The global sentiment analytics market size is expected to reach USD 9.80 billion by 2030 according to a new study by Polaris Marker Research. The report “Sentiment Analytics Market Share, Size, Trends, Industry Analysis Report, By Components, By Organization Size (Small & Medium Enterprises, Large Enterprises), By Deployment (Cloud, On-Premise), By Vertical, By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The increasing number of technological advancements and the growing popularity of social media platforms globally are significant factors that may stimulate the industry demand across the globe. In addition, the increasing awareness regarding sentiment analysis and the rising internet penetration across emerging nations is also anticipated to present huge industry growth opportunities. Furthermore, the surging demand for sentiment analytics from various verticals such as BFSI, Healthcare, Retail, and others is further projected to fuel the industry growth in the upcoming years.
Based on the deployment type, the cloud segment dominates the global industry and is anticipated to lead the market over the forecasting period. Factors such as features offered by cloud deployments such as no capital investment, high scalability, flexibility, and reduced requirements on IT expertise are attributed to the segment growth.
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The latest innovations leading to advanced solutions are likely to present various growth opportunities. Moreover, the deployment of AI Chatbots by companies across multiple industries such as retails and others to offer a better customer experience is anticipated to drive the market’s growth. The use of these technologies in Chatbots enables them to understand customers’ emotions and extend the conversation accordingly.
Market participants such as Affectiva, Adoreboard, Aylien, Beyond Verbal, Bottlenose.com, Clarabridge, Brandwatch, Cogito Corp., Crowdflower, Eyeris, IBM Corporation, Kairos AR, Inc., LIGHTSPEED LLC, Lexalytics Inc., MeaningCloud LLC, Microsoft, NVISO SA, Noldus Information Technology bv, Repustate Inc., SAS Institute, Sensum Co., Tobii AB, Sentiance, and Twizoo, are some of the key players operating in the global market.
Major companies are initiating collaborative initiatives in order to increase their market share. Additionally, companies are witnessing the growing sale of their solution due to offerings such as analytics and others. For instance, in February 2021, Clarabridge Inc., one of the leading providers of CEM (Customer Experience Management) solutions, increased its annual sales by 300%, and the entire sales are primarily driven by speech analytics.
Polaris Market research has segmented the Sentiment Analytics market report on the basis of component, organization size, deployment, vertical, and region:
Sentiment Analytics, Component Outlook (Revenue – USD Billion, 2018 – 2030)
- Professional Services
- Sentiment Support
- Maintenance Services
Sentiment Analytics, Organization Size Outlook (Revenue – USD Billion, 2018 – 2030)
- Small & Medium Enterprises (SMEs)
- Large Enterprises
Sentiment Analytics, Deployment Outlook (Revenue – USD Billion, 2018 – 2030)
Sentiment Analytics, Vertical Outlook (Revenue – USD Billion, 2018 – 2030)
- Transportation & Logistics
- Media & Entertainment
- Healthcare & Life sciences
Sentiment Analytics, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa