DUBLIN--(BUSINESS WIRE)--The "Global Natural Language Processing Market Size, Share - Segmented By Product Type, Deployment Type, Application, Technology, Service, End-user Industry, and Region - Analysis, Growth, Trends, and Forecast (2018-2023)" report has been added to ResearchAndMarkets.com's offering.
The natural language processing market is expected to record a CAGR of over 17.1% during the forecast period of 2018-2023.
The increasing use of NLP in healthcare and call centers, rising demand for advanced text analytics, and growing machine-to-machine technology are the primary factors responsible for the growth of the natural language processing market.
NLP has witnessed significant growth over the past few years, owing to affordable, scalable, and computational power, increase in digitization of data, and merger of NLP with deep learning (DL) and machine learning (ML). NLP has found increasing applications across various end-user industries, thus boosting the market's growth. However, the implementation of stringent government regulations is projected to hinder the market's growth, during the forecast period.
The North American region dominated the natural language processing market, in 2017, with the United States leading the market. The region accounted for the largest market share, due to the presence of a considerable number of natural language processing companies.
The Asia-Pacific segment is anticipated to witness robust growth over the forecast period, due to the rising disposable incomes and increasing use of voice recognition, in numerous industries.
Major Market Developments
- Salesforce.com Inc. added natural language support to its artificial intelligent services, for developers. The company announced that it is focusing on a trio of services, based on natural language understanding and object recognition, as a part of its Einstein portfolio.
- SAS Institute Inc., a leader in the analytics domain, announced plans to make it easy for customers to build artificial intelligence solutions, by leveraging machine learning (ML) and natural language processing software. The company's latest SAS platform includes a new offering, SAS Visual Text Analytics, and significant enhancements to the SAS Visual Data Mining and Machine Learning platforms.
The market leaders, which are profiled in this report:
- IBM Corporation
- 3M Co.
- Apple Inc.
- Dolbey Systems Inc.
- Microsoft Corporation.
- NetBase Solutions Inc.
- SAS Institute Inc.
- Verint Systems Inc.
- Google LLC
- Hewlett-Packard Enterprise Company
- Nuance Communications Inc.
- Veritone Inc.
- Salesforce.com Inc.
- Inbenta Technologies Inc.
Key Topics Covered
2. Research Methodology
3. Executive Summary
4. Market Insights
5. Market Dynamics
6. Global Natural Language Processing Market Segmentation
7. Natural Language Processing Market Companies
8. Natural Language Processing Market Investment Analysis
9. Future of the Global Natural Language Processing Market
For more information about this report visit https://www.researchandmarkets.com/research/n4t28h/global_natural?w=4.