Natural Language Processing (NLP) Market Trends, Drivers, Challenges, and Competitive Landscape till 2027

The report covers the forecast and analysis of the natural language processing (NLP) market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2027 based on revenue (USD Million). The study includes drivers and restraints of the natural language processing (NLP)market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the natural language processing (NLP)market on a global level.

In order to give the users of this report a comprehensive view of the armored cable market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product & service launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.

The study provides a decisive view of the natural language processing (NLP) market by segmenting the market based on type, deployment model, application, technology, end-user, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2027. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The escalating necessity for improving consumer experience worldwide is projected to prompt the end-users to swell their expenditure on natural language processing activities. This, in turn, is likely to expedite the growth of the natural language processing (NLP) industry over the forecast timespan. Better customer perception insights, improved business methods, and easy machine to machine interaction can be derived through the protuberant utilization of natural processing language. Apart from this, the growing acceptance of natural language processing across numerous sectors will push the expansion of the industry over the forecast timeline. Additionally, the escalating use of AI technology in defense, healthcare, transport, public safety, and human services will further embellish the market surge. NLP is also used in investigating criminal activities and provide the authorities insights into the policy-making decisions. Nonetheless, the fewer rates of adoption and medical error risk can hinder the market growth during the forecast period.

Based on the type, the natural language processing (NLP) industry is divided into Rule-based, Hybrid, and Statistical. On the basis of service, the market is classified into Managed Service and Professional Service. On the basis of deployment model, the industry is divided into On-Premise and Cloud. Application-wise, the market is segmented into Information Extraction, Report Generation, and Machine Translation. In terms of technology, the market is divided into Interactive Voice Response (IVR), Autocoding, Optical Character Recognition (OCR), Speech Analytics, Pattern & Image Recognition, Classification & Categorization, and Text Analytics. On the basis of end-user, the industry is divided into Government, Energy & Utilities, Automotive, BFSI (Banking, Financial Services and Insurance), IT & Telecommunication, Healthcare, Education, Retail & Consumer Goods, and Media & Entertainment.

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The key players included in this market are [[24]7.ai, Inc., 3M, Abe AI Inc., Amazon Web Services, Inc., Apple Inc., Aylien Ltd., Cortical.io, DigitalGenius, Dolbey, Expert System S.p.A., Explosion AI (spaCy), Flamingo.ai, Google , Hewlett Packard Enterprise Development LP, HK SMARTMV LIMITED, IBM , Lexalytics, Microsoft , MonkeyLearn Inc., NetBase Solutions, Inc., SAS Institute, Inc., SoundHound Inc., TextRazor Ltd., and Verint.

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