APAC Text Analytics to See Promising CAGR to 2023, Expects KBV Research in Its New Insightful Report Published at MarketPublishers.com17 Jul 2017 • by Natalie Aster
LONDON – Text analytics refers to a process of converting unstructured text data into meaningful data to carry out analysis, seek customer opinions, keep track of product reviews, collect feedback, provide search facility, analyse sentiments, and entity-relationship modeling to add value to and support fact-based decision making. Different linguistic, statistical, and machine learning algorithms are utilised to pull up information from unstructured data and then ultimately structure the data and derive patterns and trends and assess and interpret data in a proper way. It also includes lexical analysis, clustering, categorisation, pattern recognition, tagging, annotation, information retrieval, link and association analysis, and visualisation. Text analytics serves for determining topics, category, keywords, semantics, and tags from big data sets.
The demand for accumulating insights from the financial transactions and explore customer reviews to build more efficient models will likely boost the demand for text analytics in the sectors discussed. Large-size enterprises have implemented the text analytics technology on a broad scale, and hence it is the key and highest revenue generating segment.
North America continued to take the lead in the global text analytics market as of 2016. APAC is set to witness promising CAGR through to 2023.
SAP SE, Clarabridge, Meaningcloud LLC, Averbis, Open Text Corporation Luminoso Technologies, International Business Machines Corporation (IBM), and SAS Institute, are the leading players in the market.
Topical research report “Global Text Analytics Market (2017 - 2023)” elaborated by KBV Research gives a complete picture of the current situation in the marketplace globally alongside speculating on the market development in the offing.
The offers detailed market segmentation on the basis of component type, application, deployment time, vertical, and by region. It provides detailed market size estimates (from 2013) and forecasts for the overall market and each of its segments. The study canvasses key factors driving and restraining the market. Furthermore, it examines the competitive landscape in the market and includes detailed profiles of the top 8 stake holders in the text analytics market.
For more in-demand market research reports by KBV Research, visit its page at MarketPublishers.com.