Report Scope:
In this report, the global NLP market has been segmented based on organization size, component, provider, type, industry and geography. The report provides an overview of the global natural processing market and analyses market trends. Using 2022 as the base year, this report provides estimated market data for the forecast period from 2023 to 2028. Revenue forecasts for this period are segmented based on component, deployment, organization size, type, application, industry vertical and geography. Market values have been estimated based on the total revenue of NLP solution providers.
The report covers the NLP market with regard to the user base across different regions. It also highlights major trends and challenges that affect the market and the vendor landscape. The report estimates the global market for NLP in 2022 and provides projections for the expected market size through 2028. The report explains the value chain and current trends in the global markets for NLP. It concludes with detailed profiles of the major market players.
Report Includes:
- 52 tables and 24 additional tables
- An overview and up-to-date analysis of the global market for the natural language processing (NLP) technologies
- Analyses of the global market trends, with historic market revenue data (sales figures) for 2022, estimates for 2023, forecasts for 2024, and projections of compound annual growth rates (CAGRs) through 2028
- Highlights of emerging technology trends, opportunities and gaps estimating current size and anticipated growth of the overall NLP market and its related market segments, and identification of the major regions and countries involved in market developments
- Estimation of the actual market size and revenue forecast for the global NLP market in USD million values, and corresponding market share analysis based on the component, deployment type, organization size, technology type, application, industry vertical, and region
- Updated information on key market drivers and opportunities, industry shifts and regulations, and other region and industry specific macroeconomic variables that will influence this market in the coming years (2023-2028)
- Review of patents in the NLP market along with the global NLP based patent applications and patents granted for a brief period
- A look at the major growth strategies adopted by leading players operating in the market for NLP technologies, recent developments, strategic alliances, and competitive benchmarking
- Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
- Descriptive company profiles of the leading global players of the industry, including 3M, Apple Inc., IBM Corp., Meta Platforms Inc. and SAS Institute Inc.
Summary:
The importance of NLP techniques, a subset of artificial intelligence, is rising as its sub-technologies develop. Language is the main tool for interaction and communication. Communication is vital for the efficient completion of processes, and language is necessary for communication. NLP is a quickly developing technology due to the vast amount of Big Data, customized algorithms and powerful tools at disposal. NLP can be tackled using various techniques, including rule-based, algorithmic, statistical and machine learning approaches. This is yet another factor contributing to the rising use of NLP across numerous industries. The use of NLP is expanding the reach of other disciplines. Domains integrating NLP include business, recruitment, finance, healthcare and sports trading.
The global market for NLP was estimated to be valued at $REDACTED billion in 2022. It is projected the NLP market will grow at a compound annual growth rate (CAGR) of REDACTED%, and it is forecast to reach $REDACTED billion by 2028. Increasing demand for intelligent virtual assistants such as Siri, Alexa and Google Assistant, a growing volume of unstructured data, advancement in machine learning and deep learning and increasing use of application areas are some of the key factors driving the growth of the current NLP market. Data piracy and security concerns, a lack of skilled professionals, language and cultural barriers, and ethical and bias concerns, however, are hindering the market growth. Apart from drivers and restraints, increasing adoption in healthcare, customer experience enhancement, improving sentiment analysis and social listening, multilingual and cross-cultural applications, compliance and regulatory will create huge opportunities for vendors in the market.
In this report, the NLP market has been segmented based on component, deployment, organization size, type, application, industry vertical and geography. Based on component, the NLP market has been categorized into solution and services. Solution currently dominates the market, and the segment was valued at $REDACTED billion in 2022. It is estimated the NLP market for solution will grow at a CAGR of REDACTED%, and it is forecast to reach $REDACTED billion by 2028.
Based on deployment, the NLP market has been segmented into cloud and on-premises. Based on organization size, the NLP market has been segmented into large enterprises and SMEs. Based on type, the NLP market has been segmented into rule-based, statistical and hybrid. Based on application, the NLP market has been segmented into sentiment analysis, social media monitoring, automatic summarization, content management and virtual assistants/chatbots. Based on industry vertical, the NLP market has been segmented into BFSI, education, healthcare, retail and e-commerce, IT and telecommunication, media and entertainment, and others.
By geography, the NLP market has been segmented into North America, Europe, Asia-Pacific and Rest of World (RoW). North America is currently the most dominant global NLP market. In 2022, total revenue from the North America NLP market reached $REDACTED billion, which is REDACTED% of the global market. The presence of leading global companies, robust technology infrastructure, favorable political and economic environment, and high adoption of advanced technologies (e.g., AI, IoT, cloud) are among the key factors driving the North American market. Asia-Pacific is currently the fastest-growing market for NLP. The Asia-Pacific NLP market was valued at $REDACTED billion in 2022. It is projected to grow at a CAGR of REDACTED%, and it is forecast to reach $REDACTED billion by 2028.
Natural Language Processing (NLP): Global Market Analysis and Insights
Table of Contents
Chapter 1 Introduction
Overview
Study Goals and Objectives
Scope of Report
Reasons for Doing the Study
Intended Audiences
Information Sources
Methodology
Geographic Breakdown
Analyst's Credentials
BCC Custom Research
Related BCC Research Reports
Chapter 2 Summary and Highlights
Market Summary
Chapter 3 Market Overview
Overview
NLP Tools
Natural Language Toolkit
SpaCy
Word2Vec
Amazon Comprehend
GenSim
Core NLP
Google Cloud Natural Language
GPT
CogCompNLP
TextBlob
Evolution of NLP
Early Developments
Statistical Methods and Machine Learning
Deep Learning Revolution
Transformer Models and Language Understanding
Applications and Impact
Current Evolution (2019-2022)
NLP Infrastructure
Hardware
Software Frameworks
Data Resources
Computational Resources
Pretrained Models and Model Libraries:
Annotation Tools:
Value Chain Analysis
Impact of COVID-19 on the Market for NLP
Chapter 4 Market Dynamics
Overview
Market Drivers
Rising Adoption of NLP Among Businesses to Enhance Customer Service
Growing Interest and Investments in AI Technologies
Growing Volume of Unstructured Data through NLP
Regulatory Compliance and Risk Management
Market Restraints
Limited Availability of Multiple Languages
Growing Concern Regarding Data Privacy
Market Opportunities
Surge in the Developments of Big Data Technology for Actionable Business Intelligence
Increase in Investment Across Healthcare
Chapter 5 Market Breakdown by Segment
Overview
Solution
Text Classification
Text Extraction
Text Summarization
Predictive Text
Smart Assistants
Search Engine Results
Services
Technologies Advisory and Consulting Services
Development and Integration Services
Support and Maintenance Services
Chapter 6 Market Breakdown by Deployment
Overview
Cloud
Cloud-hosted NLP Services
On-premises
Chapter 7 Market Breakdown by Organization Size
Overview
Large Enterprises
Small and Medium Enterprises
Chapter 8 Market Breakdown by Type
Overview
Rule-Based NLP
Statistical NLP
Statistical Language Modeling Applications
Drawbacks of Statistical NLP
Hybrid NLP
Chapter 9 Market Breakdown by Application
Overview
Sentiment Analysis
Sentiment Analysis Types
Social Media Monitoring
Automatic Summarization
Text Summarization Types
Best API's for Text Summarization
Content Management
Virtual Assistants/Chatbots
Three Pillars of an NLP-Based Chatbot
Others
Chapter 10 Market Breakdown by Industry Vertical
Overview
BFSI
Use Cases of NLP in BFSI
Education
Use Cases of NLP in Education
Healthcare
Use Cases of NLP in Healthcare
NLP Applications in Healthcare
Retail and E-commerce
Use Cases of NLP in the Retail Industry
Information Technology and Telecommunication
Use Cases of NLP in the Telecommunication Industry
Media and Entertainment
Use Cases of NLG in Media and Entertainment
Others
Chapter 11 Market Breakdown by Region
Overview
North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Chapter 12 Patent Analysis
Global NLP Patents by Applicant Company
Chapter 13 Emerging Technologies
Overview
Key Market Trends
Network and Computing Technology
Internet of Things
Artificial Intelligence
Machine Learning
Design, Deployment and Content Production Level
Cloud Computing
Data Lake
Human/Simulation Interactive Level
Virtual Assistants
Sentiment Analysis
Multilingual Language Models
Named Entity Recognition
Language Transformers
Transfer Learning
Text Summarization
Semantic Search
Reinforcement Learning
Chapter 14 Merger and Acquisition Outlook
Merger and Acquisition Analysis
Chapter 15 Competitive Landscape
Top Companies
Strategic Analysis
Key Product Launches and Developments
Key Collaborations and Partnerships
Key Acquisitions and Expansions
Comparison of the Platforms Used by Major Cloud Vendors
Chapter 16 Company Profiles
3M
ALPHABET INC. (GOOGLE INC.)
AMAZON INC.
APPLE INC.
HEWLETT PACKARD ENTERPRISE
IBM CORP.
INBENTA TECHNOLOGIES INC.
INTEL CORP.
IQVIA
JUST AI LTD.
META PLATFORMS INC.
MICROSOFT CORP.
NARRATIVE SCIENCE (TABLEAU SOFTWARE)
NETBASE QUID
OPENAI LP
ORACLE CORP.
SAP SE
SAS INSTITUTE INC.
SOUNDHOUND AI INC.
