Sentiment analytics is a process that determines whether the expression of a piece of writing is neutral, positive or negative. Thus, essentially, sentiment analytics software focuses on phrases the meaning of words. The sentiment analytics software informs business intelligence processes about the multiplicity of references and meaning of each slang used regarding the product or services. So the sentiment analytics software induces a speaker’s attitude or opinion. Sentiment analytics software is commonly used to discover how people feel about a particular topic.
The software usually identifies recurring customer issues and reflects the enthusiasm regarding the same on social networking websites and social media platforms. Sentiment analytics software offers the ability to create structured data from unstructured data, when used with the social media. Moreover, sentiment analytics software also helps to develop a data repository which helps the organizations to store historical data for future use.
The adoption of the sentiment analytics software will increase further among the organizations as it helps to interpret data by recognizing connections and patterns.
The predictive analysis techniques used in sentiment analytics software is one of the key factors driving the growth of the sentiment analytics software market as these predictive analysis techniques allow the sentiment analytics software to develop accurate and efficient solutions, reduce cost and improve the overall efficiency of production.
The efficiency of sentiment analytics software is high as it can determine the trends and patterns across unstructured content, which is another factor fueling the growth of the sentiment analytics software market. Increase in adoption of sentiment analysis in different industries is also one of the factors driving the growth of the sentiment analytics software market. Moreover, the sentiment analytics software helps to analyze the large amount of data by providing better insights for improved data-driven decision-making, which is also a factor anticipated to boost the growth of the market.
However, sentiment analytics software is not compatible with all systems and thus, challenges come during system integration. There are interoperability issues as well. Hence, these are some of the key factors restraining the growth of the sentiment analytics software market. Moreover, automated sentiment is not 100 percent accurate, which is another factor restraining the growth of the sentiment analytics software market.
Key Developments
In October 2017, Brandwatch, the enterprise social intelligence company acquired BuzzSumo, the content marketing and influencer identification platform. BuzzSumo provides data-driven content discovery and performance analytics to nearly 3,400 customers and over 300,000 users worldwide.
The key vendors in the sentiment analytics software market are IBM, Angoss Software Corporation, Brandwatch, Clarabridge, OdinText, SAS Institute, Bitext, Lexalytics, Meltwater, General Sentiment, NetOwl, OpenText, Social Smart Software, QuestionPro Survey Software and Trackur.
Geographically, the Sentiment Analytics software market can be segmented into North America, Western Europe, Latin America, Eastern Europe, Asia Pacific excluding Japan (APEJ), Middle East and Africa (MEA) and Japan.
Developed regions, such as Europe and North America, are equally attractive for the sentiment analytics software market owing to the technologically advanced industrial infrastructure, the large number of social media followers and rapid growth of digital platforms, such as social media marketing and e-Commerce.
The Asia?Pacific region is expected to grow at highest CAGR as the enterprises in this region are investing in semantic analytics software to improve business productivity and efficiency.
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The global sentiment analytics software market can be segmented on the basis of components, deployment, organization size, industry and region.
Sentiment Analytics Software Market, by components
Sentiment Analytics Software Market, by deployment
Sentiment Analytics Software Market, by organization size
Sentiment Analytics Software Market, by industry
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