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Global Natural Language Processing Industry 2021 Share, Size, Trend, Market Analysis and Forecast to 2030

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Global Natural Language Processing Industry 2021 Share, Size, Trend, Market Analysis and Forecast to 2030

Natural Language Processing Industry 2021

The Natural Language Processing Industry is a part of artificial intelligence that aids the computers to understand, interpret and manipulate human language. The technology includes many disciplines, including computer science and computational linguistics, in its pursuit to bridge the gap between computer understanding and human communication. The NLP helps computers to communicate with humans in their own language along with other language-related tasks. One such example is the implementation of NLP through which it helps computers to read the text, hear speech and then interpret it. Some advanced applications includes the measurement of sentiments and to determine which parts of the message is important.

In terms of revenue, the Natural Language Processing Industry stood at US$ 12,749 Mn in 2018, and is anticipated to reach US$ 42,591 Mn by 2027, expanding at a CAGR of 18.4% during the forecast period. The detailed research study provides qualitative and quantitative analysis of Natural Language Processing Industry.


Access Full Report Details and Order this Premium Report @ https://www.absolutemarketsinsights.com/reports/Natural-Language-Processing-Market-2019-2027-331

Major Key Players:

Key players operating in the global Natural Language Processing Industry are 3M Company, Abe AI Inc., Amazon Web Services, Inc., Apple Inc., Aylien Ltd., Cortical.io AG, DigitalGenius, Inc., Dolbey Systems, Inc., Expert System S.p.A., ExplosionAI GmbH, Flamingo Ai, Google LLC, Hewlett Packard Enterprise Co., IBM Corporation, Lexalytics, Inc., Microsoft Corporation, MobVoi Inc. (HK SMARTMV LIMITED), MonkeyLearn Inc., NetBase Solutions, Inc., SAS Institute Inc., SoundHound, Inc., TextRazor Ltd., Verint Systems Inc. amongst others.

Key Findings of the Report:

In terms of revenue, the North American region accounted for the highest market share in 2018 and is anticipated to witness a sustainable CAGR over the forecast period

Statistical type among the different types of NLP model accounted for a significant market share in 2018 and is expected to grow at a CAGR of 15.9% over the forecast years.

On-premise deployment hold the largest market share among deployment models that are offered by various software companies. Although the companies are adopting new technologies, the data security still remains a concern.

Growing demand for enhanced customer experience is one of the major factors behind the growth of global Natural Language Processing Industry.

Market Segmentation

By Type

Rule Based

Statistical

Hybrid

By Deployment Model

On-Premise

Cloud

By Technology

Interactive Voice Response (IVR) 

Optical Character Recognition (OCR) 

Pattern and Image Recognition 

Autocoding 

Classification and Categorization 

Text Analytics 

Speech Analytics

By Service

Managed Service

Professional Service

By Application

Information Extraction

Machine Translation

Report Generation

Others

By End User

Banking, Financial Services and Insurance (BFSI)

IT and Telecommunication

Government

Retail & Consumer Goods

Healthcare

Education

Automotive

Media and Entertainment

Energy and Utilities

Others

By Region

North America

U.S.

Canada

Mexico

Europe


Contact us:

Shreyas Tanna

Phone: +91-740-024-2424

Absolute Markets Insights

Email: sales@absolutemarketsinsights.com

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