Natural Language Processing (NLP) Market Research Report- Global Forecast to 2027

Global Natural Language Processing Market research report: by Technology (auto-coding, text analytics, pattern & image recognition, and speech analytics), by type (rule-based, statistical and hybrid), by Service (integration, consulting and maintenance), by deployment (on-premise, on-demand), by Vertical (healthcare, Retail Sector, Media & Entertainment) - Forecast till 2023

ID: MRFR/ICT/0780-HCR | February 2021 | Region: Global | 100 pages

Please note that the assessment period of report has been updated from 2017-2023 to 2020-2027. Cordially fill the sample form for updated data.

Market Overview:


In traditional times computers used to understand only analog signals thus making computer operators provide binary signals for better understanding. But with the era of revolution came to machines that could understand digital signals that could be easily translated with the keyboard. Understanding human’s language and voice commands is the new addition to the computer technology called Natural Language Processing. With artificial intelligence computers are able to learn, decipher and understand the human command in interactive forms and derive meaningful insights from it. Natural Language Processing Market have advanced to a degree where translating different language for humans to use in different countries has made world easier.


Natural Language Processing Market Statistics shows an exponential growth in the automatic manipulation of the written and spoken human languages which through artificial intelligence and machine learning developed algorithms to examine the language patterns and give understandable instructions to the small-time devices. With increased statistical learning many companies have invested in NLP for driving small time applications to big-time technology. Syntax and semantics are the core by making a perfect text or voice note for NLP tools to translate them and giving meaning to it. Google is using NLP services in computers and smart devices by the name Google translate which is used to give directions in Google Maps. Natural Language Processing (NLP) Market Research Report forecasts a CAGR of 24% by the year 2023.


COVID-19 Analysis:


COVID-19 is one the most dangerous virus witnessed by humans in the last millennial impacting the world by increased number of patients and death per human life. The impact of the virus is huge on human life as well as the industries around. Natural Language Processing has helped hospitals and government understand doctors’ and patients’ commands in an easier manner and broadcast commands. Understanding the different patients gives real-time data that could be evaluated and have an edge of the virus by providing a before-hand response to uplift healthy measures. Government around the world worked together by decoding the articles published in different language using Natural Language Processing Statistics and developing a case study which helped government in tracking and containing effected parents.


Market Dynamics:


Drivers:


With growing data and conflicts to understand this data Natural Language Processing became the most used technology in coordination with artificial intelligence, machine learning and deep learning and providing meaningful insights to human commands. Humans give command to computers in form of text or voice note which is translated by machine and giving output in form of message or audio file. With understanding of complex syntax and semantics of the morbid information Natural Language Processing plays vital role in today’s world. People no longer have to learn and understand different languages as to travel the world or interact with people of different language origin, companies like Google, Microsoft, etc. have developed translation apps to make language barrier scarce.


Challenges:


Word segmentation i.e. breaking continuous big chunk of data into smaller chunks and making meaning out of it isquitet challenging as sometimes deciphering smaller chunks could be difficult. Understanding human language could be challenging as not all the commands humans pass is in human understandable form. High-level language or nasty sarcastic comments which humans use to express feeling of anger, anguish or happiness is not exactly in computer understandable format. Plural form of language is sometimes misinterpreted by machine learning algorithms and can cause fiscal typos and commands. Humans can identify language patterns easily and remove ambiguity in the natural language selection but computers on the other hand could face issue in identifying ambiguous patterns.


Value Chain Analysis:


Natural Language Processing works on the study of data science, machine learning and deep learning that helps human language in an understandable format and provides insightful meaning and commands. Natural Language Processing tools have marketed value in performing text and voice analysis in form of social media pictures, videos and sound, documents, and many more. The scalability of NLP has a curved way of performing and analyzing data and build models and algorithms that help streamline processes that provide value to industries by being cost-efficient. More customers are attracted to using NLP configured apps as it helps people to give commands and their requests are transferred to critical sometimes management systems of the app’s core and provide accurate results. Marketing officials have gained immense customers by making NLP the core of their marketing strategies reducing the human efforts and time consumed in practically decoding the commands of various customers. Online data from social media have made NLP the core to understand online users’ demand. The word ‘Translate’ is mentioned on most of the online sites and apps depending on the different geographical locations and providing different users with different language translations conditions.


