Press release
Natural Language Processing Market Projected to Reach $42,389.83 Million, Growing with a CAGR of 20.6% in the 2020-2027
Natural Language Processing Market
Research Dive has published a new report on the global natural language processing market. As per the report, the market is anticipated to garner $42,389.83 million and rise at a CAGR of 20.6% in the 2020-2027 timeframe.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐ง๐จ๐ฐ @ https://www.researchdive.com/download-sample/5343
๐๐๐๐๐-๐๐ ๐๐ฆ๐ฉ๐๐๐ญ ๐จ๐ง ๐ญ๐ก๐ ๐๐๐ญ๐ฎ๐ซ๐๐ฅ ๐๐๐ง๐ ๐ฎ๐๐ ๐ ๐๐ซ๐จ๐๐๐ฌ๐ฌ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก
The COVID-19 pandemic outbreak in 2020 has severely impacted the growth of the natural language processing market. During the pandemic, the governments of many regions executed stringent lockdowns in numerous regions, which forced several industries to cease normal functioning. Hence, the demand for digital transformation in various industries increased massively. As a result, the demand for natural language processing solutions for improving customer experiences also increased enormously in numerous sectors, such as healthcare. All these factors propelled the market growth during the disaster period.
๐๐ฎ๐ฐ๐๐ผ๐ฟ๐ ๐๐บ๐ฝ๐ฎ๐ฐ๐๐ถ๐ป๐ด ๐๐ต๐ฒ ๐ก๐ฎ๐๐๐ฟ๐ฎ๐น ๐๐ฎ๐ป๐ด๐๐ฎ๐ด๐ฒ ๐ฃ๐ฟ๐ผ๐ฐ๐ฒ๐๐๐ถ๐ป๐ด ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐๐ฟ๐ผ๐๐๐ต
The growing initiatives by various businesses to improve customer experiences by implementing natural language processing solutions is fueling the growth of theโฏglobal natural language processing market. Additionally, the growing digitalization in the healthcare sector is boosting the use of natural language processing solutions in various hospitals and other healthcare premises. This factor is likely to unlock profitable opportunities for the market's growth in the forecast period. However, various complexities in natural language processing owing to the use of code-mixed language are expected to hinder the market's growth.โฏ
๐๐๐ ๐ฆ๐๐ง๐ญ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ซ๐ค๐๐ญ
The report segments the global natural language processing market into component, deployment, type, application type, vertical type, and region.
Based on component, the solution sub-segment is expected to grow with a CAGR of 19.1% in the estimated timeframe. This growth is mainly owing to the growing demand for natural language processing software and platforms owing to their remarkable features such as quick deployment, intelligent data analysis, and enhanced security.
Based on deployment, the cloud sub-segment is foreseen to record the highest CAGR in the forecast period. This growth is mainly because of the growing demand for cloud-based natural language processing platforms, as they allow users to use and scrutinize user-generated content, multilingual content, and other web content in a highly secure way, and help in accessing the data from anywhere at any time.
Based on type, the statistical sub-segment is expected to grow with a CAGR of 19.1% in the forecast period. This growth is mainly because of the growing use of statistical natural language processing solutions, as they allow natural conversations between chatbots and humans.
Based on application, the machine translation (MT) sub-segment is predicted to grow with a CAGR of 19.0% in the forecast period. This growth is mainly because of the growing adoption of MT natural language processing solutions, as they help users by saving their time by translating huge textual content.
Based on vertical type, the media and entertainment sub-segment is expected to grow with a CAGR of 19.1% in the estimated timeframe. These days there has been a significant rise in the adoption of digital platforms in entertainment and media companies, which is boosting the need for natural language solutions. This factor is likely to propel the growth of the media and entertainment sub-segment of the natural language processing market.
Based on region, the Asia-Pacific natural language processing market is projected to observe increased growth with a CAGR of 21.1% in the projected period. This growth is mainly owing to the growing demand for natural language processing solutions owing to the rising implementation of artificial intelligence technologies and digital devices in various countries in the region.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง @ https://www.researchdive.com/request-for-customization/5343
๐๐๐ฃ๐จ๐ซ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ซ๐ค๐๐ญ
The report lists some of the foremost players functioning in the global natural language processing market including Microsoft, IBM, Google, Facebook, Apple Inc., 3M, Intel, Baidu, Inc., SAS Institute Inc., Amazon, and others. These players are adopting various strategies to gain a competitive edge and strong hold in the global industry. For instance, in May 2022, One AI Inc., the developer of an API-first NLP service, introduced stealth mode with $8 million in funding to aid businesses to add natural language processing features into their applications.
The report also offers several industry-top tactics and approaches, such as top strategic moves & developments, product/service range, business performance, Porter's five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry.
๐๐๐ฅ๐๐ญ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
Personal Cloud Market: https://www.researchdive.com/5331/personal-cloud-market
Mobile Money Market: https://www.researchdive.com/5332/mobile-money-market
Sports Analytics Market: https://www.researchdive.com/5335/sports-analytics-market
Push to Talk Market: https://www.researchdive.com/5340/push-to-talk-market
Education and Learning Analytics Market: https://www.researchdive.com/5341/education-and-learning-analytics-market
๐๐จ๐ง๐ญ๐๐๐ญ:
๐๐ซ. ๐๐๐ก๐ข๐ฌ๐ก๐๐ค ๐๐๐ฅ๐ข๐ฐ๐๐ฅ
๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐ข๐ฏ๐
๐๐ ๐๐๐ฅ๐ฅ ๐๐ญ. ๐๐ญ๐ก ๐ ๐ฅ๐จ๐จ๐ซ, ๐๐๐ฐ ๐๐จ๐ซ๐ค ๐๐ ๐๐๐๐๐
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๐๐จ๐ฅ๐ฅ ๐ ๐ซ๐๐: ๐-๐๐๐-๐๐๐-๐๐๐๐
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Research Dive maintaining the integrity and authenticity of the services, the firm provides services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, a team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable.
Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive delivers the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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