Text Analytics Market is estimated to be US$ 25.58 billion by 2030 with a CAGR of 17% during the for

Nehashaikh09 May, 2022News

The global Text Analytics market accounted for US$ 5.4 billion in 2020 and is estimated to be US$ 25.58 billion by 2030 and is anticipated to register a CAGR of 17%. Text analytics, often known as text data mining or text mining, is a technique for extracting high-quality information from text. Statistical pattern learning, for example, is a standard way for acquiring high-quality data by creating patterns and trends. Text analytics software helps organizations better understand their customers by analyzing data from a variety of sources and supporting them in determining client wishes and purchasing behaviors. The ability of text analytics to interpret hidden feelings in text is one of the most intriguing aspects of this sector. Text analytics is used in a range of industries, including food and beverage, telecommunications, government, retail, healthcare, pharmaceuticals, banking, financial services, and insurance, to name a few.