VERINT SYSTEMS INC.
List of Tables
Summary Table : Global Market for NLP, by Region, Through 2028
Table 1 : Global Market for NLP, by Segment, Through 2028
Table 2 : Global Market for NLP, by Deployment, Through 2028
Table 3 : Global Market for NLP, by Organization Size, Through 2028
Table 4 : Business Applications of AI and Machine Learning in SME-dominated Sectors
Table 5 : Global Market for NLP, by Type, Through 2028
Table 6 : Global Market for NLP, by Application, Through 2028
Table 7 : Global Market for NLP, by Industry Vertical, Through 2028
Table 8 : Global Market for NLP, by Region, Through 2028
Table 9 : North American Market for NLP, by Country, Through 2028
Table 10 : North American Market for NLP, by Segment, Through 2028
Table 11 : North American Market for NLP, by Deployment, Through 2028
Table 12 : North American Market for NLP, by Organization Size, Through 2028
Table 13 : North American Market for NLP, by Type, Through 2028
Table 14 : North American Market for NLP, by Application, Through 2028
Table 15 : North American Market for NLP, by Industry Vertical, Through 2028
Table 16 : European Market for NLP, by Country, Through 2028
Table 17 : European Market for NLP, by Segment, Through 2028
Table 18 : European Market for NLP, by Deployment, Through 2028
Table 19 : European Market for NLP, by Organization Size, Through 2028
Table 20 : European Market for NLP, by Type, Through 2028
Table 21 : European Market for NLP, by Application, Through 2028
Table 22 : European Market for NLP, by Industry Vertical, Through 2028
Table 23 : Asia-Pacific Market for NLP, by Country, Through 2028
Table 24 : Asia-Pacific Market for NLP, by Segment, Through 2028
Table 25 : Asia-Pacific Market for NLP, by Deployment, Through 2028
Table 26 : Asia-Pacific Market for NLP, by Organization Size, Through 2028
Table 27 : Asia-Pacific Market for NLP, by Type, Through 2028
Table 28 : Asia-Pacific Market for NLP, by Application, Through 2028
Table 29 : Asia-Pacific Market for NLP, by Industry Vertical, Through 2028
Table 30 : RoW Market for NLP, by Sub-region, Through 2028
Table 31 : RoW Market for NLP, by Segment, Through 2028
Table 32 : RoW Market for NLP, by Deployment, Through 2028
Table 33 : RoW Market for NLP, by Organization Size, Through 2028
Table 34 : RoW Market for NLP, by Type, Through 2028
Table 35 : RoW Market for NLP, by Application, Through 2028
Table 36 : RoW Market for NLP, by Industry Vertical, Through 2028
Table 37 : Global NLP Patents, by Applicant Company, Through May 2023
Table 38 : Mergers and Acquisitions, January 2021-May 2023
Table 39 : Product Launches and Developments, March 2020-March 2023
Table 40 : Collaborations and Partnerships, March 2020-March 2023
Table 41 : Acquisitions and Expansions March 2020-March 2023
Table 42 : Comparison of the Platforms Used by Major Cloud Vendors, by Services
Table 43 : Comparison of the Platforms Used, by Major Cloud Vendors, by Product
Table 44 : 3M: Net Revenue, 2020-2022
Table 45 : 3M: Products and Services
Table 46 : Alphabet Inc.: Net Revenue, 2020-2022
Table 47 : Alphabet Inc.: Products and Services
Table 48 : Amazon Inc.: Net Revenue, 2020-2022
Table 49 : Amazon Inc.: Products and Services
Table 50 : Apple Inc.: Net Revenue, 2020-2022
Table 51 : Apple Inc.: Products and Services
Table 52 : Hewlett Packard Enterprise: Net Revenue, 2020-2022
Table 53 : Hewlett Packard Enterprise: Products and Services
Table 54 : IBM Corp.: Net Revenue, 2020-2022
Table 55 : IBM Corp.: Products and Services
Table 56 : Inbenta Technologies Inc.: Products and Services
Table 57 : Intel Corp.: Net Revenue, 2020-2022
Table 58 : Intel Corp.: Products and Services
Table 59 : IQVIA: Net Revenue, 2020-2022
Table 60 : IQVIA: Products and Services
Table 61 : Meta Platforms Inc.: Net Revenue, 2020-2022
Table 62 : Meta Platforms Inc.: Products and Services
Table 63 : Microsoft Corp.: Net Revenue, 2020-2022
Table 64 : Microsoft Corp.: Products and Services
Table 65 : OpenAI LP: Products and Services
