by Angela Guess

A new press release states, “Rising focus of technological giants such as Microsoft, IBM, Google, and Apple towards improvement of text analytics techniques and principles has granted momentum to R&D activities in the field of text analytics in the past few years. And now, new and highly effective text analytics solutions are entering the market at a rapid pace and demand for effective solutions is soaring, notes Transparency Market Research (TMR) in a recent report. As the demand from consumers rises at a sustained pace and the influx of highly efficient text analytics solutions continues to remain swift, the global market for text analytics will witness development at a rapid pace in the years to come, points TMR. Some of the leading vendors in the global text analytics market are IBM Corporation, SAP SE, RapidMiner, Inc., Attensity Group, Inc., Lexalytics, Inc. Microsoft Corporation, and Angoss Software Corporation.”

The release continues, “The global text analytics market is majorly driven by the rising volumes of structured and unstructured text data across organizations, which is triggered primarily from a continuously rising user base on social media platforms, expanding web of the Internet, and the increased use of mobile communication devices… Rising awareness about the enormous value of text analytics principles in gaining an extensive understanding of consumer preferences, maturing technology, and improved computing power of computers are also encouraging the favorable development of text analytics market.”

Read more at SBwire.

Photo credit: Transparency Market Research