Europe Text Analytics Market By Component Types (Software, Services - Professional, Managed), Applications (Customer Experience Management, Governance, Risk, & Compliance Management, Marketing Management, Document Management, Workforce Management), Deployment Types (On-Demand, On-Premise), Verticals (Retail & E commerce, Government & Defense, Healthcare, Telecom & IT, Energy & Utilities, BFSI, Healthcare & Life Sciences, Transportation & Manufacturing)
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Market Report Description
The Europe Text Analytics Market Size would grow at a growth rate of 17.1% CAGR during the forecast period (2017 - 2023).
Text Analytics is a process used to convert unstructured text data into meaningful data to conduct analysis, look for customer opinions, track product reviews, gather feedback, provide search facility, analyze sentiments, and entity modeling to add value to and support decision making which is based on facts.
The need to gather insights from the financial transactions and study customer feedbacks to build more effective models would drive the demand for text analytics in the aforementioned sectors. Large enterprises have adopted the text analytics technology widely and therefore, is the leading segment with highest revenue. Social websites, emails, various text documents, tweets, blogs and forums have significantly contributed to the voluminous data generation on a daily basis.
The ability to single out sentiments hidden in the text makes text analytics an attractive technology. The need to gather insights from the financial transactions and study customer feedbacks to build more effective models would drive the demand for text analytics in the aforementioned sectors. Large enterprises have adopted the text analytics technology widely and therefore, is the leading segment with highest revenue.
Based on the component types, the Text Analytics market is segmented into Software and Services. The Services market is segmented into Professional and Managed Services. The Applications highlighted in this report include Customer Experience Management, Governance, Risk, & Compliance Management, Marketing Management, Document Management, Workforce Management, and Other Applications. Based on Deployment Types, the market is segmented into On-Demand and On-Premise.
The verticals covered under the report include Retail & E commerce, Government & Defense, Healthcare, Telecom & IT, Energy & Utilities, BFSI, Media & Entertainment, Transportation & Manufacturing, and Others. Based on Country, Text Analytics market is segmented into Germany, UK, France, Russia, Spain, Italy and Rest of Europe. Germany remained the dominant Country in the Europe Text Analytics market in 2016. Russia and France would witness promising CAGR during the forecast period (2017-2023).
The report covers the analysis of key stake holders of the Text Analytics market. Key companies profiled in the report include Clarabridge, Inc, Luminoso Technologies, Inc., Meaningcloud LLC, Averbis, International Business Machines Corporation (IBM), SAP SE, SAS Institute, Inc., and Open Text Corporation.
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