NEW YORK, April 29, 2015 /PRNewswire/ -- The North Americantext analytics market is estimated to grow at a CAGR of 19.3% from 2014 to 2019. Although the U.S. holds the larger shares in the North Americantext analytics market, Canada is expected to grow considerably. The growth of text analytics market in this region is driven by technological advancement and the urge of getting useful data from the big data available on web. However, text analytics is time consuming when it comes to search for a particular information specific to a particular word. Moreover, emerging economies such as the U.S. and Canada are creating growth opportunities for the North Americantext analytics solutions in this region.
The North Americantext analytics market is segmented and forecast on the basis of submarkets such as data analysis applications, enterprise applications, search-based applications, web-based and software applications, and others. The North Americantext analytics market is also segmented on the basis of major countries in this region such as the U.S., Canada, and Mexico. Factors such as increase in usage of social media to analyze the consumer behavior by the organization to design the strategies accordingly and the rapid growth in the tech-savvy population are driving the growth of the text analytics market in SMB's in this region.
Geographically, North America is estimated to command the share of 38.7% by 2014 of the global text analytics market. The U.S. holds the share of 77.2% of the overall North Americantext analytics market, by 2014.TheNorth Americantext analytics market is primarily driven by the technological advancement and extensive use of social media in this region.
As of 2014, the North Americantext analytics market is estimated to be dominated by IBM (U.S.), Microsoft Business Division(U.S.), and Dummy Oracle Services (U.S). New product launches, partnerships, acquisitions, and collaborations are the major strategies adopted by the most of the players to achieve growth in the North American text analytics market.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends, and PEST analysis), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging- and high-growth segments of the North American text analytics market, high-growth countries and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater market, share. Firms purchasing the report could use any one or combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on North American text analytics solutions offered by the top 10 players in the North Americantext analytics market
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the North Americantext analytics market.
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various North American text analytics solutions across geographies.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the North American text analytics solutions.
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading pla
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