Albany - NY, Sept. 22, 2017 (GLOBE NEWSWIRE) -- The global content analytics market has been driven in the recent past by the steady development of big data analytics, which has enhanced the utility of content analytics to enterprises. The intensifying competition in application sectors such as retail, telecom, BFSI, and manufacturing has thus made content analytics valuable, driving the demand from the global content analytics market at a steady pace. The growing use of digital resources in various end use industries and the increasing acceptance and popularity of digital tools among the population is likely to enable steady growth of the content analytics market in the coming years.
The global content analytics market was valued at US$2.5 bn in 2017 and is expected to grow to US$8.1 bn by 2022 at a strong 26.1% CAGR therein.
Here are the key insights into the global content analytics market:
The rising use of big data analytics for customer interaction and product advancement is likely to remain a major driver for the global content analytics market in the coming years. The growing use of digital information input channels is leading to rising use of big data analytics in the corporate sector, making content analytics ever more important. Big data analytics are thus likely to remain important to the global content analytics market, especially due to the rising volume of unstructured data received by enterprises.
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Text analytics is likely to remain the dominant application of content analytics systems in the coming years due to the rising popularity of text input in various media, including but not limited to social media. Accordingly, social media analytics is also likely to remain important for the global content analytics market in the coming years due to its growing popularity. Text content forms the bulk of the material processed in the content analytics due to its widespread use. Text analytics accounted for 24.3% of the global content analytics market in 2017 and is likely to retain a similar share through the 2017-2022 forecast period. The segment is expected to rise to a value of US$1,783.9 mn by 2022.
North America is expected to dominate the global content analytics market in the coming years, with the regional market expected to exhibit a robust 26.5% CAGR in the 2017-2022 forecast period and rise to a valuation of US$2,547.5 mn by 2022. The North America content analytics market was valued at US$787.1 mn in 2017. The widespread presence of leading content analytics end users as well as developers is likely to enable steady dominance of North America in the global content analytics market in the coming years, as the telecom and retail sectors are likely to exhibit rapid growth in the region in the coming years. Content analytics are likely to be vital to players in these sectors due to the advantage it can provide against growing competition, making steady growth of the content analytics market likely in the coming years.
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Europe accounts for more than a quarter of the global content analytics market at present, but is likely to witness a drop in its market share over the coming years. The Europe market is likely to drop 197 BPS over 2017 by 2022, but is likely to remain important to the global market due to widespread adoption of digital resources in the highly developed region.
Competitive Dynamics
Leading companies in the global content analytics market include Google Inc., IBM, Microsoft Corporation, Oracle, SAS, OpenText Corporation, Nice Systems, Adobe Systems, HPE, and SAP. The global content analytics market is likely to remain intensely competitive over the coming years due to the widespread demand for content analytics, which will lead to proactive action from all established market players.
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