Segment Overview:


By Service:


Natural Language Processing market is segmented by service as text recognition and sound recognition. Computers are made profound in understanding the text message and voice-controlled messages and decode the message and interpret them and send to the buffered algorithms that can give appropriate answers to human queries. Understanding different languages and slang of people can be difficult sometime but artificial intelligence and machine learning have derived algorithms that store these complex commands and predict patterns of the message and reduce errors for future use.


By Vertical:


By vertical Natural Language Processing Services are segmented in many industries evolution like medical, educational, healthcare, transport, manufacturing retails, etc. Medial Departments use NLP to keep track of patients and the disease in form of medical history forms that can be used globally by doctors to track and use it on patients of similar disease in different areas of the world. Companies like Google, Microsoft, Paytm have used Natural Language Processing Services to provide outcomes for human queries. For instance, google use transportation service and payment services to give directions to customers and users in user desired languages. Paytm gives vocal output on every payment received for companies giving receiver and sender confirmation of payment.


Regional Analysis:


With the interactive form of communication from human to machine, interaction has changed the way of working with modern technology.  A profit of more than 60 billion US dollars is expected in Natural Language Processing (NLP) Market by the year 2023. Natural Language Processing tools have been useful in rural and urban areas by bridging the gap between people and machines. Virtual assistant app libraries like google home, Alexa, Siri, have given a comprehensive platform to Natural Language Processing Systems focusing on the human interactive forms of communication with smart devices. With voice control we can send and receive messages, call from our contact list, play music from the apps library, and many more functions. America is the leading country of several companies that have developed and outsourced their NLP services across the world followed by Europe who works on SAP-HANA for creating and analyzing data through statistical algorithms. Asia-Pacific countries like China and Japan have boomed in technology by creating independent voice and text translators giving them an edge over the rest of the world.


Competitive Analysis:


Natural Language Processing Market Size has grown immensely in the past decade. Earlier message and voice translation were subjected on for industrial use but with increased interactive platforms NLP is now available for commercial use also paving its way in our smartphones for daily purpose use. Natural Language Processing (NLP) Market Research Report was at 21.1% by year 2020 but with the increased use of NLP service a world forecast of 36% CAGR by the year 2023 marking an increase in revenue of 85% for the world’s NLP using companies. IBM (US), Oracle (US), Apple (US), Microsoft (US), HP (US), Netbase Solutions (US) are the Natural Language Processing Market leaders of North America attracting more usecustomerLP market and generating greater revenue.


Recent Developments:


Natural Language Processing (NLP) Market has crossed more than 80 billion users in the past 5 years due to highly transformed algorithms that provide app analysis analysis and statistics for customer’s customers’ Technologies have developed algorithms thas bank servers and using text messages and accounts that help detect falsie insurance claims. Micro that Google and Apple have made entries in customers home by introducing text and voice-controlled messages. Ukraine has made advancements and bringing more customers to the automobile industries by analyzing marketing data and embedded voice-controlled systems in their automobiles. Neural Metrics Inc in the year 2019 developed Smart Radio Platform by accepting customer requests and attracting more customers based on historical data.


Report Overview:


The global Natural Language Processing (NLP) Market Research Report accounts for an increased adaptation of the latest technology of NLP using deep learning, machine learning, and artificial intelligence in the statistical analysis of data and giving meaningful insights to customer messages and voice commands. Natural Language Processing Market Statistics shows exponential growth in the automatic manipulation of the written and spoken human languages which through artificial intelligence and machine learning developed algorithms to examine the language patterns and give understandable instructions through smart devices. With increased statistical learning many companies have invested in NLP for driving small time applications to big time technology.



