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Natural Language Processing (NLP) Market by Offering (Solutions, Services), Type (Rule-based, Statistical, Hybrid), Application (Sentiment Analysis, Social Media Monitoring), Technology (IVR, OCR, Auto Coding), Vertical & Region - Global Forecast to 2028

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Date: 22-Sep-2023
No. of pages: 431
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“Rising need for enterprise solutions to streamline business operations for better customer experience”

The global natural language processing market is valued at USD 18.9 billion in 2023 and is estimated to reach USD 68.1 billion by 2028, registering a CAGR of 29.3% during the forecast period. Businesses gather a vast amount of complex data from various sources, such as social media sites and customer interactions. However, this data is often unstructured, making it difficult to derive meaning from it. NLP technology offers machines the ability to understand human languages, enabling companies to transform unstructured data into structured formats. By using sentiment analytics techniques, NLP can also understand the sentiment behind human texts or voice. This technology has enabled businesses to better understand their customers and improve their approaches to customer service. Many companies have even been able to create their own voice-driven interfaces using NLP's advanced tools and applications. This has helped them understand customer queries and provide timely and automated responses. NLP technology has also allowed organizations to expand the use of business intelligence software across different departments and receive important data insights.

The Solution segment is projected to hold the largest market size during the forecast period

The adoption of AI solutions is increasing worldwide, as people become more aware of their potential benefits. NLP is a branch of AI that deals with unstructured data processing and mining. It is commonly used to analyze text, voice, and video content, enabling AI agents to understand the nuances and contexts of human language. Companies like IBM, Microsoft, and Google offer NLP solutions with innovative features, such as sentiment analysis, text classification, summarization, and speech recognition. Some vendors provide sophisticated NLP software tools or APIs with customized features tailored to individual user demands in the market.

By Type, Hybrid Segment is registered to grow at the highest CAGR during the forecast period

Hybrid NLP is an advanced approach that combines the strengths of rule-based and statistical NLP methods to provide more accurate language understanding and processing. This fusion integrates predefined linguistic rules with statistical models and ML techniques, enabling for better analysis of vast amounts of data. Hybrid NLP provides several advantages, especially when users do not have proper datasets and need to implement the statistical method with the least dataset. For instance, in the grammar correction system, a module identifies multi-word expressions and then uses the rule-based method to identify incorrect patterns and generate correct ones. Hybrid NLP is particularly effective in scenarios where precise rule-based processing is essential but also benefits from the flexibility and adaptability of statistical approaches. Hybrid NLP is widely used in various NLP applications, such as chatbots, virtual assistants, sentiment analysis, and text classification, providing a versatile solution to tackle the diverse challenges of language understanding and generation. It is also used in eCRM, sentiment analysis, machine translation, and report generation.

By solutions, Software tools segment is anticipated to account for the largest market size during the forecast period

Software tools offered in the NLP market in the form of SDKs, APIs, and frameworks that enable users to integrate NLP capabilities with their existing software. The NLP market witnesses significant developments due to flexible software and SDK kits. Such software tools are used with other solutions to carry out different tasks, such as text and speech analytics. NLU-based business applications are also finding the increased use of Interactive Voice Response (IVR) and virtual assistants in telecommunications and other verticals for enabling users to interact with such systems in their natural language without constraining a set of fixed responses. With statistical techniques, vendors integrate self-learning capabilities to ensure systems keep learning based on user commands and act accordingly in the future. Such techniques have also improved accuracy and helped systems deliver relevant responses. For instance, Google offers Cloud Natural Language APIs, which emphasize entity extraction, sentiment analysis, syntax analysis, and categorization applications.

Asia Pacific is projected to witness the highest CAGR during the forecast period.

The Asia Pacific Natural Language Processing Market includes countries such as China, Japan, India, ASEAN Countries, and Rest of Asia Pacific, which comprises countries like Sri Lanka, Bangladesh, and Myanmar. The region is expected to experience significant growth in the adoption of NLP software and services due to government initiatives, policies, and investments, along with the commercialization of AI and ML technologies. As the region holds more than 50% of the world's population, any technological shifts like those being heralded by AI are expected to shape the future of the region. Many Asian countries such as China, India, Japan, and others are leveraging information-intensive AI technologies, with conversational AI being one of the leading technology trends.

Breakdown of primaries

In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the natural language processing market.


  • By Company: Tier I: 35%, Tier II: 45%, and Tier III: 20%

  • By Designation: C-Level Executives: 35%, Directors: 25%, and Others: 40%

  • By Region: North America: 45%, Asia Pacific: 30%, Europe: 20%, RoW: 5%


Major vendors offering natural language processing solutions and services across the globe are IBM (US), Microsoft (US), Google (US), AWS (US), Meta (US), 3M (US), Baidu (China), Apple (US), SAS Institute (US), IQVIA (UK), Oracle (US), Salesforce (US), OpenAI (US), Inbenta (US), LivePerson (US), SoundHound AI (US), MindMeld (US), Veritone (US), Dolbey (US), Automated Insights (US), Bitext (US), Conversica (US), UiPath (US), Addepto (US), RaGaVeRa (India), Observe.ai (US), Eigen (US), Gnani.ai (India), Crayon Data (Singapore), Narrativa (US), deepset (US), Ellipsis Health (US), DheeYantra (US), Verbit.ai (US), Rasa (US), MonkeyLearn (US), TextRazor (England), and Cohere (Canada).

Research Coverage

The market study covers natural language processing across segments. It aims at estimating the market size and the growth potential across different segments, such as offering, type, application, technology, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report

The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market for natural language processing and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:


  • Analysis of key drivers (Advancements in text-analyzing computer programs, Rising need for enterprise solutions to streamline business operations for better customer experience, Surging demand for cloud-based NLP solutions to reduce overall costs and enhance scalability and Demand for predictive analytics to reduce risks and identify growth opportunities), restraints (Lack of contextual understanding leading to ambiguity, Complexities due to code-mixed language usage while implementing NLP solutions and Limitations in developing NLP technology using neural networks), opportunities (Generative AI acting as catalyst for transforming NLP Market, Need for developing big data technology for actionable business intelligence and Increasing demand for effective data management and advanced data analytics across healthcare), and challenges (Lack of multilingual proficiency and Regulatory and privacy concerns over data security and Interoperability and reliability issues while deploying NLP algorithms) influencing the growth of the natural language processing market

  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the natural language processing market.

  • Market Development: Comprehensive information about lucrative markets – the report analyses the natural language processing market across varied regions.

  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in natural language processing market strategies; the report also helps stakeholders understand the pulse of the natural language processing market and provides them with information on key market drivers, restraints, challenges, and opportunities.

  •  Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players such as IBM (US), Microsoft (US), Google (US), AWS (US), Meta (US) and 3M (US) among others in the natural language processing market.

Natural Language Processing (NLP) Market by Offering (Solutions, Services), Type (Rule-based, Statistical, Hybrid), Application (Sentiment Analysis, Social Media Monitoring), Technology (IVR, OCR, Auto Coding), Vertical & Region - Global Forecast to 2028

Table Of Contents

1 Introduction 53
1.1 Study Objectives 53
1.2 Market Definition 53
1.2.1 Inclusions And Exclusions 54
1.3 Market Scope 55
1.3.1 Market Segmentation 55
1.3.2 Regions Covered 57
1.4 Years Considered 57
1.5 Currency Considered 58
1.6 Stakeholders 58
1.7 Summary Of Changes 59
1.7.1 Recession Impact 59

2 Research Methodology 60
2.1 Research Data 60
Figure 1 Natural Language Processing Market: Research Design 60
2.1.1 Secondary Data 61
2.1.2 Primary Data 61
Table 1 Primary Interviews With Experts 61
2.1.2.1 Breakup Of Primary Profiles 62
Figure 2 Breakup Of Primary Interviews: By Company Name, Designation, And Region 62
2.1.2.2 Key Insights From Industry Experts 63
2.2 Data Triangulation And Market Breakup 64
Figure 3 Data Triangulation 64
2.3 Market Size Estimation 65
Figure 4 Natural Language Processing Market: Top-Down And Bottom-Up Approaches 65
2.3.1 Top-Down Approach 65
2.3.2 Bottom-Up Approach 66
Figure 5 Market Size Estimation Methodology - Approach 1 (Supply-Side): Flowchart Using Revenue From NLP Solutions/Services 66
Figure 6 Market Size Estimation Methodology - Approach 2, Bottom-Up (Supply-Side): Collective Revenue From All NLP Solution/Service Companies 67
Figure 7 Market Size Estimation Methodology - Approach 3, Bottom-Up (Supply-Side): Revenues Of Top Players And Sources Of Data 67
Figure 8 Market Size Estimation Methodology - Approach 4, Bottom-Up (Demand-Side): Share Through Overall NLP Spending 68
2.4 Market Forecast 69
Table 2 Factor Analysis 69
2.5 Research Assumptions 70
2.6 Limitations 71
2.7 Recession Impact Analysis 72
Table 3 Impact Of Recession 72

3 Executive Summary 74
Table 4 Natural Language Processing Market Size And Growth Rate, 2017–2022 (Usd Million, Y-O-Y) 76
Table 5 Natural Language Processing Market Size And Growth Rate, 2023–2028 (Usd Million, Y-O-Y) 76
Figure 9 Solutions Segment To Account For Larger Market In 2023 76
Figure 10 Software Tools Segment To Account For Larger Market In 2023 76
Figure 11 Professional Services Segment To Account For Larger Market In 2023 77
Figure 12 System Integration & Implementation Segment To Account For Largest Market Share In 2023 77
Figure 13 Statistical Type Segment To Account For Largest Market In 2023 77
Figure 14 Ivr Technology Segment To Account For Largest Market Share In 2023 78
Figure 15 Sentiment Analysis Segment To Account For The Largest Application In 2023 78
Figure 16 Cloud Deployment Segment To Be Larger Market In 2023 78
Figure 17 Bfsi Vertical To Account For Largest Market Share In 2023 79
Figure 18 Asia Pacific To Grow At Highest Cagr In Market During Forecast Period 79

4 Premium Insights 80
4.1 Attractive Opportunities In Natural Language Processing Market 80
Figure 19 Surging Demand For Virtual Assistants And Chatbots Powered By Generative Ai To Boost Adoption Of NLP Solutions 80
4.2 Overview Of Recession In Global Natural Language Processing Market 80
Figure 20 Natural Language Processing Market To Witness Minor Decline In Y-O-Y Growth In 2023 80
4.3 Natural Language Processing Market: Top Three Applications 81
Figure 21 Sentiment Analysis Application To Hold Largest Market Share During Forecast Period 81
4.4 Natural Language Processing Market: Key Offering & Top Three Verticals 81
Figure 22 Solutions And Bfsi Vertical To Account For Largest Market Shares Respectively In 2023 81
4.5 Natural Language Processing Market, By Region 82
Figure 23 North America To Account For Largest Market Share In 2023 82

5 Market Overview And Industry Trends 83
5.1 Introduction 83
5.2 Market Dynamics 83
Figure 24 Market Drivers, Restraints, Opportunities, And Challenges: Natural Language Processing Market 84
5.2.1 Drivers 84
5.2.1.1 Advancements In Text-Analyzing Computer Programs 84
5.2.1.2 Rising Need To Streamline Business Operations For Better Customer Experience 84
5.2.1.3 Surging Demand For Cloud-Based NLP Solutions To Reduce Overall Costs And Enhance Scalability 85
5.2.1.4 Demand For Predictive Analytics To Reduce Risks And Identify Growth Opportunities 85
5.2.2 Restraints 85
5.2.2.1 Lack Of Contextual Understanding Leading To Ambiguity 85
5.2.2.2 Complexities Due To Code-Mixed Language 86
5.2.2.3 Limitations In Developing NLP Technology Using Neural Networks 86
5.2.3 Opportunities 86
5.2.3.1 Generative Ai Acting As Catalyst For Transforming NLP Market 86
5.2.3.2 Need For Developing Big Data Technology For Actionable Business Intelligence 87
5.2.3.3 Increasing Demand For Effective Data Management And Advanced Data Analytics In Healthcare Sector 87
5.2.4 Challenges 88
5.2.4.1 Lack Of Multilingual Proficiency 88
5.2.4.2 Regulatory And Privacy Concerns Over Data Security 88
5.2.4.3 Interoperability And Reliability Issues While Deploying NLP Algorithms 88
5.3 Industry Trends 89
5.3.1 Natural Language Processing: Evolution 89
Figure 25 Natural Language Processing Market: Evolution 89
5.3.2 Natural Language Processing: Architecture 90
Figure 26 Natural Language Processing Market: Architecture 90
5.3.3 Value Chain Analysis 91
Figure 27 Natural Language Processing Market: Value Chain Analysis 92
5.3.4 Supply Chain Analysis 93
Figure 28 Natural Language Processing Market: Supply Chain Analysis 93
5.3.5 Ecosystem 93
Figure 29 Natural Language Processing Market: Ecosystem 94
Table 6 Natural Language Processing Market: Platform Providers 94
Table 7 Natural Language Processing Market: Software Providers 95
Table 8 Natural Language Processing Market: Service Providers 95
Table 9 Natural Language Processing Market: Framework And Toolkit Providers 95
Table 10 Natural Language Processing Market: Regulatory Bodies 96
5.3.6 Pricing Analysis 97
5.3.6.1 Selling Prices Of Key Players, By Application 97
Figure 30 Selling Prices Of Key Players For Top Three Applications 97
Table 11 Selling Prices Of Key Players For Top Three Applications (Usd) 97
5.3.6.2 Indicative Pricing Analysis Of NLP Software 97
Table 12 Natural Language Processing Products: Pricing Levels 98
5.4 Porter’s Five Forces Analysis 99
Figure 31 Porter’s Five Forces Analysis 99
Table 13 Porter’s Five Forces Analysis 99
5.4.1 Threat Of New Entrants 100
5.4.2 Threat Of Substitutes 100
5.4.3 Bargaining Power Of Suppliers 100
5.4.4 Bargaining Power Of Buyers 100
5.4.5 Intensity Of Competitive Rivalry 101
5.4.6 Trends/Disruptions Impacting Buyer/Client Business 101
Figure 32 Natural Language Processing Market: Trends/Disruptions Impacting Buyer/Client Business 101
5.4.7 Technology Analysis 101
Figure 33 Natural Language Processing Market: Technology Analysis 102
5.4.7.1 Key Technologies 102
5.4.7.1.1 Ai 102
5.4.7.1.2 Deep Learning 102
5.4.7.1.3 Speech Recognition 103
5.4.7.1.4 Speech-To-Text 104
5.4.7.1.5 Text-To-Speech 104
5.4.7.2 Complementary Technologies 105
5.4.7.2.1 Big Data 105
5.4.7.2.2 Cloud Computing 105
5.4.7.2.3 Iot 106
5.4.7.3 Adjacent Technologies 106
5.4.7.3.1 Blockchain 106
5.4.7.3.2 Cybersecurity 107
5.4.7.3.3 Graph Databases 107
5.4.8 Case Study Analysis 108
5.4.8.1 Banking, Financial Services, And Insurance 108
5.4.8.1.1 Case Study 1: National Bank Of Greece Modernized Its Analytics Platform With Sas Viya On Azure 108
5.4.8.1.2 Case Study 2: Hsbc Implemented Liveperson’s Conversational Ai Solutions With Intelligent Automation 109
5.4.8.1.3 Case Study 3: Observe.Ai's Auto Qa Revolutionized Compliance And Performance Optimization Of Financial Services Company 109
5.4.8.2 Healthcare & Life Sciences 110
5.4.8.2.1 Case Study 4: Tgh Urgent Care Streamlined Operations And Improved Patient Experience With Liveperson's Voice Bot 110
5.4.8.2.2 Case Study 5: Atrius Health Created Queries To Extract Clinical Data From Free-Text Fields Using Linguamatics I2e 111
5.4.8.2.3 Case Study 6: Huntsman Cancer Institute Optimized Research With Linguamatics NLP Platform 111
5.4.8.2.4 Case Study 7: Humana’s Voice Agent Reduced Costly Pre-Service Calls With Conversational Ai 112
5.4.8.3 It & Ites 113
5.4.8.3.1 Case Study 8: Telenor Adapted To Rapidly Changing Customer Expectations Using Sas Viya 113
5.4.8.4 Retail & Ecommerce 114
5.4.8.4.1 Case Study 9: Wehkamp Generated High-Quality Product Descriptions While Maintaining Seo Focus With Nlg 114
5.4.8.4.2 Case Study 10: Bitext's Multilingual Synthetic Training Data Transformed Customer Service 115
5.4.8.5 Government & Public Sector 116
5.4.8.5.1 Case Study 11: Azure Maps Weather Forecasted Data And Sas Event Stream Processing Predicted Flooding Time 116
5.4.8.6 Media & Entertainment 117
5.4.8.6.1 Case Study 12: Sweetwater Enhanced Customer Experience With Voicebase Conversation Intelligence 117
5.4.8.6.2 Case Study 13: Hearst Newspapers Used Google Cloud Natural Language Api For Content Classification 118
5.4.8.7 Travel & Hospitality 118
5.4.8.7.1 Case Study 14: Sas Gave Foxwoods Resort Casino Holistic View Of Resort Operations 118
5.4.9 Patent Analysis 119
5.4.9.1 Methodology 119
5.4.9.2 Document Type 119
Table 14 Patents Filed, 2013–2023 119
5.4.9.3 Innovation And Patent Applications 120
Figure 34 Total Number Of Patents Granted, 2013–2023 120
5.4.9.3.1 Top Applicants 120
Figure 35 Top Ten Companies With Highest Number Of Patent Applications, 2013–2023 120
Table 15 Top Twenty Patent Owners, 2013–2023 121
Table 16 List Of Patents In Natural Language Processing Market, 2021–2023 121
5.4.10 Key Conferences & Events, 2023–2024 123
Table 17 Detailed List Of Conferences & Events, 2023–2024 123
5.4.11 Tariffs And Regulatory Landscape 124
5.4.11.1 Regulatory Bodies, Government Agencies, And Other Organizations 124
Table 18 North America: List Of Regulatory Bodies, Government Agencies, And Other Organizations 124
Table 19 Europe: List Of Regulatory Bodies, Government Agencies, And Other Organizations 125
Table 20 Asia Pacific: List Of Regulatory Bodies, Government Agencies, And Other Organizations 127
Table 21 Row: List Of Regulatory Bodies, Government Agencies, And Other Organizations 128
5.4.11.1.1 North America 128
5.4.11.1.1.1 Us 128
5.4.11.1.1.2 Canada 128
5.4.11.1.2 Europe 128
5.4.11.1.3 Asia Pacific 128
5.4.11.1.3.1 South Korea 129
5.4.11.1.3.2 China 129
5.4.11.1.3.3 India 129
5.4.11.1.4.1 Uae 129
5.4.11.1.4.2 Ksa 129
5.4.11.1.4.3 Bahrain 129
5.4.11.1.5 Latin America 129
5.4.11.1.5.1 Brazil 130
5.4.11.1.5.2 Mexico 130
5.4.12 Key Stakeholders And Buying Criteria 130
Figure 36 Influence Of Stakeholders On Buying Process For Top Three Applications 130
Table 22 Influence Of Stakeholders On Buying Process For Top Three Applications 130
5.4.12.1 Buying Criteria 131
Figure 37 Key Buying Criteria For Top Three Applications 131
Table 23 Key Buying Criteria For Top Three Applications 131
5.4.13 Best Practices In Natural Language Processing Market 132
5.4.14 Technology Roadmap Of Natural Language Processing Market 133
Table 24 Short-Term Roadmap, 2023–2025 133
Table 25 Mid-Term Roadmap, 2026–2028 133
Table 26 Long-Term Roadmap, 2029–2030 134
5.4.15 Steps In Natural Language Processing 134
5.4.16 Business Models Of Natural Language Processing Market 136
5.4.16.1 NLP As A Service (NLPaas) 136
5.4.16.2 NLP Software And Tools Licensing 136
5.4.16.3 NLP Content Generation And Publishing 136
5.4.16.4 NLP Analytics And Insights 136
5.4.16.5 NLP Consulting And Custom Solutions 136

6 Natural Language Processing Market, By Offering 137
6.1 Introduction 138
6.1.1 Offering: Natural Language Processing Market Drivers 138
Figure 38 Services Segment To Witness Higher Cagr During Forecast Period 139
Table 27 Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 139
Table 28 Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 139
6.2 Solutions 140
6.2.1 NLP Solutions To Analyze Text, Voice, And Video Content, Enabling Ai Agents To Understand Nuances And Contexts Of Human Language 140
Figure 39 Software Tools Segment To Hold Largest Market Size During Forecast Period 140
Table 29 Natural Language Processing Market, By Solution, 2017–2022 (Usd Million) 140
Table 30 Natural Language Processing Market, By Solution, 2023–2028 (Usd Million) 140
Table 31 Solutions: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 141
Table 32 Solutions: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 141
6.2.2 Platforms 141
6.2.2.1 NLP Platforms To Provide Comprehensive Tools And Infrastructure 141
Table 33 Platforms: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 142
Table 34 Platforms: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 142
6.2.3 Software Tools 142
6.2.3.1 NLP Software Tools To Enable Users To Integrate NLP Capabilities With Existing Software 142
Table 35 Software Tools: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 143
Table 36 Software Tools: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 143
6.3 By Deployment Mode 143
6.3.1 Cloud Deployment Mode To Dominate Market Due To Its Scalability, Easy Availability, And Cost Savings 143
Figure 40 Cloud Segment To Hold Larger Market Size During Forecast Period 144
Table 37 Natural Language Processing Market, By Deployment Mode, 2017–2022 (Usd Million) 144
Table 38 Natural Language Processing Market, By Deployment Mode, 2023–2028 (Usd Million) 144
6.3.2 Cloud 145
6.3.2.1 Cloud System To Offer Flexibility For Business Operations And Real-Time Deployment Ease 145
Table 39 Cloud: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 145
Table 40 Cloud: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 145
6.3.3 On-Premises 146
6.3.3.1 On-Premises Solutions To Help In Data Validation, Standardization, And Robust Matching 146
Table 41 On-Premises: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 146
Table 42 On-Premises: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 146
6.4 Services 147
6.4.1 Services To Achieve Effective Software Operations And Increase Efficiency 147
Figure 41 Professional Services Segment To Hold Largest Market Size During Forecast Period 147
Table 43 Natural Language Processing Market, By Service, 2017–2022 (Usd Million) 147
Table 44 Natural Language Processing Market, By Service, 2023–2028 (Usd Million) 148
6.4.2 Professional Services 148
6.4.2.1 Professional Services To Support, Maintain, And Manage Installed Software 148
Figure 42 Training & Consulting Segment To Witness Highest Cagr During Forecast Period 148
Table 45 Professional Services: Natural Language Processing Market, By Type, 2017–2022 (Usd Million) 149
Table 46 Professional Services: Natural Language Processing Market, By Type, 2023–2028 (Usd Million) 149
Table 47 Professional Services: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 149
Table 48 Professional Services: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 149
6.4.2.2 Training & Consulting 150
Table 49 Training & Consulting: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 150
Table 50 Training & Consulting: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 151
6.4.2.3 System Integration & Implementation 151
Table 51 System Integration & Implementation: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 151
Table 52 System Integration & Implementation: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 152
6.4.2.4 Support & Maintenance 152
Table 53 Support & Maintenance: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 152
Table 54 Support & Maintenance: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 153
6.4.3 Managed Services 153
6.4.3.1 Managed Services To Offer Specialized Skills To Maintain And Update NLP Software And Services 153
Table 55 Managed Services: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 153
Table 56 Managed Services: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 154
6.4.3.2 NLP Model As A Service (Maas) 154
6.4.3.3 Chatbot As A Service (Caas) 154
6.4.3.4 Sentiment Analysis As A Service 154
6.4.3.5 Other Managed Services 155

7 Natural Language Processing Market, By Type 156
7.1 Introduction 157
7.1.1 Type: Natural Language Processing Market Drivers 157
Figure 43 Hybrid Natural Language Processing To Witness Highest Cagr During Forecast Period 157
Table 57 Natural Language Processing Market, By Type, 2017–2022 (Usd Million) 158
Table 58 Natural Language Processing Market, By Type, 2023–2028 (Usd Million) 158
7.2 Rule-Based 158
7.2.1 Rule-Based NLP To Use Extensive Linguistic Rules To Tag And Categorize Text More Accurately 158
Table 59 Rule-Based: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 159
Table 60 Rule-Based: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 159
7.3 Statistical 159
7.3.1 Statistical NLP To Focus On Statistical Models And Probabilistic Algorithms To Understand And Process Human Language 159
Table 61 Statistical: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 160
Table 62 Statistical: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 160
7.4 Hybrid 160
7.4.1 Hybrid NLP To Provide Versatile Solution To Tackle Diverse Challenges Of Language Understanding And Generation 160
Table 63 Hybrid: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 161
Table 64 Hybrid: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 161

8 Natural Language Processing Market, By Application 162
8.1 Introduction 163
8.1.1 Application: Natural Language Processing Market Drivers 163
Figure 44 Sentiment Analysis Application To Hold Largest Market Size During Forecast Period 164
Table 65 Natural Language Processing Market, By Application, 2017–2022 (Usd Million) 164
Table 66 Natural Language Processing Market, By Application, 2023–2028 (Usd Million) 165
8.2 Customer Experience Management 165
8.2.1 Customer Experience Management To Oversee, Organize, And Monitor Customer Interactions 165
Table 67 Customer Experience Management: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 166
Table 68 Customer Experience Management: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 166
8.3 Virtual Assistants/Chatbots 166
8.3.1 Chatbots To Facilitate Conversations Between Humans And Computers In Everyday Business Processes 166
Table 69 Virtual Assistants/Chatbots: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 167
Table 70 Virtual Assistants/Chatbots: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 167
8.3.2 Voice-Activated Virtual Assistants 167
8.3.2.1 Voice-Powered Virtual Assistants 168
8.3.2.2 Enterprise Virtual Assistants Chatbots 168
8.3.3 Ml-Based Chatbots 168
8.3.3.1 Intent Recognition 168
8.3.3.2 Dialog Management 169
8.3.4 Rule-Based Chatbots 169
8.3.4.1 Decision Tree-Based Chatbots 169
8.3.4.2 Scripted Chatbots 170
8.4 Social Media Monitoring 170
8.4.1 Social Media Monitoring To Enable Connecting With Customers, Providing Customer Support, And Measuring Social Media Reach 170
Table 71 Social Media Monitoring: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 171
Table 72 Social Media Monitoring: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 171
8.5 Sentiment Analysis 171
8.5.1 Sentiment Analysis To Identify Text Expressions, Gain Insights From Social Media Comments, And Detect Sentiments 171
Table 73 Sentiment Analysis: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 172
Table 74 Sentiment Analysis: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 172
8.5.2 Automated Sentiment Analysis 172
8.5.3 Fine-Grained Analysis 173
8.6 Text Classification & Summarization 173
8.6.1 Text Classification To Analyze Text And Assign Pre-Defined Tags Or Categories Based On Its Content 173
Table 75 Text Classification & Summarization: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 174
Table 76 Text Classification & Summarization: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 174
8.7 Employee Onboarding & Recruiting 174
8.7.1 Natural Language Processing To Perform Theme Analysis, Shortlist Best Applicants And Jobs, And Improve Hr Efficiency And Candidate Experience 174
Table 77 Employee Onboarding & Recruiting: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 175
Table 78 Employee Onboarding & Recruiting: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 175
8.8 Language Generation & Speech Recognition 175
8.8.1 Language Generation And Speech Recognition To Improve Communication, Automation, And Customer Engagement 175
Table 79 Language Generation & Speech Recognition: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 176
Table 80 Language Generation & Speech Recognition: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 176
8.8.2 Generative Pretrained Transformer 176
8.8.2.1 Fine-Tuned Models 177
8.8.2.2 Creative Content Generation 177
8.8.3 Natural Language Generation 177
8.8.3.1 Content Templates 178
8.8.3.2 Data-To-Text Generation 178
8.8.4 Automatic Speech Recognition (Asr) 179
8.8.4.1 Speaker Recognition 179
8.8.4.2 Speech-To-Text Conversation 180
8.8.5 Speech Synthesis 180
8.8.5.1 Text-To-Speech (Tts) Conversion 180
8.8.5.2 Emotive & Expressive Tts 181
8.9 Machine Translation 181
8.9.1 Machine Translation To Facilitate Communication And Break Down Language Barriers Across Various Domains 181
Table 81 Machine Translation: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 182
Table 82 Machine Translation: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 182
8.9.2 Neural Machine Translation (Nmt) 182
8.9.2.1 Language Pair-Specific Nmt 183
8.9.2.2 Domain-Specific Nmt 183
8.9.3 Statistical Machine Translation (Smt) 183
8.9.3.1 Phrase-Based Smt 184
8.9.3.2 Rule-Based Smt 184
8.10 Other Applications 184
Table 83 Other Applications: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 185
Table 84 Other Applications: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 185

9 Natural Language Processing Market, By Technology 186
9.1 Introduction 187
9.1.1 Technology: Natural Language Processing Market Drivers 187
Figure 45 Image & Pattern Recognition Segment To Grow At Highest Cagr During Forecast Period 187
Table 85 Natural Language Processing Market, By Technology, 2017–2022 (Usd Million) 188
Table 86 Natural Language Processing Market, By Technology, 2023–2028 (Usd Million) 188
9.2 Optical Character Recognition 188
9.2.1 Optical Character Recognition To Revolutionize Text Analysis And Information Extraction 188
Table 87 Optical Character Recognition: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 189
Table 88 Optical Character Recognition: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 189
9.3 Interactive Voice Response 189
9.3.1 Interactive Voice Response To Enhance Customer Service And User Experiences 189
Table 89 Interactive Voice Response: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 190
Table 90 Interactive Voice Response: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 190
9.4 Auto Coding 190
9.4.1 Auto Coding To Streamline Data Analysis And Information Retrieval 190
Table 91 Auto Coding: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 191
Table 92 Auto Coding: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 191
9.5 Text Analytics 191
9.5.1 Text Analytics To Empower Informed Decision-Making With Text Mining 191
Table 93 Text Analytics: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 192
Table 94 Text Analytics: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 192
9.5.2 Entity Recognition 192
9.5.2.1 Named Entity Recognition (Ner) 192
9.5.2.2 Entity Linking And Disambiguation 193
9.5.3 Topic Modeling 193
9.5.3.1 Latent Dirichlet Allocation (Lda) 194
9.5.3.2 Non-Negative Matrix Factorization (Nmf) 194
9.5.4 Text Classification 194
9.5.4.1 Binary Classification 195
9.5.4.2 Multi-Class Classification 195
9.6 Speech Analytics 196
9.6.1 Speech Analytics To Transform Customer Service And Business Intelligence 196
Table 95 Speech Analytics: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 196
Table 96 Speech Analytics: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 197
9.7 Image & Pattern Recognition 197
9.7.1 Image & Pattern Recognition To Bridge Gap Between Text And Images 197
Table 97 Image & Pattern Recognition: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 197
Table 98 Image & Pattern Recognition: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 198
9.8 Simulation & Modeling 198
9.8.1 Simulation & Modeling To Enable Creation Of Virtual Language-Based Environment 198
Table 99 Simulation & Modelling: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 198
Table 100 Simulation & Modelling: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 199

10 Natural Language Processing Market, By Vertical 200
10.1 Introduction 201
10.1.1 Vertical: Natural Language Processing Market Drivers 201
Table 101 Major Use Cases, By Vertical 202
Figure 46 Healthcare & Life Sciences Vertical To Register Highest Cagr During Forecast Period 203
Table 102 Natural Language Processing Market, By Vertical, 2017–2022 (Usd Million) 204
Table 103 Natural Language Processing Market, By Vertical, 2023–2028 (Usd Million) 204
10.2 Bfsi 205
Table 104 Bfsi: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 205
Table 105 Bfsi: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 205
10.2.1 Fraud Detection 206
10.2.1.1 Transaction Fraud Detection 206
10.2.1.2 Identity Fraud Detection 206
10.2.2 Algorithmic Trading 207
10.2.2.1 Stock Price Prediction Diagnosis 207
10.2.2.2 Trading Strategy Optimization 208
10.2.3 Risk Assessment 208
10.2.3.1 Credit Scoring 208
10.2.3.2 Insurance Underwriting 208
10.3 It & Ites 209
Table 106 It & Ites: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 209
Table 107 It & Ites: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 209
10.3.1 Help Desk & It Support Services 210
10.3.2 Code Review & Documentation 210
10.4 Retail & Ecommerce 211
Table 108 Retail & Ecommerce: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 211
Table 109 Retail & Ecommerce: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 211
10.4.1 Product Recommendation 212
10.4.1.1 Personalized Product Recommendation 212
10.4.1.2 Cross-Selling And Upselling 212
10.4.2 Search Engine Optimization 213
10.4.2.1 Enhanced Search Algorithm 213
10.4.2.2 Voice-Enabled Shopping 213
10.4.3 Customer Support & Engagement 214
10.4.3.1 Chatbots For Customer Queries 214
10.4.3.2 Personalized Shopping Assistance 214
10.4.4 Inventory Management 215
10.4.4.1 Demand Forecasting 215
10.4.4.2 Stock-Level Optimization 215
10.4.5 Market Research & Competitive Analysis 216
10.4.5.1 Consumer Sentiment Analysis 216
10.4.5.2 Competitor Price Monitoring 216
10.5 Healthcare & Life Sciences 217
Table 110 Healthcare & Life Sciences: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 217
Table 111 Healthcare & Life Sciences: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 217
10.5.1 Clinical Documentation 218
10.5.1.1 Ehr Analysis 218
10.5.1.2 Medical Coding 218
10.5.2 Medical Diagnosis 219
10.5.2.1 Disease Diagnosis 219
10.5.2.2 Treatment Recommendation 219
10.5.3 Pharmaceuticals 219
10.5.3.1 Drug Discovery 220
10.5.3.2 Pharmacovigilance & Drug Safety 220
10.5.4 Patient Care 220
10.5.4.1 Virtual Health Assistants 221
10.5.4.2 Telemedicine Support 221
10.6 Transportation & Logistics 221
Table 112 Transportation & Logistics: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 222
Table 113 Transportation & Logistics: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 222
10.6.1 Route Optimization 222
10.6.1.1 Efficient Logistics Planning 222
10.6.1.2 Traffic Analysis 223
10.6.2 Fleet Management 223
10.6.2.1 Predictive Maintenance 223
10.6.2.2 Driver Behavior Analysis 223
10.7 Government & Public Sector 224
Table 114 Government & Public Sector: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 224
Table 115 Government & Public Sector: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 224
10.7.1 Public Services 225
10.7.1.1 Citizen Interaction & Support 225
10.7.1.2 Administrative Document Processing 225
10.7.2 Security & Intelligence 225
10.7.2.1 Text Analysis For Threat Detection 226
10.7.2.2 Intelligent Report Summarization 226
10.8 Media & Entertainment 226
Table 116 Media & Entertainment: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 227
Table 117 Media & Entertainment: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 227
10.8.1 Content Personalization 227
10.8.1.1 Recommendation Engine 228
10.8.1.2 Content Tagging & Curation 228
10.8.2 News & Content Analysis 228
10.8.2.1 Automated News Summarization 228
10.8.2.2 Trend Analysis 229
10.9 Manufacturing 229
Table 118 Manufacturing: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 229
Table 119 Manufacturing: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 230
10.9.1 Quality Control 230
10.9.1.1 Defect Detection In Production 230
10.9.1.2 Automated Inspection 230
10.9.2 Supply Chain Optimization 231
10.9.2.1 Demand Forecasting 231
10.9.2.2 Supplier Communication 231
10.10 Telecom 232
Table 120 Telecom: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 232
Table 121 Telecom: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 232
10.10.1 Network Monitoring & Maintenance 233
10.10.2 Automated Customer Service 233
10.11 Other Verticals 233
Table 122 Other Verticals: Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 234
Table 123 Other Verticals: Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 234

11 Natural Language Processing Market, By Region 235
11.1 Introduction 236
Figure 47 India To Witness Highest Cagr During Forecast Period 236
Figure 48 Asia Pacific To Account For Highest Cagr During Forecast Period 237
Table 124 Natural Language Processing Market, By Region, 2017–2022 (Usd Million) 237
Table 125 Natural Language Processing Market, By Region, 2023–2028 (Usd Million) 237
11.2 North America 238
11.2.1 North America: Natural Language Processing Market Drivers 238
11.2.2 North America: Impact Of Recession 238
Figure 49 North America: Market Snapshot 239
Table 126 North America: Natural Language Processing Market, By Country, 2017–2022 (Usd Million) 239
Table 127 North America: Natural Language Processing Market, By Country, 2023–2028 (Usd Million) 240
Table 128 North America: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 240
Table 129 North America: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 240
Table 130 North America: Natural Language Processing Market, By Solution, 2017–2022 (Usd Million) 240
Table 131 North America: Natural Language Processing Market, By Solution, 2023–2028 (Usd Million) 241
Table 132 North America: Natural Language Processing Market, By Deployment Mode, 2017–2022 (Usd Million) 241
Table 133 North America: Natural Language Processing Market, By Deployment Mode, 2023–2028 (Usd Million) 241
Table 134 North America: Natural Language Processing Market, By Service, 2017–2022 (Usd Million) 241
Table 135 North America: Natural Language Processing Market, By Service, 2023–2028 (Usd Million) 242
Table 136 North America: Natural Language Processing Market, By Professional Service, 2017–2022 (Usd Million) 242
Table 137 North America: Natural Language Processing Market, By Professional Service, 2023–2028 (Usd Million) 242
Table 138 North America: Natural Language Processing Market, By Type, 2017–2022 (Usd Million) 242
Table 139 North America: Natural Language Processing Market, By Type, 2023–2028 (Usd Million) 243
Table 140 North America: Natural Language Processing Market, By Application, 2017–2022 (Usd Million) 243
Table 141 North America: Natural Language Processing Market, By Application, 2023–2028 (Usd Million) 243
Table 142 North America: Natural Language Processing Market, By Technology, 2017–2022 (Usd Million) 244
Table 143 North America: Natural Language Processing Market, By Technology, 2023–2028 (Usd Million) 244
Table 144 North America: Natural Language Processing Market, By Vertical, 2017–2022 (Usd Million) 245
Table 145 North America: Natural Language Processing Market, By Vertical, 2023–2028 (Usd Million) 245
11.2.3 Us 246
11.2.3.1 Presence Of Leading Tech Companies And Consciousness Of Ai To Propel Market 246
Table 146 Us: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 247
Table 147 Us: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 247
11.2.4 Canada 247
11.2.4.1 Focus On Ai And Government Investment To Adopt New Digital Economy To Drive Market 247
Table 148 Canada: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 248
Table 149 Canada: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 248
11.3 Europe 248
11.3.1 Europe: Natural Language Processing Market Drivers 249
11.3.2 Europe: Impact Of Recession 249
Table 150 Europe: Natural Language Processing Market, By Country, 2017–2022 (Usd Million) 250
Table 151 Europe: Natural Language Processing Market, By Country, 2023–2028 (Usd Million) 250
Table 152 Europe: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 250
Table 153 Europe: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 250
Table 154 Europe: Natural Language Processing Market, By Solution, 2017–2022 (Usd Million) 251
Table 155 Europe: Natural Language Processing Market, By Solution, 2023–2028 (Usd Million) 251
Table 156 Europe: Natural Language Processing Market, By Service, 2017–2022 (Usd Million) 251
Table 157 Europe: Natural Language Processing Market, By Service, 2023–2028 (Usd Million) 251
Table 158 Europe: Natural Language Processing Market, By Professional Service, 2017–2022 (Usd Million) 252
Table 159 Europe: Natural Language Processing Market, By Professional Service, 2023–2028 (Usd Million) 252
Table 160 Europe: Natural Language Processing Market, By Deployment Mode, 2017–2022 (Usd Million) 252
Table 161 Europe: Natural Language Processing Market, By Deployment Mode, 2023–2028 (Usd Million) 252
Table 162 Europe: Natural Language Processing Market, By Type, 2017–2022 (Usd Million) 253
Table 163 Europe: Natural Language Processing Market, By Type, 2023–2028 (Usd Million) 253
Table 164 Europe: Natural Language Processing Market, By Application, 2017–2022 (Usd Million) 253
Table 165 Europe: Natural Language Processing Market, By Application, 2023–2028 (Usd Million) 254
Table 166 Europe: Natural Language Processing Market, By Technology, 2017–2022 (Usd Million) 254
Table 167 Europe: Natural Language Processing Market, By Technology, 2023–2028 (Usd Million) 255
Table 168 Europe: Natural Language Processing Market, By Vertical, 2017–2022 (Usd Million) 255
Table 169 Europe: Natural Language Processing Market, By Vertical, 2023–2028 (Usd Million) 256
11.3.3 Uk 256
11.3.3.1 Government Investments, Initiatives, And Strict Regulations To Boost Demand For NLP Solutions 256
Table 170 Uk: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 257
Table 171 Uk: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 257
11.3.4 Germany 258
11.3.4.1 Highly Skilled Labor Force And Strong Infrastructure To Boost Demand For NLP Solutions 258
Table 172 Germany: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 258
Table 173 Germany: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 258
11.3.5 France 258
11.3.5.1 Surge In Ai Startups Due To Significant Capital Inflow From Investors To Propel Market 258
Table 174 France: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 259
Table 175 France: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 259
11.3.6 Spain 259
11.3.6.1 Commitment To Scientific And Academic Exchange In Entrepreneurial Sector To Drive Market 259
Table 176 Spain: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 260
Table 177 Spain: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 260
11.3.7 Rest Of Europe 261
Table 178 Rest Of Europe: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 261
Table 179 Rest Of Europe: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 261
11.4 Asia Pacific 262
11.4.1 Asia Pacific: Natural Language Processing Market Drivers 263
11.4.2 Asia Pacific: Impact Of Recession 263
Figure 50 Asia Pacific: Market Snapshot 264
Table 180 Asia Pacific: Natural Language Processing Market, By Country/Region, 2017–2022 (Usd Million) 264
Table 181 Asia Pacific: Natural Language Processing Market, By Country/Region, 2023–2028 (Usd Million) 265
Table 182 Asia Pacific: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 265
Table 183 Asia Pacific: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 265
Table 184 Asia Pacific: Natural Language Processing Market, By Solution, 2017–2022 (Usd Million) 265
Table 185 Asia Pacific: Natural Language Processing Market, By Solution, 2023–2028 (Usd Million) 266
Table 186 Asia Pacific: Natural Language Processing Market, By Service, 2017–2022 (Usd Million) 266
Table 187 Asia Pacific: Natural Language Processing Market, By Service, 2023–2028 (Usd Million) 266
Table 188 Asia Pacific: Natural Language Processing Market, By Professional Service, 2017–2022 (Usd Million) 266
Table 189 Asia Pacific: Natural Language Processing Market, By Professional Service, 2023–2028 (Usd Million) 267
Table 190 Asia Pacific: Natural Language Processing Market, By Deployment Mode, 2017–2022 (Usd Million) 267
Table 191 Asia Pacific: Natural Language Processing Market, By Deployment Mode, 2023–2028 (Usd Million) 267
Table 192 Asia Pacific: Natural Language Processing Market, By Type, 2017–2022 (Usd Million) 267
Table 193 Asia Pacific: Natural Language Processing Market, By Type, 2023–2028 (Usd Million) 268
Table 194 Asia Pacific: Natural Language Processing Market, By Application, 2017–2022 (Usd Million) 268
Table 195 Asia Pacific: Natural Language Processing Market, By Application, 2023–2028 (Usd Million) 268
Table 196 Asia Pacific: Natural Language Processing Market, By Technology, 2017–2022 (Usd Million) 269
Table 197 Asia Pacific: Natural Language Processing Market, By Technology, 2023–2028 (Usd Million) 269
Table 198 Asia Pacific: Natural Language Processing Market, By Vertical, 2017–2022 (Usd Million) 270
Table 199 Asia Pacific: Natural Language Processing Market, By Vertical, 2023–2028 (Usd Million) 270
11.4.3 China 271
11.4.3.1 Development Of Chatbots, Virtual Assistants, And Smart Devices To Fuel Demand For NLP Solutions 271
Table 200 China: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 271
Table 201 China: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 272
11.4.4 Japan 272
11.4.4.1 Advanced Technological Infrastructure To Fuel Demand For NLP Solutions 272
Table 202 Japan: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 272
Table 203 Japan: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 273
11.4.5 India 273
11.4.5.1 Availability Of Skilled Workforce At Reasonable Costs, Development Of Infrastructure, Technological Capabilities, And Government Support To Propel Market 273
Table 204 India: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 274
Table 205 India: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 274
11.4.6 Asean Countries 274
11.4.6.1 Presence Of Big Tech Companies And Funding From Multinational Corporations To Drive Market 274
Table 206 Asean Countries: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 275
Table 207 Asean Countries: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 275
11.4.7 Rest Of Asia Pacific 275
Table 208 Rest Of Asia Pacific: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 276
Table 209 Rest Of Asia Pacific: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 276
11.5 Middle East & Africa 276
11.5.1 Middle East & Africa: Natural Language Processing Market Drivers 277
11.5.2 Middle East & Africa: Impact Of Recession 277
Table 210 Middle East & Africa: Natural Language Processing Market, By Country/Region, 2017–2022 (Usd Million) 277
Table 211 Middle East & Africa: Natural Language Processing Market, By Country/Region, 2023–2028 (Usd Million) 278
Table 212 Middle East & Africa: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 278
Table 213 Middle East & Africa: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 278
Table 214 Middle East & Africa: Natural Language Processing Market, By Solution, 2017–2022 (Usd Million) 278
Table 215 Middle East & Africa: Natural Language Processing Market, By Solution, 2023–2028 (Usd Million) 279
Table 216 Middle East & Africa: Natural Language Processing Market, By Service, 2017–2022 (Usd Million) 279
Table 217 Middle East & Africa: Natural Language Processing Market, By Service, 2023–2028 (Usd Million) 279
Table 218 Middle East & Africa: Natural Language Processing Market, By Professional Service, 2017–2022 (Usd Million) 279
Table 219 Middle East & Africa: Natural Language Processing Market, By Professional Service, 2023–2028 (Usd Million) 280
Table 220 Middle East & Africa: Natural Language Processing Market, By Deployment Mode, 2017–2022 (Usd Million) 280
Table 221 Middle East & Africa: Natural Language Processing Market, By Deployment Mode, 2023–2028 (Usd Million) 280
Table 222 Middle East & Africa: Natural Language Processing Market, By Type, 2017–2022 (Usd Million) 280
Table 223 Middle East & Africa: Natural Language Processing Market, By Type, 2023–2028 (Usd Million) 281
Table 224 Middle East & Africa: Natural Language Processing Market, By Application, 2017–2022 (Usd Million) 281
Table 225 Middle East & Africa: Natural Language Processing Market, By Application, 2023–2028 (Usd Million) 282
Table 226 Middle East & Africa: Natural Language Processing Market, By Technology, 2017–2022 (Usd Million) 282
Table 227 Middle East & Africa: Natural Language Processing Market, By Technology, 2023–2028 (Usd Million) 283
Table 228 Middle East & Africa: Natural Language Processing Market, By Vertical, 2017–2022 (Usd Million) 283
Table 229 Middle East & Africa: Natural Language Processing Market, By Vertical, 2023–2028 (Usd Million) 284
11.5.3 Ksa 284
11.5.3.1 Technological Advancement And Economic Diversification Through Vision 2030 Initiative To Drive Market 284
Table 230 Ksa: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 285
Table 231 Ksa: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 285
11.5.4 Uae 285
11.5.4.1 Implementation Of National Artificial Intelligence Strategy 2031 To Drive Market 285
Table 232 Uae: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 286
Table 233 Uae: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 286
11.5.5 South Africa 286
11.5.5.1 Strong Focus On Research & Development And Implementing The National Development Plan (Ndp) And Vision For 2023 To Propel Market 286
Table 234 South Africa: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 287
Table 235 South Africa: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 287
11.5.6 Rest Of Middle East & Africa 287
Table 236 Rest Of Middle East & Africa: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 288
Table 237 Rest Of Middle East & Africa: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 288
11.6 Latin America 288
11.6.1 Latin America: Natural Language Processing Market Drivers 289
11.6.2 Latin America: Impact Of Recession 289
Table 238 Latin America: Natural Language Processing Market, By Country, 2017–2022 (Usd Million) 290
Table 239 Latin America: Natural Language Processing Market, By Country, 2023–2028 (Usd Million) 290
Table 240 Latin America: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 290
Table 241 Latin America: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 290
Table 242 Latin America: Natural Language Processing Market, By Solution, 2017–2022 (Usd Million) 291
Table 243 Latin America: Natural Language Processing Market, By Solution, 2023–2028 (Usd Million) 291
Table 244 Latin America: Natural Language Processing Market, By Service, 2017–2022 (Usd Million) 291
Table 245 Latin America: Natural Language Processing Market, By Service, 2023–2028 (Usd Million) 291
Table 246 Latin America: Natural Language Processing Market, By Professional Service, 2017–2022 (Usd Million) 292
Table 247 Latin America: Natural Language Processing Market, By Professional Service, 2023–2028 (Usd Million) 292
Table 248 Latin America: Natural Language Processing Market, By Deployment Mode, 2017–2022 (Usd Million) 292
Table 249 Latin America: Natural Language Processing Market, By Deployment Mode, 2023–2028 (Usd Million) 292
Table 250 Latin America: Natural Language Processing Market, By Type, 2017–2022 (Usd Million) 293
Table 251 Latin America: Natural Language Processing Market, By Type, 2023–2028 (Usd Million) 293
Table 252 Latin America: Natural Language Processing Market, By Application, 2017–2022 (Usd Million) 293
Table 253 Latin America: Natural Language Processing Market, By Application, 2023–2028 (Usd Million) 294
Table 254 Latin America: Natural Language Processing Market, By Technology, 2017–2022 (Usd Million) 294
Table 255 Latin America: Natural Language Processing Market, By Technology, 2023–2028 (Usd Million) 295
Table 256 Latin America: Natural Language Processing Market, By Vertical, 2017–2022 (Usd Million) 295
Table 257 Latin America: Natural Language Processing Market, By Vertical, 2023–2028 (Usd Million) 296
11.6.3 Brazil 296
11.6.3.1 Government Initiatives Including Digital Transformation Strategies And Policies To Drive Market 296
Table 258 Brazil: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 297
Table 259 Brazil: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 297
11.6.4 Mexico 297
11.6.4.1 Increasing Government Support For Emerging Technologies To Propel Demand For NLP Solutions 297
Table 260 Mexico: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 298
Table 261 Mexico: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 298
11.6.5 Rest Of Latin America 298
Table 262 Rest Of Latin America: Natural Language Processing Market, By Offering, 2017–2022 (Usd Million) 299
Table 263 Rest Of Latin America: Natural Language Processing Market, By Offering, 2023–2028 (Usd Million) 299

