Sentiment Analytics Market

The rising predictive analysis techniques is driving the market growth

The primary drivers of the sentiment analytics market growth are the development of predictive analysis techniques and increased company competition. The vertical segment retail sector is expected to earn the biggest market share throughout the projected period, according to the Sentiment Analytics Market research. As a result, there are more prospects in the marketing industry nowadays due to the rising demand for the goods and services in many different places.

Globally, the prominence of social media platforms and the rising quantity of technology developments are important variables that could boost market demand. Additionally, there are expected to be significant potential for industry growth due to expanding internet usage and rising awareness of sentiment analysis. Furthermore, it is anticipated that the sector will increase in the future years as a result of the soaring demand for sentiment analytics from a variety of industries, including BFSI, healthcare, retail, and others.

The demand for these analytics is projected to be driven by the rising popularity of AI chatbots in a variety of industries, including BFSI, retail, healthcare, and others. Sentiment analytics allow chatbots to comprehend the emotions of their users and respond appropriately. Salesforce reports that more than 69% of its customers prefer to use AI chatbots due to how quickly they can communicate. Additionally, it is projected that the growing demand for real-time information to make strategic decisions and streamline company processes will fuel the expansion of the market. This is due to the increased use of novel technologies.

In addition, it is anticipated that the increased demand for sentiment analytics from a variety of industries, including retail, BFSI, and healthcare, would provide enormous market growth potential to analyse consumer preference, brand reputation, and other factors. Additionally, it is projected that the industry would rise as a result of people using social networking sites like Twitter, Facebook, and Instagram more frequently. Sentiment analytics, for instance, can be used to tell the difference between fraudulent and real product reviews posted on various social media sites.

The industry's growth is also anticipated to be fueled by an increase in recent developments by key market competitors. For instance, Cision, a top media monitoring business, paid USD 450 million to purchase Brandwatch, one of the top online consumer & social media listening platforms, in February 2021. Thus, driving the Sentiment Analytics market revenue.

The expansion of social media platforms plays a pivotal role in shaping the Global Sentiment Analytics Market Industry. As more individuals engage with various social media channels, the volume of user-generated content increases, providing a rich source of data for sentiment analysis. Businesses can tap into this wealth of information to gauge public sentiment towards their brands, products, or services. The ability to analyze social media sentiment allows organizations to respond proactively to consumer feedback and trends. This dynamic environment suggests a continuous growth trajectory for the sentiment analytics market, as companies seek to harness the power of social media insights.

The integration of Artificial Intelligence (AI) and Machine Learning (ML) into sentiment analytics tools is a key driver of the Global Sentiment Analytics Market Industry. These technologies facilitate the automation of sentiment analysis processes, enabling organizations to process large datasets efficiently. By employing AI and ML algorithms, businesses can uncover insights that were previously unattainable, leading to enhanced decision-making capabilities. The projected CAGR of 12.63% from 2025 to 2035 underscores the potential for growth in this sector, as companies increasingly adopt AI-driven solutions to stay competitive in a rapidly evolving market landscape.

The Global Sentiment Analytics Market Industry experiences a surge in demand for data-driven insights as organizations increasingly recognize the value of understanding consumer sentiment. This trend is propelled by the need for businesses to make informed decisions based on real-time feedback from customers. In 2024, the market is projected to reach 4.13 USD Billion, reflecting a growing investment in sentiment analysis tools. Companies across various sectors, including retail and finance, leverage sentiment analytics to enhance customer engagement and improve product offerings. This shift towards data-centric strategies indicates a robust future for the Global Sentiment Analytics Market Industry.

Technological advancements in Natural Language Processing (NLP) significantly contribute to the growth of the Global Sentiment Analytics Market Industry. NLP enables machines to understand and interpret human language, allowing for more accurate sentiment analysis. As algorithms improve, businesses can analyze vast amounts of unstructured data from social media, reviews, and surveys with greater precision. This capability enhances the ability to gauge public opinion and consumer preferences. The increasing sophistication of NLP tools suggests a promising trajectory for the market, with expectations of reaching 15.3 USD Billion by 2035, driven by continuous innovation in this field.

