Natural Language Processing Market overview
In those times, computer technology was not that developed. Computers only understood analogue signals but recently, with the growing improvement in technology and different AI systems, computers understand and translate the human language. This new technology improvement is called the natural language processing market. The computer can now understand, learn and solve queries of human language. The natural language processing market also improved recently by understanding different languages from different countries, which has made it easier for the people.
The natural language processing market is expected to showcase a CAGR of 27.6% by 2030. The market research report offers the most up-to-date market data on the actual market situation, trends, demands, NLP market share, size and future outlook. Many sectors use natural language processing; google is using google translator to make it easier for people to understand several languages; it is used in google maps to provide direction. Covid 19 impacted many services, and the impact of the virus led to many human losses, whereas the natural language processing market was useful at the time of the pandemic providing real-time data of many patients through which doctors could understand a different language and provide help. This process is also used to decode the different articles published by patients, develop a case study, help the government track, and contain the patients. The use of natural language processing in several sectors drives the market. Human language is different to understand sometimes as a human does not always use understandable human language, which is a huge challenge for the market.
Natural Language Processing Market Key Players
IBM (US), Oracle (US), Apple (US), Microsoft (US), HP (US), Netbase Solutions (US) are the Natural Language Processing Market leaders of North America attracting more usecustomerLP market and generating greater revenue.
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Natural Language Processing Market Segmentation
The natural language processing market is segmented by technology, type, service, deployment, and vertical. The market is further segmented into auto coding, text analytics, pattern and image recognition, and speech analytics based on the technology segment. The natural language process market is divided into rule-based, statical, and hybrid based on type. The market is segregated into integration, consulting, and maintenance based on the segment service. Based on deployment, the market is segmented into on-demand and on-premise. The natural language processing market is divided into the retail sector, healthcare, and media and entertainment based on vertical segment. The market has been divided into many segments based on the segment vertical. Still, the healthcare segment holds the largest market share as the medical sector uses natural language processing to keep track of patients and the medical history that can be useful for other doctors and patients. Many high-end companies like Microsoft, Google, and other banking services used the natural language processing market to solve human queries.
Natural Language Processing Market Regional analysis
The natural language processing market has been spread in the regions like North America, Asia Pacific, Europe, and other parts of the world. By the year 2023, it is expected that the market will make a profit of 60 billion US dollars. The natural language processing market is used in every sector right now. It is also used in urban and rural areas. The use of natural language processing in many sectors in North America makes the region the leading region of the market. Europe is growing significantly .china and japan is creating independent voice translators, which improves the market value of the Asia Pacific region.
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Industry news
Press Ganey secures the sixth US patent for natural language processing expanding the company’s artificial intelligence.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
Continued...
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