Natural language processing (NLP) Market
Natural language processing (NLP) Market Size, Share & Trends Analysis Report by Deployment (On-premise, and Cloud), by Organization Size (Large Organizations, and Small and Medium Organizations), by Type (Hardware, Software, and Solutions), by Processing Type (Text, Speech/Voice, and Image), and by End-user Industry (Education, BFSI, Healthcare, IT and Telecom, Retail, Manufacturing, Media, and Entertainment) Forecast Period (2023-2029)
Natural language processing (NLP) market is anticipated to grow at a considerable CAGR of 24.9% during the forecast period. NLP is a type of artificial intelligence (AI) that is being widely adopted in the form of consumer digital assistants and chatbots as well as adopted for commercial applications in the fields of textual analysis, sentimental analysis, voice sense (speech analysis), and change impact analysis. Deep learning architectures and algorithms have made remarkable strides in image identification and audio processing. The growth of the NLP market is attributed to affordability, scalability in computing power, a rise in data digitalization, and the convergence of NLP with deep learning (DL) and machine learning (ML). The rise of the NLP market is primarily attributable to the increasing usage of natural language processing in healthcare and contact centers, the rising demand for advanced text analytics, and the expansion of machine-to-machine technologies. For instance, in December 2022, KAID Health, an AI-powered healthcare data analysis, and provider engagement platform partnered with OPN Healthcare, a US network of community oncology providers to improve oncology care delivery. The company will implement KAID Health’s Whole Chart Analysis, which draws healthcare data from multiple sources, and NLITE (Natural Language Insight & Term Extraction) solutions to enhance OPN’s technology platform. The Note Analyzer feature of KAID Health’s platform automatically extracts the clinical data required by pharmacists, nurses, and other caregivers to make an accurate determination of guideline compliance. This fast-tracks OPN’s compliance process by improving turnaround times for prior authorization and providing detailed clinical reporting.
Segmental Outlook
The global natural language processing (NLP) market is segmented based on its deployment, organization size, type, and processing type. Based on its deployment, the market is segmented into on-premise, and cloud. Based on the size of the organization, the market is categorized into large organizations and small and medium organizations. Based on the type, the market is categorized into hardware, software, and solutions. Based on processing type, the market is categorized into text, speech/voice, and image. Further, based on the end-user industry, the market is segmented into education, BFSI, healthcare, IT and telecom, retail & manufacturing, and media & entertainment. Among the deployment segment, the cloud sub-segment is anticipated to hold a prominent market share. The growth of the cloud sub-segment is attributed to various benefits provided in cloud-based deployments such as quick deployment, anywhere and anytime access, high levels of security, scalability, and others.
Among the processing type segment, the text sub-segment is anticipated to register significant growth for the forecast period. Businesses are increasingly turning to NLP and machine learning to help them comb through rising volumes of documents and data sets in a wide range of formats. By applying AI to get document insights, business users can reduce research time and help their employees make more fact-driven decisions during complex, time-sensitive tasks such as processing insurance claims, conducting financial analyses, and reviewing legal agreements or contracts. Thus market players are inclined to offer new and innovative solutions to tap the opportunities arising in the implementation of natural language processing technology for text processing which in turn is anticipated to drive the market growth of the text processing sub-segment. For instance, in November 2021, IBM came up with new natural language processing (NLP) enhancements planned for IBM Watson Discovery. These planned updates are designed to help business users in industries such as financial services, insurance, and legal services enhance customer care and accelerate business processes by uncovering insights and synthesizing information from complex documents.
Regional Outlooks
The global natural language processing (NLP) market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the Europe market is anticipated to cater to a prominent growth over the forecast period. However, the Asia-Pacific region is projected to experience considerable growth in the natural language processing (NLP) market. The growth of the NLP market in the Asia-Pacific region is attributed to growing demand from various end-user sectors such as education, manufacturing, and others.
Global Natural Language Processing (NLP) Market Growth, by Region 2023-2029
The North American Region is anticipated to Hold a Significant Share in the Global Natural Language Processing (NLP) Market
Among these regions, the North American region is anticipated to account for a significant share of the global natural language processing (NLP) market during the forecast period. The growth of the Natural language Processing (NLP) market in North America is attributed to the rapid integration of AI and machine learning (ML) technology across different sectors such as Education, BFSI, Healthcare, IT and Telecom, Retail, Manufacturing, and others. For instance, in November 2022, Symphony, the market infrastructure, and communications platform acquired Amenity Analytics, a natural language processing (NLP) data analytics solution. Amenity Analytics is designed to provide portfolio managers with actionable insights, research professionals, analysts, and other financial market participants. This acquisition is expected to support Symphony’s market strategy by delivering data and business insights use cases, including environmental, social, and governance capabilities. North America is one of the primary markets for natural language processing. Most of the key suppliers in the industry are situated in the United States, giving the region an advantage in terms of innovation. Furthermore, firms are attempting to increase their footprint in Canada through merger and acquisition (M&A) methods, given the country's expanding potential. For instance, in June 2022, Symboticware acquired Palifer, the developer of a deep-learning natural language processing (NLP) AI software that generates data from work orders created in natural language. Palifer’s AI will enable Symboticware’s customers to reduce unscheduled downtime, prevent unsafe incidents caused by equipment failure, and optimize maintenance.
