Text Mining Global Market Report 2024

Description

Text mining refers to the systematic process of extracting valuable insights and information from unstructured text data. This involves utilizing techniques such as natural language processing (NLP), machine learning, and statistical analysis to uncover patterns, trends, and relationships within extensive textual datasets. Key tasks facilitated by text mining include sentiment analysis, document categorization, and information retrieval.

The primary product types in text mining are on-premise and cloud-based solutions. On-premise text mining software is installed and operated on the organization's internal computers or servers, rather than being hosted on a remote facility or cloud service. These applications find application across various domains including data analysis and forecasting, fraud and spam detection, intelligence and law enforcement, customer relationship management (CRM), NLP-driven text mining, and sentiment analysis. End-users of text mining software span diverse sectors such as healthcare, retail, banking, financial services and insurance (BFSI), government, media and entertainment, among others.

The text mining market research report is one of a series of new reports from The Business Research Company that provides text mining market statistics, including text mining industry global market size, regional shares, competitors with a text mining market share, detailed text mining market segments, market trends and opportunities, and any further data you may need to thrive in the text mining industry. This text mining market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The text mining market size has grown exponentially in recent years. It will grow from $5.86 billion in 2023 to $7.05 billion in 2024 at a compound annual growth rate (CAGR) of 20.3%. The expansion witnessed in the historical period can be ascribed to several factors including the increasing need for data-driven decision-making across industries, advancements in machine learning algorithms, the integration of text mining capabilities with customer relationship management (CRM) systems, compliance with regulatory requirements, the rise of sentiment analysis techniques, and the adoption of text mining for fraud detection and risk management purposes.

The text mining market size is expected to see exponential growth in the next few years. It will grow to $14.82 billion in 2028 at a compound annual growth rate (CAGR) of 20.4%. The anticipated growth in the forecast period can be attributed to several key drivers, including the rising demand for efficient extraction and analysis of data from unstructured text sources, the expansion of various industries, the integration of text mining with other data analytics tools to provide comprehensive insights, a heightened focus on customer experience management and personalization strategies, increased awareness among enterprises regarding the benefits of text mining, and the continued growth of big data analytics capabilities. Key trends expected to shape the forecast period include advancements in text classification techniques, the implementation of topic modeling algorithms, improved contextual understanding of text data, the development of multilingual text mining solutions to cater to diverse language requirements, and ongoing advancements in deep learning methodologies for text analysis.

The upward trajectory of digitization is poised to be a significant driver propelling the growth of the text mining market in the foreseeable future. Digitization, characterized by the conversion of analog information into digital format, serves as a cornerstone for streamlining processes, enhancing connectivity, and facilitating efficient access to information across various sectors. The growing digitization trend plays a pivotal role in enabling efficient text mining endeavors by transforming analog data into machine-readable formats, thereby empowering advanced analysis and extraction of valuable insights from textual content. For instance, insights from the Central Digital and Data Office in November 2023 highlight a notable 19% expansion within the government's digital and data profession between April 2022 and April 2023, effectively meeting crucial demands for digital expertise. This underscores the pivotal role of digitization in propelling the growth trajectory of the text mining market.

Key players within the text mining market landscape are strategically focused on developing advanced solutions, notably advanced natural language processing (NLP), to gain a competitive edge in the market. Advanced NLP holds significant utility in text mining endeavors as it enhances text mining capabilities by enabling more accurate, efficient, and nuanced analysis of textual data. For instance, ONTOFORCE NV, a leading data science company based in Belgium, launched advanced Natural Language Processing (NLP) capabilities in May 2023 to unlock valuable insights from unstructured data sources in life sciences. This strategic initiative aligns with the increasing significance of NLP within the industry, where up to 80% of data is stored in unstructured formats, posing challenges for access and analysis. By leveraging advanced NLP capabilities, organizations can extract meaningful insights from unstructured textual data, thereby enhancing decision-making processes and driving innovation across diverse domains.

In December 2022, Babel Street Inc., a US-based provider of virtual data and intelligence solutions, acquired the text analytics platform Rosette from BasisTech LLC for an undisclosed sum. This strategic acquisition underscores Babel Street's dedication to delivering innovative solutions for identity intelligence and risk operations, tailored to the requirements of government and commercial institutions. BasisTech LLC, a US-based software development company, offers text mining capabilities as part of its text analytics platform.

