According to IMARC Group’s latest report entitled “Text Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecasts 2021-2026‘, provides a comprehensive analysis of the industry that includes insights Industry Report Text Analysis. The report also includes competitive and regional analysis along with recent advances in the global market. The market saw strong growth between 2015 and 2020. That The global text analytics market is projected to grow at a CAGR of around 20% between 2021 and 2026.
Text analysis refers to an automated process of translating large amounts of unstructured text, including emails, online reviews, tweets, notes from call center agents, etc., into quantitative data. It helps in gaining insights about trends and related information. Text analysis uses text mining and natural language processing (NLP) algorithms to determine the meaning of written communication. It helps companies make better decisions by integrating data visualization tools. Currently, organizations in all countries use text analytics to evaluate texts in multiple languages and to understand customer opinions.
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As the novel coronavirus (COVID-19) crisis sweeps the world, we continuously monitor the changes in the markets and consumer purchasing behavior worldwide and our estimates on the latest market trends and forecasts are made after considering the impact of this pandemic.
Due to the sudden outbreak of the COVID-19 pandemic, numerous organizations around the world are focusing on building and improving their online presence, which is driving the text analytics market. Additionally, the increasing adoption of text analytics by small and medium-sized businesses (SMEs) to generate real-time results is further catalyzing the global market. Text analysis also helps in recognizing patterns,…