European Market Accounted for A Share of 25.7% of the Global Text Analytics Market

Date: 2015-08-13

“The European text analytics market is estimated to grow at a CAGR of 18.3% during the forecast period of 2014 to 2019. The U.K. holds the largest share in the European market, followed by Germany and France. The growth of the text analytics market in this region is driven by technological advancements and the growing need of organizations to gain useful insights from the large amounts data available to facilitate effective decision making. 

The European text analytics market has been segmented and forecast on the basis of applications such as data analysis, enterprise, search-based, and web-based and software, among others. The market has also been segmented and analyzed in terms of the main countries of the region, such as the U.K., Germany, and France, among others. The increase in the usage of social media analytics by organizations to analyze consumer behavior and design strategies accordingly is among the key drivers for the growth of the European text analytics market. In addition, organizations in the region are adopting text and related analytics solutions to gain competitive advantages over competitors in the European market. 

The European market accounted for a share of 25.7% of the global market in 2014. The U.K. segment held the largest share of approximately 27% of the European text analytics market in the same year. The segment in Germany is projected to grow at the fastest CAGR of 22.1% during the forecast period of 2014 to 2019. 

Furthermore, the report provides a detailed description of the competitive landscape of the European text analytics market, along with the profiles and development strategies of the key players in the market. Microsoft Corporation, IBM, Oracle Corporation, SAS, and SAP are the top players in the European text analytics market, as of 2014. These companies have adopted innovation, new product launches, and joint ventures as their key strategies to boost their growth in the European market. 


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