Table 66 : Oracle Corp.: Net Revenue, 2020-2022
Table 67 : Oracle Corp.: Products and Services
Table 68 : SAP SE: Net Revenue, 2020-2022
Table 69 : SAP SE.: Products and Services
Table 70 : SAS Institute Inc.: Net Revenue, 2020-2022
Table 71 : SAS Institute Inc.: Products and Services
Table 72 : SoundHound AI Inc.: Net Revenue, 2020-2022
Table 73 : SoundHound AI Inc.: Products and Services
Table 74 : Verint Systems Inc.: Net Revenue, 2020-2022
Table 75 : Verint Systems Inc.: Products and Services
List of Figures
Summary Figure : Global Market Shares of NLP, by Region, 2022
Figure 1 : Value-Chain Analysis of Market for NLP
Figure 2 : Global Market Shares of NLP, by Segment, 2022
Figure 3 : Global Market Shares of NLP, by Deployment, 2022
Figure 4 : Global Market Shares of NLP, by Organization Size, 2022
Figure 5 : Global Market Shares of NLP, by Type, 2022
Figure 6 : Global Market Shares of NLP, by Application, 2022
Figure 7 : Global Market Shares of NLP, by Industry Vertical, 2022
Figure 8 : Global Market Shares of NLP, by Region, 2022
Figure 9 : U.S. Market for NLP, 2022-2028
Figure 10 : Canadian Market for NLP, 2022-2028
Figure 11 : Mexican Market for NLP, 2022-2028
Figure 12 : U.K. Market for NLP, 2022-2028
Figure 13 : German Market for NLP, 2022-2028
Figure 14 : French Market for NLP, 2022-2028
Figure 15 : Spanish Market for NLP, 2022-2028
Figure 16 : Rest of European Market for NLP, 2022-2028
Figure 17 : Chinese Market for NLP, 2022-2028
Figure 18 : Japanese Market for NLP, 2022-2028
Figure 19 : Indian Market for NLP, 2022-2028
Figure 20 : Rest of Asia-Pacific Market for NLP, 2022-2028
Figure 21 : Latin American Market for NLP, 2022-2028
Figure 22 : Middle Eastern and African Market for NLP, 2022-2028
Figure 23 : Global NLP Patent Applications and Patents Granted, by Year, 2018-2022
Figure 24 : Emerging Trends in the Global Market for NLP
Figure 25 : Mergers and Acquisitions in the NLP Industry, by Year, 2021-2023
Figure 26 : Distribution Share of Mergers and Acquisitions in the NLP Industry, by Region, 2021-2023
Figure 27 : Global Market Shares for NLP, by Key Players, 2022
Figure 28 : 3M: Sales Share, by Business Segment, 2022
Figure 29 : 3M: Sales Share, by Region, 2022
Figure 30 : Alphabet Inc.: Revenue Share, by Business Segment, 2022
Figure 31 : Alphabet Inc.: Revenue Share, by Region/Country, 2022
Figure 32 : Amazon Inc.: Sales Share, by Business Segment, 2022
Figure 33 : Amazon Inc.: Sales Share, by Region/Country, 2022
Figure 34 : Apple Inc.: Sales Share, by Business Segment, 2022
Figure 35 : Apple Inc.: Sales Share, by Region/Country, 2022
Figure 36 : Hewlett Packard Enterprise: Sales Share, by Business Segment, 2022
Figure 37 : Hewlett Packard Enterprise: Sales Share, by Region/Country, 2022
Figure 38 : IBM Corp.: Revenue Share, by Business Segment, 2022
Figure 39 : IBM Corp.: Sales Share, by Region, 2022
Figure 40 : Intel Corp.: Revenue Share, by Business Segment, 2022
Figure 41 : Intel Corp.: Sales Share, by Region/Country, 2022
Figure 42 : IQVIA: Revenue Share, by Business Segment, 2022
Figure 43 : IQVIA: Sales Share, by Region, 2022
Figure 44 : Meta Platforms Inc.: Revenue Share, by Business Segment, 2022
Figure 45 : Meta Platforms Inc.: Sales Share, by Region/Country, 2022
Figure 46 : Microsoft Corp.: Revenue Share, by Business Segment, 2022
Figure 47 : Microsoft Corp.: Sales Share, by Country, 2022
Figure 48 : Oracle Corp.: Revenue Share, by Business Segment, 2022
Figure 49 : Oracle Corp.: Sales Share, by Region/Country, 2022
Figure 50 : SAP SE: Revenue Share, by Business Segment, 2022
Figure 51 : SAP SE: Sales Share, by Region/Country, 2022
Figure 52 : SAS Institute Inc.: Sales Share, by Region/Country, 2022
Figure 53 : SoundHound AI Inc.: Revenue Share, by Business Segment, 2022
Figure 54 : SoundHound AI Inc.: Sales Share, by Region/Country, 2022
Figure 55 : Verint Systems Inc.: Revenue Share, by Business Segment, 2022
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