NEW YORK, UNITED STATES, January 4, 2022 /EINPresswire.com/ – Market Summer-
“Natural Language Processing (NLP) Market,” a new report from Coherent Market Insights, analyzes the competitive environment and projections for future growth. The Natural Language Processing (NLP) market study for the analysis period 2021-2028 comprises an in-depth investigation of various new and significant industry trends, engagement analysis and very broad geographic analysis.
The global natural language processing (NLP) market was valued at US $ 11,500.0 million in 2020 and is expected to reach US $ 49,023.2 million by 2028 at a CAGR of 20.4% between 2021 and 2028.
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Natural Language Processing (NLP) Market Overview –
During the projected period, emerging data operations and increasing use of smart devices are expected to fuel the market growth. Customers can now enjoy a smart home environment and related automotive experience through advancements in communication and IoT technology. Natural Discourse Processing (NLP) is a technique that enables computers and smart devices to understand human language. Natural language processing is used by smart assistants like Apple’s Siri and Amazon’s Alexa to identify speech and respond with context-relevant responses. A smart phone, industrial machine, or gadget operating in a smart home / building environment are all examples of smart devices. Chatbots, which can automate chats and communicate with people through messaging platforms, are also used by a number of financial firms.
Global Natural Language Processing (NLP) Market: Competitive Background –
Dolbey Systems Inc.
IQVIA Holdings Inc.
Institut SAS Inc.
Market scope –
This research report comprises material selected by experts to assess natural language processing (NLP) market dynamics as thoroughly as possible. The research study delves into various aspects and sectors of the Natural Language Processing (NLP) Market. An in-depth forecast of the Natural Language Processing (NLP) Market is also included in the following post. The research could help companies in the Natural Language Processing (NLP) market to determine their true growth potential, generate good business, and increase their revenue generation skills.
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Market Readers –
The Coherent Market Insights research study is the latest publication addressing huge changes in the business strategy of the Natural Language Processing (NLP) Market with a prospect of dynamic growth. This study covers a wide range of topics and is based on extensive research on the most recent market trends, development strategies, growth patterns and regulatory laws. The Natural Language Processing (NLP) market report begins with a collection of data and information on the technological advancements in the industry, market trends, innovation, and development capabilities of major global players.
The coronavirus pandemic (Covid-19) has had a significant impact –
Compared to most other industries, the demand for NLP has increased in the healthcare industry and is expected to grow at the fastest rate during the forecast period. Natural language processing, for example, has helped researchers deal with the massive amount of COVID-19 data that would be difficult for humans to assess, according to the World Economic Forum (WEF). This has helped in tracking the progress of COVID-19, and NLP can summarize thousands of COVID-19 research articles, such as CORD-19, added by researchers as they continue to work on vaccinations and treatments for the disease.
Market segmentation –
By component: platform / solution and services
By application: machine translation, information extraction, report generation and predictive risk analysis
By industry: automotive, BFSI, government, healthcare, media and entertainment, retail and e-commerce and others
By deployment: on-premises and in the cloud
Geographies covered –
North America: United States and Canada
Latin America: Brazil, Argentina, Mexico and the rest of Latin America
Europe: Germany, United Kingdom, Spain, France, Italy, Russia and rest of Europe
Asia-Pacific: China, India, Japan, Australia, South Korea, ASEAN and rest of Asia-Pacific
Middle East and Africa: GCC countries, South Africa and the rest of the Middle East and Africa
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Highlights of the report: –
• In-depth knowledge of current natural language processing (NLP) market trends, opportunities and issues
• An in-depth examination of the drivers of development and obstacles.
• In-depth knowledge of upcoming market opportunities.
• A list of segments and areas of specialization to consider.
• Detailed information on the strategy used by the major players.
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