NLP in Finance Market Trends, Size, Segments and Growth by Forecast to 2028
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By offering, Services to register for the highest CAGR during the forecast period
The scope of the services segment comprises professional and managed services. Services are essential to the NLP in finance software life cycle, including product upgradation, maintenance, training, and consulting. In the era of the digital economy, enterprises are evolving and demanding new ways to improve their Return on Investment and business optimization. Vendors offer various services in the NLP in finance market, such as support, maintenance, and consulting, to execute and manage the life cycle.
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By application, Risk Management and Fraud Detection to register for the highest market size during the forecast period
The use of NLP in risk management and fraud detection has been increasing due to its benefits, such as improved speed and accuracy of risk identification and more effective fraud detection. By analyzing large volumes of data, NLP algorithms can identify emerging risks that could impact financial markets. For example, NLP can analyze news articles, social media posts, and other data sources to identify emerging risks that could affect the industry.
By region, Asia Pacific to account for highest growth rate during forecast period
The market in Asia Pacific is expected to experience strong growth as its organizations are rapidly adopting NLP solutions to meet the demands of their customers. The competition in this region is fragmented, and market vendors are looking to expand their presence in the region, which would result in infrastructure improvement and business-strategic benefits. The market's main growth drivers are expanding the use of digital payments, the requirement to enhance customer interaction and service, and the accessibility of cutting-edge NLP technology.
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Some major players in the NLP in Finance market include Microsoft (US), IBM (US), Google (US), AWS (US), Oracle (US), SAS Institute (US), Qualtrics (US), Baidu (China), Inbenta (US), Basis Technology (US), Nuance Communications (US), Expert.ai (Italy).
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