Press release
Natural Language Processing NLP Market to Record an Exponential CAGR by 2025
Natural language processing (NLP) is a field of artificial intelligence related to the interaction of human and machine. The Natural language processing (NLP) solution enable communication between human and machine by analyzing the content written and spoken in natural human language and converting it into the machine understandable language. Growing amount of big data has increased the demand for solutions that can provide quick and real-time access to the important data. Natural language processing solution allows machine to perform various operations such as information extraction, language translation, and report generation etc. with higher efficiency.
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Global Natural Language Processing (NLP) Market: Segmentation
Global natural language processing (NLP) market is classified into technology, type, service, application, deployment model, vertical, and region. The global natural language processing (NLP) market can be segmented on the basis of technology type which includesauto coding, text analytics, optical character recognition (OCR), interactive voice response, pattern & image recognition, and speech analytics.On the basis of type the market can be segmented into rule bases natural language processing (NLP), statistical natural language processing (NLP), and hybrid natural language processing (NLP). Service includes integration service, consulting service, and maintenance service. The global natural language processing (NLP) is segmented on the basis of deployment model which includes on-premise and on-demand. Vertical wise, the global natural language processing (NLP) market is segmented into healthcare sector, public sector, retail sector, media & entertainment, manufacturing and other sector.Region wise, global natural language processing (NLP) market is segmented into North America, Latin America, Western Europe, Eastern Europe, Japan, Asia pacific (APEJ), and Middle East and Africa (MEA).
Global Natural Language Processing (NLP) Market: Region-wise Outlook
The global natural language processing (NLP) market is expected to witness a considerable growth in CAGR during the forecast period from 2015 to 2025. Regions such as North America, Western Europe and APEJ is expected to create huge growth opportunities for key players operating in the natural language processing (NLP) Market.
Global Natural Language Processing (NLP) Market: Drivers
Increased adoption rate of natural language processing (NLP) solutions across vertical is driving the growth of the natural language processing market. In addition, growing demand for M2M translation and increasing application areas are expected to fuel the global natural language processing market growth.
Global Natural Language Processing (NLP) Market: Restraints
Certain government rules and regulations and low adoption of natural language processing solutions across end-user sectors in emerging regions are some of the factors that are hindering the growth of natural language processing (NLP) market.
Global Natural Language Processing (NLP) Market: Competitive Landscape
Key players in the global natural language processing (NLP) market focus on introducing advanced solutions and services in order to enhance customer experience and outperform competitors. For example, IBM unveiled Watson Analytics – a cloud based natural language service in 2014.
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Global Natural Language Processing (NLP) Market: Key Players
Some of the major players identified in the global natural language processing (NLP) market are IBM Corporation, 3M Co., Hewlett-Packard Co., Apple Inc., Oracle Corporation, Microsoft Corporation, Dolbey Systems Inc., SAS Institute Inc., Netbase Solutions Inc., and Verint Systems Inc. etc.
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