Natural language processing (NLP) Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2023 to 2029)

The global natural language processing (NLP) market is anticipated to grow at a considerable CAGR of 24.9% during the forecast period. NLP is the sub-field of AI that focuses on the ability of a computer to understand human language (command) as spoken or written and to give an output by processing it. It recognizes, interprets, and manipulates human languages. Owing to the growing popularity of human-to-machine interactions and the requirement for big data technologies, NLP is gaining traction rapidly. It also plays a growing role in enterprise solutions that help streamline business operations, increase employee productivity, and simplify mission-critical business processes. NLP solutions/services are widely used in a variety of industries, including healthcare, manufacturing, BFSI, advertising, and automotive. Manufacturing, robotics, and process automation are all end-users of these solutions/services. NLP has been integrated into robots, which helps the manufacturing industry increase production efficiency and workflow. As a result, acceptance of these solutions is expected to increase. One of the major drivers and investors in the NLP market is large corporations. The use of NLP is anticipated to rise as these businesses employ deep learning, as well as supervised and unsupervised machine learning technologies for diverse applications. Large businesses are adopting these technologies for a variety of reasons, including cost and risk.

For Instance, NetBase merged with Quid, one of the leading firms in AI-driven text analytics, in January 2020. The merged firm will have a stronger range of next-generation consumer and market intelligence solutions as a consequence of this transaction. Contextual insights that highlight business patterns across all types of structured and unstructured data will be delivered by the combined organization.

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Market Coverage

The market number available for - 2021-2029
Base year- 2021
Forecast period- 2022-2029

Segment Covered- 

By Deployment
By Organization Size
By Type
By Processing Type
By End-user Industry

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- including IBM Corporation, Microsoft Corp., Google, Amazon Web Services, Inc., Meta Platforms, Inc., Baidu, Inc., SAS Institute Inc., IQVIA Inc. and Others.

Natural Language Processing (NLP) Market Report Segment

By Deployment

On-premise
Cloud

By Organization Size

Large Organizations
Small and Medium Organizations

By Type

Hardware
Software
Solutions

By Processing Type

Text
Speech/Voice
Image

By End-user Industry

Education
BFSI
Healthcare
IT and Telecom
Retail & Manufacturing
Media & Entertainment

A full Report of Natural language processing (NLP) Market is Available @  https://www.omrglobal.com/industry-reports/natural-language-processing-nlp-market

Natural Language Processing (NLP) Market Report Segment by Region

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

Company Profiles 

3M Co.
Automated Insights
Baidu, Inc.
Bitext Innovations, S.L.
Conversica
Google
Health Fidelity, Inc
Inbenta Holdings Inc.
IQVIA Inc.
LivePerson, Inc.
Meta Platforms, Inc.
MindMeld, Inc.
Netbase Solutions
Oracle Corp.
SAS Institute Inc.
SoundHound Inc.
Veritone, Inc.

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