Frequently Asked Questions (FAQ) :


Hospitals, medical care, retail and household sectors are major segmentation of NLP by vertical.

Natural Language Processing (NLP) Market Research Report forecasts a CAGR of 36% by the year 2023.

Deep learning, machine learning and artificial intelligence are major reasons of NLP adaption.

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining power of buyers

4.1.3 Threat of substitutes

4.1.4 Segment rivalry

4.2 Value Chain/Supply Chain of Global Natural Language Processing Market

5 Industry Overview of Global Natural Language Processing Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact analysis

7. Global Natural Language Processing Market by Technology

7.1 Introduction

7.2 Auto Coding

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Region, 2020-2027

7.3 Text Analytics

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast by Region, 2020-2027

7.4 Optical Character Recognition

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast by Region, 2020-2027

7.5 Interactive Voice Response

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast by Region, 2020-2027

7.6 Pattern and Image Recognition

7.6.1 Market Estimates & Forecast, 2020-2027

7.6.2 Market Estimates & Forecast by Region, 2020-2027

7.7 Speech Analytics

7.7.1 Market Estimates & Forecast, 2020-2027

7.7.2 Market Estimates & Forecast by Region, 2020-2027


8. Global Natural Language Processing Market by Type

8.1 Introduction

8.2 Rule based natural language processing

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast by Region, 2020-2027

8.3 Statistical natural language processing

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by Region, 2020-2027

8.4 Hybrid natural language processing

8.4.1 Market Estimates & Forecast, 2020-2027

8.4.2 Market Estimates & Forecast by Region, 2020-2027

9. Global Natural Language Processing Market by Service

9.1 Introduction

9.2 Integration Service

9.2.1 Market Estimates & Forecast, 2020-2027

9.2.2 Market Estimates & Forecast by Region, 2020-2027

9.3 Consulting Service

9.3.1 Market Estimates & Forecast, 2020-2027

9.3.2 Market Estimates & Forecast by Region, 2020-2027

9.4 Maintenance Service

9.4.1 Market Estimates & Forecast, 2020-2027

9.4.2 Market Estimates & Forecast by Region, 2020-2027

10. Global Natural Language Processing Market by Deployment

10.1 Introduction

10.2 On-Premise

10.2.1 Market Estimates & Forecast, 2020-2027

10.2.2 Market Estimates & Forecast by Region, 2020-2027

10.3 On-Demand

10.3.1 Market Estimates & Forecast, 2020-2027

10.3.2 Market Estimates & Forecast by Region, 2020-2027

11. Global Natural Language Processing Market by Vertical

11.1 Introduction

11.2 Healthcare

11.2.1 Market Estimates & Forecast, 2020-2027

11.2.2 Market Estimates & Forecast by Region, 2020-2027

11.3 Public Sector

11.3.1 Market Estimates & Forecast, 2020-2027

11.3.2 Market Estimates & Forecast by Region, 2020-2027

11.34 Retail

11.. 43.1 Market Estimates & Forecast, 2020-2027

11.34.2 Market Estimates & Forecast by Region, 2020-2027

11.. 54 Media & Entertainment

11.. 54.1 Market Estimates & Forecast, 2020-2027

11.45.2 Market Estimates & Forecast by Region, 2020-2027

11.56 Manufacturing

11.56.1 Market Estimates & Forecast, 2020-2027

11.56.2 Market Estimates & Forecast by Region, 2020-2027

11.67 Others

11.67.1 Market Estimates & Forecast, 2020-2027

