Text Analytics Adoption Grows by Leaps and Bounds

The text-analytics market advanced by leaps and bounds in 2010 to an estimated global value of $835 million. Growth was driven by the technology's central role in social-media analysis and by text analytics' contribution to advanced, semantic search and search-based applications.

I have created annual text-analytics market-size estimates for several years, in advance of each spring's Text Analytics Summit. My 2010 estimate has two major components. It projects a 2009 figure of $425 million forward by 26% to $535 million, covering the core text-analytics market plus a valuation of text analytics’ contribution to information acquisition and management and enterprise applications. The 2010 text-analytics market growth rate was nearly double the 2010 13.4% growth rate seen by Gartner for the larger business intelligence (BI), analytics, and performance management software market.  

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