Markets And Markets

The Latin American Text Analytics Market is estimated to grow to $443.8 million in 2018.

Press release   •   Jun 17, 2015 07:55 EDT

The Latin American Text Analytics Market report defines and segments the text analytics market in Latin America with analysis and forecast of revenue. This market is estimated to grow from $186.1 million in 2013 to $443.8 million in 2018, at a CAGR of 19.0% from 2013 to 2018.

Browse through the TOC of the Latin American Text Analytics Market report to get an idea of the in-depth analysis provided. It also provides a glimpse of the segmentation in the market, and is supported by various tables and figures.

Text analytics is used to process a bulk of unstructured data in a short span of time. As organizations are realizing the usefulness of extracting valuable information from scattered texts populated all over the web, the demand for text analytics solutions is increasing gradually. With the help of these insights, organizations develop customer-centric business approaches and promote brand building. Some years ago, language was the biggest barrier for marketers to understand customer psychology and thought process. However, with the advancement of technology, analytics software are now capable of drawing information from different languages. This user-friendly interface is helping organizations to capture global trends and identify potential markets, hence giving them lucrative means to do business.

In the last decade, Latin America has become the chosen destination for multinational companies to invest in call centers, offshore delivery centers, BPOs, and shared service centers (SSC). The outsourcing industry in this region is flourishing at a high rate with customer satisfaction being of prime importance to this industry. Text analytics solutions are being used to a huge extent in this industry for pattern recognition, trend analysis, understanding the voice of the customer, and understanding the customer’s willingness to pay. Text analytics is helping the outsourcing industry to efficiently identify recurring problems with customers. It enables the comprehension and analysis of data to meet the primary objective of customer satisfaction, thus driving this market in the region. Currently, Latin America holds a share of 10.9% in the global text analytics market and is expected to show promising growth until during the forecast period, 2013 – 2018.

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The Latin American text analytics market has been segmented and forecast on the basis of sub-markets that include data analysis applications, enterprise applications, search-based applications, web-based and software applications, and others. The market is further segmented on the basis of end users such as enterprises and small and medium businesses (SMB). This market has also been segmented on the basis of major countries in this region such as Brazil and others.

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The report also includes market shares and value chain analyses, and market metrics such as drivers and restraints. In addition, it presents a competitive landscape and company profiles of the key players in this market.

Related Reports :

Europe Text Analytics Market

The Europe Text Analytics market is expected to grow from $533.7 million in 2014 to $1,233.9 million by 2019 at an estimated CAGR of 18.3%, during the forecast period. Growth of social media for brand building is one of the main drivers for Europe Text Analytics market.

Text analytics is the process of deriving information from text sources. It is used for several purposes, such as summarization, sentiment analysis, investigation and classification of text information for a particular subject or content.

Text analytics market has shown a continuous growth in European region due to the enhanced user experience. Organizations spend a lot of money in surveys and in understanding customer behavior. There are online surveys which gather in-depth insights from the data. The qualitative data gathered needs a lot of time and effort to derive some information out of the clutter. Text analytics help in converting data into meaningful information and providing improved customer experience.

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