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Cloud Natural Language Processing Market Growth 2024 By Top Key Players: 3M, Apple, Amazon Web Services, Convergys, Facebook, Google, HP, IBM, Microsoft, Nuance Communications, SAP, SAS, Verint Systems, Digital Reasoning, Interactions LLC

11-08-2018 08:37 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

Cloud Natural Language Processing (NLP) Market

Cloud Natural Language Processing (NLP) Market

Cloud Natural Language Processing Market growth is driven by the increasing use of NLP technology across several industries such as BFSI, IT & telecommunication, media & advertisement and healthcare. For instance, BFSI sector is utilizing NLP technology for text mining, solving queries, machine translation applications for cross boarder payments, and foreign exchange. Similarly, hospitals, diagnostic and daycare centers are also widely adopting these solutions for managing notes and documents, analyzing transcriptions, and reduce human error. Besides, they also assist in reducing medication errors and manages Health Information Management systems for large hospitals.

Cloud Natural Language Processing (NLP) Market was estimated to be over USD 1.5 billion in 2016 and is set to exceed USD 6 billion by 2024; according to a new research report by Global Market Insights, Inc. Exponential growth of the digital data is one of the major factors that is driving the growth of the cloud natural language processing market. Data/information has emerged as one of the most important assets of the organizations. Companies are collecting, analyzing, and reporting vast volume of data for extracting meaningful insights to get competitive edge.

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Growing adoption of the big data technologies such as Hadoop and IoT among organizations along with popularity of cloud deployment is one of the major factors that are fueling the growth of the digital data. Digital data is estimated to grow at a rate of 40% for next 10 years and by the year 2020 data generation is expected to reach 44 zettabytes per year. As the data increases, it leads to the requirement of an effective analytics solution to process the information, therefore, driving the cloud natural language processing market growth.

Media & advertisement and the retail sector is also one of the major end-users of the the cloud natural language processing market solutions. They are leveraging NLP capabilities along with social media analytics modules and CRM solutions for lead generation and brand recognition. Furthermore, increasing interest of the market players towards these industry verticals is also backing the growth of the market. IBM, HP, SAS and EasyAsk are providing NLP tools such as sentiment analysis and text analysis to these industry sectors.

the cloud natural language processing market in healthcare applications are estimated to exhibit higher growth rate than other industry verticals. Healthcare organizations are widely adopting NLP solutions for analyzing clinical transcriptions, managing medical notes, and documentation purposes. Furthermore, these solutions also assist in reducing medication errors and adverse drug events by managing Health Information Management (HIM) systems. In addition, implementation of ICD-10 regulation and adoption of auto-coding technology in healthcare is further estimated to fuel the demand in the healthcare sector.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. 3M
2. Apple
3. Amazon Web Services
4. Convergys
5. Facebook
6. Google
7. HP
8. IBM
9. Microsoft
10. Nuance Communications
11. SAP
12. SAS
13. Verint Systems
14. Digital Reasoning
15. Interactions LLC

Make an inquiry for buying this report @ https://www.gminsights.com/inquiry-before-buying/2202

Cloud NLP Market, By Product

• Rule Based
• Statistical
• Hybrid
• Others

Cloud NLP Market, By Deployment Model

• Public Cloud
• Private Cloud
• Hybrid Cloud

Cloud NLP Market, By Technology

o Recognition
o Analytics
o Operational

U.S. is estimated to be the leading regional segment in the global the cloud natural language processing market owing to the presence of the large number of players. Increasing investment in the AI technology is also estimated to be one of the major factor backing the growth of the market. Furthermore, rapid adoption of the smart device is also estimated to contribute significantly towards the growth.

Asia Pacific is estimated to be the fastest growing region in the global cloud natural language processing market owing to the increasing adoption of the smart devices. Moreover, increasing investment in AI by Chinese players such as Baidu and Alibaba are also contributing significantly towards the revenue growth.

Some of the vendors offering the cloud natural language processing market are 3M, Apple, Amazon Web Services, Convergys, Digital Reasoning, Dolbey, Facebook, Fuji Xerox, Google, HP, IBM, Interactions LLC, Lexalytics Inc., Microsoft, Netbase Solutions Pty Ltd, Nuance Communications, SAP, SAS, and Verint Systems.

Browse key industry insights spread across 230 pages with 348 market data tables & 42 figures & charts from the report, Cloud Natural Language Processing (NLP) Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/cloud-natural-language-processing-nlp-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

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