Natural Language Processing Market: By Component, By Deployment Mode, By Organization Size By Type, By Industry Vertical and Geography
Natural Language Processing (NLP) Market size was valued at US$ 14,376.3 million in 2023 and is poised to grow at a significant CAGR of 26.4% from 2024-2030. The NLP is a branch of artificial intelligence (AI) that uses voice-enabled artificial intelligence (AI) and conversational intelligence technologies to enable computers to read the human language, derive meaning, and make communication more convenient.
Furthermore, NLP capabilities like autocorrect and autocomplete tools help analyze personal language patterns and identify the most relevant suggestions for particular users or the public. Furthermore, natural language processing automates much of the physical process, providing analytics and business insight for development, and aids in process ordering and organization.
In addition, growing data and increasing complexities in large businesses would open numerous opportunities for the natural language processing market. Based on deployment mode the Natural Language Processing (NLP) market is segmented in to On-Premise and Cloud. Cloud segmentation is anticipated to grow at significant CAGR over the forecast years owing to large data applications, cloud technology is scalable and adaptable.
Furthermore, many AI and machine learning initiatives are classified as big data. The market's major manufacturers are launching several initiatives to integrate cloud-based solutions. Providing this engine will leverage the company's AI and cognitive capabilities, such as natural language processing and machine learning. SAS, for example, is working on projects to integrate natural language interaction with its cloud-based analytics tools. Users will be able to communicate with the software using this cloud-based software. A cloud-based platform allows users to consume and analyze multilingual material, user-generated content, and other online content. A hybrid deployment is expected to see moderate acceptance during the anticipated timeframe. Factors such as the increasing use of smart devices to facilitate innovative environments fuel market growth.
Furthermore, rising demand for advanced text analytics and increased internet usage and linked devices are propelling the natural language processing market forward. Furthermore, the growing adoption of NLP-based applications across industries boosts customer experience. In addition, rising healthcare investment is likely to generate profitable development possibilities for the industry.
In November 2021, IBM launched new natural language processing (NLP) enhancements planned for IBM Watson Discovery, to assist business users in industries such as financial services, insurance, and legal services in improving customer care and speeding up business processes by uncovering insights and synthesizing information from complex documents.
Study Period
2024-2030Base Year
2023CAGR
26.4%Largest Market
Asia PacificFastest Growing Market
North America
Understanding the client's input or demand is becoming increasingly challenging as the number of channels via which the clients submit their requirements or feedback grows. Companies require a platform to manage business operations to comprehend these requirements linked with products or services. As a result, they are continually searching for ways to improve their customer experience (CX) skills. AI and NLP integration will assist in assessing client inquiries or comments and converting them into personalized answers. This technology integration can generate recommendations based on information history, existing consumer data, or the client's quick answers. The usage of sophisticated technology allows for a smooth connection between the client and the system. The systems can preserve these communications for future reference. AI and NLP can provide unique and personalized recommendations that are more relevant to consumers' inquiries. Because it may be integrated with more than one channel, the platform can tackle numerous channel management issues. This also leads to more interactions between the client and the organization.
The Natural Language Processing (NLP) market in North America is likely to hold the highest revenue share of in 2021 and same trend is expected over the forecast period due to the region's growth may be attributed to developments in cloud computing platforms and the systems' affordability. The growth of AI in the United States, due to cheaper software development tools and larger datasets, is expected to enhance demand for NLP in North America. A research study with the increased use of NLP solutions in IT firms, prominent players in the United States are expanding new releases and enhancing their product portfolio to improve sales.
For instance, in 2019. Inference Solutions, a company based in the United States, has launched Studio 6.0, which integrates natural language processing (NLP) and conversational artificial intelligence (AI) technologies from Google and IBM to simplify complex interactive voice response menus and speech-enabled, directed dialogue systems for existing businesses.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 14,376.3 million |
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Market CAGR |
26.4% |
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By Component |
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By Type |
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By End User |
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The natural language processing market size was valued at US$ 14,376.3 million in 2023 and is projected to grow at a CAGR of 26.4% from 2024 to 2030.
The growing need for enhanced customer experience is one of the key drivers of market growth.
