Natural Language Processing Market Share, Growth, Size, Trends, Regional Overview, Leading Company Analysis and Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for Natural Language Processing Market for 2022 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2022- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2022, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2022. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2022. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2022. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2022 till March 2022 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Natural Language Processing Market products.

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Kenneth Research, in its repository of market research reports, have recently added a report on Natural Language Processing Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022 2030. The XYZ is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide.

According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.

Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.

The Global Natural Language Processing Market was valued at USD 7.86 billion in 2016 and is projected to reach USD 30.48 billion by 2025, growing at a CAGR of 16.25% from 2017 to 2025.

Natural language processing (NLP) is a field of computer science, artificial intelligence and computational linguistics concerned with the interactions between computers and human languages. Recent advances in this area include voice recognition software, human language translation, information retrieval and artificial intelligence, automatic summarization, text classification, sentiment analysis. NLP delivers several functions including – complex search capabilities, eliminate ineffective results, contextual understanding, and provides better results.

The Final Report will cover the impact analysis of COVID-19 on this industry:

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Sample Infographics:

Market Dynamics:
1. Market Drivers
1.1 Emerging options in application areas
1.2 Rising investments in speech solutions
1.3 Increasing demand for enhanced customer experience
1.4 Increasing adoption of NLP by healthcare industry
1.5 Emerging machine to machine technology
1.6 Growing usage of smart devices
1.7 Rapid data generation
2. Market Restraints
2.1 Need for advanced predictive technologies
2.2 Bridging the gap between man and machine
2.3 Stringent regulations
2.4 Poor customer adoption trends

Market Segmentation:
The Global Natural Language Processing Market is segmented on the technology, type, deployment model, application, vertical, and region.

1. Technology:
1.1 Pattern and Image Recognition
1.2 Interactive Voice Response
1.3 Optical Character Recognition
1.4 Text Analytics
1.5 Speech Analytics
1.6 Auto Coding
1.7 Professional Services
1.8 Support and Maintenance Services
1.9 Classification and Categorization

2. By Type:
2.1 Statistical NLP
2.2 Rule Based NLP
2.3 Hybrid NLP

3. By Deployment Mode:
3.1 Private Cloud
3.2 Public Cloud
3.3 Hybrid Cloud

4. By Application:
4.1 Information extraction
4.2 Machine translation
4.3 Question answering
4.4 Report generation
4.5 Others

5. By Vertical:
5.1 Healthcare
5.2 Banking, Financial Services, and Insurance (BFSI)
5.3 Retail and Consumer Goods
5.4 Research and Education
5.5 High tech and Electronics
5.6 Manufacturing
5.7 Media and Entertainment
5.8 Others

6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. IBM Corporation
2. Hewlett-Packard Enterprise Company
3. Microsoft Corporation
4. Apple Incorporation
5. Dolbey Systems Inc.
6. Google
7. Netbase Solutions
8. SAS Instituite, Inc.
9. Verint System
10. 3M Company
11. NetBase Solution Inc.

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Natural Language Processing Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.

To know more about the Research Methodology of Verified Market Intelligence and other aspects of the research study, kindly get in touch with our sales team

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