HOME Top Market Reports Natural Language Processing Market by Type (Rule-Based, Statistical, and Hybrid), Technologies (Recognition, IVR, OCR, Pattern & Image Recognition) - Worldwide Forecast to 2020

Natural Language Processing Market by Type (Rule-Based, Statistical, and Hybrid), Technologies (Recognition, IVR, OCR, Pattern & Image Recognition) - Worldwide Forecast to 2020

By: marketsandmarkets.com
Publishing Date: June 2015
Report Code: TC 3492

 

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Natural Language Processing (NLP) solutions have become very significant for many business operations. It works to provide human to machine interaction by analyzing the spoken and written languages and comprehending the pattern accordingly. The advent of smartphones and the leverage of big data have given rise to huge amount of data. Maintaining the business database manually has become outdated. In order to extract important data from these text corpus business organization are looking for the solutions which will provide a real-time access to the important information and the voice of customers in order to enhance their business operations. NLP techniques enable the computer to perform various tasks. A few of these applications include machine translation, information extraction, report generation, question answering among various others. The report basically emphasizes on the overall NLP market in various verticals across the globe.

The Natural Language Processing market is basically segmented on the basis of types, technologies, services, deployment models, applications, verticals, and regions.

The adoption rate of NLP solutions across the huge plethora of industry is constantly accelerating the demand for the NLP market. Further, due to growing demand of Machine to Machine (M2M) translation, the NLP market has been experiencing high growth in North America, Europe, and Asia-Pacific regions. However, the different government rules and regulations and lesser acceptance of NLP solutions by the organizations are a few of the barriers for the NLP market.

The key vendors occupying the market are 3M, Apple, Dolbey Systems, Google, HP, IBM Corporation, Microsoft Corporation, NetBase Solutions, SAS Institute Inc., Verint Systems among various others. The NLP market research report discusses the strategies and insights of the key vendors in the industry and also provides in-depth study of driving forces and challenges for the NLP market. The report also analyzes the global trends and future growth potentials across different regions. MarketsandMarkets has segmented the global NLP market by type of NLP, technologies, services, deployment model, applications, verticals, and regions. The report also consists of MarketsandMarkets views of the key players and analysts insights on the latest developments that are taking place in the NLP market space. The forecast period for the Natural Language Processing market research report is 2015-2020 with 2014 considered as the base year. The research report covers complete NLP market categorized into the following sub-markets:

On the basis of solution type:

  • Rule-based NLP
  • Statistical NLP
  • Hybrid NLP

On the basis of type of technologies:

  • Recognition
    1. Interactive Voice Response (IVR)
    2. Optical Character Recognition (OCR)
    3. Pattern and Image Recognition
  • Operational
    1. Auto Coding
    2. Classification and Categorization
  • Analytics
    1. Text Analytics
    2. Speech Analytics

On the basis of services:

  • Professional services
  • Support and maintenance services

On the basis of deployment model:

  • On-premise
  • On-demand (cloud-based)

On the basis of applications:

  • Machine translation
  • Information extraction
  • Report generation
  • Question answering
  • Other applications

On the basis of verticals:

  • Banking, Financial Services, and Insurance (BFSI)
  • Automotive
  • Healthcare and life sciences
  • Retail and consumer goods
  • Research and education
  • High tech and electronics
  • Media and entertainment
  • Government
  • Others

On the basis of geographical region:

  • North America (NA)
  • Europe
  • Asia-Pacific (APAC)
  • Middle East and Africa (MEA)
  • Latin America (LA)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered.
    1.4 Currency
    1.5 Limitation
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
    2.3 Market Breakdown and Data Triangulation
    2.4 Assumptions

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 30)
    4.1 Attractive Market Opportunities in Natural Language Processing Market
    4.2 NLP Market: Market Share of Types and Verticals
    4.3 Lifecycle Analysis, By Region
    4.4 Market Investment Scenario
    4.5 Product Growth Matrix
    4.6 Regional Adoption Scenario

5 Market Overview (Page No. - 36)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Type
           5.2.2 By Technology
           5.2.3 By Service
           5.2.4 By Deployment Model
           5.2.5 By Application
           5.2.6 By Vertical
           5.2.7 By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Growing Demand for Enhanced Customer Experience
                    5.3.1.2 Massive Rise in Data
                    5.3.1.3 Increase in the Utility of Smart Devices
           5.3.2 Restraints
                    5.3.2.1 Customer Adoption Trends
                    5.3.2.2 Governmental Regulations
           5.3.3 Opportunities
                    5.3.3.1 Emerging Application Areas
                    5.3.3.2 Increasing Investments in the Healthcare Industry
           5.3.4 Challenges
                    5.3.4.1 Bridging the Gap Between Man and Machine
                    5.3.4.2 Need for Effective Predictive Technologies

