Global Natural Language Processing (NLP) Market (By Type - Statistical NLP, Hybrid based NLP, and Rule NLP. By Component - Solutions, and Services. By Technology - Recognition Technologies, Operational Technologies, and Analytics Technologies. By Deployment Mode - On premise, and Cloud. By Application - Text Classification, Machine Translation, Information Extraction, Report Generation, Question Answering, Sentiment Analysis, Automatic Summarization, and Others. By End-User, Automotive, Healthcare, BFSI, IT and Telecom, Government, Defense & Aerospace, Media & Advertisement, and Academia and Education. By Geography-North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)– Global industry analysis, size, share, growth, trends, and forecast, 2020 – 2028 – Post Covid

The Global Natural Language Processing (NLP) Market was $9.6 Bn in 2020, and it is expected to reach $23.50 Bn by 2028. It is eventually growing at a commendable high compound annual growth rate CAGR of 11.8% between 2020-2028. However, the current pandemic of COVID-19 might make a slight difference in the growth rate in the present year. The Natural Language Processing (NLP) Market is majorly driven by the increasing use of digital data, and smart device. Moreover, the quick rise in cloud-based solutions and NLP based applications to enhance customer service, and significant technological investment in the healthcare sector is also projected to trigger market growth during the forecast period.

Global Recognition Technologies Segment Is Estimated to Witness Remarkable Growth

Source: SAI Research

The global Natural Language Processing (NLP) Market has been segmented into Type, Component Technology, Deployment Mode, Application, End-User, and regions. By type, the global Natural Language Processing (NLP) Market is divided into Statistical NLP, Hybrid based NLP, and Rule NLP. By component, the global Natural Language Processing (NLP) Market is divided into Solutions, and Services. By technology the global Natural Language Processing (NLP) Market is divided into Recognition Technologies, Operational Technologies, and Analytics Technologies. By Deployment Mode, the global Natural Language Processing (NLP) Market is divided into On premise, and Cloud. By application, the global Natural Language Processing (NLP) Market is divided into Text Classification, Machine Translation, Information Extraction, Report Generation, Question Answering, Sentiment Analysis, Automatic Summarization, and Others. By end user, the global Natural Language Processing (NLP) Market is divided into Automotive, Healthcare, BFSI, IT and Telecom, Government, Defense & Aerospace, Media & Advertisement, and Academia and Education. Recognition technology segment is estimated to witness remarkable growth due to its wide usage in multiple small and large organizations. A recognition technology consists of interactive voice recognition (IVR), optical character recognition and image recognition. The growing advancement in voice based recognition technologies to receive the customer’s voice and text based data and process it in real time is expected fuel the Recognition Technologies Market globally.

By Region, North America is Holding the Major Market Share

The global Natural Language Processing (NLP) Market has been geographically segmented into North America, Asia Pacific, Latin America, Middle East, and Africa region. In addition to this, North America Natural Language Processing (NLP) Market is holding the largest market share currently and is estimated to show the steady compound annual growth rate in the upcoming forecast period due to factors such as rapid developments in infrastructure and the high adoption of digital technologies. Moreover, the presence of major players in the region is also influencing the market positively. The Asia Pacific market, however, is projected to be the fastest-growing market over the forecast period growing used of voice recognition application, and rising Artificial intelligence across the region. The European region is expected to show moderate growth over the forecast timeline. LAMEA region is projected to witness significant growth during the forecast period owing to the rising demand for the human-machine communication software application.

Major Players in Global Natural Language Processing (NLP) Market

Some of the key players in the global Natural Language Processing (NLP) Market include IBM Corporation, SAS Institute Inc., Google Inc., Microsoft Corporation, Amazon Web Services, Dolbey Systems, Inc., Apple Inc, Facebook, Inc., Baidu, Inc, Netbase, and Conversica, Inc.

The Global Natural Language Processing (NLP) Market Has Been Segmented into:

Global Natural Language Processing (NLP) Market: By Type

• Statistical NLP
• Hybrid based NLP
• Rule NLP

Global Natural Language Processing (NLP) Market: By Component

• Solutions
• Services

Global Natural Language Processing (NLP) Market: By Technology

• Recognition Technologies
• Operational Technologies
• Analytics Technologies

Global Natural Language Processing (NLP) Market: By Deployment Mode

• On premise
• Cloud

Global Natural Language Processing (NLP) Market: By Application

• Text Classification
• Machine Translation
• Information Extraction
• Report Generation
• Question Answering
• Sentiment Analysis
• Automatic Summarization
• Others

Global Natural Language Processing (NLP) Market: By End-User

• Automotive
• Healthcare
• BFSI
• IT and Telecom
• Government, Defense & Aerospace
• Media & Advertisement
• Academia and Education

Global Natural Language Processing (NLP) Market: By Region

• North America
  • USA
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America, Middle East & Africa
  • Brazil
  • South Africa
  • UAE
  • Rest of LAMEA