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Text Analytics Market size is set to grow by USD 18.08 billion from 2024-2028, popularity of soa among end-users to boost the market growth, Technavio

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NEW YORK, June 18, 2024 /PRNewswire/ — The global text analytics market  size is estimated to grow by USD 18.08 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 22.58%  during the forecast period.  popularity of soa among end-users is driving market growth, with a trend towards emergence of advanced text analytical tools  However, system integration and interoperability issues  poses a challenge.Key market players include Alphabet Inc., Averbis GmbH, Bitext Innovations SL, Forsta AS, Infegy, InMoment Inc., International Business Machines Corp., KNIME AG, Luminoso Technologies Inc., MeaningCloud LLC, Megaputer Intelligence Inc., Microsoft Corp., NICE Ltd., OpenText Corp., Oracle Corp., Qualtrics LLC, SAP SE, SAS Institute Inc., and TIBCO Software Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Deployment (Cloud and On-premises), Component (Software and Services), and Geography (Europe, North America, APAC, Middle East and Africa, and South America)

Region Covered

Europe, North America, APAC, Middle East and Africa, and South America

Key companies profiled

Alphabet Inc., Averbis GmbH, Bitext Innovations SL, Forsta AS, Infegy, InMoment Inc., International Business Machines Corp., KNIME AG, Luminoso Technologies Inc., MeaningCloud LLC, Megaputer Intelligence Inc., Microsoft Corp., NICE Ltd., OpenText Corp., Oracle Corp., Qualtrics LLC, SAP SE, SAS Institute Inc., and TIBCO Software Inc.

Key Market Trends Fueling Growth

Text analytics is a valuable tool for businesses seeking to make data-driven decisions. Advanced text analytics, in particular, enables companies to gain insights into consumer behaviors and optimize marketing strategies. Predictive analytics, a type of text analytics, uses advanced mathematics and statistical tools to forecast future scenarios. This technology is increasingly adopted by organizations to manage projects, plan business strategies, and mitigate errors in manual calculations. The global text analytics market is expected to grow due to the availability of large data volumes from technologies like robotic process automation and the IoT. 

The Text Analytics market is experiencing significant growth due to the increasing demand for gaining insights from unstructured data. Key technologies like Natural Language Processing (NLP), Machine Learning (ML), and Artificial Intelligence (AI) are driving trends in this sector. Companies are utilizing text analytics to improve customer service, enhance marketing strategies, and optimize business operations. Sentiment analysis, topic modeling, and entity extraction are popular applications. Cloud-based solutions and customizable platforms are also gaining traction. The future of text analytics lies in real-time analysis, multilingual support, and integration with other data sources. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The text analytics market is experiencing growth in sectors like telecommunication, BFSI, retail, and media and entertainment. However, organizations encounter challenges integrating text analytics solutions with their existing IT infrastructure. Vendors must offer unified IT solutions to prevent technical glitches and additional costs. System integration and interoperability issues arise during IT updates or mergers, which can discourage adoption. Customized solutions are often cost-prohibitive, limiting market growth. Organizations must ensure text analytics solutions are compatible with their systems before implementation.The Text Analytics market faces several challenges in effectively extracting valuable insights from large volumes of data. One challenge is the complexity of unstructured data, such as social media postsings and customer reviews. Another challenge is the need for real-time analysis to keep up with the fast-paced business environment. Additionally, ensuring data security and privacy is a major concern. Furthermore, the lack of standardization in data formats and the need for interoperability between different systems can hinder the adoption of Text Analytics. Lastly, the high cost of implementing and maintaining Text Analytics solutions can be a barrier for small and medium-sized businesses.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This text analytics market report extensively covers market segmentation by

Deployment 1.1 Cloud1.2 On-premisesComponent 2.1 Software2.2 ServicesGeography 3.1 Europe3.2 North America3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Cloud-  The Text Analytics market is experiencing significant growth due to the increasing adoption of cloud-based solutions among businesses. Cloud-based text analytics software and services, offered by vendors like Microsoft, SAP, SAS Institute, IBM, Lexalytics, and Open Text, provide cost savings, ease of deployment, and faster ROI for Small and Medium Enterprises (SMEs). Solutions like Lexalytics’ Semantria API offer remote access, data backup, and customized Natural Language Processing (NLP) services. Integrations with cloud platforms, such as Amazon Web Services (AWS), further streamline analytical tasks and improve business outcomes.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The Text Analytics Market encompasses cloud-based applications that leverage predictive analytics for fraud and risk management in various sectors. Business intelligence tools employ machine learning algorithms to identify patterns in structured and unstructured data from multiple sources, including social media and unstructured text data. These insights enable informed business decisions and aid in cybercrime prevention. The market caters to numerous industries, such as banking, insurance, finance, and legal services, by providing software and services components for compliance monitoring and customer sentiment analysis. Fraud detection cases are effectively managed through advanced text analytics solutions, ensuring robust security and regulatory adherence.

