Search and content analytics: Key market research findings
- The Americas dominate the market geographically
- Retail segment accounts for a majority of the market’s revenue
- Key vendors – Google, HP, Microsoft, IBM, and SAS
Technavio’s market research analysts predict the global market for search and content analytics to grow at a CAGR of over 22% between 2016 and 2020. The growth of the market can be accredited primarily to the increasing use of social media for content analytics. Social media analytics is used as a customer listening post to receive and understand customer reviews and feedback. The most prominent social media websites through which data is captured and analyzed include Facebook and Twitter. During 2015, the global search and content analytics market was dominated by the Americas with a market share of almost 52%. The increase in data generation across various industries such as retail, BFSI, healthcare, and public due to the increase in digital transformation will drive the search and content analytics market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analytics of the search and content analytics segments based on the end-user.
“Predictive analytics provides actionable insights into data of an organization. As a result, there is an upsurge in the demand for predictive analytics among end-users in the market. It uses various techniques such as data mining, modeling, machine learning, and game theory to provide an estimation of future outcomes. Predictive analytics is used in all major industries such as retail, healthcare, manufacturing, IT, BFSI, and education,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research.
By 2020, the retail segment will account for more than 29% of the overall market share to become the dominant shareholder in the global search and content analytics market. With content analytics solutions, retailers can analyze customer e-mails and their consistencies on a timely basis so that retailers can take appropriate action according to the changing demand to improve customer services and sales. Retailers gain competitive advantages through the adoption of content analytics systems as these solutions allow employees to focus on their core functions, enhancing the productivity by performing real-time analytics of customer responses to price and product changes.
The key vendors in the global search and content analytics market include Google, HP, Microsoft, IBM, and SAS. Smaller players in analytics such as OpenText, Teradata, and EMC, and others, including Oracle, Hyland, Newgen Software are gaining market share and are trying to differentiate themselves from other vendors with factors such as pricing, training, and support for software license, features, customer service, and flexibility. The competition in the market is intense as vendors are trying to sustain in the market by improving their delivery models using technology.
A more detailed analytics is available in the Technavio report, Global Search and Content Analytics Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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