Cloud Natural Language Processing (NLP) Market Trend with Global Foresight 2024 by top players |Google, Microsoft, IBM, HP, AWS, Baidu, Dolbey Systems, Facebook, Netbase Solutions, Fuji Xerox, Lexalytics, SAS, and Verint Systems

The ‘Cloud Natural Language Processing (NLP) market’ report formulated recently by Market Study Report, LLC, evaluates the industry in terms of market size, market share, revenue estimation, and geographical outlook. The study also delivers a precise summary that illustrates the competitive milieu, growth opportunities and application landscape of the Cloud Natural Language Processing (NLP) market depending on the industry’s financial and non-financial impact.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. Global cloud Natural Language Processing (NLP) market is set to exceed USD 6 billion by 2024, according to this new research report. 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 NLP market growth.

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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.Media & advertisement and the retail sector is also one of the major end-users of the cloud NLP 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. For instance, IBM, HP, SAS and EasyAsk are providing NLP tools such as sentiment analysis and text analysis to these industry sectors.

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 NLP solutions are Google, Microsoft, IBM, HP, AWS, Baidu, Dolbey Systems, Facebook, Netbase Solutions, Fuji Xerox, Lexalytics, SAS, and Verint Systems. Vendors are trying to capture the market with customized product portfolio, that will help them in gaining more market share. Also, they are collaborating with cloud providers to offer products and services especially, to SMEs. The market is quite attractive as majority of the players are ready to invest in technologies such as AI, deep learning, and machine learning.

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Cloud NLP market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:

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

Recognition

Analytics

Operational

Cloud NLP Market, By Application

Information Extraction

Machine Translation

Processing & Visualization

Question Answering

Others

Cloud NLP Market, By End-use

Automotive

BFSI

Consumer Electronics

Government & Legal

Healthcare and Lifescience

IT & Telecommunication

Media and Advertisement

Research and Education

Retail

Others

The above information has been provided on a regional basis for the following:

North America

U.S

Canada

Europe

UK

Germany

France

Italy

Spain

Asia Pacific

Australia

China

India

Japan

South Korea

Latin America

Brazil

Mexico

Middle East and Africa

UAE

Israel

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Some of the Major Highlights of TOC covers:

Chapter 1: Methodology & Scope

Definition and forecast parameters

Methodology and forecast parameters

Data Sources

Chapter 2: Executive Summary

Business trends

Regional trends

Product trends

End-use trends

Chapter 3: Cloud Natural Language Processing (NLP) Industry Insights

Industry segmentation

Industry landscape

Vendor matrix

Technological and innovation landscape

Chapter 4: Cloud Natural Language Processing (NLP) Market, By Region

Chapter 5: Company Profile

Business Overview

Financial Data

Product Landscape

Strategic Outlook

SWOT Analysis

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