6 Industry Trends (Page No. - 44)
    6.1 Value Chain
    6.2 Ecosystem
    6.3 Porter’s Five Forces Analysis
           6.3.1 Threat of New Entrants
           6.3.2 Threat of Substitutes
           6.3.3 Bargaining Power of Suppliers
           6.3.4 Bargaining Power of Buyers
           6.3.5 Intensity of Rivalry
    6.4 Strategic Benchmarking

7 Natural Language Processing Market Analysis, By Type (Page No. - 49)
    7.1 Introduction
    7.2 Rule-Based Natural Language Processing
    7.3 Statistical Natural Language Processing
    7.4 Hybrid Natural Language Processing

8 Natural Language Processing Market Analysis, By Technology (Page No. - 55)
    8.1 Introduction
    8.2 Interactive Voice Response
    8.3 Optical Character Recognition
    8.4 Pattern and Image Recognition
    8.5 Auto Coding
    8.6 Classification and Categorization
    8.7 Text Analytics
    8.8 Speech Analytics

9 Natural Language Processing Market Analysis, By Service (Page No. - 62)
    9.1 Introduction
    9.2 Professional Services
    9.3 Support and Maintenance Services

10 Natural Language Processing Market Analysis, By Deployment Model (Page No. - 67)
     10.1 Introduction
     10.2 On-Premise
     10.3 On-Demand

11 Natural Language Processing Market Analysis, By Application (Page No. - 71)
     11.1 Introduction
     11.2 Machine Translation
     11.3 Information Extraction
     11.4 Report Generation
     11.5 Question Answering
     11.6 Other Applications

12 Natural Language Processing Market Analysis, By Vertical (Page No. - 77)
     12.1 Introduction
     12.2 BFSI
     12.3 Automotive
     12.4 Healthcare and Life Sciences
     12.5 Retail and Consumer Goods
     12.6 Research and Education
     12.7 High Tech and Electronics
     12.8 Media and Entertainment
     12.9 Government
     12.10 Other Verticals

13 Geographic Analysis (Page No. - 90)
     13.1 Introduction
     13.2 North America
     13.3 Europe
     13.4 Asia-Pacific
     13.5 Middle East and Africa
     13.6 Latin America

14 Competitive Landscape (Page No. - 103)
     14.1 Overview
     14.2 Competitive Situation and Trends
     14.3 New Product Launches
     14.4 Partnerships and Collaborations
     14.5 Mergers and Acquisitions
     14.6 Venture Funding

15 Company Profiles (Page No. - 110)
(Overview, Products & Services, Strategies & Insights, Developments and MnM View)*
     15.1 Apple Inc
     15.2 Google
     15.3 Hewlett-Packard
     15.4 IBM Corporation
     15.5 Microsoft Corporation
     15.6 3M Company
     15.7 Dolbey Systems
     15.8 Netbase Solutions
     15.9 SAS Institute Inc.
     15.10 Verint Systems

*Details on Overview, Products & Services, Strategies & Insights, Developments and MnM View Might Not Be Captured in Case of Unlisted Companies.

16 Appendix (Page No. - 134)
     16.1 Insights of Industry Experts
     16.2 Discussion Guide
     16.3 Introducing RT: Real-Time Market Intelligence
     16.4 Available Customizations
     16.5 Related Reports


List of Tables (65 Tables)

Table 1 Global Natural Language Processing Market: Assumptions
Table 2 Market Size and Growth, 2013-2020 ($Million, Y-O-Y %)
Table 3 Market Size, By Type, 2013-2020 ($Million)
Table 4 Rule-Based NLP Market Size, By Region, 2013-2020 ($Million)
Table 5 Rule-Based NLP Market Size, By Vertical, 2013-2020 ($Million)
Table 6 Statistical-Based NLP Market Size, By Region, 2013-2020 ($Million)
Table 7 Statistical-Based NLP Market Size, By Vertical, 2013-2020 ($Million)
Table 8 Hybrid NLP Market Size, By Region, 2013-2020 ($Million)
Table 9 Hybrid NLP Market Size, By Vertical, 2013-2020 ($Million)
Table 10 Natural Language Processing Market Size, By Technology, 2013-2020 ($Million)
Table 11 Interactive Voice Response: Market Size, By Deployment Model, 2013-2020 ($Million)
Table 12 Optical Character Recognition: Market Size, By Deployment Model, 2013-2020 ($Million)
Table 13 Pattern and Image Recognition: Market Size, By Deployment Model, 2013-2020 ($Million)
Table 14 Auto Coding: Market Size, By Deployment Model, 2013-2020 ($Million)
Table 15 Classification and Categorization: Market Size, By Deployment Model, 2013-2020 ($Million)
Table 16 Text Analytics: Market Size, By Deployment Model, 2013-2020 ($Million)
Table 17 Speech Analytics: Market Size, By Deployment Model, 2013-2020 ($Million)
Table 18 Natural Language Processing Market Size, By Service, 2013-2020 ($Million)
Table 19 Professional Services: Market Size, By Vertical, 2013-2020 ($Million)
Table 20 Professional Services: Market Size, By Region, 2013-2020 ($Million)
Table 21 Support and Maintenance Services: Market Size, By Vertical, 2013-2020 ($Million)
Table 22 Support and Maintenance Services: NLP Market Size, By Region, 2013-2020 ($Million)
Table 23 Natural Language Processing Market Size, By Deployment Model, 2013-2020 ($Million)
Table 24 On-Premise Deployment Model: Market Size, By Region, 2013-2020 ($Million)
Table 25 On-Demand Deployment Model: Market Size, By Region, 2013-2020 ($Million)
Table 26 Natural Language Processing Market Size, By Application, 2013-2020 ($Million)
Table 27 Machine Translation: Market Size, By Region, 2013-2020 ($Million)
Table 28 Information Extraction: Market Size, By Region, 2013-2020 ($Million)
Table 29 Report Generation: Market Size, By Region, 2013-2020 ($Million)
Table 30 Question Answering: Market Size, By Region, 2013-2020 ($Million)
Table 31 Other Applications: Market Size, By Region, 2013-2020 ($Million)
Table 32 Natural Language Processing Market Size, By Vertical, 2013-2020 ($Million)
Table 33 BFSI: Market Size, By Application, 2013-2020 ($Million)
Table 34 BFSI: Market Size, By Region, 2013-2020 ($Million)
Table 35 Automotive: Market Size, By Application, 2013-2020 ($Million)
Table 36 Automotive: Market Size, By Region, 2013-2020 ($Million)
Table 37 Health Care and Life Sciences: Natural Language Processing Market Size, By Application, 2013-2020 ($Million)
Table 38 Health Care and Life Sciences: Market Size, By Region, 2013-2020 ($Million)
Table 39 BFSI: Natural Language Processing Market Size, By Application, 2013-2020 ($Million)
Table 40 Retail and Consumer: Market Size, By Region, 2013-2020 ($Million)
Table 41 Research and Education: Market Size, By Application, 2013-2020 ($Million)
Table 42 Research and Education: Market Size, By Region, 2013-2020 ($Million)
Table 43 High Tech and Electronics: Market Size, By Application, 2013-2020 ($Million)
Table 44 High Tech and Electronics: Natural Language Processing Market Size, By Region, 2013-2020 ($Million)
Table 45 Media and Entertainment: Market Size, By Application, 2013-2020 ($Million)
Table 46 Media and Entertainment: Market Size, By Region, 2013-2020 ($Million)
Table 47 Government: Market Size, By Application, 2013-2020 ($Million)
Table 48 Government: Market Size, By Region, 2013-2020 ($Million)
Table 49 Other Verticals: Market Size, By Application, 2013-2020 ($Million)
Table 50 Other Verticals: Market Size, By Region, 2013-2020 ($Million)
Table 51 Natural Language Processing Market Size, By Region, 2013-2020 ($Million)
Table 52 North America: Market Size, By Type, 2013-2020 ($Million)
Table 53 North America: Market Size, By Vertical, 2013-2020 ($Million)
Table 54 Europe: Market Size, By Type, 2013-2020 ($Million)
Table 55 Europe: Market Size, By Vertical, 2013-2020 ($Million)
Table 56 APAC: Market Size, By Type, 2013-2020 ($Million)
Table 57 APAC: Market Size, By Vertical, 2013-2020 ($Million)
Table 58 MEA: Market Size, By Type, 2013-2020 ($Million)
Table 59 MEA: Market Size, By Vertical, 2013-2020 ($Million)
Table 60 Latin America: Market Size, By Type, 2013-2020 ($Million)
Table 61 Latin America: Market Size, By Vertical, 2013-2020 ($Million)
Table 62 New Product Launches, 2011-2014
Table 63 Partnerships and Collaborations, 2011–2013
Table 64 Mergers and Acquisitions, 2011–2015
Table 65 Venture Funding, 2011–2015


List of Figures (52 Figures)

