World Natural Language Processing Market Application (Automatic Summarization, Sentiment Analysis, Risk & Threat Detection), Taking A Nimble Approach To Global Opportunity Analysis and Industry Forecast, 2021-2027

The Global Natural Language processing is a field of computer science, and artificial intelligence that is concerned with interaction between computer and human language.It is a component of artificial intelligence, capable of understanding human language and later converts into machine language. In the current business scenario, humongous amount of data (big data) is being generated from various sources such as emails, audio, documents, web blogs, forums, social networking sites, etc. Natural language processing technique is been used in analysis of big data. Therefore, the natural language processing market would be lucrative in future.
The greatest challenge for natural language processing applications is to identify human voice with different patterns, tones, pronunciations and to convert it into a programmable language. The main goal of such applications is to reduce the use of specialized languages such as Java, Ruby, C, etc., and introduce only human language in all computerized systems.

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The biggest advantage of this application is its basic and advanced level of interaction with humans. In future, humans would need to feed codes to systems orally instead of writing them on the computer system. Currently, such applications are used in voice recognition systems; however, eventually, these applications would find substantial demand in varied domains. Convenient interaction with machines would drive the global NLP market. Additionally, customer care centers are continuously adopting natural language processing technologies to provide better customer experience that contributes in driving the global market.

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Various sectors in which NLP is being used are Automotive, Healthcare, Banking Financial Services and Insurance, IT and Telecom, Government, Defense & Aerospace, Media & Advertisement, Academia and Education. The companies in Automotive, IT & telecom and Defense & Aerospace sectors are the major industries where NLP is being used in various applications. The research shows that use of interaction voice recognition would increase in other sectors by 2020.
Natural Language Processing market analysis by Geography
The analysis is carried out in the various regions such as North America, Europe, Asia Pacific and LAMEA According to the analysis done of the NLP market, Asia-Pacific region would be the fastest growing market amongst others. The growth of the market is due to increased spending capabilities of the people and rise in the use of voice recognition application by various industries.
The top market players are adopting product launch as their key developmental strategy. Nokia has launched a novel product named HERE, which uses NLP techniques and has challenged the top market players. The Key players in the NLP market are SAS, Nokia, Microsoft, Facebook, Apple, 3M, Nuance Communications, Netbase, Verint systems, and Fuji Xerox.

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