Content Analytics Market Size

Content Analytics Market Analysis

The Content Analytics Market size is estimated at USD 6.25 billion in 2024, and is expected to reach USD 10.53 billion by 2029, growing at a CAGR of 11.01% during the forecast period (2024-2029).

With the continued spread of digitization, the amount of data generated by people will only increase with time. As people spend more time interacting with digital technology, they'll create more content indicating their interests, behaviors, and preferences. 

• Moreover, with the staggering growth in data volume, sources, and formats, companies use information across the enterprise and beyond. It may even lead to an era where digital content and content analytics become the primary sources of market intelligence for businesses.
• Social media analytics is expected to play a pivotal role in the growth of the content analytics market over the forecast period due to the growing involvement of social media channels in advertising and customer outreach. Furthermore, content analytics would continue to experience vital growth and remain one of the principal factors driving the overall growth of the analytics market, considering the disruptive evolution of the Internet of Things (IoT) and big data technologies.
• Amongst all businesses, banking, financial services, and insurance (BFSI), and healthcare are supposed to hold important market shares of the global content analytics market. The BFSI industry generates large amounts of unstructured data, such as customer information, financial product logs, and transactional information, which can be used to improve decision-making.
• Mroever, August 2023 - Synthetaic, one of the leading providers of advanced artificial intelligence (AI) solutions, has announced a partnership agreement with Microsoft focused on revolutionizing AI data and cloud solutions. As part of this agreement, Microsoft is offering Synthetaic access to nearly 1 million hours (about 114 years) of cloud computing resources. This strategic partnership would unlock a new era of possibilities in computer vision and data analysis, with a wide range of benefits across defense and intelligence, commercial, and non-government agency applications.
• However, most of the companies that use content analytics struggle to completely use their potential, as they lack the expertise and skilled technicians who can handle and deal with digital data and multilingual abilities. Though, expensive analytic software and a deficiency of awareness among stakeholders may act as a challenge to the content analytics market growth over the projected period.
• COVID-19 led to more dependency of the general public on social media with worldwide lockdowns. This was favorable for the content analytics market, which grew in this period.