The natural language processing market key players are IBM Corporation, Dolbey Systems Inc., Oracle Corporation, Apple Inc., 3M Co., Netbase Solutions Inc.
| 1.Executive Summary |
| 2.Global Natural Language Processing Market Introduction |
| 2.1.Global Natural Language Processing Market - Taxonomy |
| 2.2.Global Natural Language Processing Market - Definitions |
| 2.2.1.Component |
| 2.2.2.Type |
| 2.2.3.End User |
| 2.2.4.Region |
| 3.Global Natural Language Processing Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Natural Language Processing Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Natural Language Processing Market By Component, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Solution |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Services |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6.Global Natural Language Processing Market By Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Rule Based Nlp |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Statistical Nlp |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Hybrid Nlp |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7.Global Natural Language Processing Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. IT and Telecommunication |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Retail And Ecommerce |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. BFSI |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Healthcare |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Education |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Media And Entertainment |
| 7.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.6.3. Market Opportunity Analysis |
| 7.7. Others |
| 7.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.7.3. Market Opportunity Analysis |
| 8.Global Natural Language Processing Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Natural Language Processing Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Component Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Solution |
| 9.1.2.Services |
| 9.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Rule Based Nlp |
| 9.2.2.Statistical Nlp |
| 9.2.3.Hybrid Nlp |
| 9.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.IT and Telecommunication |
| 9.3.2.Retail And Ecommerce |
| 9.3.3.BFSI |
| 9.3.4.Healthcare |
| 9.3.5.Education |
| 9.3.6.Media And Entertainment |
| 9.3.7.Others |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Natural Language Processing Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Component Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Solution |
| 10.1.2.Services |
| 10.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Rule Based Nlp |
| 10.2.2.Statistical Nlp |
| 10.2.3.Hybrid Nlp |
| 10.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.IT and Telecommunication |
| 10.3.2.Retail And Ecommerce |
| 10.3.3.BFSI |
| 10.3.4.Healthcare |
| 10.3.5.Education |
| 10.3.6.Media And Entertainment |
| 10.3.7.Others |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 11.Asia Pacific (APAC) Natural Language Processing Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Component Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Solution |
| 11.1.2.Services |
| 11.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Rule Based Nlp |
| 11.2.2.Statistical Nlp |
| 11.2.3.Hybrid Nlp |
| 11.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.IT and Telecommunication |
| 11.3.2.Retail And Ecommerce |
| 11.3.3.BFSI |
| 11.3.4.Healthcare |
| 11.3.5.Education |
| 11.3.6.Media And Entertainment |
| 11.3.7.Others |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Natural Language Processing Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Component Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Solution |
| 12.1.2.Services |
| 12.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Rule Based Nlp |
| 12.2.2.Statistical Nlp |
| 12.2.3.Hybrid Nlp |
| 12.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.IT and Telecommunication |
| 12.3.2.Retail And Ecommerce |
| 12.3.3.BFSI |
| 12.3.4.Healthcare |
| 12.3.5.Education |
| 12.3.6.Media And Entertainment |
| 12.3.7.Others |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Natural Language Processing Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Component Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Solution |
| 13.1.2.Services |
| 13.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Rule Based Nlp |
| 13.2.2.Statistical Nlp |
| 13.2.3.Hybrid Nlp |
| 13.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.IT and Telecommunication |
| 13.3.2.Retail And Ecommerce |
| 13.3.3.BFSI |
| 13.3.4.Healthcare |
| 13.3.5.Education |
| 13.3.6.Media And Entertainment |
| 13.3.7.Others |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.IBM Corporation |
| 14.2.2.Dolbey Systems Inc. |
| 14.2.3.Oracle Corporation |
| 14.2.4.Apple Inc. |
| 14.2.5.3M Co. |
| 14.2.6.Netbase Solutions Inc. |
| 14.2.7.Hewlett -Packard Inc. |
| 14.2.8.Microsoft Corporation |
| 14.2.9.SAS Institute Inc. |
| 14.2.10.Verint Systems Inc. |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of experience in the field of market research. Sravani is adept at creating competitive evaluations, precise market estimations, and market projections, emphasizing the food and beverage and information and communication technology (ICT) industries. Her areas of competence are identifying important players, projecting market trends, and assessing the potential for industry growth. She applies a strong analytical approach to provide precise market estimates and thorough industry analysis, empowering organizations to make data-driven decisions. Sravani's estimating and forecasting abilities are essential for businesses to take advantage of new opportunities and effectively manage dynamic market environments.
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