The global natural language processing (NLP) market size is projected to reach USD 80.68 billion by 2026, thereby exhibiting a CAGR of 32.4% during the forecast period. This information is published by Fortune Business Insights™, in the latest published report. The report further states that the natural language processing market was USD 8.61 billion in 2018. It is set to gain momentum from the rising demand for big data, improved algorithms, and powerful computing.
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Fortune Business Insights™ lists out some of the most significant companies operating in the NLP market. They are as follows:
- 3M Company
- Adobe Systems Inc.
- Amazon Web Services Inc.
- Apple Inc.
- Google (Alphabet Inc.)
- Hewlett-Packard Enterprise Company
- Intel Corporation
- International Business Machine (IBM) Corporation
- Microsoft Corporation
- SAS Institute Inc.
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What Does the Report Contain?
- Extensive analysis of the NLP market trends, opportunities, challenges, growth drivers, and barriers
- Competitive analysis, consisting of mergers and acquisitions, new product launches, contracts, agreements, and partnerships
- Information about niche segments
“Rising Government Initiatives to Favor Growth in Asia Pacific”
In terms of region, the market is fragmented into Latin America, the Middle East and Africa, Asia Pacific, Europe, and North America. Out of these, North America NLP market size was USD 4.12 billion NLP in 2018. The companies present in this region are investing huge sums in the advancement of NLP solutions and the applications associated with them. Apart from that, in the U.S., the amount of unstructured data is rising rapidly, owing to the growth of start-up companies. Those companies are, therefore, deploying NLP services. Also, the rising demand for NLP and AI-equipped products and solutions and good return on investments are set to fuel the market growth in this region.
Asia Pacific, on the other hand, is anticipated to be a fast-growing region in the coming years owing to the increasing adoption of AI. The governments of various countries situated in this region are taking various initiatives to implement AI in the business processes. Amongst them, China is projected to showcase the highest implementation of NLP solutions. The State Council of China, for instance, released its ‘New Generation Artificial Intelligence Development Plan’ that suggests the country’s strategy to create a domestic AI industry valued at approximately USD 150 billion. It is set to become one of the leading AI power by 2030.
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Major Table of Contents for Natural Language Processing (NLP) Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Company Profile
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