Research > Market Share: Text Analytics Platforms, 2025, Worldwide
27.05.2025
Domain:Data, Analytics & AI
Sub Domain:Analytics & BI
Price:$ 4,900
Market Share: Text Analytics Platforms, 2025, Worldwide
Report Description:
Quadrant Knowledge Solutions Reveals that Text Analytics Market is Projected to Register a CAGR of 20.40% by 2030.
Traditional data analysis is based on relational models in which data is stored in tables with predefined data attributes called as structured data. According to research, only 20% of the data available in the enterprise is structured and the rest 80% is unstructured in the form of articles in Wikipedia, webpages, tweets, forms, etc which is practically impossible for human to process. Text analytics is defined as the process of gathering, analyzing, and extracting valuable insights or information from vast amounts of textual data using machine learning and NLP (natural language processing) techniques. It uses data visualization tools to transform insights into quantitative data while text analysis obtains qualitative insights from unstructured text. Text analytics leverages automated classification and extraction models to find relevant information within no time and help companies to make smart data-driven decisions.
Quadrant Knowledge Solutions defines Text Analytics as “Text analytics involves processing semi-structured and unstructured documents to derive meaningful data for analysis promoting relevant automation and critical business insights. Text analytics solutions make use of machine learning algorithms to perform lexical analysis, categorization, clustering, pattern recognition, information extraction, and visualization for deriving patterns and trends enabling critical actions and insights in relation to the available text data. Making use of speech-to-text technology, optical character recognition (OCR), natural language generation (NLG), and visualization techniques the text analytics pipeline ensures detailed measurement of customer opinions, product reviews and feedback, sentimental analysis, and entity modeling. Text analytics software solutions providers offer analytics through algorithm-based applications for ease of data extraction and storage within data warehouses. This promotes critical use cases including improved customer sentiment analysis and customer feedback processing, identification of probable fraud and ensuring associated legal and compliance adherence and enhanced real-time market intelligence ensuring enhanced information capture.”
Real-time insights on the text to assist businesses in learning important information about the attitudes, preferences, and feedback of their customers. This information can be used to enhance goods and services and boost client satisfaction and support decisions in a variety of fields, including finance, healthcare, and law. Vendors can focus on providing fraud detection that could predict where and when crimes could occur and thereby prevent them from happening by identifying the pattern of the data and developing additional document security, increasing the processing speed of the highly congested route, and offering them all in real time. Lastly spam filtering by analyzing the context of the document coming from emails to determine if the document is spam and saving the machines from threats. This can be achieved by integrating the solution with advanced AI algorithms which are transfer learnable.
Key questions this study will answer:
Vendors covered in this Study:
Amazon Web Services, Bitext, EdgeVerve Systems, Elastic, EPAM, Expert.ai, Google, Hyperscience, IBM, Indico Data, InMoment, Kingland, Luminoso, Medallia, Megaputer, Microsoft, Qualtrics, RavenPack, SAS, Stratifyd, Verint, and WorkFusion.
Table of Content:
Chapter 01: Executive Summary
Chapter 02: Market Overview
Chapter 03: Market Analysis
Chapter 04: Market Share Analysis
Chapter 05: Company Profile
Chapter 06: Appendix
List of Figures
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