Cloud Natural Language Processing (NLP) Market Trends By Top Companies: SAP, SAS, Convergys, Amazon Web Services, Apple, 3M, Verint Systems, Interactions LLC, Facebook, Fuji Xerox, Google, HP, IBM, Microsoft, Nuance Communications

Cloud Natural Language Processing (NLP) Market growth is driven by the increasing use of NLP technology across several industries such as BFSI, IT & telecommunication, media & advertisement and healthcare. 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.

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U.S. is estimated to be the leading regional segment in the global 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.

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

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

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.

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Aaccording to fresh research report by Global Market Insights, Inc. Cloud Natural Language Processing (NLP) Market is set to exceed USD 6 billion and is estimated to grow with around 17% CAGR from 2017 to 2024. 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.

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.

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.

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

Cloud natural language processing market is anticipated to experience substantial growth owing to the increasing investment in AI technology. AI has emerged as one of the most advanced technologies in the wide range of applications ranging from robotics to machine learning to advanced analytics.

The technology assists organizations in extracting powerful insights to drive faster business decisions in e-commerce, marketing, competitive intelligence, product management and several other areas of business to close the gap between insights and action. As AI matures, vendors will shift more towards the technology along with the conventional analytics platform, which is estimated to fuel investments.

Public cloud NLP market is analyzed to be the leading deployment model owing to the low cost and scalability offered by the public cloud deployment. On the other hand, hybrid cloud is estimated to witness high growth at over 19% CAGR during the forecast timeline as it offers benefits of both public and private cloud models.

Top Key Players in the Cloud Natural Language Processing (NLP) 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.

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