NLP in Finance Market 2024: Demand, Growth Challenges, Industry Analysis And Forecasts To 2033

The nlp in finance market size has grown exponentially in recent years. It will grow from $5.34 billion in 2023 to $6.65 billion in 2024 at a compound annual growth rate (CAGR) of 24.3%. The growth in the historic period can be attributed to rise in content creation evolution in ai and deep learning, acceleration in the deployment of large language models (llms), enhanced customer experiences, application of sentiment analysis in the finance industry.

The nlp in finance market size is expected to see exponential growth in the next few years. It will grow to $16.14 billion in 2028 at a compound annual growth rate (CAGR) of 24.8%. The growth in the forecast period can be attributed to increasing adoption of ai, increasing demand for automated and efficient financial services, emergence of ai and ml models, increasing data extraction and analysis, increasing fraud detection and security. Major trends in the forecast period include innovation of cloud storage, continuous product innovations, technological advancement, rising collaborations.

Market Overview -
Natural Language Processing (NLP) in Finance refers to the application of language understanding and processing techniques within the financial domain. It involves using computational algorithms to analyze, interpret, and derive insights from textual data in the financial sector.

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AI-Powered Natural Language Processing Catalyzes Growth In The Finance Sector
The increasing adoption of AI is expected to boost the growth of the NLP in the finance market going forward. Artificial Intelligence (AI) involves replicating human intelligence in machines, programming them to think and learn like humans. AI-powered natural language processing assists financial institutions in extracting valuable insights from extensive textual data sources like news articles, financial reports, and social media content, facilitating efficient analysis and informed decision-making by financial professionals. For instance, in January 2022, according to the Government Digital Service, a UK-based government body, the adoption rate rose to 22.7% in 2025 from 15.1% in 2020, with 267,000 more companies implementing AI in their daily operations. Therefore, the increasing adoption of AI is driving the growth of the NLP in the finance market.

Competitive Landscape -
Major companies operating in the nlp in finance market report are Google LLC, Microsoft Corporation, Amazon Web Services Inc., IBM Corporation, Oracle Corporation, Mosaic, Baidu, SAS Institute, Qualtrics, LivePerson, NuanceCommunications, Veritone, Basis Technology, Uniphore, Expert.ai, Bitext, ABBYY, Automated Insights, Conversica, Skit.ai, Kensho, Kasisto, Inbenta, Observe.Al, Addepto, Accern

AI Markets Revolutionizes Institutional Investors' Engagement With International Markets
Major companies operating in NLP in the finance market are developing innovative technologies, such as using artificial intelligence (AI) technologies to better serve customers with advanced features. AI technology involves creating computer systems capable of executing tasks that typically demand human intelligence. For instance, in May 2023, HSBC, a UK-based banking and financial services company, launched the AI market, a digital service offering that uses purpose-built natural language processing (NLP) to improve institutional investors' engagement with international markets. The AI Markets possess the potential to transform how investors navigate the intricacies of financial markets. Through a simple input of commands, the proprietary NLP engine empowers users to create personalized financial market analytics, access HSBC's up-to-the-minute and historical cross-asset data sets, and explore the most recent market insights.

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Key Segments -
The nlp in finance market covered in this report is segmented -
1) By Offering: Services, Software
2) By Technology: Machine learning, Deep learning, Natural language generation, Text classification, Topic modeling, Emotion detection, Other Technologies
3) By Vertical: Banking, Insurance, Financial services, Other Enterprise Verticals

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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