Market Players Outlook
The major companies serving the global natural language processing (NLP) market include IBM Corporation, Microsoft Corp., Google, Amazon Web Services, Inc., Meta Platforms, Inc., Baidu, Inc., SAS Institute Inc., IQVIA Inc., and Others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in July 2022, Reddit acquired MeaningCloud, a natural language processing company, for an undisclosed amount. The MeaningCloud team has joined Reddit and will support machine learning projects across its product, safety, and ads teams. The acquisition marks Reddit’s first office in Spain. MeaningCloud was founded in 2015 and specializes in extracting meaning from unstructured content, such as social conversations and web content. The company’s technology will strengthen its machine learning proficiencies and understanding of unstructured data to provide relevant information for Reddit users.
The Report Covers
- Market value data analysis of 2021 and forecast to 2029.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global natural language processing (NLP) market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Apple Inc.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. The Hewlett Packard Enterprise Co.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Dolbey Systems, Inc.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. IBM Corp.
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Microsoft Corp.
3.6.1. Overview
3.6.2. Financial Analysis
3.6.3. SWOT Analysis
3.6.4. Recent Developments
3.7. Key Strategy Analysis
4. Market Segmentation
4.1. Global Natural language processing (NLP) Market by Deployment
4.1.1. On-Premise
4.1.2. Cloud
4.2. Global Natural language processing (NLP) Market by Organization Size
4.2.1. Large Organizations
4.2.2. Small and Medium Organizations
4.3. Global Natural language processing (NLP) Market by Type
4.3.1. Hardware
4.3.2. Software
4.3.3. Solutions
4.4. Global Natural language processing (NLP) Market by Processing Type
4.4.1. Text
4.4.2. Speech/Voice
4.4.3. Image
4.5. Global Natural language processing (NLP) Market by End-user Industry
4.5.1. Education
4.5.2. BFSI
4.5.3. Healthcare
4.5.4. IT and Telecom
4.5.5. Retail & Manufacturing
4.5.6. Media & Entertainment
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. 3M Co.
6.2. Automated Insights
6.3. Baidu, Inc.
6.4. Bitext Innovations, S.L.
6.5. Conversica
6.6. Google
6.7. Health Fidelity, Inc
6.8. Inbenta Holdings Inc.
6.9. IQVIA Inc.
6.10. LivePerson, Inc.
6.11. Meta Platforms, Inc.
6.12. MindMeld, Inc.
6.13. Netbase Solutions
6.14. Oracle Corp.
6.15. SAS Institute Inc.
6.16. SoundHound Inc.
6.17. Veritone, Inc.
1. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2021-2029 ($ MILLION)
2. GLOBAL ON-PREMISE NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
3. GLOBAL CLOUD NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
4. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2021-2029 ($ MILLION)
5. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR LARGE ORGANIZATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
6. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR SMALL AND MEDIUM ORGANIZATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
7. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2029 ($ MILLION)
8. GLOBAL HARDWARE FOR NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
9. GLOBAL SOFTWARE FOR NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
10. GLOBAL SOLUTIONS FOR NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
11. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY PROCESSING TYPE, 2021-2029 ($ MILLION)
12. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR TEXT PROCESSING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
13. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR SPEECH/VOICE PROCESSING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
14. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR IMAGE PROCESSING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
15. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2029 ($ MILLION)
16. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR EDUCATION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
17. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR BFSI MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
18. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
19. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR IT AND TELECOM MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
20. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR RETAIL & MANUFACTURING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
21. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR MEDIA & ENTERTAINMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
22. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2029 ($ MILLION)
23. NORTH AMERICAN NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2029 ($ MILLION)
24. NORTH AMERICAN NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2021-2029 ($ MILLION)
25. NORTH AMERICAN NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2021-2029 ($ MILLION)
26. NORTH AMERICAN NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2029 ($ MILLION)
27. NORTH AMERICAN NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY PROCESSING TYPE, 2021-2029 ($ MILLION)
