Natural Language Processing Market: Opportunities and Challenges in a Rapidly Evolving Industry

Abstract

The Global Natural Language Processing Market report assesses the historical and current data along with a thorough analysis of the market dynamics. The report also sheds light on the significant market growth driving and restraining factors that are anticipated to influence the market growth through the forecast period. The Global Natural Language Processing Market studies the market scenario to offer growth projections for the Natural Language Processing Market industry for the forecast period of 2022-2030.

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The global Natural Language Processing (NLP) market size is expected to reach USD 98.05 Billion at a steady revenue CAGR of 25.7% in 2030, . Rising demand for cloud-based NLP solutions to reduce overall costs and enhance scalability can be attributed to the steady market revenue growth of NLP. Combining NLP on the cloud is a huge benefit given the quick growth of cloud computing services. It enables researchers to use the immense, on-demand computing capacity of the cloud to run NLP-related experiments on massive amounts of data processed using big data approaches. However, it has not sufficiently disseminated its cloud-based tools and applications, and there is little literature that covers the breadth of interdisciplinary effort. Big data, cloud computing, and natural language processing are all broad fields with opportunities and difficulties. These obstacles can be overcome, and a significant deal of potential for NLP and its applications can be unlocked by combining these sciences.

Competitive Outlook:

The global Natural Language Processing market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Natural Language Processing market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.

Key players in the market include IBM, Microsoft, Google, Amazon Web Services, Inc., Meta, 3M, Baidu, Apple Inc., SAS Institute Inc., IQVIA

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Key insights presented in the report:

Market revenue shares by major business players, by type, by application, and market scope of global Natural Language Processing market

Sales revenue by key players and new entrants

Competitive analysis of the key players including aspects such as company overview, product or services specification, vendors, and buyers.

Recent mergers, acquisitions, product launches, recent investments, and joint ventures

Regional analysis to provide insight to recent trends and opportunities

The global Natural Language Processing market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Natural Language Processing market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Natural Language Processing market.

Emergen Research has segmented the global Natural Language Processing (NLP) market on the basis of component, type, application, vertical, and region:

Component Outlook (Revenue, USD Million; 2019–2030)
- Solutions
- Services

Type Outlook (Revenue, USD Million; 2019–2030)
- Rule-Based
- Statistical
- Hybrid

Application Outlook (Revenue, USD Million; 2019–2030)
- Customer Experience Management
- Virtual Assistant/Chatbots
- Social Media Monitoring
- Sentiment Analysis
- Other Applications

Vertical Outlook (Revenue, USD Million; 2019–2030)
- Banking, Financial Services, & Insurance (BFSI)
- IT & ITES
- Retail & E-Commerce
- Healthcare & Life Sciences
- Other Verticals

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Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.

Detailed Regional Analysis covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The report addresses the following key points:

The report estimates the expected market size from 2022-2030

The report provides a forecast of market drivers, restraints, and future opportunities for the Natural Language Processing market

The report further analyses the changing market dynamics

Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth

Extensive competitive landscape mapping with profiles of the key competitors

In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies

Revenue forecast, country scope, application insights, and product insights

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How to cite

J. Shar, Natural Language Processing Market: Opportunities and Challenges in a Rapidly Evolving Industry, Janna Shar's personal collection (2023). 1 URL https://www.scipedia.com/public/Shar_2023a

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Component Outlook (Revenue, USD Million; 2019–2030)

Type Outlook (Revenue, USD Million; 2019–2030)

Application Outlook (Revenue, USD Million; 2019–2030)

Vertical Outlook (Revenue, USD Million; 2019–2030)