Text analytics has been identified as an emerging market by many industry experts. The technology is being used in various application that has been extensively deployed across different sectors such as Retail, Healthcare and Pharmaceutical, FMCG, Telecommunications, Banking Financial Services, and Insurance and Government. Moreover, as the trend follows, according to a market report, the global Text Analytics market is expected to grow with a CAGR of 17.5% during the forecast period of 2018-2026.

Understanding the rising demand for technology in the current and futuristic Asia Pacific market, many top companies across the region are offering innovative resources to incorporate text analytics into your business operations. Here is the list of such companies to watch out for in 2020.

SAP

With the SAP HANA platform, you can gain real insights from your unstructured textual data. The platform provides search, text analysis, and text mining functionality for unstructured text sources. SAP HANA's full natural-language processing capabilities support linguistic analysis and entity and relationship extraction for your enterprise in-memory data. Moreover, users can apply statistical algorithms that enable people to detect patterns in large document collections, including key term identification and document categorization.

Statistical Analysis System (SAS)

One can gain insights from data with a combination of natural language processing, machine learning, and linguistic rules. SAS Visual Text Analytics in SAS® Viya® uses context to provide a comprehensive solution to the challenge of identifying and categorizing key textual data. You can build models (based on training documents) that analyze and categorize a set of documents, then customize them to realize the value of your text-based data.

Microsoft Corporation

Microsoft Azure's Text Analytics API is a cloud-based service that provides advanced natural language processing over raw text and includes four main functions: sentiment analysis, key phrase extraction, named entity recognition, and language detection. The API is a part of Azure Cognitive Services, a collection of machine learning and AI algorithms in the cloud for your development projects.

Hewlett Packard (HP)

HPE Haven OnDemand is an innovative cloud platform that provides advanced machine learning APIs and services that enable developers, startups, and enterprises to build data-rich mobile and enterprise applications. Its Advanced Text Analysis helps extract the key meaning from language by employing powerful concept extraction capabilities that go beyond traditional approaches to obtain key concepts, entities, and sentiment from text sources.

International Business Machine (IBM)

IBM's InfoSphere BigInsights Text Analytics includes developer tools, a programming language, a processing engine, and pre-built text extractors. In addition, built-in multilingual support for tokenization and semantic analysis enables the understanding of multiple languages and different parts of speech.

Extractors are written in the Annotation Query Language (AQL), a fully declarative Text Analytics language that allows for modular customization. By supporting modular AQL, you can reuse common extractors, dictionaries, rules, and tables to increase the usability and development productivity of Text Analytics applications.

Oracle Corporation

Oracle Text is a Database technology that provides term extraction, word and theme searching, and other utilities for querying text. When columns of text are present in the training data, Oracle Data Mining uses Oracle Text utilities and term weighting strategies to transform the text for mining. Oracle Data Mining passes configuration information supplied by you to Oracle Text and uses the results in the model creation process.

Clarabridge Inc.

Clarabridge's SaaS customer experience management solution helps hundreds of the world's leading brands put customer feedback to work. Offering the most comprehensive solution for Omni-source listening, accurate customer and text analytics, and real-time, guided action is why leading brands trust Clarabridge to power their CX programs and drive a customer-focused strategy. It has been named a Leader in the Forrester Research, Inc. June 2018 report, The Forrester Wave™: AI-Based Text Analytics Platforms, Q2 2018.