Natural Language Generation (NLG) Market by Application (CEM, Fraud Detection & Anti-money laundering), Component (Software & Services), Business Function, Deployment Model, Organization Size, Industry Vertical & Region - Global Forecast to 2023

  • ID: 4537735
  • Report
  • Region: Global
  • 155 Pages
  • Markets and Markets
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FEATURED COMPANIES

  • Arria NLG
  • AWS
  • Conversica
  • Narrativa
  • NewsRx
  • Retresco
  • MORE

Increasing need to understand customers’ behavior and the proliferation of big data are expected to boost the growth of the natural language generation market

The global natural language generation market size is expected to grow from USD 322.1 million in 2018 to USD 825.3 million by 2023, at a Compound Annual Growth Rate (CAGR) of 20.8% during the forecast period. A strong necessity to understand customers’ behavior has led to a rise in delivering better customer experience across different industry verticals. This factor is driving organizations to build personalized relationships based on customers’ activities or interactions. Moreover, the proliferation of big data created an interest among organizations to derive insights from collected data for taking better, real-time, and fact-based decisions. Thus, NLG solutions have gained significance in extracting insights into human-like languages that are easy to understand. However, the lack of skilled workforce to deploy NLG solutions is a major factor restraining the growth of the market.

For gaining customer insights, the customer experience management segment is expected to grow at the highest CAGR during the forecast period.

The customer experience management segment is expected to grow at the highest CAGR during the forecast period. The adoption of NLG software and services is rapidly increasing in various applications, as these software and services automate processes, thereby facilitating organizations to focus more on their business strategies to gain competitive advantages. The proliferation of big data and related technologies assist in fact-based business decision-making at a faster rate.

Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period.

The natural language generation market growth in the Asia Pacific (APAC) region is gaining momentum and is expected to grow at the highest CAGR in the coming years. The rising awareness can be attributed to an increase in companies’ focus on improving their customer service for driving competitive differentiation and revenue growth in this region. . In addition to this, major APAC economies, such as China, India, Japan, South Korea, and Australia, are adopting the cloud technology

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.

The break-up of the profiles of the primary participants is given below:

  • By Company: Tier 1: 15%, Tier 2: 32%, and Tier 3: 53%
  • By Designation: C-level: 38%, Director level: 30%, and Others: 32%
  • By Region: North America: 38%, Europe: 32%, APAC: 20%, and RoW: 10%

The following key vendors are profiled in the report:

  • Arria NLG (UK)
  • Yseop (France)
  • Narrative Science (US)
  • Automated Insights (US)
  • Retresco (Germany)
  • CoGenTex (US)
  • Phrasetech (Israel)
  • Veritone (US)
  • NewsRx (US)
  • Conversica (US)
  • Narrtiva (UAE)
  • 2txt – natural language generation GmbH (Germany)
  • AX Semantics (Germany)
  • AWS (US)
  • IBM (US)
  • Narrative Wave (US)
  • Artificial Solutions (Spain)
  • vPhrase (India)
  • Linguastat (US)
  • Textual Relations (Sweden)
  • Phrasee (UK)

Research Coverage

The report segments the natural language generation market based on components that are further segmented into software and services. In the services segment, the market is further segmented into managed and professional services. Professional services in the report are further segmented into training and support, and consulting services. Based on deployment models, the market is segmented into on-premises and cloud. Based on applications, the market is segmented into Customer Experience Management (CEM), fraud detection and anti-money laundering, risk and compliance management, predicative maintenance, performance management, and others (weather forecasting and forensics). Based on business functions, the market is segmented into finance, legal, operations, marketing and sales, and operations. Among organizations, it is segmented into Small and Medium-sized Enterprises (SMEs) and large enterprises. Further, under industry verticals, the report covers retail and eCommerce, government and defense, healthcare and life sciences, energy and utilities, telecom and IT, media and entertainment, and Banking, Financial Services, and Insurance (BFSI), manufacturing, and others (research, travel and hospitality, and real estate). The regions are segmented into North America, Europe, APAC, Middle East and Africa (MEA), and Latin America.

The report would help the leaders/new entrants in this market in the following ways:

  • This report segments the natural language generation market comprehensively and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different industry verticals and regions.
  • The report helps stakeholders to understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
  • This report would help stakeholders to better understand their competitors and gain more insights to enhance their positions in businesses. The competitive landscape section includes new product launches/developments; partnerships and collaborations; mergers and acquisitions; and expansions.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Arria NLG
  • AWS
  • Conversica
  • Narrativa
  • NewsRx
  • Retresco
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Regional Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Research Assumptions
2.4 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Natural Language Generation Market
4.2 Market By Industry Vertical and Region
4.3 Investment Opportunities in the Market

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Strong Need to Understand Customers’ Behavior
5.2.1.2 Proliferation of Big Data and the Related Technologies
5.2.2 Restraints
5.2.2.1 Lack of Skilled Consultants to Deploy NLG Solutions and Services
5.2.3 Opportunities
5.2.3.1 Emerging Options in Application Areas
5.2.3.2 Increasing Demand for Intelligent Business Processes
5.2.4 Challenges
5.2.4.1 Lack of Awareness of NLG Solutions
5.2.4.2 Data Security and Quality Issues
5.3 Industry Trends
5.3.1 Use Cases
5.3.1.1 Introduction
5.3.1.2 Use Case: NLG Solutions Increased the Efficiency of Creating and Iterating Detection Models
5.3.1.3 Use Case: Increase in Efficiency of Report Generation With NLG Solutions
5.3.1.4 Use Case: Ease of Business Processes With NLG Solutions
5.3.1.5 Use Case: Development of A Conversational Tool With NLG Platform
5.4 Best Practices to Be Followed in Natural Language Generation
5.5 Regulatory Implications
5.5.1 Sarbanes-Oxley Act of 2002
5.5.2 General Data Protection Regulation
5.5.3 Basel

6 Natural Language Generation Market, By Component
6.1 Introduction
6.2 Software
6.3 Services
6.3.1 Managed Services
6.3.2 Professional Services
6.3.2.1 Training and Support
6.3.2.2 Consulting Services

7 Natural Language Generation Market, By Application
7.1 Introduction
7.2 Fraud Detection and Anti-Money Laundering
7.3 Predictive Maintenance
7.4 Risk and Compliance Management
7.5 Customer Experience Management
7.6 Others

8 Market  By Business Function
8.1 Introduction
8.2 Finance
8.3 Legal
8.4 Marketing and Sales
8.5 Operations
8.6 Human Resources

9 Natural Language Generation Market,  By Deployment Model
9.1 Introduction
9.2 On-Premises
9.3 Cloud

10 Market  By Organization Size
10.1 Introduction
10.2 Small and Medium-Sized Enterprises
10.3 Large Enterprises

11 Natural Language Generation Market,  By Industry Vertical
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.3 Retail and Ecommerce
11.4 Government and Defence
11.5 Healthcare and Life Sciences
11.6 Manufacturing
11.7 Telecom and IT
11.8 Media and Entertainment
11.9 Energy and Utilities
11.1 Others

12 Natural Language Generation Market, By Region
12.1 Introduction
12.2 North America
12.2.1 By Country
12.2.1.1 United States
12.2.1.2 Canada
12.2.2 By Component
12.2.3 By Application
12.2.4 By Business Function
12.2.5 By Deployment Model
12.2.6 By Organization Size
12.2.7 By Industry Vertical
12.3 Europe
12.3.1 By Country
12.3.1.1 Germany
12.3.1.2 France
12.3.1.3 United Kingdom
12.3.1.4 Rest of Europe
12.3.2 By Component
12.3.3 By Application
12.3.4 By Business Function
12.3.5 By Deployment Model
12.3.6 By Organization Size
12.3.7 By Industry Vertical
12.4 Asia Pacific
12.4.1 By Country
12.4.1.1 China
12.4.1.2 Japan
12.4.1.3 South Korea
12.4.1.4 India
12.4.1.5 Rest of APAC
12.4.2 By Component
12.4.3 By Application
12.4.4 By Business Function
12.4.5 By Deployment Model
12.4.6 By Organization Size
12.4.7 By Industry Vertical
12.5 Latin America
12.5.1 By Country
12.5.1.1 Brazil
12.5.1.2 Mexico
12.5.1.3 Rest of Latin America
12.5.2 By Component
12.5.3 By Application
12.5.4 By Business Function
12.5.5 By Deployment Model
12.5.6 By Organization Size
12.5.7 By Industry Vertical
12.6 Middle East and Africa
12.6.1 By Country
12.6.1.1 Kingdom of Saudi Arabia
12.6.1.2 UAE
12.6.1.3 South Africa
12.6.1.4 Rest of Mea
12.6.2 By Component
12.6.3 By Application
12.6.4 By Business Function
12.6.5 By Deployment Model
12.6.6 By Organization Size
12.6.7 By Industry Vertical

13 Competitive Landscape
13.1 Overview
13.2 Prominent Players Operating in the Natural Language Generation Market
13.3 Competitive Situations and Trends
13.3.1 Partnerships, Agreements, and Collaborations
13.3.2 New Product Launches
13.3.3 Acquisitions

14 Company Profiles
14.1 Arria NLG
14.2 AWS
14.3 IBM
14.4 Narrative Science
14.5 Automated Insights
14.6 Narrativa
14.7 Yseop
14.8 Retresco
14.9 Artificial Solutions
14.10 Phrasee
14.11 AX Semantics
14.12 CoGenTex
14.13 Phrasetech
14.14 NewsRx
14.15 Conversica
14.16 2txt – Natural Language Generation GmbH.
14.17 NarrativeWave
14.18 vPhrase
14.19 Linguastat
14.20 Textual Relations

15 Appendix
15.1 Insights of Industry Experts
15.2 Discussion Guide
15.3 Knowledge Store
15.4 Introducing RT: Real-Time Market Intelligence
15.5 Available Customization
15.6 Related Reports
15.7 Author Details

List of Tables:
Table 1 United States Dollar Exchange Rate, 2014–2017
Table 2 Natural Language Generation Market Size, By Component, 2016–2023 (USD Million)
Table 3 Software: Market Size By Region, 2016–2023 (USD Million)
Table 4 Services: Market Size By Region, 2016–2023 (USD Million)
Table 5 Services: Market Size By Type, 2016–2023 (USD Million)
Table 6 Managed Services: Market Size By Region, 2016–2023 (USD Million)
Table 7 Professional Services: Market Size By Region, 2016–2023 (USD Million)
Table 8 Professional Services: Market Size By Type, 2016–2023 (USD Million)
Table 9 Training and Support Market Size, By Region, 2016–2023 (USD Million)
Table 10 Consulting Services Market Size, By Region, 2016–2023 (USD Million)
Table 11 Natural Language Generation Market Size, By Application, 2016–2023 (USD Million)
Table 12 Fraud Detection and Anti-Money Laundering: Market Size By Region, 2016–2023 (USD Million)
Table 13 Predictive Maintenance: Market Size By Region, 2016–2023 (USD Million)
Table 14 Risk and Compliance Management: Market Size By Region, 2016–2023 (USD Million)
Table 15 Customer Experience Management: Market Size By Region, 2016–2023 (USD Million)
Table 16 Others: Market Size By Region, 2016–2023 (USD Million)
Table 17 Natural Language Generation Market Size, By Business Function,  2016–2023 (USD Million)
Table 18 Finance: Market Size By Region, 2016–2023 (USD Million)
Table 19 Legal: Market Size By Region, 2016–2023 (USD Million)
Table 20 Marketing and Sales: Market Size By Region, 2016–2023 (USD Million)
Table 21 Operations: Market Size By Region,  2016–2023 (USD Million)
Table 22 Human Resources: Market Size, By Region, 2016–2023 (USD Million)
Table 23 Natural Language Generation Market Size, By Deployment Model,  2016–2023 (USD Million)
Table 24 On-Premises: Market Size By Region,  2016–2023 (USD Million)
Table 25 Cloud: Market Size By Region, 2016–2023 (USD Million)
Table 26 Natural Language Generation Market Size, By Organization Size, 2016–2023 (USD Million)
Table 27 Small and Medium-Sized Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 28 Large Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 29 Natural Language Generation Market Size, By Industry Vertical, 2016–2023 (USD Million)
Table 30 Banking, Financial Services, and Insurance: Market Size By Region, 2016–2023 (USD Million)
Table 31 Retail and Ecommerce: Market Size By Region, 2016–2023 (USD Million)
Table 32 Government and Defense: Market Size  By Region, 2016–2023 (USD Million)
Table 33 Healthcare and Life Sciences: Market Size  By Region, 2016–2023 (USD Million)
Table 34 Manufacturing: Market Size By Region,  2016–2023 (USD Million)
Table 35 Telecom and IT: Market Size By Region,  2016–2023 (USD Million)
Table 36 Media and Entertainment: Market Size  By Region, 2016–2023 (USD Million)
Table 37 Energy and Utilities: Market Size By Region, 2016–2023 (USD Million)
Table 38 Others: Market Size By Region, 2016–2023 (USD Million)
Table 39 Natural Language Generation Market Size, By Region, 2016–2023 (USD Million)
Table 40 North America: Market Size By Country,  2016–2023 (USD Million)
Table 41 North America: Market Size By Component,  2016–2023 (USD Million)
Table 42 North America: Market Size By Service,  2016–2023 (USD Million)
Table 43 North America: Market Size By Professional Service, 2016–2023 (USD Million)
Table 44 North America: Market Size By Application,  2016–2023 (USD Million)
Table 45 North America: Market Size By Business Function, 2016–2023 (USD Million)
Table 46 North America: Market Size By Deployment Model, 2016–2023 (USD Million)
Table 47 North America: Market Size By Organization Size, 2016–2023 (USD Million)
Table 48 North America: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 49 Europe: Natural Language Generation Market Size, By Country, 2016–2023 (USD Million)
Table 50 Europe: Market Size By Component,  2016–2023 (USD Million)
Table 51 Europe: Market Size By Service, 2016–2023 (USD Million)
Table 52 Europe: Market Size By Professional Service, 2016–2023 (USD Million)
Table 53 Europe: Market Size By Application,  2016–2023 (USD Million)
Table 54 Europe: Market Size By Business Function,  20162023 (USD Million)
Table 55 Europe: Market Size By Deployment Model,  2016–2023 (USD Million)
Table 56 Europe: Market Size By Organization Size,  2016–2023 (USD Million)
Table 57 Europe: Market Size By Industry Vertical,  2015–2022 (USD Million)
Table 58 Asia Pacific: Natural Language Generation Market Size, By Country,  2016–2023 (USD Million)
Table 59 Asia Pacific: Market Size By Component,  2015–2022 (USD Million)
Table 60 Asia Pacific: Market Size By Service,  2016–2023 (USD Million)
Table 61 Asia Pacific: Market Size By Professional Service, 2016–2023 (USD Million)
Table 62 Asia Pacific: Market Size By Application,  2016–2023 (USD Million)
Table 63 Asia Pacific: Market Size By Business Function, 2016–2023 (USD Million)
Table 64 Asia Pacific: Market Size By Deployment Model, 2016–2023 (USD Million)
Table 65 Asia Pacific: Market SizeBy Organization Size, 2016–2023 (USD Million)
Table 66 Asia Pacific: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 67 Latin America: Natural Language Generation Market Size, By Country,  2016–2023 (USD Million)
Table 68 Latin America: Market Size By Component,  2016–2023 (USD Million)
Table 69 Latin America: Market Size By Service,  2016–2023 (USD Million)
Table 70 Latin America: Market Size By Professional Service, 2016–2023 (USD Million)
Table 71 Latin America: Market Size By Application,  2016–2023 (USD Million)
Table 72 Latin America: Market Size By Business Function, 2016–2023 (USD Million)
Table 73 Latin America: Market Size By Deployment Model, 2016–2023 (USD Million)
Table 74 Latin America: Market Size By Organization Size, 2016–2023 (USD Million)
Table 75 Latin America: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 76 Middle East and Africa: Natural Language Generation Market Size, By Country, 2016–2023 (USD Million)
Table 77 Middle East and Africa: Market Size By Component, 2016–2023 (USD Million)
Table 78 Middle East and Africa: Market Size By Service, 2016–2023 (USD Million)
Table 79 Middle East and Africa: Market Size By Professional Service, 2016–2023 (USD Million)
Table 80 Middle East and Africa: Market Size By Application, 2016–2023 (USD Million)
Table 81 Middle East and Africa: Market Size By Business Function, 2016–2023 (USD Million)
Table 82 Middle East and Africa: Market Size By Deployment Model, 2016–2023 (USD Million)
Table 83 Middle East and Africa: Market Size By Organization Size, 2016–2023 (USD Million)
Table 84 Middle East and Africa: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 85 Partnerships, Agreements, and Collaborations, 2016–2018
Table 86 New Product Launches, 2015–2017
Table 87 Acquisitions, 2016–2018

