Social Media Lead as Content Analytics Market Nears $4.37Bn

The content analytics market is estimated to grow from USD 1.61 Billion in 2016 to USD 4.37 Billion by 2021, at a CAGR of 22.1% from 2016 to 2021, as social media take the lead.

According to a new market research report "Content Analytics Market by Application (Speech Analytics, Text Analytics, Web Analytics, Social Media Analytics, Others), Deployment Type (On-Premises and Cloud/Hosted), Vertical, and Region (NA, Europe, APAC, MEA, LA) - Global Forecast to 2021", published by MarketsandMarkets, the major forces driving the content analytics market are increasing usage of advanced analytics and competitive intelligence, risk & compliance management, and convergence of text analytics with big data.

Content analytics aims at providing insights from the unstructured data, and is becoming an important part in the current predictive analytics landscape.

Some of the Prominent Key Players in the Content Analytics Market are: International Business Machine Corporation (U.S.); Oracle Corporation (U.S.); Adobe Systems, INC. (U.S.); Clarabridge, INC. (U.S.); Interactive Intelligence Group, INC. (U.S.); Opentext Corporation (Canada); Verint Systems (U.S.); Nice Systems LTD. (Israel); SAP SE (Germany); SAS Institute, INC. (U.S.)

On the basis of deployment type, the market has been segmented into cloud/hosted and on-premises. Cloud-based solutions are budget friendly and easy to deploy, and hence SMEs opt for it.

Through these solutions, small enterprises are able to collect and analyze data easily, thus improving customer services. Due to the advantages of cloud deployment, significant customers would be switching from on-premises deployment models to SaaS-based solutions.

The social analytics segment is estimated to grow at the highest rate during the forecast period

The content analytics market, by application, has been segmented into speech analytics, text analytics, web analytics, social media analytics, and others.

The social media analytics segment is expected to grow at the highest CAGR over the forecast period. The social media landscape is vast.

It includes Facebook, Twitter, LinkedIn, Pinterest, Instagram, Snapchat, and YouTube, among others, each having some distinct features.

There have been a lot of significant transformations in the functioning of businesses with the expansive penetration of IT infrastructure among organizations.

The extensive IT environment in an organization has not only enhanced flexibility in business functionality but has also added to the productivity.

This has resulted in an increased amount of social data, thus encouraging the widespread adoption of analytics solutions among companies.

North America is expected to lead the content analytics market during the forecast period

The content analytics market segmented on the basis of region, include North America, Asia-Pacific (APAC), Europe, the Middle East & Africa (MEA), and Latin America.

North America is expected to hold the largest share of the content analytics market in 2016, due to the increasing analysis of content in the form of text, images, and videos in retail & consumer goods, BFSI, IT & telecom, and healthcare verticals.

However, the market in APAC is expected to grow at the highest CAGR between 2016 and 2021.

The primary driving force for this growth is rapid digitalization in countries such as Japan, China, Korea, India, Indonesia, The Philippines, and Vietnam.

This has increased the demand for many organizations to integrate content analytics to gain customer insights.