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Status : Published Published On : Sep, 2024 Report Code : VRICT5139 Industry : ICT & Media Available Format : Page : 190
2025
2030

Global Natural Language Processing (NLP) Market – Analysis and Forecast (2025-2030)

Industry Insights by Type (Statistical, Rule-Based, Hybrid), by Deployment Type ( Public Cloud, Private Cloud, Hybrid Cloud ), by Solution (Auto Coding, Text Analytics, Speech Analytics, Interactive Voice Response [IVR], Pattern & Image Recognition, Optical Character Recognition) by services (Managed, Professional) by Application (Information Extraction, Question Answering, Machine Translation, Report Generation, Text Processing), by Industry (BFSI, Automotive, Healthcare, Retail, IT & Telecommunication, Others) and by Geography (North America, Europe, Asia-Pacific, Middle East, and Rest of the World)

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Industry Overview

The global Natural Language Processing (NLP) Market was valued at USD 18.5 billion in 2023, which is expected to reach USD 72.5 billion by 2030, registering a CAGR of 21.6% during the forecast period. Increasing focus on customer experience, the need for managing large volumes of data, growing demand in contact centers, and the rising shift in businesses toward automation, propelling the growth of the market.

Natural Language Processing (NLP) Market Highlights

Natural Language Processing (NLP) Market Segmentation

Insight by Type

Based on type, the global natural language processing (NLP) market is categorized into statistical, rule-based, and hybrid, wherein the statistical category held the largest share in the market in 2020, owing to the advantages of statistical NLP solutions over traditional rule-based NLP solutions.

Insight by Deployment Type

Based on deployment type, the natural language processing (NLP) market is segmented into cloud and on-premises. Among these segments, the cloud category is expected to exhibit the fastest growth during the forecast period. The growth of this segment is attributed to the fact that various organizations have started deploying AI-based technologies for data translation.

Insight by Component

Based on components, the natural language processing (NLP) market is segmented into auto solutions and services. Among the two segments, the solutions segment holds a larger market size during the forecast period. 

Insight by Organization Size

Based on organization size, the natural language processing (NLP) market is segmented into small and medium-sized enterprises and large enterprises.

Insight by Application

Based on application, the natural language processing (NLP) market is segmented into information extraction, question answering, machine translation, automatic summarization, sentiment analysis text processing, and others. Among these segments, the machine translation category held the largest share of the market in 2023, owing to the increasing demand in organizations for solutions that can facilitate the translation of text into multiple languages.

Insight by Industry

Based on industry, the natural language processing (NLP) market is segmented into BFSI, healthcare, retail and e-commerce, manufacturing, media and entertainment, travel and hospitality, it & telecommunication, and others. Among these segments, the BFSI category held the largest share of the market in 2023.

Global Natural Language Processing (NLP) Market Report Coverage

Report Metric

Details

Historical Period

2018 - 2023

Base Year Considered

2024

Forecast Period

2025 - 2030

Market Size in 2024

U.S.D.  18.5 Billion

Revenue Forecast in 2030

U.S.D.  72.5 Billion

Growth Rate

21.6%

Segments Covered in the Report

By Type, By Deployment Type, By Component, By Organization Size, By Application, and By Industry

Report Scope

Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling

Regions Covered in the Report

North America, Europe, Asia-Pacific, Middle East, and Rest of the World

Industry Dynamics

Natural Language Processing (NLP) Market Growth Drivers

The global natural language processing (NLP) market has been driven by several key factors, predominantly Increasing focus on customer experience, the need for managing large volumes of data, growing demand in contact centers, and the rising shift in businesses toward automation.

Rising demand for customer service automation: NLP technology is widely used in chatbots, virtual assistants, and customer service automation systems. Organizations are leveraging NLP to improve customer experience by enabling self-service options, automating responses to common queries, and providing personalized interactions.

