Sentiment Analytics Systems Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, June 24, 2024 /EINPresswire.com/ — The sentiment analytics systems market has experienced robust growth in recent years, expanding from $2.48 billion in 2023 to $3.26 billion in 2024 at a compound annual growth rate (CAGR) of 31.4%. The growth in the historic period can be attributed to high utilization in healthcare for patient feedback analysis, adoption in government agencies for citizen sentiment monitoring, the development of sentiment analysis platforms for enterprise solutions, the rise in sentiment analysis applications for sentiment-aware advertising, and adoption in government agencies for citizen sentiment monitoring.
Strong Future Growth AnticipatedThe sentiment analytics systems market is projected to continue its strong growth, reaching to $9.73 billion in 2028 at a compound annual growth rate (CAGR) of 31.5%. The growth in the forecast period can be attributed to increasing demand for real-time sentiment analysis, growing adoption in social media monitoring, advancements in natural language processing (NLP), usage in political campaigns for voter sentiment tracking.
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Growth driver of the sentiment analytics systems marketThe growing adoption of social media monitoring is expected to propel the growth of sentiment analytics systems markets going forward. Social media monitoring refers to tracking, analyzing, and responding to conversations and mentions about a brand, product, or topic across various social media platforms. The adoption of social media monitoring is growing due to its ability to provide real-time insights into consumer behavior, market trends, and brand sentiment, enabling companies to make data-driven decisions and enhance their online presence. The sentiment analytics systems allow businesses to effectively analyze and leverage public sentiment, improving their social media monitoring strategies.
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Major Players and Market TrendsKey players in the sentiment analytics systems market include Amazon Web Services Inc., Google LLC, Microsoft Corporation, International Business Machines Corporation, Oracle Corporation.
Major companies operating in the sentiment analytics systems market focus on technological integrations such as AI-powered sentiment analysis, to improve enterprise user experience and optimization. An AI-powered sentiment analysis tool is a software application or service that utilizes artificial intelligence techniques, particularly natural language processing (NLP), to analyze text data and determine the sentiment or emotional tone conveyed within the text.
Sentiment Analytics Systems Market Segments:1) By Type: Cloud-Based, On-Premise2) By Deployment Model: Private, Public, Hybrid3) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprises4) By Application: Banking, Financial Services, And Insurance (BFSI), Healthcare And Life Sciences, Education, Media And Entertainment, Retail, Government, Transportation And Logistics, Other Applications
Geographical Insights: North America Leading the MarketNorth America was the largest region in the sentiment analytics systems market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of sentiment analytics systems.
Sentiment Analytics Systems Market DefinitionSentiment analytics systems refers to the technological solutions designed to analyze and interpret sentiments expressed in text data. These systems employ advanced algorithms, natural language processing (NLP), and machine learning techniques to extract insights from sources such as social media, customer feedback, and online reviews.
Sentiment Analytics Systems Global Market Report 2024 from TBRC covers the following information:• Market size data for the forecast period: Historical and Future• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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June 24, 2024, 11:25 GMT
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