Press release
Global Natural Language Processing Market Expected To Reach At A CAGR Of 16.11 % Over The Forecast Period 2015 - 2019
Market Research Report
Natural language processing is a computer application that can understand human language. It is a part of AI. It is a computerized technique in which human communication is analyzed and interpreted based on a set of theories and technologies by the computer. It is both based on text and speech provided to the computer. Currently, NLP approaches are based on machine learning that uses patterns for understanding own programs. The most common NLP in all the software packages includes:
Sentence segmentation, part-of-speech tagging, and parsing
Deep analytics
Named entity extraction
Co-reference resolution
The goal of NLP is to reduce the time for understanding computer languages such as Java, C, C++, and Ruby.
The development of NLP solutions is difficult because computers need humans to speak in a programming language that needs to be precise, unambiguous, and highly structured with less amount of enunciated voice commands. However, human speech cannot be precise, and it is often ambiguous and depend on variables that include slang, regional dialects, and social context.
Technavio's analysts forecast the global NLP market to grow at a CAGR of 16.11 % over the period 2014-2019.
Covered in this report
This report covers the present scenario and growth prospects of the global NLP market for 2015-2019. To calculate the market size, the report considers revenue generated from the sales of NLP solutions in the global market from the following segments:
Recognition market: This includes the revenue generated from speech recognition, OCR , and IVR systems market
Analytics market: This includes the revenue generated from text and speech analytics
Operational market: This includes the revenue generated from categorization and auto-coding process
This report also segments the market according to the end-users, deployment model, and by product.
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Key regions
APAC
Europe
Latin America
MEA
North America
Key vendors
3M
Apple
Microsoft
Other prominent vendors
A3logics
AlchemyAPI
Apixio
Aylien
Dolbey Systems
Fluxifi
HP
IBM
Linguamatics
Key market driver
Increase in use of NLP in healthcare industry
For a full, detailed list, view our report
Key market challenge
Inability to suppress ambient noise
For a full, detailed list, view our report
Key market trend
Growing use of text analytics in healthcare industry
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2019 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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