Technavio, a tech-focused market research firm, has published a new report on the global sentiment analysis software market, which is expected to grow at a CAGR of more than 16% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global sentiment analysis market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Sentiment analysis software market in the Americas: The increased adoption of sentiment analysis software by industry verticals, such as retail, BFSI, and healthcare is the driving force behind the growth of the market in the Americas. The adoption of risk management software helps improve risk management systems in BFSI and focus on marketing abilities and customer experience by other sectors.
According to Ishmeet Kaur, a lead analyst at Technavio, specializing in research on enterprise application, “The rise in data generation across various industries due to the increase in digital transformation such as digitalization of workspace, access via mobile apps and websites, online transactions, online purchases and sells, and virtualization of desktops is anticipated to fuel further growth of the sentiment analysis software market in the Americas during the forecast period.”
Sentiment analysis software market in EMEA: Small- and medium-sized businesses (SMBs) in the region are increasingly using sentiment analysis software to improve their brand reputation, thereby driving the growth of the sentiment analysis software market in EMEA. Social media, cloud, and analytics are key enablers of rising popularity of the sentiment analysis software in the European Union nations. According to market research analysts at Technavio, France and Germany are expected to emerge as key revenue contributors in the market in this region by 2021.
Sentiment analysis software market in APAC: APAC was the fastest-growing sentiment analysis software market during 2016. The rapid growth of the market in this region is attributable to the proactive effort to digitize systems among organizations in this region. The financial sector is one of the key end-users of sentimental analysis software in the APAC region. The region presents tremendous potential owing to the growth of population-driven industries such as healthcare, banking, retail/wholesale, and telecommunications, as well as the early adoption of IT by the developing countries.
The leading vendors operating in the global sentimental analysis software market are:
- Angoss Software
- Clarabridge
- IBM
- SAS Institute
Other prominent vendors in the market include Bitext, Brandwatch, General Sentiment, Lexalytics, Meltwater, NetOwl, OdinText, OpenText, QuestionPro Survey Software, Social Smart Software, and Trackur.
A more detailed analysis is available in the Technavio report titled, ‘Global Sentiment Analysis Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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