Natural Language Processing NLP Market Overview
Growing demand for improved customer experience, increasing use of smart devices, rising number of choices in application areas are likely to drive the growth of natural language processing market. In addition, growing investments in the healthcare industry, rising deployment of the cloud-based and web business applications along with growing machine-to-machine technologies are further fuelling the growth of natural language processing market.
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Demand for natural language processing is expected to witness an increase with surging need in professional services across the globe. Natural language processing being an easily deployable cloud solution and cost-effective makes it more preferable for professional services.
Interactive voice response technology is anticipated to take a faster growth pace in natural language processing market owing to shift of business organizations towards improved automation for capturing and processing customer’s voice.
Natural language processing manufacturers are increasingly focusing on e-commerce for improving customer experience with better merchandising as well as higher levels of personalization. Growing adoption of the natural language processing across customer care centers and reducing operational costs are other factors driving the overall natural language processing market. However, high installation costs has been resisting adoption of natural language processing by end-users, which in turn is expected to hinder the overall growth of the market.
Global Natural Language Processing (NLP) Market: Overview
Natural language processing (NLP) is a field of artificial intelligence related to the interaction of human and machine. The Natural language processing (NLP) solution enable communication between human and machine by analyzing the content written and spoken in natural human language and converting it into the machine understandable language. Growing amount of big data has increased the demand for solutions that can provide quick and real-time access to the important data. Natural language processing solution allows machine to perform various operations such as information extraction, language translation, and report generation etc. with higher efficiency.
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Global Natural Language Processing (NLP) Market: Segmentation
Global natural language processing (NLP) market is classified into technology, type, service, application, deployment model, vertical, and region. The global natural language processing (NLP) market can be segmented on the basis of technology type which includesauto coding, text analytics, optical character recognition (OCR), interactive voice response, pattern & image recognition, and speech analytics.On the basis of type the market can be segmented into rule bases natural language processing (NLP), statistical natural language processing (NLP), and hybrid natural language processing (NLP).
Service includes integration service, consulting service, and maintenance service. The global natural language processing (NLP) is segmented on the basis of deployment model which includes on-premise and on-demand. Vertical wise, the global natural language processing (NLP) market is segmented into healthcare sector, public sector, retail sector, media & entertainment, manufacturing and other sector.Region wise, global natural language processing (NLP) market is segmented into North America, Latin America, Western Europe, Eastern Europe, Japan, Asia pacific (APEJ), and Middle East and Africa (MEA).
Global Natural Language Processing (NLP) Market: Region-wise Outlook
The global natural language processing (NLP) market is expected to witness a considerable growth in CAGR during the forecast period from 2015 to 2025. Regions such as North America, Western Europe and APEJ is expected to create huge growth opportunities for key players operating in the natural language processing (NLP) Market.
Global Natural Language Processing (NLP) Market: Drivers
Increased adoption rate of natural language processing (NLP) solutions across vertical is driving the growth of the natural language processing market. In addition, growing demand for M2M translation and increasing application areas are expected to fuel the global natural language processing market growth.
Global Natural Language Processing (NLP) Market: Restraints
Certain government rules and regulations and low adoption of natural language processing solutions across end-user sectors in emerging regions are some of the factors that are hindering the growth of natural language processing (NLP) market.
Global Natural Language Processing (NLP) Market: Competitive Landscape
Key players in the global natural language processing (NLP) market focus on introducing advanced solutions and services in order to enhance customer experience and outperform competitors. For example, IBM unveiled Watson Analytics – a cloud based natural language service in 2014.
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Global Natural Language Processing (NLP) Market: Key Players
Some of the major players identified in the global natural language processing (NLP) market are IBM Corporation, 3M Co., Hewlett-Packard Co., Apple Inc., Oracle Corporation, Microsoft Corporation, Dolbey Systems Inc., SAS Institute Inc., Netbase Solutions Inc., and Verint Systems Inc. etc.
The report covers exhaustive analysis on:
- Natural Language Processing (NLP) Market Segments
- Natural Language Processing (NLP) Market Dynamics
- Historical Actual Market Size, 2012 – 2014
- Natural Language Processing (NLP) Market Size & Forecast 2015 to 2025
- Supply & Demand Value Chain
- Natural Language Processing (NLP) Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
- Natural Language Processing (NLP) Market Drivers and Restraints
Regional analysis for Natural Language Processing (NLP) Market includes
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Natural Language Processing Nlp Market
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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