Text Analytics Market - Size, Share, Trends and Forecast to 2025
The text analytics is a process of converting the unstructured data into meaningful data which help companies to understand the customer experience, market trend, and product description. Global text analytics market has generated revenue of US$ 3,031.5 million in 2016 and is projected to reach US$ 13,060.4 million by 2025, exhibiting CAGR of 17.7%. Market Dynamics The increasing demand for insights from unstructured data, rising adoption of predictive analytics by various business, growing requirement for social media analytics and changing business trends are some of the key drivers which fuels growth of the text analytics market. Moreover, the rising significance of IoT and big data in analytics, provides the growth opportunity platform to the market. In addition, lack of skilled workforce and awareness are the major challenge which hinders the growth of the text analytics market. Request For Customization @ https://www.coherentmarketinsights.com/insight/requestcustomization/833 Rising demand for social media content insights has been the major drivers for the growth the global text analytics market. Factors such as stiff competition among giant companies to understand the market trends and meet customers’ expectation are increasingly boosting growth in text analytics market across the world. Text analytics give relevant data which helps in understanding real insights of particular market. Text analytics generally extract data in the form of comments, posts, tweets, photos, and many more, which in turn helps companies to extract the real insights regarding customer experience, product description and others.