Press release
Healthcare Natural Language Processing (NLP) Market Outlook 2024, Advancement in Machine Language
Natural language processing (NLP) technologies allows humans to interact with computers through conventional languages such as English and German instead of artificial languages such as Java and C++. These technologies use a computer to process, analyze, and generate computational linguistics on the basis of human languages. Currently, NLP technology is being extensively used in the healthcare industry as several public and private health organizations are using it for clinical applications. Hospitals and clinics are adopting these technologies to improve patient engagement and bring in efficiency in decision-making capabilities. Owing to these reasons, the global healthcare natural language processing market is expected to be worth US$4.3 bn by the end of 2024 from US$936 mn in 2015. Between the years of 2016 and 2024, the global market is expected to expand at a CAGR of 18.8%.
The demand for NLP technology is expected to surge in the coming years as it is being used as a strategic tool to derive meaningful comprehensive of clinical informatics for effective outcomes by the healthcare industry. Used as a part of artificial intelligence systems, applications of NLP technologies are being deployed for predictive analysis and clinical decision support systems. The global healthcare natural language processing market is expected to receive an impetus from the uptake of these technologies by several companies for extracting knowledge from several clinic documents via machine learning or deep learning applications. The growing volume of unstructured clinical data and the unstoppable penetration of electronics health record (EHR) systems are expected to fuel the growth of this market in the coming years.
Interpret a Competitive outlook Analysis Report with PDF Brochure: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=18554
Demand for Machine Translation to Remain Steady through Forecast Period
On the basis of technology, healthcare NLP market is fragmented into machine translation, information extraction, automatic summarization, and text and voice processing. Out of these, the demand for machine translation and information extraction is expected to remain high in the healthcare applications in the coming years. The increasing influx of unstructured clinical information and pressing need for data analytics in clinical applications for text mining and document classification is expected to drive this demand. On the other hand, the text and voice processing segment is also projected to come across a plethora of opportunities in the healthcare NLP market. Factors such as growing adoption of speech recognition, and voice processing systems in EHR platforms, and artificial intelligence applications will boost the growth of the aforementioned segment.
North America Paces Ahead as Region Witnesses Spike in Number of Providers
Geographically, the global healthcare natural language processing market is segmented into North America, Europe, Asia Pacific, South America, the Middle East and Africa, and Latin America. Presently, North America and Europe are leading the global market. The dominance of North America is attributable to the growing adoption of advanced technologies in healthcare applications and a strong foothold NLP technology providers. This regional market is also likely to thrive due to growing number healthcare organizations that are focusing on real-time analytics along with the integration of data analytics in various clinical processes. Furthermore, the growing investments by companies in developing improved NLP technology and artificial intelligence with the help of machine learning and automated decision-making support systems are also expected to drive the North America healthcare natural language processing market in the coming years.
The key players operating in the global healthcare natural language processing market are NLP Technologies, Inc., NEC Corporation, Apple, Inc., Microsoft Corporation, Dolbey Systems, Inc., IBM Corporation, NetBase Solutions, Inc., SAS Institute, Inc., Verint Systems, Inc., eContext, Linguamatics Ltd., and Artificial Solution. Several companies are making terrific investments in developing advanced technologies and diversified solutions for healthcare applications.
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Healthcare Natural Language Processing (NLP) Market Outlook 2024, Advancement in Machine Language here
News-ID: 417886 • Views: …
More Releases from TMR
Emerging Opportunities in Logistics Market with Current Trends Analysis
The global Logistics market is estimated to attain a valuation of US$ 15,273.21 Bn by the end of 2027, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 4.5% during the forecast period, 2019-2027.
The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of the…
Energy Measurement IC Market is expected to reach US$ 8.39 Bn by the end of 2031
According to a Transparency Market Research (TMR) research report, the global energy measurement ic market is likely to expand at a CAGR of 7.4% during the forecast period, 2022 to 2031. This suggests that the market is expected to reach US$ 8.39 Bn by the end of 2031.
The study on the energy measurement ic market adopts rigorous and systematic research approaches to understand the growth dynamic of the market. The…
STATCOM UPS Market to Register Double Digit Growth Rate of 16% CAGR by 2024
Over the last decade, rising number of industries and utilities are opting for static synchronous compensator or STATCOM UPS instead of static VAR compensator or SVC UPS. Low harmonic emission coupled with high speed of response is accentuating the expansion of India STATCOM UPS market now and in times to come. Playing a crucial role in voltage control and compensation of reactive power, STATCOM UPS is likely to keep its…
Thin Wafer Processing and Dicing Equipment Market US$692.5 mn by 2024 - TMR
Transparency Market Research (TMR) estimates that the global thin wafer processing and dicing equipment market has a highly consolidative landscape. Disco Corp. accounted for largest share of 56.4% in 2015 and likely to be dominant in the coming years. This is creating monopoly in the thin wafer processing and dicing equipment market in terms of competitive presence. The other key players such as EV Group, Plasma-Therm LLC, Lam Research Corp,…
More Releases for NLP
Healthcare Natural Language Processing (NLP) Market | Global and Regional Ana …
Healthcare Natural Language Processing (NLP) Market describes an in-depth evaluation and Covid19 Outbreak study on the present and future state of the Healthcare Natural Language Processing (NLP) market across the globe, including valuable facts and figures. Healthcare Natural Language Processing (NLP) Market provides information regarding the emerging opportunities in the market & the market drivers, trends & upcoming technologies that will boost these growth trends. The report provides a comprehensive…
Healthcare Natural Language Processing (NLP) Market including top key players NL …
Los Angeles, United States, North America including Q1-2021 analysis The report named, Global Healthcare Natural Language Processing (NLP) Market has been added to the archive of market research studies by JCMR. The industry experts and researchers have offered reliable and precise analysis of the Healthcare Natural Language Processing (NLP) in view of numerous aspects such as growth factors, challenges, limitations, developments, trends, and growth opportunities. This Healthcare Natural Language Processing…
Healthcare Natural Language Processing (NLP) Market Impressive Gains including k …
Los Angeles, United State, – including Q4 analysis The report named, Global Healthcare Natural Language Processing (NLP) Market has been added to the archive of market research studies by JCMR. The industry experts and researchers have offered reliable and precise analysis of the Healthcare Natural Language Processing (NLP) in view of numerous aspects such as growth factors, challenges, limitations, developments, trends, and growth opportunities. This report will surely act as…
Healthcare Natural Language Processing (NLP) Market to 2018-2025| NLP Technologi …
Researchmoz added Most up-to-date research on "Global Healthcare Natural Language Processing (NLP) Market Size, Status and Forecast 2018-2025" to its huge collection of research reports.
This report focuses on the global Healthcare Natural Language Processing (NLP) status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Healthcare Natural Language Processing (NLP) development in United States, Europe and China.
Natural language processing (NLP) technologies allows humans…
Healthcare Natural Language Processing (NLP) Market by Top Manufacturers - NLP T …
Natural language processing (NLP) technologies allows humans to interact with computers through conventional languages such as English and German instead of artificial languages such as Java and C++. These technologies use a computer to process, analyze, and generate computational linguistics on the basis of human languages.
The global Healthcare Natural Language Processing (NLP) Market is explained in detail in this report, starting with a basic overview, which includes definitions and major…
Healthcare Natural Language Processing (NLP) Market Is Booming Worldwide with NL …
HTF MI recently introduced Global Healthcare Natural Language Processing (NLP) Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2023. The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence and some of the key players from the complete study are NLP Technologies, NEC, Apple, Microsoft, Dolbey, IBM, NetBase,…
