The text analyzer is a tool that can analyze the feelings and sentiments in the statement. This technology is very helpful for online businesses and enterprises that can use the sentiment analysis tools for customer analysis. There is high scope for the Text Analytics Market owing to the number of technological corporations involved in the development of online text analysis through 2020.
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Topics Covered in this report:
Scope and Regional Forecast of the Text Analytics Market:
North America is the leading region in the Text Analytics Market due to the presence of huge technology companies in this region. There is high utilization of this technology by small and medium sized businesses for reviews, feedback management and risk assessment applications.
Europe is expected to have high demand for the Text Analytics Market through 2020. Rise in urbanization and use of online text data mining for customer analytics is expected to boost the growth of this market in the countries like Germany, UK and France.
Asia Pacific is the largest region for the Text Analytics Market with huge potential of applications of text analytics tools owing to the emerging economies such as China, India and Japan in the region. Many investors are trying to penetrate the Asia Pacific markets knowing the extent of growth this region can attain in the future.
Segmentation and Key Players of the Text Analytics Market:
The Text Analytics Market is segmented into various categories by deployment model, by application, by end user and by geography as follows:
By deployment model: On-premise model, Cloud based model
By application: Competitive Intelligence, Customer Relationship management, Predictive Analytics, Fraud detection and Brand Reputation
By end user: Fast Moving Consumer Goods (FMCG), Banking Financial Services and Insurance (BFSI), Healthcare and Pharmaceuticals, Telecommunication, Government and Retail
By geography: North America, Europe, Asia Pacific and LAMEA
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The key players in the Text Analytics Market are as follows:
- Hewlett Packard (HP)
- Microsoft Corporation
- Tibco Software
The Text Analytics Market is a high potential market with increasing market for text mining applications using text mining tools and text analyzer for commercial analysis of the consumers. This market is expected to witness growth owing to high investment by companies for development of text analytics tools and sentiment analytics for text analysis and sentiment analysis of any consumer, rise of population that are using the Internet and commercial demand for text mining tool across the globe during 2015-2020.
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