Growing adoption of NLP in healthcare: NLP is being utilized in the healthcare sector for various applications, including clinical documentation, medical coding, voice recognition, and analyzing patient data. It helps in extracting relevant information from medical records, enabling better decision-making, and improving healthcare outcomes.

Advancements in machine learning and deep learning: NLP techniques have greatly benefited from advancements in machine learning and deep learning algorithms. These advancements have led to significant improvements in language understanding, sentiment analysis, language translation, and other NLP tasks, driving the adoption of NLP solutions across industries.

Increasing focus on data-driven insights: NLP enables organizations to extract valuable insights from unstructured text data, such as social media posts, customer reviews, and news articles. By analyzing this data, businesses can gain a deeper understanding of customer preferences, market trends, and brand sentiment, aiding in decision-making and strategy formulation.

Natural Language Processing (NLP) Market Restraints

Lack of skilled resources is hindering the growth of the natural language processing (NLP) market, globally.

Natural Language Processing (NLP) Market Opportunities

The need for an efficient human–machine interface is the major key opportunity witnessed in the market, globally.

Recent Developments By the Key Players

Verint  (The CX Automation Company) is  Global expanding its innovation center (GIC) in Bangalore, India, marking a significant milestone in Verint’s commitment to innovation and growth.

Genpact Limited (G) has launched AI Gigafactory to accelerate enterprise-wide AI adoption and scaling

Natural Language Processing (NLP) Market Geography Insight

Geographically, North America has accounted for the largest share in the natural language processing (NLP) market, globally and is predicted to grow significantly during the forecast period. The growth of this market is attributed to the rising demand for enhanced customer experience, the increasing number of investments related to the integration of machine learning and NLP, rapid technological advancements, and the continuous focus of the government on spending on AI-based technologies in the region.

Natural Language Processing (NLP) Market Competitive Insight

Some of the key players operating in the global natural language processing (NLP) market are :

  • 3M Company
  • Apple Inc.
  • Microsoft Corporation
  • Verint Systems Inc.
  • AWS Inc
  • Dolbey Systems Inc.
  • Genpact Ltd.
  • Alphabet Inc.
  • SAS Institute Inc.
  • International Business Machines (IBM) Corporation
  • Hewlett Packard Enterprise (HPE) Company

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from industry experts. The key profiles approached within the industry include, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behavior.

The Natural Language Processing (NLP) Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

Segments Covered in the Report

  • By Type
    • Statistical
    • Rule-Based
    • Hybrid
  • By Deployment Type
    • Cloud
    • On-Premises
  • By Component
    • Solutions
      • Platform
      • Software Tools
    • Services
      • Managed
      • Professional
        • Consulting
        • Support and Maintenance
  • By Organization Size
    • Small and Medium-Sized Enterprises
    • Large Enterprises
  • By Application
    • Information Extraction
    • Question Answering
    • Machine Translation
    • Automatic Summarization
    • Sentiment Analysis
    • Text Processing
    • Others
  • By Industry
    • Banking, Financial Services, and Insurance (BFSI)
    • Healthcare
    • Retail and E-commerce
    • Manufacturing
    • Media and Entertainment
    • Travel and Hospitality
    • IT & Telecommunication
    • Others

Region Covered in the Report

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World (RoW)
    • Brazil
    • Saudi Arabia
    • South Africa
    • U.A.E.
    • Other Countries

Natural Language Processing (NLP) Market Size

Source: VynZ Research

Natural Language Processing (NLP) Market Analysis

Source: VynZ Research

Frequently Asked Questions

Which component type holds the largest share in the market?

On the basis of component, the solutions segment to hold a larger market size during the forecast period.

Which product type holds the largest share in the market?

Based on type, the statistical category held the largest share of the market in 2023.

What is the growth rate of the global market?

The global natural language processing (NLP) market is registering a CAGR of 20.5% during the forecast period.

Which region holds the largest share in the market?

North America has accounted for the largest share in natural language processing (NLP) market.

Which region offers greater investment opportunities in the near future?

North America offers greater investment opportunities in the near future.

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Research Methodology

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  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle

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