Press release
Natural Language Generation (NLG) Market Set to Reach $2.32 Billion by 2029 with 21.5% Yearly Growth
Natural Language Generation NLG Market
The anticipated growth of the natural language generation (NLG) market can be attributed to the expanding volume and diversity of data. In this context, the volume and diversity of data pertain to an enormous amount of different kinds of data created, gathered, and analyzed by various systems, applications, and tools, an indication of the expanding scale and disparity of data in each setting. NLG is employed to efficiently convey insights from these growing streams of varied data by converting complex datasets into understandable and coherent narrations, which allows businesses to extract significant data and make informed decisions in an easier, human-friendly format. This was reflected when G2.com, a US-based software marketplace company, disclosed in February 2023 that 87.8% of corporations increased their investment in data, marking a 41% rise from the previous year, 2022. As such, the escalating volume and variety of data are fueling the evolution of the next language generation market.
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What is the projected compound annual growth rate (CAGR) of the natural language generation (nlg) market from 2025 to 2034, and what factors influence it?
The dimension of the natural language generation (NLG) market has seen a massive expansion in recent times. The projections show an increase from $0.88 billion in 2024, escalating to $1.06 billion in 2025 with an annual compound growth rate (CAGR) of 21.4%. Factors contributing to the past period's growth include enhanced data accessibility, the ascent of big data analytics, advancements in natural language processing (NLP), the growing need for data-oriented insights, and assimilation with business intelligence (BI) tools.
The market size for natural language generation (NLG) is predicted to experience a significant hike in the coming years. The growth trajectory indicates an expansion to $2.32 billion by 2029, with a compound annual growth rate (CAGR) of 21.5%. Factors driving growth in the projected period include rapid progress in deep learning, integration with voice assistants, rising demand for automated content, growing significance of explainability, and broader application in the healthcare sector. The forthcoming period will also see trends such as AI-fueled creativity, ethical AI with bias reduction, technological progression, product innovation, and instantaneous language translation.
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How are the latest trends influencing the growth of the natural language generation (nlg) market?
Major players in the Natural Language Generation (NLG) field are advancing their technology and products through the incorporation of purpose-built stacks for AI-fueled applications. This concept of integrating stacks involves making various software elements or systems interoperatively compatible. A software stack is essentially a cluster of independent modules that coordinate in tandem to facilitate an application's operation. For example, in 2023, Microsoft Corporation, an American technological business, rolled out the Azure OpenAI Service. This system adjusts to the escalating demands of developers and organizations. Azure proffers a thorough, unified stack strategized for AI-boosted applications and proffers sets of readily made task-specialized NLU/NLG capacities, powered by Azure OpenAI, positioning it distinctly competitive and high performing. These models can be customized to duties like content aggregation, image cognition, semantic search, and conversion of natural language into code.
What are the major segments of the natural language generation (nlg) market and their role in driving growth?
The natural language generation (NLG) market covered in this report is segmented -
1) By Deployment: On-Premise, Cloud
2) By Organization Size: Small and Medium Enterprises (SMEs), Large Enterprises
3) By Application: Fraud Detection, Predictive Maintenance, Risk And Compliance Management, Performance Management
4) By Vertical: Banking, Financial Services And Insurance (BFSI), Retail And Ecommerce, Government And Defense, Healthcare And Life Sciences, Manufacturing, Telecom, IT, Media And Entertainment, Energy And Utilities
Subsegments:
1) By On-Premise: Local Server Installations, Customized NLG Software Solutions, Integrated Enterprise Systems, Self-Hosted Data Processing Systems
2) By Cloud: Software As A Service (Saas) NLG Platforms, API-Based NLG Services, Cloud Storage And Processing Solutions, Multi-Tenant Cloud Environments, Subscription-Based NLG Applications
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Which regions are key players in the growth of the natural language generation (nlg) market?
North America was the largest region in the natural language generation (NLG) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the natural language generation (NLG) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the natural language generation (nlg) market?
Major companies operating in the natural language generation (NLG) market report are Amazon.com Inc., Alphabet Inc., Microsoft Corporation, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Oracle Corporation, SAP SE, NVIDIA Corporation, Infosys Limited, Baidu Inc., SAS Institute Inc., Conversica Inc., Automated Insights Inc., OpenAI Inc., Narrative Science Inc., Persado Inc., Arria NLG plc, Hugging Face Inc., Retresco GmbH, AX Semantics GmbH, vPhrase Analytics Solutions Pvt. Ltd., Yseop SA, Phrasetech, Narrativa, Gabriele Sarti
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What Is Covered In The Natural Language Generation (NLG) Global Market Report?
•Market Size Forecast: Examine the natural language generation (nlg) market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the natural language generation (nlg) market for a structured understanding.
•Key Players Overview: Analyze major players in the natural language generation (nlg) market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the natural language generation (nlg) market.
•Segment Contributions: Evaluate how different segments drive overall growth in the natural language generation (nlg) market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the natural language generation (nlg) market.
•Industry Challenges: Identify potential risks and obstacles affecting the natural language generation (nlg) market.
•Competitive Landscape: Review strategic developments in the natural language generation (nlg) market, including expansions, agreements, and new product launches.
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