HOME Top Market Reports Natural Language Processing Market by Type (Rule-Based, Statistical, and Hybrid), Technologies (Recognition, IVR, OCR, Speech Recognition, Text Processing, Pattern & Image Recognition), by Deployment Type, Vertical & by Region - Global Forecast to 2021

Natural Language Processing Market by Type (Rule-Based, Statistical, and Hybrid), Technologies (Recognition, IVR, OCR, Speech Recognition, Text Processing, Pattern & Image Recognition), by Deployment Type, Vertical & by Region - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: July 2016
Report Code: TC 3492

 

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The Natural Language Processing (NLP) market size is estimated to grow from USD 7.63 Billion in 2016 to USD 16.07 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 16.1%. The report aims at estimating the market size and future growth potential of the NLP market across different segments, such as technologies, applications, deployment models, services, and regions. The base year considered for the study is 2015 and the market size is projected from 2016 to 2021. The Natural Language Processing market is an extremely profitable market for NLP software-based solution vendors and service providers. This is because the business organizations working in numerous verticals around the world are progressively adopting NLP solutions for bridging the communication gap between humans and machines. This market is expected to grow further in North America and Europe and is growing at a significantly fast pace in Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America.

The research methodology used to estimate and forecast the Natural Language Processing market begins with capturing data on key vendor revenues through secondary research. The vendor offerings are also taken into consideration to determine the market segmentation. In the complete market engineering process, bottom-up approaches were extensively used along with several data triangulation methods to perform market estimation and market forecasting for the overall market segments and subsegments listed in this report. Extensive qualitative and quantitative analysis was performed on the complete market engineering process to list key information/insights throughout the report. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary is depicted in the below figure:

Natural Language Processing (NLP) Market

To know about the assumptions considered for the study, download the pdf brochure

The ecosystem of the Natural Language Processing market comprises solution vendors such as 3M (U.S.), Apple Incorporation (U.S.), Dolbey Systems (U.S.), Google (U.S.), HPE (U.S.), IBM Incorporation (U.S.), Microsoft Corporation (U.S.), NetBase Solutions (U.S.), SAS Institute Inc. (U.S.), and Verint Systems (U.S.) who offer high-end NLP solutions.

Key Target Audience

  • Government agencies
  • NLP Original Equipment Manufacturers (OEMs)
  • NLP service providers
  • System integrators
  • Consulting firms
  • Research organizations
  • Resellers and distributors
  • Investment/equity research firms
  • Media

Scope of the Report

The research report segments the Natural Language Processing market into the following submarkets:

By Type:

  • Rule Based
  • Statistical
  • Hybrid

By Deployment Model:

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud

By Technology:

  • Interactive Voice Response (IVR)
  • Optical Character Recognition (OCR)
  • Pattern and Image Recognition
  • Auto Coding
  • Classification and Categorization
  • Text Analytics
  • Speech Analytics
  • Professional Services
  • Support and Maintenance Services

By Vertical:

  • Banking, Financial Services, and Insurance (BFSI)
  • Manufacturing
  • Healthcare and Life Sciences
  • Retail and Consumer Goods
  • Research and Education
  • High Tech and Electronics
  • Media and Entertainment

By Region:

  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix which gives a detailed comparison of product portfolio of each company

Geographic Analysis

  • Further breakdown of the North American NLP market
  • Further breakdown of the European NLP market
  • Further breakdown of the APAC NLP market
  • Further breakdown of the MEA NLP market
  • Further breakdown of the Latin American NLP market

Company Information

  • Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 13)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Markets Covered
           1.4.1 Years Considered for the Study
    1.5 Currency
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 17)
    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 From Primary Interviews
    2.2 Market Size Estimation
    2.3 Market Breakdown and Data Triangulation

3 Natural Language Processing Market: Executive Summary (Page No. - 24)

4 Premium Insights (Page No. - 27)
    4.1 Attractive Market Opportunities in the Market Size
    4.2 Market By Deployment Type
    4.3 Market Share of Types and Verticals
    4.4 Natural Language Processing Lifecycle Analysis, By Region, 2016-2021

5 Natural Language Processing Market Overview (Page No. - 30)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Solution Type
           5.2.2 By Technology
           5.2.3 By Service
           5.2.4 By Deployment Model
           5.2.5 By Application Type
           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 Rise in Data
                    5.3.1.3 Increase in Smart Device Usage
                    5.3.1.4 Growth in Machine to Machine Technology
           5.3.2 Restraints
                    5.3.2.1 Low Customer Adoption Trends
                    5.3.2.2 Regulatory Restraints
           5.3.3 Opportunities
                    5.3.3.1 Emerging Options in 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. - 41)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Ecosystem
    6.4 Porter’s Five Forces Analysis
           6.4.1 Threat of New Entrants
           6.4.2 Threat of Substitutes
           6.4.3 Bargaining Power of Suppliers
           6.4.4 Bargaining Power of Buyers
           6.4.5 Intensity of Competitive Rivalry

