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Market Size in USD Billion
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USD 13.17 Billion |
| USD 73.01 Billion | |
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Global Natural Language Processing (NLP) Market, By Component (Solutions, Services), Type (Rule-Based, Statistical, Hybrid), Processing Type (Text, Speech/Voice, Image), Technology (Recognition Technologies, Operational Technologies, Analytics Technologies), Deployment Mode (On-Premises, Cloud), Organization Size (Large Enterprises and Small and Medium Enterprises), End User (Banking, Financial Services, and Insurance, Healthcare and Life Sciences, IT and Telecom, Government and Public Sector, Energy and Utilities, Retail and E-Commerce, Manufacturing, Transportation and Logistics, Others), Application (Sentiment Analysis, Machine Translation, Data Extraction, Risk and Threat Detection, Automatic Summarization, Question Answering, Content Management, Report Generation, Language Scoring, Others) – Industry Trends and Forecast to 2030.
The increase in the usage of smart devices to facilitate smart environments is expected to influence the growth of global natural language processing (NLP) market over the forecast period of 2023 to 2030. Also the high demand for cloud-based NLP solutions to reduce overall costs and better scalability is also anticipated to flourish the growth of the global natural language processing (NLP) market. Furthermore, the rapid urge of predictive analytics to reduce risks and identify growth opportunities is also likely to positively impact the growth of the market. Moreover, rapid increase in scope and usage of IT and automation across the world is also expected create a huge demand for natural language processing (NLP) as well as lifting the growth of the global natural language processing (NLP) market.
Data Bridge Market Research analyses that the global natural language processing (NLP) market which was USD 13.17 billion in 2022, is expected to reach USD 73.01 billion by 2030, and is expected to undergo a CAGR of 20.1% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable Years 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Pricing in USD
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Segments Covered
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Component (Solutions, Services), Type (Rule-Based, Statistical, Hybrid), Processing Type (Text, Speech/Voice, Image), Technology (Recognition Technologies, Operational Technologies, Analytics Technologies), Deployment Mode (On-Premises, Cloud), Organization Size (Large Enterprises and Small and Medium Enterprises), End User (Banking, Financial Services, and Insurance, Healthcare and Life Sciences, IT and Telecom, Government and Public Sector, Energy and Utilities, Retail and E-Commerce, Manufacturing, Transportation and Logistics, Others), Application (Sentiment Analysis, Machine Translation, Data Extraction, Risk and Threat Detection, Automatic Summarization, Question Answering, Content Management, Report Generation, Language Scoring, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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IBM (U.S.), Wipro Limited (India), Microsoft (U.S.), Google (U.S.), Amazon Web Services, Inc. (U.S.), Meta (U.S.), Apple Inc. (U.S.), 3M (U.S.), Intel Corporation (U.S.), SAS Institute Inc. (U.S.), Inbenta Technologies Inc. (U.S.), Veritone, Inc. (U.S.), Dolbey (U.S.), Narrative Science (U.S.), Bitext (U.S.), Health Fidelity, Inc. (U.S.), Linguamatics (U.K.), Conversica, Inc. (U.S.), SparkCognition (U.S.), and RaGaVeRa Indic Technologies Pvt Ltd. (India)
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Market Opportunities
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Market Definition
Natural language processing (NLP) is a kind of a computer application under artificial intelligence which can understand human language. This computerized procedure allows human communication to be analysed and interpreted by the computer, based on set of theories and technologies. NLP blends statistical, machine learning, and deep learning models with computational linguistics. With the use of these technologies, computers are now able to process human language in the form of text or audio data and fully understand what is being said or written, including the speakers or writer's intentions and sentiment. NLP powers computer algorithms that translate text between languages, react to spoken commands, and quickly summarize vast amounts of text in real time.
Drivers
Consumer power has increased because of the internet and the ever developing channels for communication, consumption, and involvement. As a result, companies are being forced to rethink their operational and branding strategies. In today's cutthroat market, businesses must provide customer-focused experiences to win over existing customers. For instance, firms can use a variety of channels to enable an AI-powered chatbot that can respond to inquiries. Vendors of customer interaction platforms are integrating AI capabilities such as natural language processing to enable users to create scalable and customizable customer experiences without the need for human coding or logic building.
Opportunity
Natural language processing advancements are enhancing chatbot capabilities throughout the company. The capacity to understand client intent and sentiment as well as greater accuracy and multilingual help are possible results. The time it takes to resolve customer complaints can be significantly cut down with NLP. Chatbots can offer quick responses to frequent questions or even straightforward solutions by integrating easily with e-commerce, banking, or health applications. Thus, increasing popularity of chatbot can result in higher demand for NLP.
Restraint/Challenge
NLP uses algorithms developed with a specific objective in mind to help computers comprehend human language. Despite this, industry growth is being constrained by an increasing number of connection concerns, such as accessibility problems and non-contextual responses. Another barrier is the inability to distinguish between robots and humans or to comprehend complex or grammatically incorrect sentences. The likelihood of this complicating matters will be a challenge for significant market players.
This global natural language processing (NLP) market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global natural language processing (NLP) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
The natural language processing (NLP) market is segmented based on component, type, processing type, technology, deployment mode, organization size, end user and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
Type
Processing Type
Technology
Deployment Mode
Organization Size
End User
Application
Global natural language processing (NLP) market is analysed and market size insights and trends are provided by country, component, type, processing type, technology, deployment mode, organization size, end user and application, as referenced above.
The countries covered in the natural language processing (NLP)market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA)
North America leads the natural language processing (NLP) market due to the rapid improvement in cloud computing platforms.
Asia-Pacific is expected to expand at a significant growth rate in the natural language processing (NLP) market over the forecast period of 2023 to 2030 owing to the rise in awareness and rapid increase in AI investments.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
The global natural language processing (NLP) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to global natural language processing (NLP) market.
Some of the major players operating in the global natural language processing (NLP) market are:
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Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
The market is segmented based on Global Natural Language Processing (NLP) Market, By Component (Solutions, Services), Type (Rule-Based, Statistical, Hybrid), Processing Type (Text, Speech/Voice, Image), Technology (Recognition Technologies, Operational Technologies, Analytics Technologies), Deployment Mode (On-Premises, Cloud), Organization Size (Large Enterprises and Small and Medium Enterprises), End User (Banking, Financial Services, and Insurance, Healthcare and Life Sciences, IT and Telecom, Government and Public Sector, Energy and Utilities, Retail and E-Commerce, Manufacturing, Transportation and Logistics, Others), Application (Sentiment Analysis, Machine Translation, Data Extraction, Risk and Threat Detection, Automatic Summarization, Question Answering, Content Management, Report Generation, Language Scoring, Others) – Industry Trends and Forecast to 2030. .
The Global Natural Language Processing Nlp Market size was valued at USD 13.17 USD Billion in 2022.
The Global Natural Language Processing Nlp Market is projected to grow at a CAGR of 20.1% during the forecast period of 2023 to 2030.
The major players operating in the market include IBM , Wipro Limited , Microsoft , Google , Amazon Web ServicesInc. , Meta , Apple Inc. , 3M , Intel Corporation , SAS Institute Inc. , Inbenta Technologies Inc. , VeritoneInc. , Dolbey , Narrative Science , Bitext , Health FidelityInc. , Linguamatics ConversicaInc. , SparkCognition , and RaGaVeRa Indic Technologies Pvt Ltd. .
The market report covers data from the U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa.