Natural Language Processing Market 2021 Insights and Business Scenario- Google Inc., Microsoft Corporation, NVIDIA Corporation, Intel Corporation, Baidu Inc., Qualcomm Incorporated, Texas Instrument

The Natural Language Processing Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The global natural language processing (NLP) market was valued at USD 10.93 billion in 2019, and it is expected to be worth USD 34.80 billion by 2025, registering a CAGR of 21.5% during the forecast period. 

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Competitive Landscape:

Top Companies: Hardware Providers, NVIDIA Corporation, Intel Corporation, Baidu Inc., Qualcomm Incorporated, Texas Instrument, Software and Service Providers, Google Inc., Microsoft Corporation, Micro Focus International PLC (HPE), SAS Institute Inc., IBM Corporation, NetBase Solutions Inc., Verint System Inc., Genpact Limited, Adobe Inc., Intel Corporation, NVIDIA Corporation, Amazon Web Services Inc., App Orchid Inc., Inbenta Technologies Inc., Veritone Inc., SAP SE, Salesforce.com Inc., .Rasa Technologies GmbH, Babylon Healthcare Services Limited, Klevu Oy

Industry News and Updates:

- October 2019 - Google LLC had been planning to augment its search engine with natural-language processing features that were expected to be equipped with the most significant updates from the past five years. Google planned to add new NLP models to its search engine that uses a technique called Bidirectional Encoder Representations from Transformers, or BERT, to analyze user queries. The method allows artificial intelligence algorithms to interpret text more accurately by analyzing how the words in a sentence relate to one another.
- January 2020 - NetBase announced the merger with Quid, which is one of the prominent companies in AI-driven text analytics. As a result of this merger, the combined company will have an enhanced portfolio in the next generation consumer and market intelligence solution. The merged company will deliver contextual insights that reveal business trends across all forms of structured and unstructured data.

Key Market Trends:

- The Asia-Pacific region is one of the most potential markets for the NLP industry. The region is also witnessing an increasing rate of adoption for the AI and ML technologies, especially among SMEs in the region. The voice assistance market has also been booming in Asia, and the region is home to many consumer electronics manufacturers, including smart speakers and smartphones.
- In the present scenario, most of the AI development is done by large internet companies, across the world. Apart from the United States, most of these companies are based in China. The Chinese government has also been very active in advancing its AI strategy. The growth of NLP in the country is mainly fueled by the governmental blueprint, which was outlined in 2017, in order to make the country the worlds uncontested AI power in the next decade.

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What are the market influences that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Natural Language Processing Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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