11.67.2 Market Estimates & Forecast by Region, 2020-2027

12. Global Natural Language Processing Market by Region

12.1 Introduction

12.2 North America

12.2.1 Market Estimates & Forecast, 2020-2027

12.2.2 Market Estimates & Forecast by Technology, 2020-2027

12.2.3 Market Estimates & Forecast by Type, 2020-2027

12.2.4 Market Estimates & Forecast by Service, 2020-2027

12.2.5 U.S.

12.2.5.1 Market Estimates & Forecast, 2020-2027

12.2.5.2 Market Estimates & Forecast by Technology, 2020-2027

12.2.5.3 Market Estimates & Forecast by Type, 2020-2027

12.2.4 Market Estimates & Forecast by Service, 2020-2027

12.2.6 Mexico

12.2.6.1 Market Estimates & Forecast, 2020-2027

12.2.6.2 Market Estimates & Forecast by Technology, 2020-2027

12.2.6.3 Market Estimates & Forecast by Type, 2020-2027

12.2.6.4 Market Estimates & Forecast by Service, 2020-2027

12.2.7 Canada

12.2.7.1 Market Estimates & Forecast, 2020-2027

12.2.7.2 Market Estimates & Forecast by Technology, 2020-2027

12.2.7.3 Market Estimates & Forecast by Type, 2020-2027

12.2.7.4 Market Estimates & Forecast by Service, 2020-2027

12.3 Europe

12.3.1 Market Estimates & Forecast, 2020-2027

12.3.2 Market Estimates & Forecast by Technology, 2020-2027

12.3.3 Market Estimates & Forecast by Type, 2020-2027

12.3.4 Market Estimates & Forecast by Service, 2020-2027

12.3.5 Germany

12.3.5.1 Market Estimates & Forecast, 2020-2027

12.3.5.2 Market Estimates & Forecast by Technology, 2020-2027

12.3.5.3 Market Estimates & Forecast by Type, 2020-2027

12.3.5.4 Market Estimates & Forecast by Service, 2020-2027

12.3.6. France

12.3.6.1 Market Estimates & Forecast, 2020-2027

12.3.6.2 Market Estimates & Forecast by Technology, 2020-2027

12.3.6.3 Market Estimates & Forecast by Type, 2020-2027

12.3.6.4 Market Estimates & Forecast by Service, 2020-2027

12.3.7 Italy

12.3.7.1 Market Estimates & Forecast, 2020-2027

12.3.7.2 Market Estimates & Forecast by Technology, 2020-2027

12.3.7.3 Market Estimates & Forecast by Type, 2020-2027

12.3.7.4 Market Estimates & Forecast by Service, 2020-2027

12.3.8 Spain

12.3.8.1 Market Estimates & Forecast, 2020-2027

12.3.8.2 Market Estimates & Forecast by Technology, 2020-2027

12.3.8.3 Market Estimates & Forecast by Type 2020-2027

12.3.8.4 Market Estimates & Forecast by Service, 2020-2027

12.3.9 UK

12.3.9.1 Market Estimates & Forecast, 2020-2027

12.3.9.2 Market Estimates & Forecast by Technology, 2020-2027

12.3.9.3 Market Estimates & Forecast by Type, 2020-2027

12.3.9.4 Market Estimates & Forecast by Service, 2020-2027

12.4 Asia Pacific

12.4.1 Market Estimates & Forecast, 2020-2027

12.4.2 Market Estimates & Forecast by Technology, 2020-2027

12.4.3 Market Estimates & Forecast by Type, 2020-2027

12.2.4 Market Estimates & Forecast by Service, 2020-2027

12.4.5 China

12.4.5.1 Market Estimates & Forecast, 2020-2027

12.4.5.2 Market Estimates & Forecast by Technology, 2020-2027

12.4.5.3 Market Estimates & Forecast by Type, 2020-2027

12.2.4 Market Estimates & Forecast by Service, 2020-2027

12.4.6 India

12.4.6.1 Market Estimates & Forecast, 2020-2027

12.4.6.2 Market Estimates & Forecast by Technology, 2020-2027

12.4.6.3 Market Estimates & Forecast by Type, 2020-2027

12.2.4 Market Estimates & Forecast by Service, 2020-2027

12.4.7 Japan

12.4.7.1 Market Estimates & Forecast, 2020-2027

12.4.7.2 Market Estimates & Forecast by Technology, 2020-2027