7 Natural Language Processing Market Analysis, By Type (Page No. - 45)
    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. - 52)
    8.1 Introduction
    8.2 Interactive Voice Response (IVR)
    8.3 Optical Character Recognition (OCR)
    8.4 Pattern and Image Recognition
    8.5 Autocoding
    8.6 Classsification and Categorization
    8.7 Text Analytics
    8.8 Speech Analytics

9 Natural Language Processing Market Analysis, By Services (Page No. - 59)
    9.1 Introduction
    9.2 Professional Services
    9.3 Support and Maintenance Services

10 Market By Deployment Model (Page No. - 64)
     10.1 Introduction
     10.2 On-Premise
     10.3 On-Demand

11 Market Analysis, By Application (Page No. - 68)
     11.1 Introduction
     11.2 Machine Translation
     11.3 Information Extraction
     11.4 Report Generation
     11.5 Question Answering
     11.6 Text Processing

12 Natural Language Processing Market Analysis, By Industry Verticals (Page No. - 75)
     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 Others

13 Geographic Analysis (Page No. - 89)
     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. - 99)
     14.1 Overview
     14.2 Competitive Situations and Trends
     14.3 Competitive Situation & Trends
             14.3.1 Agreements, Partnerships, and Collaborations
             14.3.2 Mergers and Acquisitions
             14.3.3 New Product Launches

15 Company Profiles (Page No. - 104)
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
     15.1 Introduction
     15.2 Apple Incorporation
     15.3 Dolbey Systems
     15.4 Google
     15.5 Hewlett-Packard Enterprise Company
     15.6 International Business Machine Corporation
     15.7 Microsoft Corporation
     15.8 Netbase Solutions
     15.9 SAS Instituite, Inc.
     15.10 Verint System
     15.11 Key Innovators

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

16 Appendix (Page No. - 132)
     16.1 Other Developments
             16.1.1 Mergers and Acquisitions
             16.1.2 New Product Launches
     16.2 Industry Experts
     16.3 Discussion Guide
     16.4 Introduction RT: Real-Time Market Intelligence
     16.5 Available Customizations
     16.6 Related Reports


List of Tables (69 Tables)

Table 1 Natural Language Processing Market Size and Growth Rate, 2016–2021 (USD Million, Yoy %)
Table 2 Drivers: Impact Analysis
Table 3 Restraints: Impact Analysis
Table 4 Opportunities: Impact Analysis
Table 5 Challenges: Impact Analysis
Table 6 Natural Language Processing Market Size, By Type, 2014-2021
Table 7 Rule-Based: Market Size, By Region, 2014–2021 (USD Million)
Table 8 Rule-Based: Market Size, By Vertical, 2014–2021 (USD Million)
Table 9 Statistical: Market Size, By Region, 2014–2021 (USD Million)
Table 10 Statistical: Market Size, By Vertical, 2014–2021 (USD Million)
Table 11 Hybrid: Market Size, By Region, 2014–2021 (USD Million)
Table 12 Hybrid: Market Size, By Vertical, 2014–2021 (USD Million)
Table 13 Natural Language Processing Market Size, By Technology, 2014–2021 (USD Million)
Table 14 Interactive Voice Recognition: Market Size, Deployment Model, 2014–2021 (USD Million)
Table 15 Optical Character Recognition: Market Size, Deployment Model, 2014–2021 (USD Million)
Table 16 Pattern Recognition: Nattural Language Processing Market Size, Deployment Model, 2014–2021 (USD Million)
Table 17 Autocoding: Market Size, Deployment Model, 2016–2021 (USD Million)
Table 18 Classification and Categorization: Market Size, By Deployment Model, 2014–2021 (USD Million)
Table 19 Text Analytics: Market Size, Deployment Model, 2014–2021 (USD Million)
Table 20 Speech Analytics: Market Size, Deployment Model, 2014–2021 (USD Million)
Table 21 Market Size By Service, 2014-2021 (USD Million)
Table 22 Market Size, By Vertical, 2014–2021 (USD Million)
Table 23 Professional Services: Market Size, By Region, 2014–2021 (USD Million)
Table 24 Support and Maintenance Service: Market Size, By Vertical, 2014–2021 (USD Million)
Table 25 Support and Maintenance:: Market Size, By Region, 2014–2021 (USD Million)
Table 26 Market Size, By Deployment Model, 2014-2021 (USD Million)
Table 27 On-Premise: Market Size, By Region, 2014-2021 (USD Million)
Table 28 On-Demand: Market Size, By Region, 2014-2021 (USD Million)
Table 29 Natural Language Processing Market Size, By Application Type, 2014–2021 (USD Million)
Table 30 Machine Translation: Market Size, By Region, 2014–2021 (USD Million)
Table 31 Information Extraction: Market Size, By Region, 2016–2021 (USD Million)
Table 32 Report Generation: Market Size, By Region, 2014–2021 (USD Million)
Table 33 Question Answering: Market Size, By Region, 2014–2021 (USD Million)
Table 34 Text Processing: Market Size, By Region, 2014–2021 (USD Million)
Table 35 Natural Language Processing Market Size, By Industry Application, 2014–2021 (USD Million)
Table 36 BFSI: Market Size, By Application, 2014–2021 (USD Million)
Table 37 BFSI: Market Size, By Region, 2016–2021 (USD Million)
Table 38 Automotive: Market Size, By Application, 2014–2021 (USD Million)
Table 39 Automotive: Market Size, By Region, 2014–2021 (USD Million)
Table 40 Healthcare and Lifesciences: Market Size, By Application, 2014–2021 (USD Million)
Table 41 Healthcare and Lifesciences: Market Size, By Region, 2014–2021 (USD Million)
Table 42 Retail and Consumer Goods: Market Size, By Region, 2014–2021 (USD Million)
Table 43 Retail and Consumer Goods: Market Size, By Application, 2014–2021 (USD Million)
Table 44 Research and Education: Market Size, By Region, 2014–2021 (USD Million)
Table 45 Research and Education: Market Size, By Application, 2016–2021 (USD Million)
Table 46 High-Tech and Electronics: Market Size, By Region, 2016–2021 (USD Million)
Table 47 High-Tech and Electronics: Market Size, By Application, 2014–2021 (USD Million)
Table 48 Media and Entertainment: Market Size, By Region, 2014–2021 (USD Million)
Table 49 Media and Entertainment: Market Size, By Application, 2014–2021 (USD Million)
Table 50 Goverment: Market Size, By Region, 2016–2021 (USD Million)
Table 51 Government: Market Size, By Application, 2014–2021 (USD Million)
Table 52 Others: Market Size, By Region, 2014–2021 (USD Million)
Table 53 Others: Market Size, By Application, 2014–2021 (USD Million)
Table 54 Natural Language Processing Market Size, By Region, 2014–2021 (USD Million)
Table 55 North America: Market Size, By Type, 2014-2021, (USD Million)
Table 56 North America: Market Size, By Vertical, 2014–2021 (USD Million)
Table 57 Europe: Market Size, By Type, 2016-2021 (USD Million)
Table 58 Europe: Market Size, By Vertical, 2016–2021 (USD Million)
Table 59 Asia-Pacific: Market Size, By Type, 2016-2021 (USD Million)
Table 60 Asia-Pacific: Market Size, By Vertical, 2016-2021 (USD Million)
Table 61 Middle East and Africa: Market Size, By Type, 2016-2021 (USD Million)
Table 62 Middle East and Africa: Market Size, By Vertical, 2016-2021 (USD Million)
Table 63 Latin America: Market Size By Type, 2016-2021 (USD Million)
Table 64 Latin America: Natural Language Processing Market Size By Vertical, 2016-2021 (USD Million)
Table 65 Agreements, Partnerships, and Collaborations, 2011-2013
Table 66 Mergers and Acquisitions, 2012-2015
Table 67 New Product Launches, 2013-2016
Table 68 Other Developments: Mergers and Acquisitions, 2008-2012
Table 69 Other Developments: New Product Launches, 2011-2014


List of Figures (45 Figures)

