Natural Language Processing Market- KBV Research

NEW YORK - Jan. 10, 2020 - PRLog -- According to a new report Global Natural Language Processing Market, published by KBV Research, The Global Natural Language Processing Market size is expected to reach $29.5 billion by 2025, rising at a market growth of 20.5% CAGR during the forecast period. Major growth drivers in the NLP market include an increase in the use of smart devices, an increase in cloud-based solutions and NLP-based applications to enhance customer service, as well as an increase in technological innovation in the healthcare sector.

The BFSI market dominated the Global Natural Language Processing Market by Industry Vertical 2018. The Healthcare market is showcasing prominent growth rate of 20.9% during (2019-2025). NLP innovations is proving to be one of the key healthcare industry revolutions; this software automates the burdensome processes of transcribing spoken or written notes from clinical staff, collects key information, and provides clinicians with the ability to refine the issue list, making it more precise and detailed.

The Solution market dominated the Global Natural Language Processing Market by Component 2018. The Services market is expected to witness a CAGR of 23.4% during (2019-2025). The services segment is an essential part of the natural language processing market. In order for any software to work effectively, services need to be installed to improve the efficiency of the entire process.

North America is projected to have the largest market size during the forecast period, while the region is witnessing rapid technological advances; thus, the high adoption of digital technologies is one of the drivers of NLP market growth in the region. The Europe market is experiencing a CAGR of 19.7% during (2019-2025). Additionally, The Asia Pacific market is poised to witness a CAGR of 22.7% during (2019-2025).

Structural Insights: https://www.kbvresearch.com/natural-language-processing-market/

Global Natural Language Processing Market Segmentation

By Component

Solution

Services

By Application

Text Classification

Machine Translation

Question Answering

Sentiment Analysis

Information Extraction

Automatic Summarization

Others

By Type

Rule Based

Statistical

Hybrid

By Deployment Type

On-premise

Cloud

By Industry Vertical

BFSI

IT & Telecom

Healthcare

Retail & eCommerce

Government & Defense

Media & Entertainment

Manufacturing

Others

By Geography

North America

US

Canada

Mexico

Rest of North America

Europe

Germany

UK

France

Russia

Spain

Italy

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Singapore

Malaysia

Rest of Asia Pacific

LAMEA

Brazil

Argentina

UAE

Saudi Arabia

South Africa

Nigeria

Rest of LAMEA

Companies Profiled

IBM Corporation

Microsoft Corporation

Google, Inc.

Amazon.com, Inc.

Apple, Inc.

Facebook, Inc.

Intel Corporation

SAS Institute, Inc.

Baidu, Inc.

Health Fidelity, Inc.

Conversica, Inc.

Inbenta Technologies, Inc.