28. NORTH AMERICAN NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2029 ($ MILLION)
29. EUROPEAN NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2029 ($ MILLION)
30. EUROPEAN NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2021-2029 ($ MILLION)
31. EUROPEAN NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE , 2021-2029 ($ MILLION)
32. EUROPEAN NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2029 ($ MILLION)
33. EUROPEAN NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY PROCESSING TYPE, 2021-2029 ($ MILLION)
34. EUROPEAN NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2029 ($ MILLION)
35. ASIA-PACIFIC NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2029 ($ MILLION)
36. ASIA-PACIFIC NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2021-2029 ($ MILLION)
37. ASIA-PACIFIC NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2021-2029 ($ MILLION)
38. ASIA-PACIFIC NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2029 ($ MILLION)
39. ASIA-PACIFIC NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY PROCESSING TYPE, 2021-2029 ($ MILLION)
40. ASIA-PACIFIC NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2029 ($ MILLION)
41. REST OF THE WORLD NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2029 ($ MILLION)
42. REST OF THE WORLD NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2021-2029 ($ MILLION)
43. REST OF THE WORLD NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2021-2029 ($ MILLION)
44. REST OF THE WORLD NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2029 ($ MILLION)
45. REST OF THE WORLD NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY PROCESSING TYPE, 2021-2029 ($ MILLION)
46. REST OF THE WORLD NATURAL LANGUAGE PROCESSING (NLP) MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2029 ($ MILLION)
1. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) MARKET SHARE BY DEPLOYMENT, 2021 VS 2029 (%)
2. GLOBAL ON-PREMISE NATURAL LANGUAGE PROCESSING (NLP) MARKET SHARE BY REGION, 2021 VS 2029 (%)
3. GLOBAL CLOUD NATURAL LANGUAGE PROCESSING (NLP) MARKET SHARE BY REGION, 2021 VS 2029 (%)
4. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) MARKET SHARE BY ORGANIZATION SIZE, 2021 VS 2029 (%)
5. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR LARGE ORGANIZATIONS MARKET SHARE BY REGION, 2021 VS 2029 (%)
6. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR SMALL AND MEDIUM ORGANIZATIONS MARKET SHARE BY REGION, 2021 VS 2029 (%)
7. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) MARKET SHARE BY TYPE, 2021 VS 2029 (%)
8. GLOBAL HARDWARE FOR NATURAL LANGUAGE PROCESSING (NLP) MARKET SHARE BY REGION, 2021 VS 2029 (%)
9. GLOBAL SOFTWARE FOR NATURAL LANGUAGE PROCESSING (NLP) MARKET SHARE BY REGION, 2021 VS 2029 (%)
10. GLOBAL SOLUTIONS FOR NATURAL LANGUAGE PROCESSING (NLP) MARKET SHARE BY REGION, 2021 VS 2029 (%)
11. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) MARKET SHARE BY PROCESSING TYPE, 2021 VS 2029 (%)
12. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR TEXT PROCESSING MARKET SHARE BY REGION, 2021 VS 2029 (%)
13. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR SPEECH/VOICE PROCESSING MARKET SHARE BY REGION, 2021 VS 2029 (%)
14. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR IMAGE PROCESSING MARKET SHARE BY REGION, 2021 VS 2029 (%)
15. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) MARKET SHARE BY END-USER INDUSTRY, 2021 VS 2029 (%)
16. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR EDUCATION MARKET SHARE BY REGION, 2021 VS 2029 (%)
17. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR BFSI MARKET SHARE BY REGION, 2021 VS 2029 (%)
18. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR HEALTHCARE MARKET SHARE BY REGION, 2021 VS 2029 (%)
19. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR IT AND TELECOM MARKET SHARE BY REGION, 2021 VS 2029 (%)
20. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR RETAIL & MANUFCATURING MARKET SHARE BY REGION, 2021 VS 2029 (%)
21. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) FOR MEDIA & ENTERTAINMENT MARKET SHARE BY REGION, 2021 VS 2029 (%)
22. GLOBAL NATURAL LANGUAGE PROCESSING (NLP) MARKET SHARE BY REGION, 2021 VS 2029 (%)
23. US NATURAL LANGUAGE PROCESSING (NLP) MARKET SIZE, 2021-2029 ($ MILLION)
24. CANADA NATURAL LANGUAGE PROCESSING (NLP) MARKET SIZE, 2021-2029 ($ MILLION)
25. UK NATURAL LANGUAGE PROCESSING (NLP) MARKET SIZE, 2021-2029 ($ MILLION)
26. FRANCE NATURAL LANGUAGE PROCESSING (NLP) MARKET SIZE, 2021-2029 ($ MILLION)
27. GERMANY NATURAL LANGUAGE PROCESSING (NLP) MARKET SIZE, 2021-2029 ($ MILLION)
28. ITALY NATURAL LANGUAGE PROCESSING (NLP) MARKET SIZE, 2021-2029 ($ MILLION)
29. SPAIN NATURAL LANGUAGE PROCESSING (NLP) MARKET SIZE, 2021-2029 ($ MILLION)
30. REST OF EUROPE NATURAL LANGUAGE PROCESSING (NLP) MARKET SIZE, 2021-2029 ($ MILLION)
31. INDIA NATURAL LANGUAGE PROCESSING (NLP) MARKET SIZE, 2021-2029 ($ MILLION)
32. CHINA NATURAL LANGUAGE PROCESSING (NLP) MARKET SIZE, 2021-2029 ($ MILLION)
33. JAPAN NATURAL LANGUAGE PROCESSING (NLP) MARKET SIZE, 2021-2029 ($ MILLION)
34. SOUTH KOREA NATURAL LANGUAGE PROCESSING (NLP) MARKET SIZE, 2021-2029 ($ MILLION)
35. REST OF ASIA-PACIFIC NATURAL LANGUAGE PROCESSING (NLP) MARKET SIZE, 2021-2029 ($ MILLION)
36. REST OF THE WORLD NATURAL LANGUAGE PROCESSING (NLP) MARKET SIZE, 2021-2029 ($ MILLION)
