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The North America Text Analytics Market Size is poised to grow at a growth rate of 16.5% 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. Text Analytics is used to determine keywords, topics, category, semantics, and tags from huge data sets. Text analytics software solutions offers tools, servers, analytic algorithm based applications, data mining and extraction tools etc. to convert unstructured data and give meaning to the data, which can be later used for analysis. The data that is extracted is later stored in in a relational, XML, and other data warehousing applications. These stored data sets are later used to conduct various levels of analysis with the help of various tools such as business intelligence tools or big data analytics or predictive analytics tools.
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 US, Canada, Mexico and Rest of North America. US remained the dominant Country in the North America Text Analytics market in 2016. Canada 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.