Market Research Overview

The Text Analytics Market encompasses the usage and analysis of natural language data to derive valuable insights. This field leverages various techniques such as sentiment analysis, text mining, and speech recognition. The market is witnessing significant growth due to the increasing volume of digital data and the need for effective data management. Businesses across industries are adopting text analytics to gain a deeper understanding of customer behavior, improve operational efficiency, and enhance decision-making processes. The technology finds applications in sectors like healthcare, finance, and customer service. The future of text analytics lies in the integration of advanced technologies like artificial intelligence and machine learning to provide more accurate and actionable insights.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentCloudOn-premisesComponentSoftwareServicesGeographyEuropeNorth AmericaAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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TiTE x IHT 2026: The Definitive Hub for Taiwan’s Hardware Manufacturing Excellence

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TAICHUNG, May 6, 2026 /PRNewswire/ — When sourcing from Taiwan, location is the ultimate strategic advantage. Don’t be misled by smaller, general trade shows held in city centers like Taipei. To truly connect with the source, you must go where the products are born. TiTE x IHT (Oct 20-22, 2026) in Taichung is the undisputed largest and most vital hardware industrial expo on the island. Hosted directly in the heart of Taiwan’s precision manufacturing cluster, this event features 1,000+ booths and 500+ top-tier manufacturers, offering a scale and industrial depth that no other exhibition can replicate.

Why Global Buyers Choose the Taichung Source Over Urban Trade Shows:

The Revolutionary “Exhibition as Factory” Model: Taichung is the global epicenter for hardware, home to 70% of Taiwan’s industry output. Our unique location enables the “30-Minute Sourcing Circle.” This allows you to verify high-end samples on the show floor in the morning and audit world-class production lines by the afternoon. By eliminating the travel gap between the booth and the factory, we reduce traditional procurement cycles from weeks to hours, providing unmatched transparency for R&D, capacity assessment, and quality control.ESG & CBAM Compliance for Western Markets: As the EU’s Carbon Border Adjustment Mechanism (CBAM) and global ESG mandates reshape trade, our exhibitors are already ahead of the curve. Discover CBAM-ready solutions and green manufacturing processes specifically designed to meet the strict sustainability requirements of the European and American markets. We provide more than just tools; we provide carbon-footprint-managed resilience for your brand.AI-Driven Smart Manufacturing: Address global labor shortages and rising costs with Taiwan’s latest innovations. The 2026 expo focuses on “AI Empowerment,” showcasing collaborative robotics, automated digital inspection, and data-driven supply chain management. These technologies ensure lead-time stability and high-precision consistency for premium global brand owners.Direct Sourcing & Global Matchmaking: Skip the middlemen and trading agencies. Our “Global Buyer Day” offers exclusive, pre-arranged matchmaking with the actual OEMs/ODMs. This is the primary decision-making platform for major distributors seeking resilient, direct-to-factory partnerships that guarantee the best pricing and priority production slots.

Experience the synergy of smart manufacturing and global trade. Stop at the source—where the world’s hardware is actually built. Secure your competitive edge in the true heart of the industry.

【TiTE x IHT】

Date: October 20-22, 2026Venue: TICEC, Taichung, TaiwanRegister Now: https://accu.ps/g8MZ1SHousing Subsidy: https://forms.gle/34VHVxSrEw7g8GxDAOfficial Website: https://www.hardwareexpotw.com

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SOURCE TiTE x IHT

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KIST Accelerates U.S. Expansion of Quantum Deep-Tech Startups Through SelectUSA 2026

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SEOUL, South Korea, May 5, 2026 /PRNewswire/ — The Korea Institute of Science and Technology (KIST) President Oh Sang-rok announced that it will participate in the SelectUSA Investment Summit 2026 as part of a Korean delegation, together with quantum technology startups supported by the Ministry of SMEs and Startups under the Deeptech Project (DIPS).

The initiative, supported by South Korea’s Ministry of SMEs and Startups (MSS), is part of the government’s “Deeptech Incubator Project for Startups” (DIPS) initiative, which aims to nurture globally competitive deep-tech ventures.

KIST, which serves as the lead institution for the quantum technology sector under the program, said it will oversee the global commercialization efforts of participating firms. In particular, the “Global Bridge Program,” jointly developed with the U.S. Embassy in Korea in September 2025, is an official program designed to generate tangible overseas expansion outcomes by linking investment attraction with local market entry through diplomatic channels.

Organized by the U.S. Department of Commerce, the SelectUSA Investment Summit is the largest investment promotion event in the US, connecting international startups with venture capital firms, corporate investors and state-level economic development agencies.

It serves as an execution-oriented platform that extends to investment, corporate establishment, site selection, and tax incentives, and is considered a key entry gateway for deep-tech companies, including those in quantum technology.

KIST said participation in the summit is particularly significant for deep-tech sectors such as quantum technology, where access to the US innovation ecosystem is seen as key to growth.

The program is conducted in two stages. From April 30 to May 1, companies took part in a spin-off program hosted by the State of Maryland, which included visits to research institutions and tours of the regional quantum technology ecosystem.

During this period, the delegation also conducted localized activities with the Maryland state government and its economic development agencies, focusing on investment attraction, corporate collaboration, and joint R&D. In addition, on May 5, the delegation held discussions with U.S. Department of Commerce Deputy Secretary William Kimmitt on potential areas of cooperation.