Figure 1 Market Segmentation
Figure 2 Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Evolution of Natural Language Processing
Figure 6 North America Holds the Largest Market Share for 2014
Figure 7 Top Three Segments for Natural Language Processing Market 2014-2019
Figure 8 Growth Trend of Natural Language Processing Market (2015–2020)
Figure 9 Geographic Lifecycle Analysis (2015): MEA is Growing at the Highest Growth Rate
Figure 10 Market Investment Scenario: MEA and APAC Rise as the Best Opportunity Markets for Investment in the Next Five Years
Figure 11 New Revenue Pockets for Market Players
Figure 12 North America Commands Over 38.9% of the Market Share in 2015
Figure 13 Market Segmentation: By Type
Figure 14 Market Segmentation: By Technology
Figure 15 Market Segmentation: By Service
Figure 16 Market Segmentation: By Deployment Model
Figure 17 Market Segmentation: By Application
Figure 18 Market Segmentation: By Vertical
Figure 19 Natural Language Processing Market Segmentation: By Region
Figure 20 Rise in Data and Growing Demand for Enhanced Customer Experience are the Key Drivers in This Market
Figure 21 Natural Language Processing: Value Chain Analysis
Figure 22 Natural Language Processing Ecosystem
Figure 23 Natural Language Processing: Porter’s Five Forces Analysis
Figure 24 Strategic Benchmarking: Natural Language Processing
Figure 25 Rule-Based Natural Language Processing Solutions are Estimated to Hold the Highest Market Share for the Year 2015
Figure 26 Natural Language Processing Market, By Technology
Figure 27 Professional Services Market is Expected to Grow at the Fastest Rate During the Forecast Period
Figure 28 Market By Deployment Model
Figure 29 Market By Application
Figure 30 Market By Vertical
Figure 31 Market By Region
Figure 32 MEA, Latin America, and Asia-Pacific are Forecasted to Be the Most Attractive Investment Pockets for the NLP Market Players
Figure 33 Regional Snapshot: MEA and LA are Emerging as Hot Revenue Generating Pockets
Figure 34 North America: Regional Market Snapshot
Figure 35 MEA: Regional Market Snapshot
Figure 36 Companies Adopted Mergers and Acquisitions as the Key Growth Strategy (2010-2014)
Figure 37 Revenue of Apple Inc. Grew at the Highest Rate Between 2010 and 2014
Figure 38 Market Evaluation Framework
Figure 39 Battle for Market Share: New Product Developments Have Been the Key Strategy for the Year 2014
Figure 40 Apple Inc: Company Snapshot
Figure 41 SWOT Analysis : Apple Inc
Figure 42 Google: Company Snapshot
Figure 43 SWOT Analysis : Google
Figure 44 Hewlett-Packard: Company Snapshot
Figure 45 SWOT Analysis : Hewlett-Packard
Figure 46 IBM: Company Snapshot
Figure 47 SWOT Analysis : IBM Corporation
Figure 48 Microsoft Corporation: Company Snapshot
Figure 49 SWOT Analysis : Microsoft Corporation
Figure 50 3M: Company Snapshot
Figure 51 SAS: Company Snapshot
Figure 52 Verint Systems: Company Snapshot

In the Natural Language Processing (NLP) market, the solution vendors such as 3M, Apple Incorporation, Dolbey Systems, Google, HP, IBM Incorporation, Microsoft Corporation, NetBase solutions, SAS institute Inc., and Verint Systems offer high end NLP solutions. The NLP market has been segmented on the basis of type of NLP solutions such as rule-based NLP, statistical NLP, and hybrid NLP. The NLP technologies are classified into broader segments including recognition, operational and analytics which are further spilt into their respective sub-segments.

The Natural Language Processing market is growing at a rapid rate and is being pushed by a variety of growth drivers such as growing demand for enhanced customer experience, increase in adoption of smartphones, leverage big data, growth in M2M technologies, growing need of converting manual documents into electronic records, increase in number of contact centers and adoption of more cloud-based technologies. The NLP market has been forecast to provide numerous opportunities such as emerging areas of applications and investment in the healthcare industry. However, the market is going to be hampered by a few restraints such as low customer adoption. These are a few customer segments where the NLP techniques have missed its acceptance.

A major challenging factor which is being faced by the business organizations operative in this industry include challenges posed by government rules and regulations. As business organizations are looking for human to machine translation solutions in order to provide better access to important data, the demand of NLP solutions are increasing at high rate.

Globally, North America and Europe have shown the maximum respective revenues in this market. However, regions such as Latin America, Middle East and Africa (MEA) and Asia-Pacific (APAC) are the faster growing regions. In order to survive the competitive landscape of the market, small and medium-sized businesses as well as large enterprises are continuously deploying state-of-the-art NLP solutions to enhance the efficiency of their operations.

Further, in the Natural Language Processing market, the NLP techniques are getting deployed through two kinds of models, i.e. on-premise and on-demand (cloud-based) which are covered in this report.

Overall Market Size

Natural Language Processing Market, by Region, 2015-2020 ($Billion)

Natural Language Processing (NLP) Market

Source: MarketsandMarkets Analysis

The table given above highlights the NLP market across five regions from 2015 to 2020. The Natural Language Processing market is expected to grow from $5.7 billion in 2015 to $13.4 billion in 2020 at a CAGR of 18.4% for the forecast period

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