New York, US, Jan. 12, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Content Analytics Market, By Application, By Deployment, By Vertical - Forecast 2030, the market is anticipated to acquire a valuation of approximately USD 20.2 billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 19.2% during the assessment timeframe.
Key Players
Eminent players profiled in the content analytics market report include-
- International Business Machine Corporation (U.S.)
- Adobe Systems, INC. (U.S.)
- Clarabridge, INC. (U.S.)
- Interactive Intelligence Group, INC. (U.S.)
- Opentext Corporation (Canada)
- Oracle Corporation (U.S.)
- Verint Systems (U.S.)
- Nice Systems LTD. (Israel)
- SAP SE (Germany)
- SAS Institute, INC. (U.S.).
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Industry Updates
- January 09, 2023- In addition to its collection of Social Sentiment feeds, Context Analytics also unveiled its Private Company Database, a new asset class. Investors now have a new tool for analyzing social brand and model pricing on the top Private Companies thanks to the Private Company Database, an API feed that presents metrics on Twitter conversations about these Private Companies.
Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 20.2 billion |
| Growth Rate | CAGR of 19.2% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Burgeoning Need for Real-Time Data Analytics to offer Robust Opportunities |
| Key Market Drivers | Growing Need for Digitalization in Government Sector to Boost Market Growth |
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Content Analytics Market Dynamics
Drivers
Growing Need for Digitalization in Government Sector to Boost Market Growth
In the upcoming years, the government sector's rising desire for digitalization is projected to continue to be a key driver of the worldwide content analytics market. Due to the growing importance of digital identity systems placed by a number of developing nations and the growing push to digitalize population records, the government sector offers enormous potential for the content analytics market.
Opportunities
Burgeoning Need for Real-Time Data Analytics to offer Robust Opportunities
One of the key growth areas for the content analytics market is the rising demand for real-time data analytics from various enterprises. Real-time content analytic solutions are in high demand in the industry because of features like quick and precise results and cost-effectiveness.
Restraints
Poor Customer Relationship Management to act as Market Restraint
The poor customer relationship management coupled with high price of content analytics software may act as market restraints over the forecast period.
Challenges
Data Breach Concerns to act as Market Challenge
Concerns related to data breach and stringent government regulations may act as market challenges over the forecast period.
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Content Analytics Market Segmentation
The global content analytics market is bifurcated based on application, deployment, and vertical.
By application, social media analytics will lead the market over the forecast period. Brands can utilize social media analytics to make targeted decisions using data from external marketing. It is essential to extrapolate useful insights from the increasing volume of data shared on social media. More people are utilizing social media, and these websites generate a wide range of information. Social media analytics significantly contributes to the growth of the content analytics market since social media platforms are being used more frequently for advertising and customer service.
By deployment, cloud will dominate the market over the forecast period. This can be related to the effectiveness of cloud deployment. It does away with the necessity for an IT team. The vendor may carry out the monitoring. Small and medium-sized businesses favor cloud implementation, too.
By vertical, retail & consumer goods will spearhead the market over the forecast period. Modern technologies like artificial intelligence, machine learning, and NPL are used in content analytics to uncover hidden information about consumers' content consumption patterns. This makes it possible for shops to raise the quality of their products by paying attention to trends and consumer preferences. Using text analytics, businesses can swiftly assess client input and alter their business practices.
COVID-19 Analysis
The COVID19 pandemic wreaked havoc on people all over the world. The pace of economic growth around the world sank to its lowest levels. In order to maintain its daily operations, every industry and corporation faced several obstacles. Due to the requirements of the lockdown, all manufacturing and industrial activity was closed. Along with the global financial and health crises, the industry for content analytics also faced some challenges. The market was able to continue growing steadily despite these challenging conditions because to the efforts of leading market participants.
Businesses tended to deploy increasingly automated processes and choose digitization throughout the pandemic. The demand for content analytics software has expanded as a result of the rising use of cloud-based technologies. Such software was increasingly adopted by enterprises and corporations, which boosted the expansion of the content analytics market. The market potential is increasing once more as COVID19's influence is gradually decreasing.
Regional Analysis
North America to Sway Content Analytics Market
Due to the growing adoption of cloud-based solutions by businesses and the need to strengthen information governance within enterprises, North America is predicted to experience market expansion for content analytics. The largest market share is predicted to come from North America. This can be ascribed to the region's early embrace of cutting-edge technologies. A bigger audience now has access to consume online material thanks to the region's rising internet usage. North America is home to the largest adoption of data management technology across a variety of end-user industries, which has had a significant impact on the development of numerous analytical tools, including content analytics solutions. The biggest players are based in the US and include IBM Corporation, Oracle, SAP SE, and Microsoft Corporation. Additionally, it is projected that growing e-commerce and social networking sites in the region will drive market growth.
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APAC to Have Admirable Growth in Content Analytics Market
Due to ongoing expenditures in the market's research and development for content analytics, it is predicted that the Asia Pacific region would have the quickest growth. The region's content analytics market is expanding significantly due to the strong growth in e-commerce trends used to draw in new customers. Small and medium-sized businesses are using content analytics technologies more frequently in the Asia Pacific region. The rapid growth of their populations, their IT environments, and their e-commerce sectors has led emerging nations like China and India to use content analytics solutions widely. Additionally, the region's content analytics market is expanding due to competitive advantage, a growing retail industry, and widespread technology improvements in cloud, analytics, and mobile technologies.
Due to the growing importance of computer vision software, predictive analytics, and natural language processing, the Asia Pacific region is anticipated to offer attractive growth prospects. It has become more common, for instance, to organize training data for natural language processing using artificial data. Additionally, the market is anticipated to grow during the projected period due to the region's growing adoption of content analytics tools by different verticals.
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