The global natural language processing (NLP) market is anticipated to grow at a considerable CAGR of 24.9% during the forecast period. NLP is the sub-field of AI that focuses on the ability of a computer to understand human language (command) as spoken or written and to give an output by processing it. It recognizes, interprets, and manipulates human languages. Owing to the growing popularity of human-to-machine interactions and the requirement for big data technologies, NLP is gaining traction rapidly. It also plays a growing role in enterprise solutions that help streamline business operations, increase employee productivity, and simplify mission-critical business processes. NLP solutions/services are widely used in a variety of industries, including healthcare, manufacturing, BFSI, advertising, and automotive. Manufacturing, robotics, and process automation are all end-users of these solutions/services. NLP has been integrated into robots, which helps the manufacturing industry increase production efficiency and workflow. As a result, acceptance of these solutions is expected to increase. One of the major drivers and investors in the NLP market is large corporations. The use of NLP is anticipated to rise as these businesses employ deep learning, as well as supervised and unsupervised machine learning technologies for diverse applications. Large businesses are adopting these technologies for a variety of reasons, including cost and risk.
For Instance, NetBase merged with Quid, one of the leading firms in AI-driven text analytics, in January 2020. The merged firm will have a stronger range of next-generation consumer and market intelligence solutions as a consequence of this transaction. Contextual insights that highlight business patterns across all types of structured and unstructured data will be delivered by the combined organization.
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Market Coverage
- The market number available for – 2021-2029
- Base year- 2021
- Forecast period- 2022-2029
Segment Covered-
- By Deployment
- By Organization Size
- By Type
- By Processing Type
- By End-user Industry
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- including IBM Corporation, Microsoft Corp., Google, Amazon Web Services, Inc., Meta Platforms, Inc., Baidu, Inc., SAS Institute Inc., IQVIA Inc. and Others.
Natural Language Processing (NLP) Market Report Segment
By Deployment
- On-premise
- Cloud
By Organization Size
- Large Organizations
- Small and Medium Organizations
By Type
- Hardware
- Software
- Solutions
By Processing Type
- Text
- Speech/Voice
- Image
By End-user Industry
- Education
- BFSI
- Healthcare
- IT and Telecom
- Retail & Manufacturing
- Media & Entertainment
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Natural Language Processing (NLP) Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- 3M Co.
- Automated Insights
- Baidu, Inc.
- Bitext Innovations, S.L.
- Conversica
- Health Fidelity, Inc
- Inbenta Holdings Inc.
- IQVIA Inc.
- LivePerson, Inc.
- Meta Platforms, Inc.
- MindMeld, Inc.
- Netbase Solutions
- Oracle Corp.
- SAS Institute Inc.
- SoundHound Inc.
- Veritone, Inc.
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