12 Competitive Landscape 300
12.1 Overview 300
12.2 Strategies Adopted By Key Players 300
Table 264 Overview Of Strategies Adopted By Key NLP Vendors 300
12.3 Revenue Analysis 302
12.3.1 Business Segment Revenue Analysis 302
Figure 51 Business Segment Revenue Analysis Of Top Five Leading Players, 2020–2022 (Usd Million) 302
12.4 Market Share Analysis 303
Figure 52 Market Share Analysis, 2020–2022 303
Table 265 Natural Language Processing Market: Intensity Of Competitive Rivalry 304
12.5 Company Evaluation Matrix For Key Players 304
12.5.1 Stars 304
12.5.2 Emerging Leaders 304
12.5.3 Pervasive Players 305
12.5.4 Participants 305
Figure 53 Natural Language Processing Market: Key Company Evaluation Matrix, 2023 305
12.6 Competitive Benchmarking For Key Players 306
12.6.1 Company Product Footprint 306
Figure 54 Product Portfolio Analysis Of Top Players 306
Table 266 Competitive Benchmarking Of Key Players, 2023 307
12.7 Company Evaluation Matrix For Startups/Smes 308
12.7.1 Progressive Companies 308
12.7.2 Responsive Companies 308
12.7.3 Dynamic Companies 308
12.7.4 Starting Blocks 308
Figure 55 Natural Language Processing Market: Startups/Smes
Evaluation Matrix, 2023 309
12.8 Competitive Benchmarking For Startups/Smes 310
Table 267 Competitive Benchmarking Of Smes/Startups, 2023 310
Table 268 Detailed List Of Key Smes/Startups 311
12.9 Brand/Product Comparative Analysis 312
12.9.1 Comparative Analysis Of Natural Language Processing Products 312
Table 269 Comparative Analysis Of Natural Language Processing Products 312
12.10 Valuation And Financial Metrics Of Key Vendors 313
Figure 56 Valuation And Financial Metrics Of Key Vendors 313
12.11 Company Financial Metrics 313
Figure 57 Company Financial Metrics, 2023 313
12.12 Competitive Scenario And Trends 314
12.12.1 New Product Launches And Enhancements 314
Table 270 Product Launches And Enhancements, 2020–2023 314
12.12.2 Deals 318
Table 271 Deals, 2020–2023 318
12.12.3 Others 323
Table 272 Others, 2020–2023 323