Major companies operating in the text mining market are Microsoft Corporation, International Business Machines Corporation, SAP SE, Capgemini SE, SAS Institute, Confirmit, Basis Technology, Kingland Systems LLC, KNIME, Altair Engineering Inc., RapidMiner, Bitext, Mozenda, InMoment, Semantic Web Company GmbH, Wonderflow, PrediCX, NextWealth Entrepreneurs Private Limited, Angoss Software Corporation, Averbis GmbH, Netowl Inc., MeaningCloud, DeepOpinion, Funnel Science, SmatSocial

North America was the largest region in the text mining market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the text mining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the text mining market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The text mining market includes revenues earned by entities by providing services such as named entity recognition (NER), topic modeling, entity recognition, document summarization, and sentiment analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Text Mining Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on text mining market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Where is the largest and fastest growing market for text mining ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The text mining market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Product: On-premise; Cloud-based
2) By Application: Data Analysis And Forecasting; Fraud Or Spam Detection; Intelligence And Law Enforcement; Customer Relationship Management (CRM); Text Mining For Natural Language Processing (NLP); Text Mining For Sentiment Analysis
3) By End-Use: Healthcare; Retail; Banking, Financial Services And Insurance (BFSI); Government; Media And Entertainment; Other End Users
Companies Mentioned: Microsoft Corporation; International Business Machines Corporation; SAP SE; Capgemini SE; SAS Institute
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r17652

1. Executive Summary

2. Text Mining Market Characteristics

3. Text Mining Market Trends And Strategies

4. Text Mining Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Text Mining Market Size and Growth

5.1. Global Text Mining Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Text Mining Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Text Mining Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Text Mining Market Segmentation

6.1. Global Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-premise
Cloud-based
6.2. Global Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Data Analysis And Forecasting
Fraud Or Spam Detection
Intelligence And Law Enforcement
Customer Relationship Management (CRM)
Text Mining For Natural Language Processing (NLP)
Text Mining For Sentiment Analysis
6.3. Global Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Healthcare
Retail
Banking, Financial Services And Insurance (BFSI)
Government
Media And Entertainment
Other End Users

7. Text Mining Market Regional And Country Analysis

7.1. Global Text Mining Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Text Mining Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Text Mining Market

8.1. Asia-Pacific Text Mining Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Text Mining Market

9.1. China Text Mining Market Overview
9.2. China Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Text Mining Market

10.1. India Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Text Mining Market

11.1. Japan Text Mining Market Overview
11.2. Japan Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Text Mining Market

12.1. Australia Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Text Mining Market

13.1. Indonesia Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Text Mining Market

14.1. South Korea Text Mining Market Overview
14.2. South Korea Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Text Mining Market

15.1. Western Europe Text Mining Market Overview
15.2. Western Europe Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Text Mining Market

16.1. UK Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Text Mining Market

17.1. Germany Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Text Mining Market

18.1. France Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Text Mining Market

19.1. Italy Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Text Mining Market

20.1. Spain Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Text Mining Market

21.1. Eastern Europe Text Mining Market Overview
21.2. Eastern Europe Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Text Mining Market

22.1. Russia Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Text Mining Market

23.1. North America Text Mining Market Overview
23.2. North America Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Text Mining Market

24.1. USA Text Mining Market Overview
24.2. USA Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Text Mining Market

25.1. Canada Text Mining Market Overview
25.2. Canada Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Text Mining Market

26.1. South America Text Mining Market Overview
26.2. South America Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Text Mining Market

27.1. Brazil Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Text Mining Market

28.1. Middle East Text Mining Market Overview
28.2. Middle East Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Text Mining Market

29.1. Africa Text Mining Market Overview
29.2. Africa Text Mining Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Text Mining Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Text Mining Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Text Mining Market Competitive Landscape And Company Profiles

30.1. Text Mining Market Competitive Landscape
30.2. Text Mining Market Company Profiles
- 30.2.1. Microsoft Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. International Business Machines Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. SAP SE
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Capgemini SE
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. SAS Institute
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Text Mining Market Other Major And Innovative Companies

31.1. Confirmit
31.2. Basis Technology
31.3. Kingland Systems LLC
31.4. KNIME
31.5. Altair Engineering Inc.
31.6. RapidMiner
31.7. Bitext
31.8. Mozenda
31.9. InMoment
31.10. Semantic Web Company GmbH
31.11. Wonderflow
31.12. PrediCX
31.13. NextWealth Entrepreneurs Private Limited
31.14. Angoss Software Corporation
31.15. Averbis GmbH

32. Global Text Mining Market Competitive Benchmarking

33. Global Text Mining Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Text Mining Market

35. Text Mining Market Future Outlook and Potential Analysis

35.1 Text Mining Market In 2028 - Countries Offering Most New Opportunities
35.2 Text Mining Market In 2028 - Segments Offering Most New Opportunities
35.3 Text Mining Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer