The Natural Language Processing Market to grow at a CAGR of 30.22% from 2022 to 2027|Growing demand for NLP applications to boost market growth - Technavio

NEW YORK, Aug. 1, 2023 /PRNewswire/ -- The natural language processing market is to grow by USD 53,505.91 million from 2022 to 2027 progressing at a CAGR of 30.22% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The growing demand for NLP applications is a key factor driving market growth. This is due to the growing demand for NLP applications in industries such as healthcare, e-commerce, and customer service. NLP is used in e-commerce platforms to improve end-user experience and sales. This is done by using sentiment analysis, chatbots, and personalized suggestions. In addition, companies are realizing that using NLP can improve operational efficiency and customer satisfaction. NLP supports virtual assistants and automated chat systems in customer service to ensure effective and customized interactions with customers.  Hence, these factors are expected to drive market growth during the forecast period. -Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!

The report on the natural language processing market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis. 

The natural language processing market covers the following areas:

• Natural Language Processing Market Sizing
• Natural Language Processing Market Forecast
• Natural Language Processing Market Analysis

Natural Language Processing Market 2023-2027 - Market Dynamics

Major Trends

The advancement in conversational AI is a major trend in the market. By leveraging simulated human conversations, businesses can improve customer satisfaction, reduce, and streamline time-consuming tasks, and provide more efficient and personalized service. Additionally, improvements in deep learning, machine learning, and NLP algorithms have enabled the creation of more complex conversational AI models that can understand the complexities of context, mood, and natural human language. Hence, such trends are expected to drive market growth during the forecast period.

Significant Challenges

The ambiguity and complexities of natural human language are significant challenges restricting market growth. NLP systems face the challenge of correctly recognizing and interpreting the intended meaning of natural language. Natural language is very nuanced and can be interpreted in many ways depending on the situation. Ambiguity in human natural language causes problems of misunderstandings and errors in NLP models and applications. Advanced techniques, algorithms, and language experts are needed to handle the nuances of real human language and deliver more accurate and contextually relevant natural language processing systems. Therefore, these factors are expected to restrict market growth during the forecast period.

Drivers, & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a  sample report!

Natural Language Processing Market 2023-2027: Market Segmentation

The market is segmented by component (solution and services), deployment (on-premises and cloud), and geography (North America, APAC, Europe, South America, and Middle East and Africa).

• The market share growth by the solution segment will be significant during the forecast period. This growth is driven by the growing need for automation and data-driven decision-making, as well as the need to collect information from all types of unstructured data. Additionally, the processing, analysis, and understanding of human language is enabled by the various technologies and tools that make up an NLP solution. Another factor driving growth is continued innovation in machine learning, deep learning, and natural language understanding algorithms. Hence, these factors are expected to drive segment growth during the forecast period.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

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Companies Mentioned

• 3M Co.
• Alphabet Inc.
• Amazon.com Inc.
• Apple Inc.
• Baidu Inc.
• Cerebras Systems Inc.
• Edifecs Inc.
• Hewlett Packard Enterprise Co.
• Inbenta Holdings Inc.
• International Business Machines Corp.
• IQVIA Inc.
• Liveperson Inc.
• Meta Platforms Inc.
• Microsoft Corp.
• NetBase Solutions Inc.
• OpenAI L.L.C.
• Oracle Corp.
• SAP SE
• SAS Institute Inc.
• SoundHound Inc.

Vendor Offering

• 3M Co. - The company offers natural language processing namely 3M natural language processing.
• Alphabet Inc. - The company offers a natural language processing platform namely Google BERT.
• Amazon.com - The company offers a natural language processing platform namely Amazon Comprehend.

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Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global natural language processing market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global natural language processing market 2017 - 2021 ($ million)

• 4.2 Component Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Component Segment 2017 - 2021 ($ million)

• 4.3 Deployment Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Deployment Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Component

• 6.1 Market segments
• Exhibit 30: Chart on Component - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Component - Market share 2022-2027 (%)

• 6.2 Comparison by Component 
• Exhibit 32: Chart on Comparison by Component
• Exhibit 33: Data Table on Comparison by Component

• 6.3 Solution - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Solution - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Solution - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Solution - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Solution - Year-over-year growth 2022-2027 (%)

• 6.4 Services - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Services - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Services - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Component 
• Exhibit 42: Market opportunity by Component ($ million)
• Exhibit 43: Data Table on Market opportunity by Component ($ million)

7 Market Segmentation by Deployment

• 7.1 Market segments
• Exhibit 44: Chart on Deployment - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Deployment - Market share 2022-2027 (%)

• 7.2 Comparison by Deployment 
• Exhibit 46: Chart on Comparison by Deployment
• Exhibit 47: Data Table on Comparison by Deployment

• 7.3 On-premises - Market size and forecast 2022-2027 
• Exhibit 48: Chart on On-premises - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on On-premises - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on On-premises - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on On-premises - Year-over-year growth 2022-2027 (%)