12.4.5.3 Market Estimates & Forecast by Type, 2020-2027

12.2.4 Market Estimates & Forecast by Service, 2020-2027

12.4.8Rest of Asia-Pacific

12.4.8.1 Market Estimates & Forecast, 2020-2027

12.4.8.2 Market Estimates & Forecast by Technology, 2020-2027

12.4.8.3 Market Estimates & Forecast by Type, 2020-2027

12.2.8.4 Market Estimates & Forecast by Service, 2020-2027

12.5 Rest of the world

12.5.1 Market Estimates & Forecast, 2020-2027

12.5.2 Market Estimates & Forecast by Technology, 2020-2027

12.5.3 Market Estimates & Forecast by Type, 2020-2027

12.5.4 Market Estimates & Forecast by Service, 2020-2027

12.5.5 Middle East & Africa

12.5.5.1 Market Estimates & Forecast, 2020-2027

12.5.5.2 Market Estimates & Forecast by Technology, 2020-2027

12.5.5.3 Market Estimates & Forecast by Type, 2020-2027

12.5.5.4 Market Estimates & Forecast by Service, 2020-2027

12.5.6 Latin Countries

12.5.6.1 Market Estimates & Forecast, 2020-2027

12.5.6.2 Market Estimates & Forecast by Technology, 2020-2027

12.5.6.3 Market Estimates & Forecast by Type, 2020-2027

12.5.6.4 Market Estimates & Forecast by Service, 2020-2027

13. Company Landscape

14. Company Profiles

14.1 IBM Corporation (U.S.)

14.1.1 Company Overview

14.1.2 Product/Business Segment Overview

14.1.3 Financial Updates

14.1.4 Key Developments

14.2 3M Co. (U.S.)

14.2.1 Company Overview

14.2.2 Product/Business Segment Overview

14.2.3 Financial Updates

14.2.4 Key Developments

14.3 Hewlett-Packard Co. (U.S.)

14.3.1 Company Overview

14.3.2 Product/Business Segment Overview

14.3.3 Financial Updates

14.3.4 Key Developments

14.4 Apple Inc. (U.S.)

14.4.1 Company Overview

14.4.2 Product/Business Segment Overview

14.4.3 Financial Updates

14.4.4 Key Developments

14.5 Oracle Corporation (U.S.)

14.5.1 Company Overview

14.5.2 Product/Business Segment Overview

14.5.3 Financial Updates

14.5.4 Key Developments

14.6 Microsoft Corporation (U.S.)

14.6.1 Company Overview

14.6.2 Product/Business Segment Overview

14.6.3 Financial Updates

14.6.4 Key Developments

14.7 Dolbey Systems Inc. (U.S.)

14.7.1 Company Overview

14.7.2 Product/Business Segment Overview

14.7.3 Financial Updates

14.7.4 Key Developments

14.8 SAS Institute Inc. (U.S.)

14.8.1 Company Overview

14.8.2 Product/Business Segment Overview

14.8.3 Financial Updates

14.8.4 Key Developments

14.9 Netbase Solutions Inc. (U.S.)

14.9.1 Company Overview

14.9.2 Product/Business Segment Overview

14.9.3 Financial Updates

14.9.4 Key Developments

15 Conclusion


LIST OF TABLES

Table 1World Population by Major Regions (2020 To 2030)

Table 2 Global VR Software Market: By Region, 2020-2027

Table 3 North America VR Software Market: By Country, 2020-2027

Table 4 Europe VR Software Market: By Country, 2020-2027

Table 5 Asia-Pacific VR Software Market: By Country, 2020-2027

Table 6 Middle East & Africa VR Software Market: By Country, 2020-2027

Table 7 Latin America VR Software Market: By Country, 2020-2027

Table 8 Global VR Software by Technology Market: By Regions, 2020-2027

Table 9 North America VR Software by Technology Market: By Country, 2020-2027

Table10 Europe VR Software by Technology Market: By Country, 2020-2027

Table11 Asia-Pacific VR Software by Technology Market: By Country, 2020-2027

Table12 Middle East & Africa VR Software by Technology Market: By Country, 2020-2027

