Natural Language Processing (NLP) Market: Global Demand, Trend, Growth, Business Opportunities Analysis and 2014-2024 Industry Forecast Report -By Acumen Research and Consulting

Introduction:

NLP (Natural Language Processing) refers to a field of artificial intelligence (AI) and computer science which revolves around and is concerned towards the interaction between human language and a machine. Natural language processing generally functions as a bridge between machines and human. It improves interaction by analyzing the spoken and written languages and relative patterns associated with it. The main objective behind development of natural language processing is to create a solution which can analyze, understand and generate languages which humans can easily understand. Such solutions are becoming significantly popular for organizations and enterprises which have big data to maintain. The global natural language processing market is a part of artificial intelligence which is capable of manipulating human language and converting it into machine language in the later stage.

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Market Dynamics:

The Global Natural Language Processing Market is in an extremely profitable stage especially for natural language processing software based service providers and solution vendors. This is because of the increasing organizations and business firms working in a large number of domains and diverse verticals across the globe which are rapidly adopting natural language processing solutions for filling communication gap between machines and humans. Rising demand for efficient, improved and enhanced consumer experience around the world is uplifting to encourage end user industries to increase their overall investments on natural language processing services and solutions which in turn is a key factor fueling the growth of global natural language processing market over the forecast period. Moreover, rising adoption of natural language programming in customer care processing organizations as well as reduction in initial and operation costs are considered to be some of the key aspects anticipated to boost the growth of global natural language processing market. In addition, improved insights of consumer’s perception as well as optimized business processes coupled with easy machine to machine technology can be easily derived by using natural processing language.

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Market Classification:

The global natural language processing market can be segmented on the basis of type, deployment model, technology, vertical and region. On the basis of type, global natural language processing market can be segmented into rule based, statistical and hybrid. On the basis of deployment model, the global natural language processing market can be segmented into private cloud, public cloud, and hybrid cloud. On the basis of technology, global natural language processing market can be segmented into optical character recognition, interactive voice response, pattern and image recognition, classification and categorization, auto coding, text analytics, speech analytics, professional services and support & maintenance services. On the basis of vertical, the global natural language processing market can be segmented into banking, financial services, insurance, manufacturing, healthcare & life sciences, retail & consumer goods, research & education, high tech & electronics and media & entertainment. By region, the global natural language processing market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.

Market Participants:

Major players operating in the global natural language processing market are focusing on some key market strategies such as mergers and acquisitions to keep hold in the ever competitive market. Moreover, they are concentrating on collaborating with local players to increase their market reach as well as strengthen their goodwill in the global market. Some of the major players in the global natural language processing market include Google Inc., Apple Inc., IBM Corp., Hewlett-Packard Co, 3M Co., Microsoft Corp., Netbase Solutions Inc., SAS Institute Inc. and Dolby System, Inc. among others.

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Market Segmentation

Market by Type

Rule based

Statistical

Hybrid

Market by Deployment Model

Public cloud

Private cloud

Hybrid cloud

Market by Technology

Optical character recognition

Interactive voice response

Pattern and image recognition

Classification and categorization

Auto coding

Text analytics

Speech analytics

Professional services

Support & maintenance services

Market by Vertical

Banking, financial services and insurance (BFSI)

Manufacturing

Healthcare & life sciences

Retail & consumer goods

Research & education

High tech & electronics

Media & entertainment

Market by Geography

North America

o US

o Canada

o Mexico

Europe

o UK

o Germany

o France

o Rest of Europe

Asia-Pacific

o China

o Japan

o India

o Philippines

o Rest of Asia-Pacific

Latin America

o Brazil

o Chile

o Rest of Latin America

Middle East and Africa (MEA)

o South Africa

o Saudi Arabia

o Rest of MEA

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Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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