Natural Langauge Processing Market: Global Industry Research Report 2020-2028

Natural Langauge Processing Market: COVID-19 Impact and Global Analysis Forecast to 2028

Published Date: May 2021

No. of Pages: 207

Status: Upcoming

Report Code: EMR100088

NLP also known as Natural Language Processing denotes to a specialized field of artificial intelligence also abbreviated as AI as well as the computer science that revolves around and is mainly concerned related to the interaction across a computer machine and the human language. Natural language processing basically acts as a bridge between human and machines. Natural language processing enhances the overall interaction by analyzing the written and spoken languages and the relative patterns attributed with it. The basic agenda behind the overall development of the natural language processing is to make a feasible solution that can understand, analyze and generate the languages that humans can easily understand.

The global natural language processing market is in a crucially profitable position mainly for the natural language processing software based solution vendors and service providers. This is further attributed to the fact that increasing number of organizations and business institutions that are working in a relatively larger number of domains and distinct verticals around the world and are increasingly adopting natural language processing solutions for filling the communication gap across humans and machines. Increasing demand for the improved, efficient and enhanced consumer experience across the world is further uplifting to encourage the end use industry verticals to increase their total investments on natural language processing solutions and services which in turn is a major aspect fueling the growth of the market during the forecast period.

The global natural language processing market can be categorized based on deployment model, type, vertical, technology and region. Based on type, global natural language processing market can be categorized into statistical, rule based and hybrid. Based on deployment model, the global natural language processing market can be categorized into private cloud, public cloud and hybrid cloud. Based on technology, global natural language processing market can be categorized into optical character recognition, interactive voice response, auto coding, pattern and image recognition, categorization, classification speech analytics, text analytics, support & maintenance services and professional services. Based on vertical, the global natural language processing market can be categorized into financial services, banking, manufacturing, insurance, retail & consumer goods, healthcare & life sciences, high tech & electronics, research & education and media & entertainment. By region, the global natural language processing market can be categorized into North America, Latin America, Europe, Middle East & Africa and Asia Pacific. The robust demand especially in the Asia Pacific region is predictable to be one of the key driving factors for the overall growth of the global market. furthermore, China is further projected to account for the highest share in the global market and is expected to maintain its lead in the overall demand during the forecast period. This can be attributed to rapid industrialization and rising urbanization during the past few years. The markets in various other developing economies such as Poland, Brazil, Russia, Argentina, Indonesia, New Zealand, Korea and India among others are also predictable to observer a rapid growth throughout the forecast period. In adding to this, increasing per capita disposable income and surge in the global economy is also another key factor which is expected to bring impetus in the growth of the

Key players operating in the global market are focused on some of the major market strategies such as partnerships, mergers, collaborations and acquisitions in order to keep hold in the ever competitive global market. in addition, they are focusing on gaining hold on the local players to strengthen their goodwill as well as to enhance their market reach in the global market. Some of the major players in the global natural language processing market include Apple Inc., Hewlett-Packard Co, Google Inc., IBM Corp., Microsoft Corp., 3M Co., SAS Institute Inc., Netbase Solutions Inc. and Dolby System, Inc. among others.

The global natural language processing market can be categorized

Based on type:
• Statistical
• Rule based
• Hybrid

Based on deployment model
• Private cloud
• Public cloud
• Hybrid cloud

Based on technology
• Optical character recognition
• interactive voice response
• Auto coding
• Pattern and image recognition
• Categorization
• Classification speech analytics
• Text analytics
• Support & maintenance services
• Professional services

On the basis of vertical
• Financial services
• Banking
• Manufacturing
• Insurance
• Retail & consumer goods
• Healthcare & life sciences
• High tech & electronics,
• Research & education
• Media & entertainment

Based on region
• North america
• Latin america
• europe
• Middle east & africa
Asia pacif

The Leading Key Players in Natural Langauge Processing Market

Apple Inc.
Hewlett-Packard Co
Google Inc.
IBM Corp.
Microsoft Corp.
3M Co.
SAS Institute Inc.
Netbase Solutions Inc.
Dolby System Inc.,