Text Analytics Market Growing at a CAGR of 17.2% During 2017 to 2022 - ReportsnReports

The global text analytics market size is estimated to grow from $3.97 billion in 2017 to $8.79 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 17.2%. The customer experience management (CEM) is expected to hold the largest market share during the forecast period. Among the various applications in the text analytics market, the CEM application is expected to hold the largest market share during the forecast period. Text mining is the most traditional application in customer service and is frequently utilized to improve customer experience through various information sources. Today, text analytics is implemented to offer quick, computerized feedback to the clients, which significantly reduces dependency on executives for resolving issues.