Text analytics market examined in new market research study

Allied Market Research Allied Market Research has recently published a report titled, Global Text Analytics Market (Application, Industry, End User, Deployment Model, Technology and Geography ) – Size, Share, Global Trends, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2012 – 2020, which provides a holistic view of the text analytics market.

Text analytics is a technology that uses extracted patterns from text to provide valuable insights using business intelligence software. The rise of social media, high-end analytical tools and increasing customer-centric approaches are driving the growth of global text analytics market. The need for extensive R&D, along with strategic decision making, are also boosting the text analytics market.

Factors such as inconsistent and unstructured data and time consumption due to reformation of documents are impeding the growth of this market, explained a news release issued by the market research firm.

The report provides detailed information on application, end-users, industry wise market, deployment model market and geographies. The application market is segmented on the basis of data analysis, enterprise applications and social media analysis.

Web-based applications and social media analysis would grow fastest under application segment due to the rise in social media, added the news release. The technology market is sub-segmented as predictive analytics, text clustering, Big Data analytics and Web mining.