A Transparency Market Research (TMR) report provides insights on competitive landscape of the global content analytics market. The prominent players in the market include IBM, SAS, Microsoft Corporation, Google Inc., and SAP. The global content analytics market is highly competitive and the competition is expected to intensify in upcoming years. These companies are adopting various strategies to reduce the cost of products and services to capture a larger consumer base. Innovative products are in the making to outpace rivals and win over the competitive edge in the global content analytics market.
One of the major driving factor proliferating the demand is enormous rise in business content for variety of business types. Content analytics helps business to take necessary business decisions by providing enriching information. The global content analytics market is projected to expand at a staggering rate of CAGR 26.1% during the forecast period 2018 to 2026. The estimated revenue was US$2.5bn in 2017 and it is likely to scale up to US$ 8.1bn by the end of forecast period, owing to upswing of the global content analytics market.
Geography wise, North America is expected to emerge as a leading region in the global content analytics market. The growth is attributed to growing numbers of companies looking for content analytics solutions. Developing economies such as Middle East and South Asia are projected to play pivotal role in the global content analytics expansion. There are various types of content analytics in the global content analytics market. However, the text segment is likely to grow at a robust pace due to its extensive usage in SMS and social media platforms. Hence, during the forecast period the global content analytics market is projected to witness a tremendous development.
Massive Digitalization to Create Bolstering Demand
We live in an era of digitalization, digital economy is the need of the hour. All developing economies are transforming into digital economy. It is impossible to manage huge population and their data without going digital. So, increasing demand for digitalization to propel the global content analytics market. Government sector is likely to boost the demand for content analytics by adopting digital identities in developing countries and digitalization of census. Additionally, national security is expected to push the market to expand in the global content analytics. Rising threat of terrorism can be attributed to demand arising from national security systems.
Communication sector is also likely to provide impetus to the global content analytics market due to increasing use of social media and other forms of communication.
Information and Technology Infrastructure to Bring in Significant Change
Information and Technology sector has its presence in every business. It has brought in huge transformation in business enterprises across the world. IT enhances productivity and flexibility in business functioning and gives an improved throughput. Thus, creating an increased demand for content analytics solutions in the companies across the globe. So, the global content analytics market is projected to see a stellar growth during the forecast period.
Small and medium sized sector also benefit from content analytics. Content analytics helps small scale enterprises to collect and process data with ease, thereby resulting in better customer services. This stimulates the global content analytics towards exceptional growth during the forecast period.
The above review is based on a TMR report, titled,”(Application - Text Analytics, Video Analytics, Speech Recognition and Language Analyzers, Clustering Engines and Categorizers, Social Media Analytics; Vertical - BFSI, Retail and Consumer Goods, IT and Telecom, Healthcare, Media and Entertainment, Government, Travel and Hospitality, Manufacturing; Deployment - Cloud-based, On-Premise) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026”
The global content analytics market is based on
- Text Analytics
- Video Analytics
- Speech Recognition and Language analyzers
- Clustering Engines and Categorizers
- Social Media Analytics
- Retail and Consumer Goods
- IT and Telecom
- Media and Entertainment
- Travel and Hospitality
- Cloud Based
- On Premise
- North America
- South America
- Asia Pacific
- Middle East & Africa
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