Text Analytics Market Share

Text Analytics Market Share

The global text analytics market remains highly consolidated with technology giants, such as IBM, SAP, and SAS, dominating the market share. Prominent players are placing an ever-growing emphasis on delivering advanced solutions that can cater to the changing dynamics of consumer sentiments, especially during the pandemic. For instance, in July 2020, Microsoft included text mining capabilities within its Azure Cognitive Services product. The text analytics for health feature can process various data types and tasks including extracting more than 100 types of personally identifiable information from unstructured texts.
 

Another major development included the release of COVID-19 search tool by SAS Institute in March 2020, which can extract text and numerical data from more than 50,000 research articles and allow users quick access to relevant information. The market has also witnessed several strategic alliances between key players to launch new products with added functionalities and to maintain revenue share & profitability, such as the June 2019 acquisition of Cooldata by Medallia to propel its big data handling capabilities.
 

Some of the key players operating in the text analytics market are:

• Amazon Web Services (AWS)
• Altair Engineering, Inc. (Angoss Software Corporation)
• Basis Technology
• Bitext Innovations SL
• Brandwatch
• Clarabridge
• IBM Corporation
• Interactions LLC
• Jive Software (Aurea, Inc.)
• Khoros, LLC
• Lexalytics Inc
• Luminoso Technologies Inc
• Medallia Inc
• Megaputer Intelligence, Inc
• Micro Focus LLC
• Microsoft Corporation
• Netbase Solutions
• OpenText Corporation
• RapidMiner Inc
• SAP SE
• SAS Institute Inc
• Unimetric
• Verint Systems, Inc.