The emphasis on customer experience management (CEM) is a significant factor influencing the Global Sentiment Analytics Market Industry. Organizations are increasingly aware that understanding customer sentiment is crucial for enhancing overall satisfaction and loyalty. By utilizing sentiment analytics, companies can identify pain points and areas for improvement in their services or products. This focus on CEM is reflected in the substantial investments made in sentiment analysis tools, as businesses strive to create personalized experiences for their customers. The ongoing commitment to improving customer interactions is likely to drive sustained growth in the sentiment analytics market.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific Sentiment Analytics market dominated this market in 2022 (43.60%). The biggest sector share can be attributable to social media platforms' rising popularity. The Asia Pacific market is expected to rise as a result of the region's fast expanding digitalization and the existence of numerous SMEs that need sentiment analytics to increase customer retention. Moreover, China’s Sentiment Analytics market held the largest market share and the Indian Sentiment Analytics market was the fastest growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: SENTIMENT ANALYTICS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

The North America Sentiment Analytics Market is expected to register significant growth from 2023 to 2032. It is projected that the market would be driven by North America's quick technological breakthroughs and increasing adoption of technologies like cloud computing, AI, and others. Additionally, it is projected that the presence of major solution/service providers in the area, like IBM Corporation and SAS Institute, as well as the rising desire for enhanced customer experiences, will fuel the market's expansion. To increase the scope of their offerings, many businesses are concentrating on delivering new features. Further, the U.S.

Sentiment Analytics market held the largest market share, and the Canada Sentiment Analytics market was the fastest growing market in the North America region.

Europe Sentiment Analytics market accounted for the healthy market share in 2022. Urbanisation is likely to continue to rise, and customers' preferences for online shopping are predicted to change. Furthermore, there are numerous startups that provide media monitoring solutions, which is expected to create enormous growth prospects for the sentiment analytics market. Further, the German Sentiment Analytics market held the largest market share, and the U.K Sentiment Analytics market was the fastest growing market in the European region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Sentiment Analytics market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Sentiment Analytics industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Sentiment Analytics industry to benefit clients and increase the market sector. In recent years, the Sentiment Analytics industry has offered some of the most significant advantages to medicine. Major players in the Sentiment Analytics market, including Adoreboard, IBM, SAS Institute, Crowdflower, Brandwatch, Twizoo, Angoss Sentiment Corporation, Clarabridge, and Aylien, are attempting to increase market demand by investing in research and development Components.

Tata Consultancy Services Ltd (TCS), a subsidiary of Tata Sons Pvt Ltd, provides IT services. Services in the areas of engineering, industry, business analytics, BPO, consultancy, the cloud, QA, blockchain, enterprise solutions, and IoT are offered. The company serves a wide variety of industries with its business solutions. These industries include banking, finance, communication, media, technology, insurance, life sciences, healthcare, retail, consumer goods distribution, manufacturing, information services, high technology, education, energy and utilities, healthcare, travel and hospitality, and more.

In terms of software, TCS provides solutions such BaNCS, Ignio, TAP, iON, TwinX, Optumera, OmniStore, ADD, HOBS, Quartz, Jile, and TCS MasterCraft. Across Africa, the Middle East, Europe, the Asia-Pacific, Latin America, and North America, the company runs successful operations. TCS is headquartered in Mumbai, Maharashtra, India. In May of 2021, TCS and Microfocus's Vertica, a unified analytics platform, came to an agreement to speed up the modernization of company data warehouses for a wide range of data-driven businesses.

Software development, licencing, and support are all services provided by Microsoft Corp. (Microsoft). The company provides a wide variety of operating systems, server applications, cross-device productivity tools, business solution tools, desktop and server administration tools, video games, and training and certification services. Additionally, it creates, produces, and markets hardware items like PCs, tablets, game consoles, and other sophisticated gadgets. The company offers a wide range of services, such as consultancy, cloud-based solutions, and solution support. Through original equipment manufacturers, distributors, resellers, online marketplaces, Microsoft stores, and other partner channels, Microsoft promotes, distributes, and sells its products.

The company has operations throughout the Middle East, Africa, the Americas, Europe, and Asia-Pacific. Microsoft's main office is in Redmond, Washington, in the United States. Microsoft Corporation announced in July 2020 that its Azure Cognitive Services offering will now include text analytics functionality. The company claims that text analytics for health applications can handle a variety of data kinds and processing activities, including the extraction of more than 100 different types of personally identifiable data (such as protected health information) from unstructured texts.