Market is expected to reach USD 6.17 billion by 2020. Increased adoption, heavy data volume and social media data are the key drivers
Global search and content analytics market is expected to reach USD 6.17 billion by 2020, according to Technavio. The market is predicted to grow at 22% CAGR.
The search and content analytics market will have significant growth during the forecast period (2016-20) because enterprises have realized the importance of deriving useful information from unstructured data. The process of comprehending unstructured data and gaining valuable insights is a multifaceted challenge. The exponential growth in volume of big data is a challenge for the market, which needs to be addressed effectively.
Three factors that are contributing to the growth of the global search and content analytics market, as per the research, are:
- Increase in adoption of search and content analytics in industries
- Increasing volume of data
- Use of social media data for content analysis