Natural Language Processing Market by Size, Share, Growth and Forecast

1. Natural Language Processing Market to be $262.4 Billion by 2030 According to a new market research report titled, ‘ ‘Natural Component, Organization Size, Application, S Component, Organization Size, Application, Sector (IT & Telecommunications, BFSI, Retail & ector (IT & Telecommunications, BFSI, Retail & E E- -commerce, and Healthcare & Life Sciences) commerce, and Healthcare & Life Sciences) - - Global Forecast to 2030’, language processing market is projected to reach $262.4 billion by 2030, at a CAGR of 34.4% from 2023 to 2030. Natural Language Processing Market Language Processing Market by by Global Forecast to 2030’, the global natural Natural language processing (NLP) is a form of artificial intelligence (AI) that allows computers to understand human language. NLP offers several benefits for companies across industries, such as enabling non-subject matter experts to find answers to their questions, analyzing data from both structured and unstructured sources, identifying the root causes of business problems, and discovering the most profitable customers and understanding the reasons behind it. Furthermore, it identifies and addresses fraudulent claims and behavior, identifies customer communication patterns and reduces customer complaints, and analyzes and evaluates your competitors’ product offerings. Download Download Free Report Sample Now: Free Report Sample Now: https://www.meticulousresearch.com/download- sample-report/cp_id=5505 The growth of the natural language processing market is driven by the increased use of smart devices and the growing demand for NLP-based applications for customer support and NLP tools in call centers. Moreover, the rapid adoption of cloud-based technologies and increasing applications of NLP in the healthcare sector provide significant opportunities for the players operating in the global natural language processing market. However, the limitations in developing NLP technology restrain the growth of this market to some extent. Additionally, data privacy & security concerns pose challenges to the growth of the natural language processing market. Besides, virtual assistants & chatbots and the growing demand for speech analytics solutions are the key trends observed in the natural language processing market. The global natural language processing market is segmented by component {solutions [optical character recognition solutions, interactive voice response systems, autocoding systems, document analytics solutions, speech analytics solutions, simulation & modeling solutions, customer experience management solutions, digital assistants and chatbots, and other NLP solutions (root cause analysis solutions, spam detection solutions, and data mining solutions)], services (professional services, managed services), organization size (small & medium-sized enterprises, large enterprises), application [robotics & automation, smart cities, smart retail, smart healthcare, e-mail filtering, language translation, sentiment analytics, social media analytics, other NLP applications (market intelligence & targeted advertising, and data extraction], sector [IT & telecommunications, BFSI, retail & e- commerce, healthcare & life sciences, transportation & logistics, government & public sector, media & entertainment, manufacturing, education, food & beverages, and other sectors (oil & gas, and automotive)]}. The study also evaluates industry competitors and analyzes the market at regional and country levels. Based on component, the global natural language processing market is segmented into solutions and services. In 2023, the solutions segment is expected to account for the largest

2. share of the global natural language processing market. The large market share of this segment is attributed to the surge in demand for interactive voice response systems to interact with callers and gather information; rising demand for document analytics solutions for managing a document repository; surge in demand for speech analytics to improve contact center operations; the growing popularity of customer experience management solutions to streamline the customer journey, allowing customers to design, connect, deliver, and manage experiences across diverse channels; and increasing proliferation of digital assistants and chatbots to create conversational experiences for business applications. This segment is also projected to register the highest CAGR during the forecast period. Have Any Query? Speak To Analyst @ Have Any Query? Speak To Analyst @ https://www.meticulousresearch.com/speak-to- analyst/cp_id=5505 Based on organization size, the global natural language processing market is segmented into large enterprises and small and medium-sized enterprises (SMEs). In 2023, the large enterprises segment is expected to account for the larger share of the global natural language processing market. The large market share of this segment is attributed to the growing adoption of NLP solutions by large enterprises to analyze, interpret, and classify a company's raw, unstructured big data collected from different sources like customer reviews, social media listening, and employee forums, and increasing demand for social media analytics and web monitoring solutions in retail & e-commerce sector which allows knowing the customers' insights concerning particular products or services. However, the small & medium-sized enterprises segment is expected to register the highest CAGR during the forecast period. The growth of this segment is driven by the increasing demand for improved operational efficiency in small customer service environments, the surge in demand for automating interactions to reduce the burden on human call center operators, and the growing proliferation of call recording and speech analytics technology in small organizations. Based on sector, the global natural language processing market is segmented into IT & telecommunications, BFSI, retail & e-commerce, healthcare & life sciences, transportation & logistics, government & public sector, media & entertainment, manufacturing, education, food & beverages, and other sectors. In 2023, the IT & telecommunications segment is expected to account for the largest share of the global natural language processing market. The large market share of this segment is attributed to the increasing use of NLP tools by telecom companies to solve typical customer problems in an efficient manner and wherever possible without human intervention, the increasing proliferation of digital assistants and chatbots by IT industries, and the need for NLP solutions by telecom companies for categorizing support requests. However, the healthcare & life sciences segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the increasing need to handle the surge in clinical data, the use of NLP services to identify patients who need improved care, and the growing demand for advanced patient health record systems, managed care, PHM applications, and analytics and reporting.

