Natural Language Processing Market worth $13.4 Billion by 2020

The report “Natural Language Processing Market by Type (Rule-Based, Statistical, and Hybrid), Technologies (Recognition, IVR, OCR, Pattern & Image Recognition) - Worldwide Forecast to 2020” defines and divides the Natural Language Processing (NLP) market into various segments with an in-depth analysis and forecasting of revenues.

Browse 65 market data tables and 52 figures spread through 141 pages and in-depth TOC on “Natural Language Processing Market "
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This research report also identifies the factors driving this market, various restraints, challenges, and opportunities impacting it along with the future roadmaps. Additionally, the report emphasizes on key adoption trends, evolution of NLP techniques, attractive market opportunities, and business cases in this innovative market. MarketsandMarkets expects a significant growth trend of NLP solutions in various industries as there is a massive rise in the demand of enhancing the customer experience and Machine to Machine (M2M) techniques.

The Natural Language Processing Market is broadly segmented by type: rule-based NLP, statistical NLP, and hybrid NLP; by type of technologies: recognition technologies (including interactive voice response, optical character recognition, and pattern and image recognition), operational technologies (including auto coding and classification and categorization) and analytics (including text analytics and speech analytics); by type of services: professional services and support and maintenance services; by deployment model: on-premise and  on-demand; by application: machine translation, information extraction, report generation, question answering and other applications; by vertical: Banking, Financial Services and Insurance (BFSI), automotive, healthcare and life sciences, retail and consumer goods, research and education, high tech and electronics, media and entertainment, government, and other verticals;  and by region: North America (NA), Asia-Pacific (APAC), Europe, Latin America (LA), and Middle East and Africa (MEA).

There are a few assumptions that have been taken into consideration for market sizing and forecasting exercise of the NLP market. These global assumptions include political, economic, social, technological and economic factors. For instance, exchange rates, one of the economic factors, are expected to have a moderate rate of impact on this market. Thus, the dollar fluctuations are also assumed to not affect the market forecast to a significant extent. Also, market size for hardware-related tools and equipment used in the NLP market is not taken into consideration while the overall sizing of the NLP market.

The  market research report will help the market leaders/new entrants in this market in the following ways:

  • This report segments the market into type of NLP solutions covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across different regions.
  • This report will help them better understand the competitor and gain more insights to better position their business. There is a separate section on competitive landscape, including competitor ecosystem, mergers and acquisition and venture capital funding. Besides, there are company profiles of top 10 players in this market.

The Natural Language Processing Market is expected to grow to  $13.4 Billion at a CAGR of 18.4% for the forecast period 2015-2020. Globally, North America and Europe have shown the maximum respective revenues in this market. However, regions such as Latin America, Middle East and Africa (MEA) and Asia-Pacific (APAC) are the faster growing regions.

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