13 Company Profiles 324
(Business Overview, Products/Solutions/Services Offered, Recent Developments, Mnm View, Right To Win, Strategic Choices, Weaknesses And Competitive Threats)*
13.1 Introduction 324
13.2 Key Players 325
13.2.1 Ibm 325
Table 273 Ibm: Business Overview 326
Figure 58 Ibm: Company Snapshot 326
Table 274 Ibm: Products/Solutions/Services Offered 327
Table 275 Ibm: Product Launches And Enhancements 328
Table 276 Ibm: Deals 328
Table 277 Ibm: Others 329
13.2.2 Microsoft 331
Table 278 Microsoft: Business Overview 331
Figure 59 Microsoft: Company Snapshot 332
Table 279 Microsoft: Products/Solutions/Services Offered 332
Table 280 Microsoft: Product Launches And Enhancements 334
Table 281 Microsoft: Deals 335
13.2.3 Google 338
Figure 60 Google: Company Snapshot 339
13.2.4 Aws 346
Table 287 Aws: Business Overview 346
Figure 61 Aws: Company Snapshot 346
Table 288 Aws: Products/Solutions/Services Offered 347
Table 289 Aws: Product Launches And Enhancements 348
Table 291 Aws: Others 350
13.2.5 Meta 351
Table 292 Meta: Business Overview 351
Figure 62 Meta: Company Snapshot 352
Table 293 Meta: Products/Solutions/Services Offered 352
Table 294 Meta: Product Launches And Enhancements 353
Table 295 Meta: Deals 355
13.2.6 3m 357
Table 296 3m: Business Overview 357
Figure 63 3m: Company Snapshot 358
Table 297 3m: Products/Solutions/Services Offered 358
Table 298 3m: Deals 359
13.2.7 Baidu 360
Table 299 Baidu: Business Overview 360
Figure 64 Baidu: Company Snapshot 361
Table 300 Baidu: Products/Solutions/Services Offered 361
Table 301 Baidu: Product Launches And Enhancements 362
Table 302 Baidu: Deals 363
13.2.8 Apple 364
Table 303 Apple: Business Overview 364
Figure 65 Apple: Company Snapshot 365
Table 304 Apple: Products/Solutions/Services Offered 365
Table 305 Apple: Product Launches And Enhancements 366
Table 306 Apple: Deals 366
13.2.9 Sas Institute 367
Table 307 Sas Institute: Business Overview 367
Table 308 Sas Institute: Products/Solutions/Services Offered 367
Table 309 Sas Institute: Product Launches And Enhancements 368
Table 310 Sas Institute: Deals 368
13.2.10 Oracle 370
Table 311 Oracle: Business Overview 370
Figure 66 Oracle: Company Snapshot 371
Table 312 Oracle: Products/Solutions/Services Offered 371
Table 313 Oracle: Product Launches And Enhancements 372
Table 314 Oracle: Deals 373
13.2.11 Salesforce 374
Table 315 Salesforce: Business Overview 374
Figure 67 Salesforce: Company Snapshot 375
Table 316 Salesforce: Products/Solutions/Services Offered 375
Table 317 Salesforce: Product Launches And Enhancements 376
Table 318 Salesforce: Deals 377
Table 319 Salesforce: Others 377
13.2.12 Openai 378
Table 320 Openai: Business Overview 378
Table 321 Openai: Products/Solutions/Services Offered 378
Table 322 Openai: Product Launches And Enhancements 379
Table 323 Openai: Deals 380
Table 324 Openai: Others 380
13.2.13 Iqvia 381
Table 325 Iqvia: Business Overview 381
Figure 68 Iqvia: Company Snapshot 382
Table 326 Iqvia: Products/Solutions/Services Offered 382
Table 327 Iqvia: Deals 383
13.2.14 Liveperson 384
Table 328 Liveperson: Business Overview 384
Figure 69 Liveperson: Company Snapshot 385
Table 329 Liveperson: Products/Solutions/Services Offered 385
Table 330 Liveperson: Product Launches And Enhancements 386
Table 331 Liveperson: Deals 387
13.2.15 Soundhound Ai 390
Table 332 Soundhound Ai: Business Overview 390
Figure 70 Soundhound Ai: Company Snapshot 391
Table 333 Soundhound Ai: Products/Solutions/Services Offered 391
Table 334 Soundhound Ai: Product Launches And Enhancements 393
Table 335 Soundhound Ai: Deals 394
13.2.16 Dolbey 396
Table 336 Dolbey: Business Overview 396
Table 337 Dolbey: Products/Solutions/Services Offered 396
Table 338 Dolbey: Deals 397
13.2.17 Inbenta 398
13.2.18 Veritone 399
13.2.19 Mindmeld, Inc 400
13.2.20 Automated Insights 401
13.2.21 Bitext 402
13.2.22 Conversica 403
13.2.23 Uipath 404
*Details On Business Overview, Products Offered, Recent Developments, Mnm View, Key Strengths, Strategic Choices, Weaknesses And Competitive Threats Might Not Be Captured In Case Of Unlisted Companies.
13.3 Startups/Smes 405
13.3.1 Addepto 405
13.3.2 Ragavera 406
13.3.3 Observe.Ai 407
13.3.4 Eigen Technologies 408
13.3.5 Gnani.Ai 409
13.3.6 Crayon Data 410
13.3.7 Narrativa 410
13.3.8 Deepset 411
13.3.9 Ellipsis Health 411
13.3.10 Dheeyantra 412
13.3.11 Verbit.Ai 413
13.3.12 Rasa 414
13.3.13 Textrazor 415
13.3.14 Monkeylearn 415
13.3.15 Cohere 416

14 Adjacent And Related Markets 417
14.1 Introduction 417
14.1.1 Conversational Ai Market – Global Forecast To 2028 417
14.1.1.1 Market Definition 417
14.1.1.2 Market Overview 417
Table 339 Global Conversational Ai Market Size And Growth Rate, 2018–2022 (Usd Million, Y-O-Y%) 419
Table 340 Global Conversational Ai Market Size And Growth Rate, 2023–2028 (Usd Million, Y-O-Y%) 419
14.1.1.2.1 Conversational Ai Market, By Offering 419
Table 341 Conversational Ai Market, By Offering, 2018–2022 (Usd Million) 419
Table 342 Conversational Ai Market, By Offering, 2023–2028 (Usd Million) 419
14.1.1.2.2 Conversational Ai Services Market, By Type 420
Table 343 Conversational Ai Services Market, By Type, 2018–2022 (Usd Million) 420
Table 344 Conversational Ai Services Market, By Type, 2023–2028 (Usd Million) 420
14.1.1.2.3 Conversational Ai Market, By Business Function 421
Table 345 Conversational Ai Market, By Business Function, 2018–2022 (Usd Million) 421
Table 346 Conversational Ai Market, By Business Function, 2023–2028 (Usd Million) 421
14.1.1.2.4 Conversational Ai Market, By Channel 421
Table 347 Conversational Ai Market, By Channel, 2018–2022 (Usd Million) 422
Table 348 Conversational Ai Market, By Channel, 2023–2028 (Usd Million) 422
14.1.1.2.5 Conversational Ai Market, By Conversational Interface 422
Table 349 Conversational Ai Market, By Conversational Interface, 2018–2022 (Usd Million) 422
Table 350 Conversational Ai Market, By Conversational Interface, 2023–2028 (Usd Million) 423
14.1.1.2.6 Conversational Ai Market, By Technology 423
Table 351 Conversational Ai Market, By Technology, 2018–2022 (Usd Million) 423
Table 352 Conversational Ai Market, By Technology, 2023–2028 (Usd Million) 423
14.1.1.2.7 Conversational Ai Market, By Vertical 424
Table 353 Conversational Ai Market, By Vertical, 2018–2022 (Usd Million) 424
Table 354 Conversational Ai Market, By Vertical, 2023–2028 (Usd Million) 424
14.1.1.2.8 Conversational Ai Market, By Region 425
Table 355 Conversational Ai Market, By Region, 2018–2022 (Usd Million) 425
Table 356 Conversational Ai Market, By Region, 2023–2028 (Usd Million) 425
14.1.2 Chatbot Market – Global Forecast To 2028 426
14.1.2.1 Market Definition 426
14.1.2.2 Market Overview 426
Table 357 Global Chatbot Market Size And Growth Rate, 2017–2022 (Usd Million, Y-O-Y %) 428
Table 358 Global Chatbot Market Size And Growth Rate, 2023–2028 (Usd Million, Y-O-Y %) 428
14.1.2.2.1 Chatbot Market, By Offering 428
Table 359 Chatbot Market, By Offering, 2017–2022 (Usd Million) 428
Table 360 Chatbot Market, By Offering, 2023–2028 (Usd Million) 429
14.1.2.2.2 Chatbot Market, By Solution 429
Table 361 Chatbot Market, By Solution, 2017–2022 (Usd Million) 429
Table 362 Chatbot Market, By Solution, 2023–2028 (Usd Million) 429
14.1.2.2.3 Chatbot Market, By Service 430
Table 363 Services: Chatbot Market, By Type, 2017–2022 (Usd Million) 430
Table 364 Services: Chatbot Market, By Type, 2023–2028 (Usd Million) 430
14.1.2.2.4 Chatbot Market, By Type 430
Table 365 Chatbot Market, By Type, 2017–2022 (Usd Million) 431
Table 366 Chatbot Market, By Type, 2023–2028 (Usd Million) 431
14.1.2.2.5 Chatbot Market, By Channel Integration 431
Table 367 Chatbot Market, By Channel Integration, 2017–2022 (Usd Million) 432
Table 368 Chatbot Market, By Channel Integration, 2023–2028 (Usd Million) 432
14.1.2.2.6 Chatbot Market, By Bot Communication 432
Table 369 Chatbot Market, By Bot Communication, 2017–2022 (Usd Million) 432
Table 370 Chatbot Market, By Bot Communication, 2023–2028 (Usd Million) 433
14.1.2.2.7 Chatbot Market, By Business Function 433
Table 371 Chatbot Market, By Business Function, 2017–2022 (Usd Million) 433
Table 372 Chatbot Market, By Business Function, 2023–2028 (Usd Million) 434
14.1.2.2.8 Chatbot Market, By Vertical 434
Table 373 Chatbot Market, By Vertical, 2017–2022 (Usd Million) 434
Table 374 Chatbot Market, By Vertical, 2023–2028 (Usd Million) 435
14.1.2.2.9 Chatbot Market, By Region 435
Table 375 Chatbot Market, By Region, 2017–2022 (Usd Million) 435
Table 376 Chatbot Market, By Region, 2023–2028 (Usd Million) 436

15 Appendix 437
15.1 Discussion Guide 437
15.2 Knowledgestore: Marketsandmarkets’ Subscription Portal 443
15.3 Customization Options 445
15.4 Related Reports 445
15.5 Author Details 446

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