The global natural language processing (NLP) market is expected to grow at a CAGR of 20.5% during the forecast period with its market size predicted to reach USD 25.0 billion by 2027. Globally, natural language processing (NLP) industry players are leveraging market growth through product launches, partnerships, mergers & acquisitions, and geographic expansion.
Machine Translation category held largest share in the natural language processing (NLP) market in 2020
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, machine translation category held largest share in the market in 2020, owing to the increasing demand in organizations for solutions that can facilitate translation of text into multiple languages.
Browse Market Insight and In-depth TOC on "Global Natural Language Processing (NLP) Market – Analysis and Forecast (2021-2027)"
Based on industry, the natural language processing (NLP) market is segmented into BFSI, healthcare, retail and ecommerce, manufacturing, media and entertainment, travel and hospitality, it & telecommunication, and others. Among these segments, BFSI category held largest share in the market in 2020.
Geographically, North America has accounted for the largest share in natural language processing (NLP) market, globally and is predicted to grow significantly during the forecast period. The growth of this market is attributed towards the rising demand for enhanced customer experience, increasing number of investments related to integration of machine learning and NLP, rapid technological advancements, and continuous focus of government on spending in AI-based technologies in the region.
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, and Hewlett Packard Enterprise (HPE) Company.
Key Takeaway from the Report:
The Report Offers:
Benefits of Report Purchase from VynZ:
We provide accurate data and in-depth analysis with all-inclusive coverage.
Robust Research Methodology
Robust research methodology and data triangulation to ensure high quality report.
24*7 analyst support – Pre and post purchase of the report as well as during the project tenure.
24*7 sales support – Hassle free delivery of the report and quick response and support by sales team.
20% post purchase free customization to meet your requirements.
We claim full customer satisfaction as our core values lie in building long term relationship.
High level of data security and confidentiality of your information.
The report provides the market value for the base year 2020 and a yearly forecast till 2027 in terms of revenue (USD Million). The report segments the global natural language processing (NLP) market on the basis of type, deployment type, component, organization size, application, industry and region.
Global Natural Language Processing (NLP) Market Coverage
Type Insight and Forecast 2015-2027
Deployment Type Insight and Forecast 2015-2027
Component Insight and Forecast 2015-2027
Organization Size Insight and Forecast 2015-2027
Application Insight and Forecast 2015-2027
Industry Insight and Forecast 2015-2027
Natural Language Processing (NLP) Market by Region
Rest of the World (RoW)