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Natural Language Processing Market Top Players Shaping Industry Apple Incorporation, Dolbey Systems, Google LLC, Hewlett-Packard Enterprise Company, International Business Machine Corporation

05-03-2019 08:17 AM CET | IT, New Media & Software

Press release from: Coherent Market Insights

Natural Language Processing

Natural Language Processing

Natural language processing is a branch of artificial intelligence, which is developed to make machine understand words or statements written and spoken in human language. Increasing adoption of natural language processing by various organization helps reduce customer effort, improve organizations analytical capabilities, and enable advanced automation. Virtual assistants enable customers to communicate with organizations through an online chat box in vernacular language and helps customer experience.

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Key Companies: Global Natural Language Processing Market

Apple Incorporation, Dolbey Systems, Google LLC, Hewlett-Packard Enterprise Company, International Business Machine Corporation, Microsoft Corporation, Netbase Solutions, SAS Instituite, Inc., Verint System are some of the major companies in the global natural language processing market.

Rising demand for advance text analytics is expected to positively aid in growth of the market for natural language processing

Integration of natural language processing in text analytics has led to growth of advanced text analytics solutions. Natural language processing helps convert human language to machine language. This helps in analysis of the data and convert insights back to human language for better understanding. Rising demand for text analytics in various organization for gaining better market insights has accelerated demand for text analytic solutions.
The increasing adoption of NLP in healthcare industry plays a major role for the growth of the market. With the help of NLP the clinical researchers extracts the disease related information. In January 2018, Inspirata, Inc announced the acquisition of a Toronto-based Artificial Intelligence in Medicine, Inc. AIM spent over 30 years in developing and commercializing tools that extract cancer related information and data from clinical documents such as clinician’s notes, treatment plans, molecular testing reports and pathology reports with the help of natural language processing and artificial intelligence.

Social media channel plays a key role for growth of the natural language processing market

Increasing competition in various verticals has led to demand for real-time market insights related to customer demands and other factors. For gaining real-time market insights, it is important for companies to analyze large volumes of unstructured data generated. Natural language processing systems are required to convert the unstructured human language data into machine language and also derive insights from human language with sentiments and emotions. Social media is one of the major platforms, which provides large volume of unstructured data to organizations. Facebook, Twitter, Google+, Pinterest, Instagram, LinkedIn, YouTube etc. are some of the popular social media channels.

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Natural Language Processing Market Taxonomy

On the basis of End-use Industry, the natural language processing market is classified into:

• Automotive
• BFSI
• Government
• Healthcare
• Media and Entertainment
• Retail and Consumer Goods
• Others

On the basis of Application, the natural language processing market is segmented into:

• Machine Translation
• Information Extraction
• Report Generation
• Text Processing

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Coherent Market Insights
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#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

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