Figure 1 Markets Covered
Figure 2 Natural Language Processing Market: Research Design
Figure 3 Breakdown of Primaries: By Company Type, Designation, and Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Evolution of Natural Language Processing
Figure 8 North America is Expected to Have the Largest Market Share in 2016
Figure 9 High Growth Trend is Expected in the Market (2016-2021)
Figure 10 On-Demand Deployment Type is Expected to Grow at A Higher Rate
Figure 11 Statistical NLP is Expected to Dominate the Market in 2016
Figure 12 Middle East and Africa is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 13 Natural Language Processing Market Segmentation: By Solution Type
Figure 14 Market Segmentation: By Technology
Figure 15 Rise in Data and Growing Demand for Enhanced Customer Experience are the Key Drivers in the Market
Figure 16 Value Chain Analysis:Natural Language Processing
Figure 17 Rule-Based Natural Language Processing Solutions to Hold the Highest Market Share in 2016
Figure 18 Natural Language Processing Market, By Technology
Figure 19 The Professional Services Market is Expected to Grow at the Fastest Rate During the Forecast Period
Figure 20 Market By Deployment Model
Figure 21 Market By Application
Figure 22 Healthcare is Expected to Show Higher Demand Among All Industry Applications
Figure 23 North America is Expected to Be the Leading Revenue Generator Amongst the Market From 2016-2021
Figure 24 Regional Snapshot: North America Will Continue to Have the Largest Market Size in the Natural Language Processing Market During the Forecast Period
Figure 25 Regional Snapshot: Middle East and Africa and Latin America are Emerging as Top Natural Language Processing Revenue Segments
Figure 26 North America Market Snapshot
Figure 27 Middle East &Africa Snapshot: Increased Traction Among Growing Economies Will Drive the Market
Figure 28 Top Companies Adopted Partnership/Agreement/Collaboration as the Key Growth Strategy During the Period 2013-2016
Figure 29 Market Evaluation Framework
Figure 30 Battle for Market Share: Partnership, Agreement, and Collaboration Was the Key Strategy of the Leading Market Players
Figure 31 Geographic Revenue Mix of Top Five Market Players
Figure 32 3M: Company Snapshot
Figure 33 3M: SWOT Analysis
Figure 34 Apple Incorporation: Company Snapshot
Figure 35 Apple Incorporation: SWOT Analysis
Figure 36 Google: Company Snapshot
Figure 37 Google: SWOT Analysis
Figure 38 Hewlett-Packard Enterprise Company: Company Snapshot
Figure 39 Hewlett-Packard Enterprise Company: SWOT Analysis
Figure 40 International Business Machine Corporation: Company Snapshot
Figure 41 International Business Machine Corporation: SWOT Analysis
Figure 42 Microsoft Corporation: Company Snapshot
Figure 43 Microsoft Corporation: SWOT Analysis
Figure 44 SAS: Company Snapshot
Figure 45 Verint: Company Snapshot

MarketsandMarkets forecasts the Natural Language Processing (NLP) market size to grow from USD 7.63 Billion in 2016 to USD 16.07 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 16.1%. Major factors contributing to the growth of the NLP market are increase in smart device usage, demand for enhanced customer experience, and potential growth in machine-to-machine technology.

The Natural Language Processing market is segmented by technology, service, deployment model, application, industry vertical, and region. The statistical NLP type segment has shown the highest CAGR due to the increasing adoption of machine learning techniques which are used in statistical NLP solutions.

The various NLP technologies are categorized into three major types, namely recognition technologies, operational technologies, and analytics technologies. Among all, the interactive voice response technology is expected to dominate the Natural Language Processing market in market size while optical character recognition and pattern image recognition technologies are expected to grow at the highest rate during the forecast period. Also, speech analytics is gaining impetus and is growing with a high CAGR in the technology segment of the overall NLP market. This is due to the high demand for voice recognition and speech processing systems.

The Natural Language Processing market includes professional services and support and maintenance services. Among them, professional services segment is forecast to grow at the highest CAGR, this is due to the fact that organizations are looking for NLP solutions along with installation, maintenance, and consulting services in the NLP market.

Organizations are rapidly deploying NLP solutions either on-premises or on-cloud. The growing demand of extracting and forming structured data sets from clusters of unstructured data online is driving the growth of the on-demand deployment model in the Natural Language Processing market. Its growth is specifically high in enterprises, where low cost solutions are much required.

Major applications of NLP are machine translation, information extraction, report generation, and text processing question answering. The machine translation application is estimated to have the highest market size in the forecast period. This is mainly because machine translation is the building block of all other NLP applications and it converts speech or text inputs from one language to another.

The healthcare and life sciences vertical holds the largest share of the Natural Language Processing market in 2016. The growth is fueled due to better management of the clinical documentation. The media and entertainment vertical is expected to grow at the highest CAGR during the forecast period due to recent developments, upcoming technologies and ample amount of data or language processing that is increasing day by day in the entertainment sector.

Natural Language Processing (NLP) Market

North America is expected to have the largest market share and would dominate the NLP market from 2016 to 2021, due to the presence of a large number of NLP vendors. MEA offers potential growth opportunities for the Natural Language Processing market to grow. The key factors driving the growth rate in this market are increasing data generation in business organizations across the globe, growing demand for enhanced customer experience, and increase in the adoption and utility of smart devices.

The proliferation of smartphones and social media has introduced a new level of derived languages. This language can either be used in very small sentences or with a few slangs and jargons. NLP techniques are not able to identify this text corpus which is grammatically incorrect. Hence, this kind of gap between the humans and machines can be considered as a challenge in this market.

The major vendors in the Natural Language Processing market include 3M, Apple Incorporation, Dolbey Systems, Google, HP, IBM Incorporation, Microsoft Corporation, NetBase Solutions, SAS Institute Inc., Verint Systems, and others. These players adopted various strategies, such as mergers, partnerships, collaborations, and new product launches to cater to the needs of the NLP market.

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