The Global Content Analytics Market size is expected to reach $16.4 billion by 2028, rising at a market growth of 18.2% CAGR during the forecast period.
The term "content analytics" refers to a group of technologies for examining how users engage with digital material, such as news websites, documents, and customer discussions, among other things. The amount of data generated by various people is growing as digitalization continues to advance.
As people connect with digital technologies more frequently, they will produce more information that reveals their interests, opinions, and proclivities. It might even mark the beginning of a period in which businesses' primary sources of competitive intelligence will be online content and information analytics.
The increased need for data internationally is anticipated to lead to an expansion of the content analytics software market, worldwide. With the use of content management software, photographs, new documents, videos, and other internet information may be organised and stored. Additionally, an organisation may simply write, evaluate, modify, and publish electronic material thanks to the numerous apps and tools provided by these platforms.
The market for content management software is being propelled by quickly expanding contributions from sectors like government, life science, medical, retail, consumer goods, and the military. Similar to how the market for content management software is forecast to grow, the need for data is expected to increase rapidly, and there will be an increase in the number of virtual platforms.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The below illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Product Launches and Product Expansions.
The COVID19 pandemic wreaked havoc around the globe. The rate of economic growth on a worldwide scale reached its lowest values. Every industry and company has to overcome several obstacles to carry on with daily operations. Due to the shutdown restrictions, industrial operations and production facilities remained shuttered. As when the world was passing through a serious health and financial crisis, the industry for content analytics also faced some challenges. However, despite these challenging conditions, the market was able to continue steady expansion due to the efforts of major market participants.
The increased usage of mobile devices and tablets that have internet connection, together with the volume of people using social media platforms, are factors that are credited with the rise of the text analytics market. Natural language processing and sentiment analysis are used in social media analytics to analyse consumer surveys and their comments on various goods, which helps the firm gain much more insightful data.
Big data is a crucial component for comprehending the requirements and procedures of businesses, whether it be for marketing and competitive intelligence, social media monitoring, customer relationship management, operational risk mitigation, or threat identification. Companies are using predictive analytics to streamline internal processes, increase customer happiness, manage budgets, find new markets, and foresee the effects of upcoming events. As a result, the market for content analytics is expanding due to the increasing importance of text analytics.
Contact centres have a high target density and are labor- and money-intensive. Most firms, especially small and medium-sized businesses (SMEs), find it challenging to implement analytics tools and allocate a budget for a dedicated analytics team because the initial setup cost may be significant. Smaller companies are unable to use dependable PRI phone systems due to the associated setup and upgrade expenses, expensive monthly phone service fees, and lengthy contracts with traditional telecom providers for local and long-distance calling. The market for content analytics is being constrained by this constraint.
Based on Deployment, the market is divided into Cloud and On-Premises. In 2021, the cloud segment dominated the market with largest revenue share. Due to the growing enterprise adoption of SaaS applications, cloud-based content analytics solutions have such a tremendous amount of development potential. In addition, cloud solutions are less expensive, making cloud adoption easily affordable for small and medium-sized organisations. With more control on their data and the ability to customise the solution to meet their needs, customers benefit from on-higher premise's level of flexibility and safety.
Based on verticals, the market is categorized into banking, financial services, insurance, healthcare, retail and consumer goods, information technology and telecommunications, media and entertainment, travel and hospitality, government, and others. The healthcare industry is projected to grow rapidly in 2021. Organizations in the healthcare sector utilise content analytics to map customer data, examine customer behaviour through past contacts, and connect customer data with the appropriate content section to provide personalised content for customers.
Based on Application, the market is classified into Text Analytics, Web Analytics, Speech Analytics, Social Media Analytics, and Others. In 2021, text analytics had the largest revenue share in the market. Because text analytics makes it easier to glean insights from unstructured data, it's a well-liked strategy for increasing the profitability of enterprises. With the emergence of real-time analytics and big data analytics, the market has potential for growth.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 5.2 Billion |
| Market size forecast in 2028 | USD 16.4 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 18.2% from 2022 to 2028 |
| Number of Pages | 267 |
| Number of Tables | 413 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Deployment, Application, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on geography, the market is classified into North America, Europe, Asia Pacific, and LAMEA. In terms of revenue share, North America dominated in 2021. North America is home to the largest adoption of data management technology across a variety of end-user industries, which has had a significant impact on the development of numerous analytical tools, including content analytics solutions. The biggest players are based in the US and include IBM Corporation, Oracle, SAP SE, and Microsoft Corporation.
Free Valuable Insights: Global Content Analytics Market size to reach USD 16.4 Billion by 2028
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation is the major forerunner in the Content Analytics Market. Companies such as IBM Corporation, SAP SE and Oracle Corporation are some of the key innovators in Content Analytics Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, SAP SE, OpenText Corporation, IBM Corporation, Microsoft Corporation, Qualtrics International Inc. (Clarabridge, Inc.), NICE Ltd., Verint Systems, Inc., Adobe, Inc., and SAS Institute, Inc.
By Deployment
By Vertical
By Application
By Geography
The global Content Analytics Market size is expected to reach $16.4 billion by 2028.
Increase In The Requirement For Social Media Analytics are driving the market in coming years, however, High Price restraints the growth of the market.
Oracle Corporation, SAP SE, OpenText Corporation, IBM Corporation, Microsoft Corporation, Qualtrics International Inc. (Clarabridge, Inc.), NICE Ltd., Verint Systems, Inc., Adobe, Inc., and SAS Institute, Inc.
The expected CAGR of the Content Analytics Market is 18.2% from 2022 to 2028.
The Retail & Consumer Goods segment acquired maximum revenue share in the Global Content Analytics Market by Vertical in 2021 thereby, achieving a market value of $3.7 billion by 2028.
The North America market dominated the Global Content Analytics Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5.9 billion by 2028.
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