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World Natural Language Processing (NLP) Market - Opportunities and Forecasts, 2017 - 2023

  • ID: 3773027
  • Report
  • Region: Global
  • Allied Analytics LLP
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Natural Language processing is a field of computer science, and artificial intelligence that is concerned with interaction between computer and human language.It is a component of artificial intelligence, capable of understanding human language and later converts into machine language. In the current business scenario, humongous amount of data (big data) is being generated from various sources such as emails, audio, documents, web blogs, forums, social networking sites, etc. Natural language processing technique is been used in analysis of big data. Therefore, the natural language processing market would be lucrative in future.

The greatest challenge for natural language processing applications is to identify human voice with different patterns, tones, pronunciations and to convert it into a programmable language. The main goal of such applications is to reduce the use of specialized languages such as Java, Ruby, C, etc., and introduce only human language in all computerized systems. The biggest advantage of this application is its basic and advanced level of interaction with humans. In future, humans would need to feed codes to systems orally instead of writing them on the computer system. Currently, such applications are used in voice recognition systems; however, eventually, these applications would find substantial demand in varied domains. Convenient interaction with machines would drive the global NLP market. Additionally, customer care centers are continuously adopting natural language processing technologies to provide better customer experience that contributes in driving the global market.

Natural Language Processing market analysis by Types

Various types of natural language processing solutions available in the market are statistical NLP, hybrid based NLP, and rule NLP. Statistical NLP uses probabilistic and statistical methods for solving difficulties in the construction of long sentences, whereas rule NLP uses structured rules to detect and correct the human voice. Rule based NLP is also another popular technique amongst the various types of NLP solutions.

Natural Language Processing market analysis by Technology

The technologies used in NLP are Recognition, Operational and Analytics technologies. Currently, Recognition technologies are widely used from small scale to large enterprises. A recognition technology comprises of interactive voice recognition (IVR), optical character recognition and image recognition amongst, which IVR is most commonly used in various applications. Various voice recognition systems such as automatic speed control systems, temperature controllers, etc. are also developed using recognition technology. The capability of NLP to operate the system only when the recorded voice is detected in different applications is contributing to the revenue stream of the technology segment.

Natural Language Processing market analysis by End-User

The end users of NLP are Machine translation, Information extraction, Report generation, Question answering, and others. Machine translation converts the source language to target language, while information extraction automatically extracts the information in a structured format. Use of such applications makes the conversion from human language to machine language easy.

Natural Language Processing market analysis by Applications

Various sectors in which NLP is being used are Automotive, Healthcare, Banking Financial Services and Insurance, IT and Telecom, Government, Defense & Aerospace, Media & Advertisement, Academia and Education. The companies in Automotive, IT & telecom and Defense & Aerospace sectors are the major industries where NLP is being used in various applications. The research shows that use of interaction voice recognition would increase in other sectors by 2020.

Natural Language Processing market analysis by Geography

The analysis is carried out in the various regions such as North America, Europe, Asia Pacific



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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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