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The Global Natural Language Processing Market was valued at USD 7.86 billion in 2016 and is projected to reach USD 30.48 billion by 2025, growing at a CAGR of 16.25% from 2017 to 2025.
Natural language processing (NLP) is a field of computer science, artificial intelligence and computational linguistics concerned with the interactions between computers and human languages. Recent advances in this area include voice recognition software, human language translation, information retrieval and artificial intelligence, automatic summarization, text classification, sentiment analysis. NLP delivers several functions including â€" complex search capabilities, eliminate ineffective results, contextual understanding, and provides better results.
1. Market Drivers
1.1 Emerging options in application areas
1.2 Rising investments in speech solutions
1.3 Increasing demand for enhanced customer experience
1.4 Increasing adoption of NLP by healthcare industry
1.5 Emerging machine to machine technology
1.6 Growing usage of smart devices
1.7 Rapid data generation
2. Market Restraints
2.1 Need for advanced predictive technologies
2.2 Bridging the gap between man and machine
2.3 Stringent regulations
2.4 Poor customer adoption trends
The Global Natural Language Processing Market is segmented on the technology, type, deployment model, application, vertical, and region.
1.1 Pattern and Image Recognition
1.2 Interactive Voice Response
1.3 Optical Character Recognition
1.4 Text Analytics
1.5 Speech Analytics
1.6 Auto Coding
1.7 Professional Services
1.8 Support and Maintenance Services
1.9 Classification and Categorization
2. By Type:
2.1 Statistical NLP
2.2 Rule Based NLP
2.3 Hybrid NLP
3. By Deployment Mode:
3.1 Private Cloud
3.2 Public Cloud
3.3 Hybrid Cloud
4. By Application:
4.1 Information extraction
4.2 Machine translation
4.3 Question answering
4.4 Report generation
5. By Vertical:
5.2 Banking, Financial Services, and Insurance (BFSI)
5.3 Retail and Consumer Goods
5.4 Research and Education
5.5 High tech and Electronics
5.7 Media and Entertainment
6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
The major players in the market are as follows:
1. IBM Corporation
2. Hewlett-Packard Enterprise Company
3. Microsoft Corporation
4. Apple Incorporation
5. Dolbey Systems Inc.
7. Netbase Solutions
8. SAS Instituite, Inc.
9. Verint System
10. 3M Company
11. NetBase Solution Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Natural Language Processing Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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