According to the report, Increased Use of NLP Technology Due to Growing Need for Multilingual Text Analytics is one of the primary growth factors for the market. Surging Demand for Text Mining to Extract Valuable Information and Improve Customer Experience
is also expected to contribute significantly to the Text Mining - market. Overall, Sentiment Analysis
applications of Text Mining -, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. New players are beginning to enter the market and established companies have been changing their business models – a trend that will continue in the future.
AMAs Analyst on the Global Text Mining - Market identified that the demand is rising in many different parts of the world due to "High Application of Text Mining in Healthcare & Lifesciences to Understand Complex Medical Terms and Provide Effective Medical Treatment". Furthermore, some recent industry insights like "In 2020, Microsoft added Hindi to its text analytics service to strengthen customer sentiment analysis support for businesses. Text analytics services use the latest AI models with NLP technology to analyze Hindi content for text mining or text analysis. IT also provides sentiment labels based on the highest confidence score that helps businesses to gain insights about their brands and products or service offerings." is constantly making the industry dynamic. One of the challenges that industry facing is "Same Meaning of Multiple Words or Multiple Meaning of Same Words May Lead to the Ambiguity"
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Text Mining - market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Text Mining - market and other related sub-markets covered in the study.
o Key & emerging players in the Text Mining - market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Text Mining - market size is calculated using market estimation process, the Text Mining - market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Text Mining - market size has been validated using both top-down and bottom-up approaches.