The delegation will also meet officials from Fairfax County Government to explore collaboration and investment opportunities.

The main summit, currently ongoing from May 3 to May 6, features exhibitions, pitching sessions and meetings with US state representatives, with participating firms expected to engage in discussions on investment and market entry.

The delegation is structured to encompass the entire quantum industry rather than a single technology domain.

The Korean delegation comprises five startups, alongside Kyung Hee University Department of Future Science & Technology Commercialization Policy and Entrepreneurship, with approximately 20 participants forming an integrated ecosystem that combines research institutes, academia, and startups, enabling a full-cycle support system from technology validation to commercialization and global expansion.

One of the firms, OptiQ-Labs, was selected for an official pitching session on May 4, where it presented its laser-based optical modules designed for ion-trap quantum computing systems.

This highly competitive program selects only around 100 companies from more than 20,000 applicants worldwide. If selected as the winner of the pitching session, the company will receive follow-up meetings with U.S. state governments and economic development agencies, access to global investor networks, support for local entity establishment, and connections to site selection and tax incentive programs.

Other participating companies include QUAD, which develops single-photon detection technology; SLEEX, focused on underwater sensing; Elixir (StatUp AI), which works on quantum-classical hybrid algorithms for healthcare; and SQK (QMEDIC), specializing in physics-based imaging solutions.

KIST Project Director, Kang Sunjoon, said, “This program represents a critical milestone for Korean quantum startups to directly connect with global investors and industry ecosystems. Via the DIPS program, we are actively promoting the global commercialization of quantum technologies.”

Through its participation in SelectUSA, KIST has established a package-type global expansion model that integrates technology validation, investment attraction, and U.S. market entry.

The summit serves as a turning point for South Korea’s quantum sector, enabling startups to move into the next phase of validation, investment, and overseas expansion.

For more information, visit https://eng.kist.re.kr/.

About KIST 

KIST was established in 1966 as the first government-funded research institute in South Korea. KIST now strives to solve national and social challenges and secure growth engines through leading and innovative research.

About Participating Quantum Startups

QUAD, led by Chief Executive Officer, Oh Byung-doo, develops quantum sensing technologies based on superconducting nanowire single-photon detectors (SNSPDs), offering high sensitivity and precision with applications spanning quantum communication, quantum computing, semiconductor inspection, and defense.

SLEEX is developing an advanced perception technology that combines quantum LiDAR and electric field sensing to overcome limitations of existing underwater sensors, particularly by eliminating blind zones within the 0–2 meter range, with strong potential in autonomous navigation, maritime security, and defense, with Lee Jeho at the helm as Chief Executive Officer.  (https://www.thesleex.com)

Elixir, headed by Chief Executive Officer Jang Jung-kwon, develops a drug discovery and biomarker analysis platform based on quantum-classical hybrid algorithms, targeting the precision medicine market through the integration of bioinformatics and quantum machine learning. (statupai.com)

SQK develops medical imaging AI based on quantum-physics constraints, addressing the hallucination issues of conventional AI by ensuring physical consistency in CT and MRI reconstruction. Under the leadership of Chief Executive Officer Kim Yoon-hak, SQK is improving reliability and reducing the need for re-scans in clinical settings. (www.sqkcloud.com)

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SOURCE The Korea Institute of Science and Technology (KIST)

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Former Visa Asia Pacific Executive David Tay Joins YeahPay as Global Vice President

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SINGAPORE, May 6, 2026 /PRNewswire/ — YeahPay, the international payment brand under YEAHKA (9923.HK), has appointed David Tay, a former senior executive at Visa Asia Pacific, as Global Vice President, tasking him with overseeing the strategic direction and product ecosystem development of YEAHKA’s overseas payment business. The appointment comes as global digital trade enters a new phase defined by ecosystem integration, with payment infrastructure undergoing a generational shift in acceleration.

David Tay, a Singaporean national, is a rising leader in the payments industry. During his career at Visa, David played a key role in driving business growth across multiple Southeast Asian markets, demonstrating early promise in commercial insight and innovation. He subsequently moved into Visa’s Innovation division, where he rose to serve as Head of Innovation, leading Visa Pacific’s product innovation and new business.

In that capacity, David led the commercialization of cutting-edge payment paradigms including Visa Flex Credential and Pay by Palm. He was also involved in the evaluation and governance of strategic partners across the region, accumulating deep expertise in collaborating with banks, fintechs, and large-scale enterprise merchants.

David’s track record spans the full go-to-market lifecycle, from concept to pilot to scale, as well as deep capabilities in cross-institutional partnerships and ecosystem development. His appointment comes at an inflection point for YEAHKA’s international expansion. According to YEAHKA’s 2025 annual report, its overseas business delivered full-year Gross Payment Volume (GPV) surpassing RMB 5 billion, representing a 323.3% year-on-year surge from RMB 1.1 billion in 2024.

View original content:https://www.prnewswire.com/apac/news-releases/former-visa-asia-pacific-executive-david-tay-joins-yeahpay-as-global-vice-president-302763652.html

SOURCE Yeahka

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