The text analytics industry is experiencing explosive growth, fueled by the ever-increasing volume of textual data generated and the growing need to extract valuable insights. This report digs into the current market size and analyzes historical data and industry trends. Keep reading to get all the details for the text analytics industry in 2024.
Current market size
According to research and industry reports by Mordor Intelligence, the global outlook of the text analytics market is valued at USD 10.49 billion in 2024 and is expected to reach USD 56.24 billion by 2029, growing at a staggering CAGR of 39.90%. Similarly, Market Research Future estimates the market to reach USD 11.91 billion by 2032, reflecting a consistent upward trajectory.
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