Natural Language Processing Market Revenue Statistics 2022 Grow at 20% CAGR By Companies, Size, Trends and Share Forecast 2029

The Global Natural Language Processing Market is forecast to reach USD 49 billion by 2028 by rising at a compound annual growth rate (CAGR) of 20% throughout the forecast period from 2019 to 2028

Natural Language Processing Market Overview

It is now possible to establish up connection across diverse devices thanks to advancements in IoT and communication technologies. A smart home environment and connected automobiles have benefited from such a notion. The way industries operate and connect with their customers has changed as a result of technological innovation and digital transformation. Natural language processing has shown to be incredibly useful in facilitating communication between humans and computers. A smart device can be a smartphone, an industrial gadget installed in a factory, or a device that operates in a home or building. The growing need for voice-based solutions that integrate with NLP-based apps gives consumers more features, such as the ability to issue verbal commands and manage queries instantly. The smart home is made up of a variety of smart gadgets, such as thermostats, lights, and security systems.

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Industry Development
·         IBM announced Watson Works in June 2020 to solve the problems of returning to work. Watson Works would address issues such as managing facilities and optimising space allocation using real-time data, prioritising employee health by enabling employers to make evidence-based decisions, and maximising contact tracing effectiveness by providing organisations with care agents and contact tracers.
·         Microsoft and Adaptive Biotechnologies teamed in June 2020 to establish the ImmuneCODE database, which will share a population-wide immune response to the COVID-19 virus.
Research Methodology:

To calculate the market size, the report considers the revenue generated from the sales of Natural Language Processing market manufacturers. The revenue created from the sales of Natural Language Processing Market has been calculated through primary and secondary research.

The market size assessment also considered leading players revenues as part of triangulation the key players considered are Apple, Inc., IBM Corporation, Microsoft Corporation, Google, Inc., Amazon.com, Inc., Facebook, Inc., Intel Corporation, SAS Institute, Inc., Baidu, Inc., Conversica, Inc., Health Fidelity, Inc., and Inbenta Technologies, Inc. and Others.

The Natural Language Processing Market has been segmented as below:

Type Segment, 2019-2028, (IN USD MILLION)

Hardware

Software

Services

Processing Type Segment, 2019-2028, (IN USD MILLION)

Text

Speech/Voice

Image

Deployment Type Segment, 2019-2028, (IN USD MILLION)

On Premise

Cloud

END-USE INDUSTRY SEGMENT, 2019-2028, (IN USD MILLION)

Healthcare

BFSI

IT and Telecom

Education

Retail

Others

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Natural Language Processing Market: Regional Analysis

Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Natural Language Processing market in these countries, which covering North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico and Rest of the World.

Geographically, the market is dominated by APAC, North America and Europe.

Major Key areas that have been focused on in the report:

Raw material supply analysis
Major trends noticed in the Global Natural Language Processing Market
Market Geographic limitations, and pricing issues
Distribution, scheduling, performance, and supplier requirements
Growth opportunities that may emerge in the industry in the upcoming years
In-depth value chain analysis
Sustainability trends and environmental concerns
Market Gap and Opportunities
Global Market Growth Drivers, Opportunities, and Constraints.

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