Text Mining Market Size Hit USD 16.85 Billion at a CAGR of 18.1% in 2027 | SAS Institute, Inc., SAP SE
An increase in demand predictive analytics for businesses and rising social media analytics are driving the market demand. Market Size – USD 4.75 Billion in 2019, Market Growth - CAGR of 18.1%, Market Trends –Increased adoption by retail sectors. The global Text Mining Market is forecast to reach USD 16.85 Billion by 2027, according to a new report by Reports and Data. Text mining tools are increasingly used by most of the organizations to help their business by useful insights from different sources, such as client interaction, blogs, emails, tweets, product reviews, and center logs. The major objective of the mining of these texts is to gather several forms of information that includes structured and unstructured data and can be utilized further for fueling the decision of the business. Some of the benefits of this mining include improved processing speed, cost reduction, better consistency, and integration of big data. The rise in demand for Big Data and machine learning is