2010 Market Growth for Text Analytics

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Jeff recently shared his thoughts on Text Analytics Market Growth with Seth Grimes for his report on B-Eye Network: Text Analytics Opportunities and Challenges for 2010 (free registration required). It's a well written report, outlining the thoughts and expectations for 2010 from industry leaders and innovators in the Text Analytics industry. Here is Jeff's excerpt, providing some insight on how Text Analytics and Sentiment will play out in 2010: Market Growth Lexalytics CEO Jeff Catlin affirms other respondents' themes. He sees search as a particular growth area and makes other points regarding text-analytics market growth:

Text analytics [TA] will become a mainstream feature set in enterprise search applications (though not by name). We've seen a steady march toward this in 2009, and it's most notable in how accepted TA features are by the general public. When I'm at a party now and tell someone what we do, they say "Oh yeah, I read something about that sort of stuff last month" as opposed to the "Huh???" that I used to get. The effect of this is that there are a lot more opportunities for TA in enterprise applications, and I suspect it will mean that one or two of the players may get picked up by a big company.

Sentiment will complete its transition to a "checklist" feature that everyone who works in this space will have to provide. All of the vendors (big and small) will claim to have sentiment. The consumers of this technology will also get a bit more educated - we're seeing this in RFP requests for particular capabilities of sentiment - which will help separate the wheat from the chaff. Unfortunately for us, sentiment won't be a totally differentiating feature that you can hang a business on anymore, as there will be lots of competition on the sentiment front.

The [differentiation between] larger TA players and the niche players will become even more obvious. The bigger players will integrate a number of useful and useable semantic features into their engines which will help with things like ad hoc classification, concept roll-up, and relationship [extraction].

On the business side, we expect 2010 to be a "Home Run" year for all the TA vendors with growth rates of 75% to 200% not out of the norm. This is partly due to the mainstreaming of the technology, which is opening up a lot of additional verticals.

Categories: Sentiment Analysis, Technology, Text Analytics