Today, business organizations are operational in and across a wide spectrum of verticals which includes Banking, Financial Services and Insurance (BFSI), retail and consumer goods, automotive, healthcare and life sciences, research and education, high tech and electronics, media and entertainment. These business firms are generating tremendous amount of unstructured data in terms of volume. In order to get an easy and quick access of the latent information carried within this kind of data, organizations are deploying Natural Language Processing (NLP) solutions to perform linguistic conversion from human to machine language.
The NLP solutions can be rule-based, statistical, and hybrid. The rule-based NLP type works on the basis of rules and commands provided. The statistical-based NLP generate data in accordance with inferences and statistical probability distribution algorithms. And hybrid-based NLP is the combination of both rule-based and statistical-based NLP.
The NLP market is divided into four broadly classified applications which have their defined scope of use. These include machine translation, which helps in converting one language into another. Information extraction application is used to extract important information from plain text. Report generation application helps in generating documents with special automated semantic algorithms that can reorganize and code electronic documents. Question answering application is used to get the customer insights directly in the form of question answer responses and other applications.
This market research report consists of the detailed analysis, market sizing, and forecasting for the emerging submarkets of the NLP market. The report is segmented on the basis of type of NLP solutions, technologies, services, deployment models, applications, verticals, and regions. The NLP market research report analyzes global adoption trends, future growth potential, key drivers, competitive outlook, restraints, opportunities, market ecosystem, and emerging technologies in this market.
The report is expected to help the market leaders/new entrants in this market in the following ways:
- This report segments the market into types, technologies, services, deployment models, applications, verticals, and regions covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments.
- This report will help them better understand the competitors and gain more insights to better position their business. There is a separate section on competitive landscape that includes competitors’ ecosystem and their roles in the market. Besides, there are company profiles of the top 10 players in this market. In this section, market internals are provided that can put them ahead of the competitors.
- The report will help them understand the overall growth of the market. The report provides information and analysis of key market drivers, restraints, challenges, and opportunities.