Table13 Latin America VR Software by Technology Market: By Country, 2020-2027

Table14 Global VR Software by Service Market: By Regions, 2020-2027

Table15 North America VR Software by Service Market: By Country, 2020-2027

Table16 Europe VR Software by Service Market: By Country, 2020-2027

Table17 Asia-Pacific VR Software by Service Market: By Country, 2020-2027

Table18 Middle East & Africa VR Software by Service Market: By Country, 2020-2027

Table19 Latin America VR Software by Service Market: By Country, 2020-2027

Table20 North America VR Software for Form Market: By Country, 2020-2027

Table21 Europe VR Software for Form Market: By Country, 2020-2027

Table22 Asia-Pacific VR Software for Form Market: By Country, 2020-2027

Table23 Middle East & Africa VR Software for Form Market: By Country, 2020-2027

Table24 Latin America VR Software for Form Market: By Country, 2020-2027

Table25 Global Technology Market: By Region, 2020-2027

Table28 North America VR Software Market, By Country

Table29 North America VR Software Market, By Technology

Table30 North America VR Software Market, By Type

Table31 North America VR Software Market, By Service

Table32 North America VR Software Market, By Deployment

Table33 North America VR Software Market, By Vertical

Table34 Europe: VR Software Market, By Country

Table35 Europe: VR Software Market, By Technology

Table36 Europe: VR Software Market, By Type

Table 37 Europe: VR Software Market, By Service

Table37 Europe VR Software Market, By Deployment

Table38 Europe VR Software Market, By Vertical

Table39 Asia-Pacific: VR Software Market, By Country

Table40 Asia-Pacific: VR Software Market, By Technology

Table41 Asia-Pacific: VR Software Market, By Type

Table 42 Asia-Pacific: VR Software Market, By Service

Table43 Asia-Pacific VR Software Market, By Deployment

Table44 Asia-Pacific VR Software Market, By Vertical

Table45 Middle East & Africa: VR Software Market, By Country

Table46 Middle East & Africa VR Software Market, By Technology

Table47 Middle East & Africa VR Software Market, By Type

Table48 Middle East & Africa: VR Software Market, By Service

Table49 Middle East & Africa VR Software Market, By Deployment

Table50 Middle East & Africa VR Software Market, By Vertical

Table51 Latin America: VR Software Market, By Country

Table52 Latin America VR Software Market, By Technology

Table53 Latin America VR Software Market, By Type

Table54 Latin America: VR Software Market, By Service

Table55 Latin America VR Software Market, By Deployment

Table56 Latin America VR Software Market, By Vertical

LIST OF FIGURES

FIGURE 1 Global VR Software Market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Five Forces Analysis of Global VR Software Market

FIGURE 4 Value Chain of Global VR Software Market

FIGURE 5 Share of Global VR Software Market in 2020, by country (in %)

FIGURE 6 Global VR Software Market, 2020-2027,

FIGURE 7 Sub segments of Technology

FIGURE 10 Global VR Software Market size by Technology, 2020

FIGURE 11 Share of Global VR Software Market by Technology, 2020 TO 2027

FIGURE 12 Global VR Software Market size by Type, 2020

FIGURE 13 Share of Global VR Software Market by Type, 2020 TO 2027

FIGURE 14 Global VR Software Market size by Service, 2020 TO 2027

FIGURE 15 Share of Global VR Software Market by Service, 2020 TO 2027

FIGURE 16 Global VR Software Market size by Deployment, 2020 TO 2027

FIGURE 17 Share of Global VR Software Market by Deployment, 2020 TO 2027

FIGURE 18 Global VR Software Market size by Vertical, 2020 TO 2027

FIGURE 19 Share of Global VR Software Market by Vertical, 2020 TO 2027