Natural Language Processing Market Research, Size, Share, Trends, Growth, Revenue, Analysis and Forecast by 2027
According to the latest report by IMARC Group, titled "Global Natural Language Processing (NLP) Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027", the global natural language processing (NLP) market reached a value of US$ 14.27 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 61.03 Billion by 2027 exhibiting a CAGR of 26.60% during 2022-2027.
Natural
language processing (NLP) represents a branch of artificial intelligence (AI)
that allows computers to understand, analyze, and interpret human language,
both spoken and written. It enables users to have human-like conversations with
computers directly by using AI and algorithms that assist computers in
accurately recognizing human communication. Natural language processing also
aids software programs in translating text from one language to another,
summarizing large volumes of textual data in real-time, performing speech
recognition, etc. It helps organizations in improving customer experience,
streamlining business operations, simplifying mission-critical processes, etc.
As a result, NLP is widely utilized across various industries, such as
healthcare, education, telecommunications, etc.
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Report
Metric |
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Historical:
2016-2021 |
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Base Year:
2021 |
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Forecast
Year: 2022-2027 |
Natural Language Processing (NLP) Market Trends and Drivers:
The growing
adoption of NLP solutions by numerous enterprises to enhance their internal and
external operations is primarily driving the natural language processing (NLP)
market. Besides this, the increasing digitization of data and the expanding
usage of internet services and connected devices are further stimulating the
market growth.
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Moreover,
the escalating demand for advanced data analytics and continuous advancements
in the fields of image analysis and speech recognition are acting as
significant growth-inducing factors. In addition to this, the inflating
utilization of text analytics and NLP technologies across several social media
platforms to monitor or moderate the published content is also bolstering the
global market.
Furthermore, the elevating sales of smart devices and the rising popularity of voice-based solutions are anticipated to catalyze the natural language processing (NLP) market in the coming years.
Note: We are
regularly tracking the direct effect of COVID-19 on the market, along with the
indirect influence of associated industries. These observations will be
integrated into the report.
Global Natural
Language Processing (NLP) Market 2022-2027 Analysis and Segmentation:
Competitive
Landscape:
The
competitive landscape of the market has been studied in the report with the
detailed profiles of the key players operating in the market.
3M Company,
Apple Inc., FUJIFILM Holdings Corporation, Google LLC (Alphabet Inc.), Intel
Corporation, International Business Machines Corporation, Meta Platforms Inc.,
Microsoft Corporation, NetBase Solutions Inc., Nokia Corporation, SAS Institute
Inc. and Verint Systems.
The report has
segmented the market on the basis of region, type, technology, deployment
mode, organization size and end user.
Breakup by Type:
· Hardware
· Software
· Services
Breakup by
Technology:
· Interactive
Voice Response
· Optical
Character Recognition
· Text
Analytics
· Speech
Analytics
· Classification
and Categorization
· Pattern
and Image Recognition
· Others
Breakup by
Deployment Mode:
· On-premises
· Cloud-based
Breakup by
Organization Size:
· Large
Enterprises
· Small
and Medium-sized Enterprises
Breakup by End User:
· Education
· BFSI
· Healthcare
· IT
and Telecom
· Manufacturing
and Retail
· Media
and Entertainment
· Others
Breakup by
Region:
- North America: (United States,
Canada)
- Asia Pacific: (China,
Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United
Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico,
Others)
- Middle East and Africa
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latest primary and secondary data (2022-2027) with Cost Module, Business
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Key
highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success
Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the
Competitive Landscape
If you need
specific information that is not currently within the scope of the report, we
can provide it to you as a part of the customization.
About Us:
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is a leading market research company that offers management strategy and market
research worldwide. We partner with clients in all sectors and regions to
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challenges, and transform their businesses.
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information products include major market, scientific, economic and
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and high technology organizations. Market forecasts and industry analysis for
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and tourism, nanotechnology and novel processing methods are at the top of the
company’s expertise.
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