Content Analytics Market is Expected to Exhibit a CAGR of 23.4% during the Forecast Period (2017-2025)
According to the new market research report “Content Analytics Market by Deployment Model (Cloud, On-Premises), by Application (Text Analytics, Web Analytics, Speech Analytics, Social Media Analytics, Others), by Verticals (BFSI, Healthcare, Retail & Consumer Goods, IT & Telecom, Media & Entertainment, Travel and Hospitality, Government, Others) and Geography – Global Forecast to 2025″
Content analytics is an integration of technologies that process digital content to extract insights from various channels such as news channels, documents, email, consumer conversation – either text or audio, and social networking discussion to understand the market trend and customer demand. Increasing unstructured data plays a major role in the growth of content analytics market. Stiff competition in the market compels the companies to understand consumer demand and market scenario. In order to achieve a competitive edge, many companies extract insights from unstructured data, which, in turn, fuels the demand for content analytics software and solutions.
Social networking plays a major role in providing unstructured data to the companies. Increasing traffic on social networking sites results in huge amount of unstructured data. For example: Facebook, LinkedIn, Twitter, and Google+ are some of the popular social networking sites. On Facebook, around 300 million photos are uploaded per day, 293,000 statuses are updated, and 510,000 comments are posted in every 60 seconds.
Hence, analysis of this increasing unstructured data helps companies understand the market trends, customer demand, and product descriptions by adopting content analytics tools. With the integration of language processing technology and various analytical tools, content analytics software collects unstructured data from various channels and extracts insights, which helps companies understand the current situation of the market. Moreover, increasing demand for real-time data analytics also plays a major role in the growth of content analytics market. Numerous advantages such as fast & accurate results and cost-effectiveness have increased the demand for real-time content analytic solutions in various organizations, which help them take bold and quick decisions.
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Key Takeaways of the Content Analytics Market:The global content analytics market is estimated to expand at a CAGR of 23.4% during the forecast period
On-premises deployment model held a dominant position in 2016 and is projected to retain its dominance throughout the forecast period.Cloud-based deployment model is estimated to grow with the largest CAGR in the forecast period. Increasing adoption of cloud technology by various companies has raised the demand for cloud-based content analytics solutions.
On the basis of application, text analytics segment held a dominant position in 2016 and is projected to retain its dominance throughout the forecast period. Moreover, social media analytics segment is estimated to grow with a significant CAGR in the forecast period.
North America held a dominant position in the global content analytics market in 2016 and is projected to exhibit a CAGR of 22.8% through 2025In North America content analytics market, the United States held the dominant position in 2016. Canada is estimated to grow with the largest CAGR in the forecast period.Asia Pacific is estimated to expand at a CAGR of 25.7% over the forecast period. China and India are the major countries driving the content analytics market in the region.
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Some of the major players involved in the global content analytics market are Adobe Systems, Inc., Interactive Intelligence Group, Inc., Clarabridge, Inc., International Business Machines (IBM) Corporation, Opentext Corporation, Nice Systems Ltd., Oracle Corporation, SAS Institute, Inc., SAP SE, and Verint Systems.
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