The global sentiment analysis software market to grow at a CAGR of 16.20% during the period 2017-2021.
The report, Global Sentiment Analysis Software Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in market is rising adoption of big data analytics. Vendors in the market are providing sentiment analysis software consisting of real-time data mining and analytics features. Big data analytics solutions help users to generate key performance indicators that can help in decision-making processes. Most of the vendors in the market are partnering with firms that are specialized in analytical tools designed for data analysis of online surveys.
According to the report, one driver in market is increased need for digital transformation. Digital transformation in organizations is one of the key enablers for the increasing adoption of sentiment analysis software. Digital transformation among targeted consumers, such as SMB, creates opportunities for IT companies to market their products and services. Sentiment analysis is gaining popularity to analyze the market potential of IT solutions and services used for digital transformations.
The sentiment analysis software for enterprises is widely being deployed to survey and obtain opinions from customers, industry experts, IT executives, and other stakeholders engaged in the implementation of digital transformation in enterprises. Digital transformation is observed across different end-users such as retail, BFSI, healthcare, education, and telecom. These end-users have benefited both in terms of branding as well as profits. This has encouraged the other sectors to incorporate digital transformation in their process, which is expected to boost the sentiment analysis software market.