Global Natural Language Processing Market This market research provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Research classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
The natural language processing market is expected to record a CAGR of over 17.1%, during the forecast period of 2018-2023.
Top Leading Players-
IBM Corporation, 3M Co., Apple Inc., Dolbey Systems Inc., Microsoft Corporation., NetBase Solutions Inc., SAS Institute Inc., Verint Systems Inc., Google LLC, Hewlett-Packard Enterprise Company, Nuance Communications Inc., SparkCognition, Veritone Inc., Salesforce.com Inc., Inbenta Technologies Inc.
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Industry Research Coverage
The increasing use of NLP in healthcare and call centers, rising demand for advanced text analytics, and growing machine-to-machine technology are the primary factors responsible for the growth of the natural language processing market. NLP has witnessed significant growth over the past few years, owing to affordable, scalable, and computational power, increase in digitization of data, and merger of NLP with deep learning (DL) and machine learning (ML). NLP has found increasing applications across various end-user industries, thus boosting the markets growth. However, the implementation of stringent government regulations is projected to hinder the markets growth, during the forecast period.
Rising Demand for Advanced Text Analytics to Fuel the Markets Growth
Advanced text analytics has witnessed considerable growth, due to the integration of NLP with text analytics. NLP converts human language into machine language. This helps in the analysis of data and the translation of insights back to the spoken language, for an improved understanding. In the era of Big Data, the right platform enables businesses to utilize their data lake and take complete advantage of text analytics and NLP algorithms. Besides, text analytics solutions have been in demand, as most of the modern-day organizations can gain better market insights. Several companies have started focusing on keeping track of the markets pulse, by aligning their product and services accordingly. They focus on products and service offerings, for higher profitability. Integrating text analytics enables companies to gain better market insights. This helps organizations to compete in the market, and thereby increase their market shares and presence.
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Key Developments in the Natural Language Processing Market
Jun 2018 – Salesforce.com Inc. added natural language support to its artificial intelligent services, for developers. The company announced that it is focusing on a trio of services, based on natural language understanding and object recognition, as a part of its Einstein portfolio.
Jan 2018 – SAS Institute Inc., a leader in the analytics domain, announced plans to make it easy for customers to build artificial intelligence solutions, by leveraging machine learning (ML) and natural language processing software. The companys latest SAS platform includes a new offering, SAS Visual Text Analytics, and significant enhancements to the SAS Visual Data Mining and Machine Learning platforms.
Major points covered in this research are:-
─Natural Language Processing Market Overview, Segment by Type (Product Category), by Application, by Region (2020-2023), Competition by Manufacturers
─Global Market Size (Value) of Natural Language Processing (2020-2023)
─Global Natural Language Processing Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2020-2023)
─Global Natural Language Processing Production, Revenue (Value), Price Trend by Type
─Global Natural Language Processing Market Analysis by Application
─Global Natural Language Processing Manufacturers Profiles/Analysis
─Natural Language Processing Manufacturing Cost Analysis
─Industrial Chain, Sourcing Strategy and Downstream Buyers
─Marketing Strategy Analysis, Distributors/Traders
─Market Effect Factors Analysis
─Global Natural Language Processing Market Forecast (2020-2023)
─Research Findings and Conclusion
Finally, this Natural Language Processing report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent Natural Language Processing product development and gives an outline of the potential Global market.
Irfan Tamboli (Sales)
Phone: + 1704 266 3234