Press release
Natural Language Generation (NLG) Market Anticipated To Witness Robust Growth, Surpassing $2.32 Billion By 2029
Natural Language Generation (NLG)
What Is the Current Natural Language Generation (NLG) Market Size and Its Estimated Growth Rate?
The size of the natural language generation (NLG) market has seen substantial expansion in recent years. Its growth projection estimates a rise from $0.88 billion in 2024 to $1.06 billion in 2025, with a compound annual growth rate (CAGR) of 21.4%. The increasing availability of data, the emergence of big data analytics, advancements in natural language processing (NLP), the requirement for data-centric insights, and incorporation with business intelligence (BI) tools can be seen as major contributors to this historic period growth.
It is predicted that the natural language generation (NLG) market will experience a rapid expansion in the upcoming years, escalating to $2.32 billion by 2029 with a compound annual growth rate (CAGR) of 21.5%. This rise for the projection period can be ascribed to the fast progress in deep learning, its integration with voice assistants, a surge in demand for automated content, growing significance of explainability, and a wider range of use in the healthcare sector. The forecast period is also likely to witness trends such as AI-powered innovation, bias reduction through ethical AI, technological progress, development of new products, and instantaneous language translation.
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How Are Emerging Segments Shaping the Natural Language Generation (NLG) Market Landscape?
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 Growth Factors Are Influencing Natural Language Generation (NLG) Market Expansion?
The growth of the natural language generation (NLG) market is expected to be driven by the rising volume and diversity of data. This refers to the vast and varying kinds of information that are being generated, captured, and processed by systems, applications and devices. It mirrors the exponential growth and diversity of data in each situation. The NLG is utilized to seamlessly convey insights derived from the mounting volume and diversity of data, by converting complex data sets into comprehensible and consistent narratives. This enables enterprises to obtain valuable knowledge and make insightful decisions in a format that is easier to read and understand. For example, G2.com, a software marketplace company based in the US, disclosed in February 2023 that data investments had increased in 87.8% of businesses, a growth of 41% from 2022. Consequently, the escalating volume and diversity of data are fuelling the growth of the next generation language market.
Who Are the Dominant Players Across Different Natural Language Generation (NLG) Market Segments?
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
What Are the Latest Developing Trends in the Natural Language Generation (NLG) Market?
Prominent firms in the natural language generation (NLG) industry are making progress in crafting advanced technology and products by merging stacks purposely designed for AI-driven applications. Merging stacks denote the action of unifying diverse software components or systems to function as one unit flawlessly. A software stack is a group of separate elements that come together to facilitate the operation of an application. For example, in 2023, Microsoft Corporation, a tech enterprise based in the United States, introduced the Azure OpenAI Service. This platform is flexible to the evolving demands of developers and organizations. Azure presents a comprehensive, integrated stack specifically designed for AI-driven applications, and includes a range of pre-built, task-optimized NLU/NLG abilities powered by Azure OpenAI. This advantage gives it a competitive superiority and exceptional performance. These models are adjustable for tasks like content summarization, understanding images, semantic search, and translating natural language to code.
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Which Geographic Regions Are Expected to Dominate the Natural Language Generation (NLG) Market in the Coming Years?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Natural Language Generation (NLG) Market?
2. What is the CAGR expected in the Natural Language Generation (NLG) Market?
3. What Are the Key Innovations Transforming the Natural Language Generation (NLG) Industry?
4. Which Region Is Leading the Natural Language Generation (NLG) Market?
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