(PRWEB) November 09, 2014
The Middle East and African Text Analytics Market report defines and segments the text analytics market in Middle East and Africa (MEA) with analysis and forecast of revenue. This market is estimated to grow from $ 203.2 million in 2013 to $ 477.0 million in 2018, at a CAGR of 18.6% from 2013 to 2018.
Browse through the TOC of the Middle East and African Text Analytics Market report to get an idea of the in-depth analysis provided. It also provides a glimpse of the segmentation in the market, and is supported by various tables and figures.
Text analytics is used to process a bulk of unstructured data in a short span of time. As organizations are realizing the usefulness of extracting valuable information from scattered texts populated all over the web, the demand for text analytics solutions is increasing gradually. With the help of these insights, organizations develop customer-centric business approaches and promote brand building. Some years ago, language was the biggest barrier for marketers to understand customer psychology and thought process.
However, with the advancement of technology, analytics software are now capable of drawing information from different languages. This user-friendly interface is helping organizations to capture global trends and identify potential markets, hence giving them lucrative means to do business.
Contact centers are vital segments of an enterprise that corporate executives have to look upon in order to grow their business. In the MEA region, contact centers are strategically transforming from cost centers to assets providing crucial information on to how to improve customer loyalty. There is a huge chunk of unstructured data flooding the web. However, it is essential to identify the exact data required to run a marketing campaign effectively. Text analytics enables users to analyze and extract important information, which can be merged with existing structured data to arrive at specific solutions. By properly analyzing this information, an organization has the right information required to reach out to potential customers and retain brand loyalty. In short, text analytics provides solutions to gain value from customer feedback, surveys, and more. Hence, text analytics is enabling organizations to become more customer-centric.
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The MEA region holds a 12.0% market share in the global text analytics market. The Middle East and Africa text analytics market has been segmented and forecast on the basis of sub-markets that include data analysis applications, enterprise applications, search-based applications, web-based and software applications, and others. The market is further segmented on the basis of end users such as enterprises and small and medium businesses (SMB).
Early buyers will receive 10% customization on this report.
The report also includes market shares and value chain analyses, and market metrics such as drivers and restraints. In addition, it presents a competitive landscape and company profiles of the key players in this market.
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North America Text Analytics Market
The North America Text Analytics market is expected to grow from $ 827.1 million in 2014 to $ 1,995.8 million by 2019 at an estimated CAGR of 19.3%, during the forecast period. Growth of social media for brand building is one of the main drivers for North America Text Analytics.
Text analytics is the process of deriving information from text sources. It is used for several purposes, such as summarization, sentiment analysis, investigation and classification of text information for a particular subject or content.
North America has the largest market share in the text analytics market. Mass adoption of mobile technology and extensive use of social media is one of the major driving factors for the text analytics market in this region. Nowadays, organizations are using various social media for brand building such as LinkedIn, Twitter, Facebook and Google Plus for brand building and connecting with their customers who will create huge amount of data through surveys and feedback. In order to know the insights of the data, social media are equipped with Natural Language Processing (NLP). This will help organizations in considering currents trends and creation of brand image.
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