Natural Language Processing Market Growth, Share, Demand and Analysis of Key Players & Forecasts to 2030

Natural Language Processing Market size was valued at USD 13.17 Billion in 2021 and is projected to reach USD 65.38 Billion by 2030, growing at a CAGR of 19.49% from 2022 to 2030.

Natural language processing (NLP) is a computer application under artificial intelligence that can understand human language. This computerized technique allows human communication to be analyzed and interpreted by the computer on the basis of a set of technologies and theories. The goal of natural language processing is to minimize the time taken to understand computer languages such as Ruby, C, C++, and Java. NLP finds application in the analysis of big data owing to the fact that massive amounts of data are being generated in current business scenarios from sources such as audio, emails, web blogs, documents, social networking sites, and forums. Reports indicate that the global natural language processing market will prove to be extremely lucrative for the future.

The three main categories of NLP solutions are statistical NLP, rule-based NLP, and hybrid NLP. Optical character recognition (OCR), auto coding, text analytics, interactive voice response (IVR), pattern and image recognition, classification and categorization, and speech analytics are just a few of the recognition, analytics, and operational technologies that are part of natural language processing. In a variety of industry verticals, including automotive, retail and consumer goods, high tech and electronics, government, banking, financial services, and insurance (BFSI), health care and life sciences, research and education, and media and entertainment, natural language processing is used for applications like information extraction, question answering, machine translation, and report generation.

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Global Natural Language Processing Market: Major Players
IBM Corporation
Rasa Technologies GmbH
Google Inc.
Microsoft Corporation
Babylon Healthcare Services Limited
Micro Focus International PLC (HPE)
Adobe Systems Incorporated
Genpact Limited
Veritone Inc.
Amazon Web Services Inc.
Verint System Inc.
SAP SE
Salesforce.com Inc.
Klevu Oy
3M Company
Inbenta Technologies Inc.
AppOrchid Inc.
Intel Corporation
NetBase Solutions Inc.
Nvidia Corporation
SAS Institute Inc.

Global Natural Language Processing Market: By Types
Statistical NLP
Hybrid based NLP
Rule NLP

Global Natural Language Processing Market: By Applications
Machine translation
Information extraction
Report generation
Question answering
Others

Global Natural Language Processing Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Natural Language Processing market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors

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• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market

• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region

• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled

• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players

• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions

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