Latest News- Sentiment Analytics Software Market: On-premises is expected to lead the Deployment segment during 2025-2029

The Sentiment Analytics Software Market is being driven by Rising internet penetration and use of social media

The Sentiment Analytics Software Market is expected to grow at a CAGR of 16.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2336.2 million. The sentiment analytics software market is witnessing a notable trend with the integration of generative AI. In September 2024, Freshworks augmented its Customer Service Suite with generative AI capabilities, offering businesses an advanced omnichannel solution. This enhancement includes features such as real-time customer sentiment analysis, multi-language understanding, and quicker response times for agents. By automating and personalizing customer interactions, generative AI is revolutionizing customer service operations. Similarly, in October 2024, NinjaOne LLC, a leading IT platform specializing in endpoint management and automation, introduced a new feature utilizing generative AI for patch management processes. This innovation provides sentiment analysis for Windows updates, illustrating the versatility of generative AI in enhancing IT management and operational efficiency. These advancements underscore the growing significance of generative AI in sentiment analytics, empowering organizations to gain more accurate and real-time insights into customer and user sentiments. By leveraging advanced AI technologies, businesses can effectively anticipate and address customer needs, ultimately driving growth and enhancing overall customer satisfaction. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • On-premises
  • Cloud-based
• End-user
  • Retail
  • BFSI
  • Healthcare
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • India
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising internet penetration and use of social media
• Corporate focus on improving customer experience
• Expanding geographical footprints of large organizations

However, the market also witnesses some limitations, which are as follows:

• Context-dependent errors
• Data privacy and ethical concerns
• Language and cultural barriers

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Market Scope in Sentiment Analytics Software Market Research Report

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Research Analysis Overview

The Sentiment Analytics Software Market encompasses tools and technologies for analyzing sentiment from various social media platforms through techniques like opinion mining, text mining, and data visualization. These solutions enable data-driven decision making by assessing public sentiment, customer reviews, and social media engagement. They also offer features for brand reputation management, data storage, and computational propaganda detection. Additionally, they support social media strategy, monitoring, and listening, as well as public opinion polling and data-driven policy making. Cloud-based and on-premises options are available, catering to businesses of all sizes. Advanced features include big data analytics, healthcare sentiment analysis, political discourse analysis, government transparency, artificial intelligence (AI), machine learning techniques, customer success, business process optimization, brand monitoring, business intelligence, predictive analytics, online reputation management, and virtual assistants like chatbots. These tools play a crucial role in digital transformation, customer experience strategy, and digital marketing efforts.

Market Research Overview

The IT software market encompasses businesses specializing in the creation and distribution of application and system software. This sector comprises application software developers, focusing on niche solutions for enterprises and consumers, and excludes those producing database management or interactive home entertainment software. According to Technavio, the IT software market size is determined by the consolidated revenue of all software providers, including those offering cloud-based solutions. Sentiment analytics software falls under application software, utilizing advanced technologies like computational linguistics, natural language processing, and visualization tools to mine public opinions from unstructured content on public platforms such as social media and government sources. Efficiency gains from these solutions enable businesses to make informed decisions based on customer sentiment, market trends, and brand reputation.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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/