Sentiment Analysis Software Market 2022
Sentiments analysis is also known as emotional artificial intelligence and opinion mining. Sentiment analysis software is used for processing of natural language, computational linguistics, biometrics, and text analysis to quantify, identify, and extract systematically.
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The sentiment analysis software is widely used to analyse the voice of the customer materials which includes survey and reviews responses collected from online and social media, and healthcare materials for applications that range from marketing to customer service to clinical medicine.
The drastic increase in the web applications and the social media has led to increasing the rate of adoption among the users for surveying the data generated through digital media for the maintenance of brand and image of the brand.
The need for analysing the data present at the global level on the internet is present in the form of comments, share, followed, retweeted, etc. to analyse the brand, person, etc. is responsible for the increase in the deployment of the sentiment analysis software throughout the world.
The sentiment analysis software is continuously updated by developers with new features like customized query options, alert creations, recommendations, and interactive data visualization which is responsible for the increased popularity among the user’s group.
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Sentiment Analysis Software Market: Drivers and Restraints
The major factor that the sentiment analysis software can provide a rich source of contextual information out of the complex and massive amount of data present on the internet about a particular entity is expected to drive the growth of the sentiment analysis software market globally.
The sentiment analysis software can also provide campaign monitoring and influencer identifier facility to the users. Also, the sentiment analysis software can provide competition insights of the market to the software users which helps them in decision making is going to contribute in increasing the demand in the forecast period. On the other hand, an ability of the machines to understand human languages and emotions is the major challenge for implementing the sentiment analysis software in the analysis process.
Sentiment Analysis Software Market: Segmentation
Global sentiment analysis software market can be divided into segments, based on deployment type, industry, regions. On the basis of deployment type in the sentiment analysis software market is divided into on-premise and cloud. On the basis of industry, into manufacturing, BFSI, retail, healthcare, media & telecommunication, government.
On the basis of regions, the market is segmented into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa.
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Sentiment Analysis software Market: Regional Outlook
The global market for sentiment analysis software is divided regionally into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa. Among these regions North America dominates the market owing to the higher presence of sentiment analysis software suppliers followed by Western Europe.
The APEJ and Japan are predicted to grow at highest CAGR in forecast period due to rapid digitalisation and rising brand awareness and image in developing countries. On the other hand, MEA region is expected to show stagnant growth in the sentiment analysis software market.
Sentiment Analysis software Market: Competition Landscape
The key players involved in sentiment analysis software market are companies such as
ANGOSS SOFTWARE CORPORATION
SRA, International, Inc.
Clarabridge
IBM
Brandwatch
SAS Institute Inc.
Opentext Corp.
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