• 7.4 Cloud - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Cloud - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Cloud - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Deployment 
• Exhibit 56: Market opportunity by Deployment ($ million)
• Exhibit 57: Data Table on Market opportunity by Deployment ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 63: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027 
• Exhibit 67: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 India - Market size and forecast 2022-2027 
• Exhibit 95: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027 
• Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 3M Co.
• Exhibit 111: 3M Co. - Overview
• Exhibit 112: 3M Co. - Business segments
• Exhibit 113: 3M Co. - Key news
• Exhibit 114: 3M Co. - Key offerings
• Exhibit 115: 3M Co. - Segment focus

• 12.4 Alphabet Inc.
• Exhibit 116: Alphabet Inc. - Overview
• Exhibit 117: Alphabet Inc. - Business segments
• Exhibit 118: Alphabet Inc. - Key news
• Exhibit 119: Alphabet Inc. - Key offerings
• Exhibit 120: Alphabet Inc. - Segment focus

• 12.5 Amazon.com Inc.
• Exhibit 121: Amazon.com Inc. - Overview
• Exhibit 122: Amazon.com Inc. - Business segments
• Exhibit 123: Amazon.com Inc. - Key news
• Exhibit 124: Amazon.com Inc. - Key offerings
• Exhibit 125: Amazon.com Inc. - Segment focus

• 12.6 Apple Inc.
• Exhibit 126: Apple Inc. - Overview
• Exhibit 127: Apple Inc. - Business segments
• Exhibit 128: Apple Inc. - Key news
• Exhibit 129: Apple Inc. - Key offerings
• Exhibit 130: Apple Inc. - Segment focus

• 12.7 Baidu Inc.
• Exhibit 131: Baidu Inc. - Overview
• Exhibit 132: Baidu Inc. - Business segments
• Exhibit 133: Baidu Inc. - Key offerings
• Exhibit 134: Baidu Inc. - Segment focus

• 12.8 Cerebras Systems Inc. 
• Exhibit 135: Cerebras Systems Inc. - Overview
• Exhibit 136: Cerebras Systems Inc. - Product / Service
• Exhibit 137: Cerebras Systems Inc. - Key offerings

• 12.9 Hewlett Packard Enterprise Co. 
• Exhibit 138: Hewlett Packard Enterprise Co. - Overview
• Exhibit 139: Hewlett Packard Enterprise Co. - Business segments
• Exhibit 140: Hewlett Packard Enterprise Co. - Key news
• Exhibit 141: Hewlett Packard Enterprise Co. - Key offerings
• Exhibit 142: Hewlett Packard Enterprise Co. - Segment focus

• 12.10 Inbenta Holdings Inc. 
• Exhibit 143: Inbenta Holdings Inc. - Overview
• Exhibit 144: Inbenta Holdings Inc. - Product / Service
• Exhibit 145: Inbenta Holdings Inc. - Key offerings

• 12.11 International Business Machines Corp. 
• Exhibit 146: International Business Machines Corp. - Overview
• Exhibit 147: International Business Machines Corp. - Business segments
• Exhibit 148: International Business Machines Corp. - Key news
• Exhibit 149: International Business Machines Corp. - Key offerings
• Exhibit 150: International Business Machines Corp. - Segment focus

• 12.12 IQVIA Inc.
• Exhibit 151: IQVIA Inc. - Overview
• Exhibit 152: IQVIA Inc. - Business segments
• Exhibit 153: IQVIA Inc. - Key news
• Exhibit 154: IQVIA Inc. - Key offerings
• Exhibit 155: IQVIA Inc. - Segment focus

• 12.13 Meta Platforms Inc.
• Exhibit 156: Meta Platforms Inc. - Overview
• Exhibit 157: Meta Platforms Inc. - Product / Service
• Exhibit 158: Meta Platforms Inc. - Key offerings

• 12.14 Microsoft Corp.
• Exhibit 159: Microsoft Corp. - Overview
• Exhibit 160: Microsoft Corp. - Business segments
• Exhibit 161: Microsoft Corp. - Key news
• Exhibit 162: Microsoft Corp. - Key offerings
• Exhibit 163: Microsoft Corp. - Segment focus

• 12.15 NetBase Solutions Inc. 
• Exhibit 164: NetBase Solutions Inc. - Overview
• Exhibit 165: NetBase Solutions Inc. - Product / Service
• Exhibit 166: NetBase Solutions Inc. - Key offerings

• 12.16 Oracle Corp.
• Exhibit 167: Oracle Corp. - Overview
• Exhibit 168: Oracle Corp. - Business segments
• Exhibit 169: Oracle Corp. - Key news
• Exhibit 170: Oracle Corp. - Key offerings
• Exhibit 171: Oracle Corp. - Segment focus

• 12.17 SAS Institute Inc.
• Exhibit 172: SAS Institute Inc. - Overview
• Exhibit 173: SAS Institute Inc. - Product / Service
• Exhibit 174: SAS Institute Inc. - Key news
• Exhibit 175: SAS Institute Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 176: Inclusions checklist
• Exhibit 177: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 178: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 179: Research methodology
• Exhibit 180: Validation techniques employed for market sizing
• Exhibit 181: Information sources

• 13.5 List of abbreviations
• Exhibit 182: List of abbreviations

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