Content Analytics Market Size, Share & Industry Analysis, By Application (Text Analytics, Speech Analytics, Social Media Analytics), By Deployment (Cloud, On-Premises), By Vertical (BFSI, IT and Telecom, Retail & Consumer Goods, Healthcare) And Regional Forecast, 2024-2032

Content analytics refers to set of solutions that process digital content and user behaviour in engaging with digital content such as news sites, documents, customer conversations, among others. The amount of data generated by various individuals is growing with the continued spread of digitization. People can generate more content suggesting their interests, habits, and preferences as they spend more time interacting with digital technology. Companies are using data across the enterprise and digital channels to gain actionable insights due to the exponential growth in data volume, sources, and formats.

Due to the increasing use of social media platforms in advertising and customer outreach, social media analytics is expected to play a key role in the growth of the content analytics market over the forecast period. Furthermore, given the disruptive evolution of the Internet of Things (IoT) and big data technologies, content analytics will continue to experience significant growth and will remain one of the primary factors driving the overall growth of the analytics market. Adoption of video analytics solution among companies will be a key trend in the global content analytics market.

Businesses are using video analytics solutions to automate video analytics and for archived videos and live streams using deep learning models. Key players operating in the market are aiming to launch efficient solutions and collaborate with other significant players to strengthen market position. For instance, in March 2021, Hailo Technologies Ltd., an Ai chip manufacturer based in Israel collaborated with Socionext, Leaopard imaging, and Amazon Web Services inc. to launch next-generation AI processing technology for video analytics.

One of the main opportunities for the content analytics market is the growing demand for real-time data analytics from various organizations. Real-time content analysis solutions are in high demand in the market due to benefits such as quick and precise results as well as cost-effectiveness. Furthermore, fierce competition among market players has boosted demand for content analytics. However, difficulties in integrating content analytics solution into existing business infrastructure will be a key challenging factor for end user and enterprises.

Key Market Driver -

• Growing use of competitive intelligence tools and advanced analytic solutions among enterprises will drive growth • Constantly rising practice of predictive analytics using high volume data will boost market growth

Key Market Restraint -

• Difficulty in integrating content analytics solutions into existing infrastructure model is limiting the adoption of content analytics platforms among enterprises

Key Players Covered:

To increase their market penetration, the leading market players have used a variety of business growth strategies, including new product launches, product portfolio expansion, agreements, and others. Various prominent market participants are investing heavily in research and development activities, with the goal of improving the content analytics solution range. The global market is fragmented, with both start-up and established companies competing on global level and attaining different business expansion strategies. The market perceives intense competition among market players based on the solution/service offering, pricing, and features.

Content analytic solution providers are opeting for collaboration as a business expansion strategy. For instance, in October 2019, SAP SE collaborated with Verizon to launch next-generation IoT analytic solution with integrated SAP software and services. The key players operating in the global content analytics market are Oracle Corporation, Google LLC, OpenText Coporation, IBM Corporation, SAP SE, SAS Institute Inc., TIBCO Software Inc., Nice Systems Ltd., Clarabridge, Inc., Verint Systems, Interactive Intelligence, ABBYY, among others.  

Regional Analysis:

In comparison to other regions, North America has the highest adoption of data management technologies across various end-user industries, which is a major factor driving the adoption of various analytical solutions including content analytics solutions. As a number of large companies are based in the region, including Oracle, SAP SE, IBM Corporation, and Google. Moreover, the growing e-commerce growth in the region coupled with penetration of social networking sites is expected to contribute to the growth of the market.

Europe is expected to witness high growth during the forecast period. The growth of the region would occur on the account of rising technological developments and growth of retail sector in key economies such as Italy, Germany, and UK.

The most important revenue contributor to the global content analytics market is Asia Pacific. The content analytics market in the region is undergoing major technological changes. The high growth rate in the region can be attributed to the growing use of advanced technologies such as Big Data, IoT, and others, the growing amount of data across several industry verticals, and rising company investments in real-time analytics technology.

The Middle East & Africa and South America region are expected to witness significant growth in the global content analytics market.  

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Segmentation

Key Industry Developments:

• April 2018 – ABBYY, a global content intelligence solution provider launched ABBYY Text Analytics for Contracts, a service that speed-read documents and discover actionable insights from documents leading to accelerated, and contextually informed decision making.


• July 2020 - LivePerson Inc., a digital intelligence solution provider launched LP Insights that convert consumer voice data into actionable content. Customers' words, behaviour, reasons for contact, purchasing patterns, and emotions are all monitored, measured, and analysed with LP Insights. It can then provide ready-to-use intelligence to any computer and analyse chat transcript data.