media channels. This permits the company to attain a better understanding of customer preference, and also customize ads to attract new clients.
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The report is also inclusive of the financial scenario of the leading companies such as profit margins, revenue contribution, growth rate, sales volume, manufacturing and production costs, and other key statistics. The report offers a thorough analysis of the financial standing, global position, product portfolio and business expansion plans. The report also provides SWOT analysis and Porter’s Five Forces analysis for each market player.
Key companies operating in the market include:
SAS Institute, Inc., SAP SE, Clarabridge, Inc., Lexalytics, Inc., IBM Corporation, Luminoso Technologies Inc., Averbis, Meaningcloud LLC, Opentext Corporation, and Bitext Innovations S.L., among others.
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The report focuses on evaluation of the given market in major regions and the countries included in those regions. The report provides details of the market considering the geographical landscape that includes North America, Latin America, Asia Pacific, Europe, and the Middle East Africa.The report covers assessment of revenue estimations and shares, current market value, future market valuation, market share, revenue growth and market size in each region. It studies production and consumption patterns, import/export, supply and demand ratio, consumer behavior shift, current and emerging trends, and initiatives taken by the key players in each major region.
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Component Outlook (Revenue, USD Billion; 2017-2027)
Software
Services
- Managed services
- Professional services
Application Outlook (Revenue, USD Billion; 2017-2027)
- Marketing Management
- Document Management
- Customer Experience Management
- Governance, Risk, and Compliance Management
- Workforce Management
- Others
Deployment Mode Outlook (Revenue, USD Billion; 2017-2027)
- Online
- Cloud
Organization Size Outlook (Revenue, USD Billion; 2017-2027)
- Large Enterprises
- Small and Medium Enterprises
Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
- Retail and Ecommerce
- Healthcare and Life Sciences
- Banking, Financial Services, and Insurance
- Government and Defense
- Manufacturing
- Telecommunications and Information Technology
- Media and Entertainment
- Energy and Utilities
- Travel and Hospitality
- Others
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Key Features of the Text Mining Market Report:
- A comprehensive 8 year forecast of the market and its expected growth rate and trends
- Analysis of key market drivers and restraining factors
- Comprehensive analysis of the key regions of the industry and provides SWOT analysis and Porter’s Five Forces analysis to impart a deeper understanding of the market
- Helps in formulating strategic business decisions and investments plans
- Strategic recommendations to the established companies and new entrants
- Statistical data organized into tables, charts, graphs, diagrams, and info graphics
- Includes complete coverage of recent RD advancements, product launches, and mergers and acquisitions, among others
Thank you for reading our report. To know more about the customization feature, please get in touch with us and our team will ensure the report is customized to meet your requirements.
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