List of Figures:
Figure 1 Natural Language Generation Market Segmentation
Figure 2 Market Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Natural Language Generation Market: Assumptions
Figure 8 Natural Language Generation Market is Expected to Witness A High Growth During the Forecast Period
Figure 9 Market By Component (2018 vs 2023)
Figure 10 Market By Business Function (2018–2023)
Figure 11 Market By Deployment Model (2018–2023)
Figure 12 Market By Organization Size (2018–2023)
Figure 13 Market By Application (2018–2023)
Figure 14 Market By Industry Vertical (2018 vs 2023)
Figure 15 Organizations’ Increasing Need to Understand Customers’ Behavior is Expected to Be the Major Factor Contributing to the Growth of the NLG Market
Figure 16 North America is Estimated to Have the Largest Market Share in 2018
Figure 17 Retail and Ecommerce Industry Vertical and North American Region are Estimated to Have the Largest Market Shares in 2018
Figure 18 Asia Pacific is Expected to Pose the Best Investment Opportunity During the Forecast Period
Figure 19 Natural Language Generation Market: Drivers, Restraints, Opportunities, and Challenges
Figure 20 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 21 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 22 Training and Support Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 23 Customer Experience Management Application is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 Operations Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 25 Cloud Deployment Model is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 26 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 27 Manufacturing Industry Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 28 Asia Pacific is Expected to Grow at the Highest CAGR in the Natural Language Generation Market During the Forecast Period
Figure 29 North America: Market Snapshot
Figure 30 Asia Pacific: Market Snapshot
Figure 31 Key Developments By the Leading Players in the Natural Language Genration Market During 2014–2018
Figure 32 Market Evaluation Framework
Figure 33 Arria NLG: Company Snapshot
Figure 34 AWS: Company Snapshot
Figure 35 IBM Corporation: Company Snapshot

Note: Product cover images may vary from those shown
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  • Arria NLG
  • AWS
  • IBM
  • Narrative Science
  • Automated Insights
  • Narrativa
  • Yseop
  • Retresco
  • Artificial Solutions
  • Phrasee
  • AX Semantics
  • CoGenTex
  • Phrasetech
  • NewsRx
  • Conversica
  • 2txt – Natural Language Generation GmbH.
  • NarrativeWave
  • vPhrase
  • Linguastat
  • Textual Relations
Note: Product cover images may vary from those shown
6 of 6
Note: Product cover images may vary from those shown
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