Content Analytics Market: Segmented: By Deployment Type (On-Premise, Cloud-Based), By Application (Text Analytics, Video Analytics, Social Media Analytics, Speech Analytics, Others), By Industry Vertical (BFSI, Healthcare, Retail & Consumer Goods, IT & Telecom, Manufacturing, Others), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
[ 170 + Pages Research Report ] Content Analytics to surpass USD 29.3 Billion by 2032 from USD 4.4 Billion in 2021 at a CAGR of 18.8% in the coming years, i.e., 2022-32.
Content analytics Market refers to the collection of applications and tools used by enterprises to process the large volumes of data produced in digital content form on multiple platforms, mainly the internet. Besides assisting businesses to learn more about their customers, content analytics also helps them learn about what other players in their market are doing. This will not just help businesses to stay competitive, but will also allow them to learn from the mistakes of their competitors. Social media, public websites, and customer communications are just a few examples of different types of sources that give enterprises vast and thorough information about the numerous elements affecting their performance and results.
The Content Analytics Market is expected to project a notable CAGR of 18.8% in 2032.
The increasing demand for real-time data analytics from organizations worldwide is one of the primary factors for the growth of the content analytics market over the forecast period. Furthermore, with the big data technologies and development of the Internet of Things (IoT), content analytics would continue to witness significant growth and remain one of the key reasons fueling the overall progress of the content analytics market.
The Cloud-Based segment is expected to grow with a higher CAGR during 2022-32
Content Analytics Market is categorized on the basis of Deployment Type into On-Premise and Cloud-Based. The Cloud-based segment is expected to hold a major market share over the forecast period. The Cloud-based segment is expected to lead and be the fastest-growing segment among others. They are inexpensive and simple to deploy, due to which cloud solutions are widely used by small and medium-sized businesses. Small and medium-sized businesses (SMEs) can improve their customer services by using cloud solutions to access large volumes of data quickly and affordably. Moreover, owing to the benefits described above, most businesses are switching from on-premise implementation to cloud-based solutions.
The Social Media Analytics segment is expected to grow with a higher CAGR during 2022-32
Content Analytics Market is categorized on the basis of application into Text Analytics, Video Analytics, Social Media Analytics, Speech Analytics, and Others. Over the forecast period, the social media analytics segment is projected to grow at a higher growth rate. The major reason for the growth of the segment is the increasing demand for social media analytics software and solutions by enterprises across the globe. The growing data of social networking in different forms like videos, text, and photographs is among the key driving factors of the market.
Speedy Digitalization in the Government Sector and Growing Demand for Advanced Analytics and Business Intelligence
One of the key drivers of the global content analytics market is the quick transition of the government sector toward digital technology. The demand for content analytics is also increasing due to the convergence of text analytics and big data to generate useful business insights that help companies in understanding customer behavior. In addition, the expanding usage of social media, the threat of terrorism, and communication technology developments are all predicted to drive growth in the global content analytics market in the years to come.
Growing Demand for Real-Time Data Analytics due to its Advantages to Organizations
One major growth opportunity for the content analytics market is the rising demand for real-time data analytics from multiple businesses. Real-time content analytic solutions are increasingly demanded owing to the benefits like quick and precise results and cost-effectiveness. The demand for content analytics has also increased as a result of the fierce competition among industry participants. Companies can provide their items to customers before launched by the competitors through the use of real-time content analytics to understand industry trends and client demand.
High Costs of Content Analytics Solution and Less Knowledge on Operation
The market is being constrained by high costs, low awareness by the end-users, and a lack of expertise in software handling. Most enterprises either postpone or stop content processing projects when they learn about the overall resources needs. The expansion of content analytics adoptions among small and medium organizations has been constrained by the expensive price structures of these solutions.
Content Analytics Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America region is expected to account for the maximum market share owing to the widespread use of data management technologies in a variety of end-user industries. This is a key driver in the growth of various analytical solutions, including content analytics solutions. Moreover, the region's growing e-commerce sector and the increased use of social networking sites are anticipated to support the industry's growth. During the anticipated period, Europe is anticipated to witness significant growth. The region's growth will be attributed to the expansion of the retail industry in major economies like Germany, Italy, and the UK and the speed of technological advancement.
Throughout the pandemic period, businesses shifted to deploy the recently improved automated processes and opted for digitization. The demand for content analytics software has expanded due to the rising use of cloud-based technologies. Such software was increasingly adopted by enterprises and corporations, which boosted the progress of the content analytics market. The potential of the market is again increasing as COVID-19’s impact is steadily decreasing.
Content Analytics Market is further segmented by region into:
Content Analytics Market Segments:
|Market size value in 2021||USD 4.4 Billion|
|Revenue forecast in 2032||USD 29.3 Billion|
|Growth Rate||CAGR of 18.8% from 2022 to 2032|
|Base year for estimation||2021|
|Quantitative units||Revenue in USD million and CAGR from 2022 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Deployment Type, Application, Industry Vertical, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||SAP SE, IBM Corporation, Oracle Corporation, Google LLC, Open Text Corporation, Nice Systems Ltd, Adobe Systems Inc, Interactive Intelligence Group Inc, Verint Systems, Clarabridge Inc, SAS Institute INC, Everteam, Genesys, TIBCO Software Inc, ITyX Solutions AG, and Other Prominent Players.|
The Content Analytics Market size was estimated at USD 4.4 Billion in 2021 and is expected to reach USD 29.3 Billion in 2032.
Content Analytics is the technique of incorporating business intelligence data and business analytics processes into digital content. This streamlines multiple business processes and helps them to get a number of advantages like quick access to and views of the type, volume, and ways to flourish in the near future.
The Cloud-based and Social Media Analytics segments accounted for the larger share of the Content Analytics Market.
Key players in the Content Analytics Market are SAP SE, IBM Corporation, Oracle Corporation, Google LLC, Open Text Corporation, Nice Systems Ltd, Adobe Systems Inc, Interactive Intelligence Group Inc, Verint Systems, Clarabridge Inc, SAS Institute INC, Everteam, Genesys, TIBCO Software Inc, ITyX Solutions AG, and Other Prominent Players.
The major drivers of the Content Analytics Market are the speedy digitalization in the government sector and the growing convergence of text analytics with big data.
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