3. Based on geography, the global natural language processing market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the global natural language processing market. The large share of this market is attributed to the increasing focus on NLP services & solutions developments in North America, the presence of well-established NLP providers such as Microsoft Corporation (U.S.), Oracle Corporation (U.S.), International Business Machine Corporation (U.S.), NVIDIA Corporation (U.S.), Qualcomm Incorporated (U.S.) across the region, the presence of natural language processing startups in the U.S. and Canada, and the use of patient health record systems. Exciting news! We are thrilled to announce an incredible opportunity for you! Exciting news! We are thrilled to announce an incredible opportunity for you! For a limited time only, we are delighted to offer an exclusive flat 30% discount remarkable research reports. It's our way of showing appreciation for your continuous support and commitment to staying informed. This remarkable discount allows you to unlock a wealth of valuable insights and expert analysis at an unbeatable price. Whether you're a business professional, an academic researcher, or an avid learner, this offer is tailor-made to enhance your knowledge and empower your decision-making. 30% discount on all our Quick Buy Quick Buy – – Natural Language Processing Market Natural Language Processing Market- - Global Opportunity Analysis and Industry Forecast (2023 Forecast (2023- -2030), Research 2030), Research Report: Report: https://www.meticulousresearch.com/Checkout/80502962 Global Opportunity Analysis and Industry Furthermore, leading NLP players across the region are putting in efforts to launch AI applications that support NLP capabilities. For instance, in October 2022, International Business Machine Corporation (U.S.) expanded its embeddable AI software portfolio by releasing three new libraries designed to help IBM Ecosystem partners, clients and developers more easily, quickly and cost-effectively build their AI-powered solutions and bring them to market. The AI libraries were developed in IBM Research and designed to provide Independent Software Vendors (ISVs) across industries an easily scalable way to build natural language processing, speech-to-text, and text-to-speech capabilities into applications across any hybrid, multi-cloud environment. Such developments are expected to support the growth of this market. However, Asia-Pacific is projected to register the highest CAGR during the forecast period. The growth of this market is driven by the increasing smartphone usage across the region, government initiatives for implementing NLP solutions & services in countries such as China, Japan, and India, an increase in the use of smart devices and cloud-based solutions and NLP-based applications to enhance customer service, and technological innovations in the region’s healthcare sector. The key players operating in the global natural language processing market are Google LLC (U.S.), Microsoft Corporation (U.S.), Amazon Web Services, Inc. (a subsidiary of Amazon.com, Inc.) (U.S.), Oracle Corporation (U.S.), International Business Machine Corporation (U.S.), NVIDIA Corporation (U.S.), QUALCOMM Incorporated (U.S.), Baidu, Inc. (China), Verint Systems Inc. (U.S.), SAP SE (Germany), INTEL CORPORATION (U.S.), Adobe Inc. (U.S.), Genpact Limited (U.S.), SAS Institute Inc. (U.S.), and NetBase Solutions, Inc. (U.S.)

4. Scope of the Report Scope of the Report Natural Language Processing Natural Language Processing Market, by Component Market, by Component •Solutions oOptical Character Recognition Solutions oInteractive Voice Response Systems oAutocoding Systems oDocument Analytics Solutions oSpeech Analytics Solutions oSimulation & Modeling Solutions oCustomer Experience Management Solutions oDigital Assistants and Chatbots oOther NLP Solutions (Root Cause Analysis Solutions, Spam Detection Solutions, and Data Mining Solutions) •Services oProfessional Services oManaged Services Natural Language Processing Market, by Organization Size Natural Language Processing Market, by Organization Size •Small & Medium-sized Enterprises •Large Enterprises Natural Language Pr Natural Language Processing Market, by Application ocessing Market, by Application •Robotics & Automation •Smart Cities •Smart Retail •Smart Healthcare •E-mail Filtering •Language Translation •Sentiment Analytics •Social Media Analytics

5. •Other NLP Applications (Market Intelligence & Targeted Advertising, and Data Extraction) Natural Language Processing Market, by Sector Natural Language Processing Market, by Sector •IT & Telecommunications •BFSI •Retail & E-commerce •Healthcare & Life Sciences •Transportation & Logistics •Government & Public Sector •Media & Entertainment •Manufacturing •Education •Food & Beverages •Other Sectors (Oil & Gas and Automotive) Natural Language Processing Market, by Geography Natural Language Processing Market, by Geography •North America o oU.S. oCanada •Asia-Pacific o oChina oJapan oIndia oSouth Korea oRest of Asia-Pacific •Europe o oGermany oU.K.

6. oFrance oItaly oSpain oRest of Europe •Latin America o oMexico oBrazil oRest of Latin America •Middle East & Africa o oUAE oIsrael oRest of Middle East & Africa Request For Free Sample Report @ Request For Free Sample Report @ https://www.meticulousresearch.com/request https://www.meticulousresearch.com/request- -sample report/cp_id=5505 report/cp_id=5505 sample- -