Natural Language Processing (NLP) Market To Soar At A CAGR Of 16.1% To 2021 Led By MEA Region

The natural language processing (NLP) market size is expected to grow from USD 7.63 billion in 2016 to USD 16.07 billion by 2021, at a CAGR of 16.1% driven by increasing smart device usage, demand for enhanced customer experience, and potential growth in machine-to-machine technology

Today, almost every business function of an organization, namely marketing, sales, finance, operations, and HR are looking for solutions that could help them interact more effectively with outside world in a future-proof fashion. Thus, the scope and challenges associated to statistical natural language processing (NLP) solutions that use machine learning technology is gaining high traction across a number of industries.

The growing demand of extracting and forming structured data sets from clusters of unstructured data online is driving the growth of the on-demand deployment model in the natural language processing (NLP) market. This model aligns expenditure to business requirement and its growth is specifically high in enterprises, where low cost solutions are much required.

Complete report on global natural language processing (NLP) market spread across 140 pages, profiling 10 companies and supported with 69 tables and 45 figures is now available .

The media & entertainment and research & education verticals are expected to play a key role in the natural language processing (NLP) landscape and are expected to grow with high growth rates in the next five years. Sentiment analysis is widely applied to review social media for a variety of applications, ranging from marketing to customer service. Natural language processing (NLP) is also an effective approach for bringing improvement in educational setting.

Middle East and Africa (MEA) is expected to have the highest growth rate during the forecast period. The MEA region is expected to be the fastest growing market among all the regions. The growth of the market is due to increased spending capabilities of the people and rise in the use of voice recognition application by various industries.

The various key natural language processing (NLP) vendors profiled in this report such as 3M, Apple Incorporation, Dolbey Systems, Google, HPE, IBM Incorporation, Microsoft Corporation, NetBase Solutions, SAS Institute, Inc. and Verint Systems. Request a discount on Natural Language Processing Market by Type (Rule-Based, Statistical, and Hybrid), Technologies (Recognition, IVR, OCR, Speech Recognition, Text Processing, Pattern & Image Recognition), by Deployment Type, Vertical & by Region - Global Forecast to 2021 research report at .

In the process of determining and verifying, the global natural language processing (NLP) size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (55%), Tier 2 (20%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (60%), Directors Level (25%) and others (15%) from various key organizations operating in the global natural language processing (NLP). The primary interviews were conducted worldwide covering regions such as North America (10%), Europe (20%), Asia-Pacific (40%) and ROW (30%).

On a related note, another research on Natural Language Processing Market for Health Care and Life Sciences Industry Global Forecast to 2020 says, the global NLP market for health care and life sciences industry is expected to grow from USD 1.10 Billion in 2015 to USD 2.67 Billion by 2020, at a CAGR of 19.2%. The NLP market is broadly segmented by type of solutions into rule-based NLP, statistical NLP, and hybrid NLP. This research report also identifies the factors driving this market and restraints, challenges, and opportunities impacting it along with the future roadmaps. Companies like 3M, IBM, Cerner Corp., Nuance Communication, Microsoft Corp., Health Fidelity, Apixio, Linguamatics, Optum, Inc., and Dolbey Systems have been profiled in this 134 pages research report available at .

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