HOME Top Market Reports Natural Language Processing (NLP) Market [IVR, OCR, Pattern Recognition, Auto Coding, Text Analytics, Speech Analytics, Machine Translation, Information Extraction, Question Answer, Report Generation] - Worldwide Market Forecast & Analysis (2013–2018)

Natural Language Processing (NLP) Market [IVR, OCR, Pattern Recognition, Auto Coding, Text Analytics, Speech Analytics, Machine Translation, Information Extraction, Question Answer, Report Generation] - Worldwide Market Forecast & Analysis (2013–2018)

By: marketsandmarkets.com
Publishing Date: October 2013
Report Code: TC 1289

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In the last decade, we have witnessed increasing applications for Natural Language Processing (NLP) in process of ameliorating communication between human and machine. NLP technology has also lead to a paradigm shift by analyzing digital data and social media websites for leveraging profit from big data analytics. Additionally, there is growing technological advancements in devices such as smartphone, biometrics, smart TVs and other M2M technologies across the industry has put pressure on organizations to bring in enhanced customer environment. It is expected that this will result in higher growth and further adoption of NLP software solutions in the coming years. Further, we have observed that vendors are focusing more on natural language understanding (NLU) technologies to maximize their product potential and client expectations. This has lead to increase in rebranding of many NLP vendors to NLU vendors.

The report highlights the major factors that are shaping the future of the Natural Language Processing market. One of these factors is the requirement of enhanced customer experience. Contact centers are continuously adopting NLP technologies to have better productivity and customer experience. The shared cost for cloud services increases the scope for small businesses, such as clinics in healthcare vertical. Companies are able to leverage good profit from cloud services. There are some restraints and challenges, such as customer adoption and government regulatory issues. Therefore, the adoption of NLP software market in industries such as energy and power, construction, and manufacturing sector are expected to be slower.

The Natural Language Processing market is built around recognition, operational and analytics technologies. In 2013, the highest market share is accounted by recognition technologies, such as Interactive Voice Response (IVR), Optical Character Recognition (OCR) and pattern and image recognition. Furthermore, it is expected that the market share of recognition technologies will remain comparatively higher due to growing demand for NLU systems. Few high growth markets are -

  1. Web and E-Commerce industry: NLP technologies are being employed for semantic analysis by taking linguistic data from social channels to enhance customer experience and analyze brand value.
  2. IT and Telecommunication industry: These are the sophisticated integrated software platforms, which uses Interactive Voice Response (IVR) technology and search engine portals having semantic technology.
  3. Healthcare industry: EHR and NLP software vendors are collaborating to provide automatic reading and writing process of electronic clinical documentation. It is also being implemented for accurate billing process in this industry.
  4. BFSI industry: The need for delivering services globally without language boundaries, at a feasible cost, has increased the adoption rate of NLP software solutions in financial industry.

The key playing fields in Natural Language Processing market are various industrial applications such as machine translation, information extraction, report generation and question answering software. These applications are offered as an on-premise and on-demand software platform, having facilities for analyzing linguistic data. These applications are being widely presented across various verticals and regions by the NLP software solution providers. In year 2013, machine translation and report generation applications are expected to be majorly adopted across various industries, and has far greater scope in future as well.

MarketsandMarkets expects that healthcare vertical will account for the largest market share throughout the forecast period. However, there are few potential revenue pockets, namely BFSI, IT and Telecommunication, Web and Ecommerce which will witness significant growth in this period. Some of the major vendors of NLP market are SAS, Nuance Communications, Microsoft, Google, Facebook, Fuji Xerox and NetBase.

Natural Language Processing market report will help the market leaders/new entrants in this market in the following ways -

  1. This report segments the market into technologies and services, providing closest approximate market forecasts for the overall market and the sub-segments. The report further analyzes market numbers and provides split across applications, verticals and regions.

This report will help them better understand the competition and end user’s requirements. It helps in gaining more insights and better positioning of their business. There is a separate section on competitive landscape, including ecosystem and portfolio comparison of the players in the market. The report also gives end user prospective by providing number of factors affecting their industry course. Besides, it covers company profiles of 14 major players and 10 key innovators in this market.

Table Of Contents 
 
1 Introduction (Page No. - 22)
  1.1 Key Take-Aways
  1.2 Report Description
  1.3 Markets Covered
  1.4 Stakeholders
  1.5 Research Methodology
      1.5.1 Key Data Points
      1.5.2 Data Triangulation And Forecasting
      1.5.3 Forecast Assumptions

2 Executive Summary (Page No. - 28)
  2.1 Abstract
  2.2 Overall Market Size

3 Market Ecosystem And Dynamics (Page No. - 32)
  3.1 Market Definition
  3.2 Market Evolution
  3.3 Market Segmentation
  3.4 Market Dynamics
      3.4.1 Drivers
            3.4.1.1 Growing Demand For Enhanced Customer Experience
            3.4.1.2 Increase In Adaption Of Smartphone
            3.4.1.3 Leverage Big Data
            3.4.1.4 Growth In Machine To Machine (M2M) Technology
      3.4.2 Restraints And Challenges
            3.4.2.1 Customer Adoption
            3.4.2.2 Challenges Posed By Government Regulations
      3.4.3 Opportunities
            3.4.3.1 Emerging Areas Of Applications
            3.4.3.2 Investments In Healthcare Sector
      3.4.4 Time-Impact Analysis Of Dynamics
      3.4.5 Value Chain

4  Natural Language Processing: Market Size And Forecast By Types (Page No. - 42)
  4.1 Introduction And Overview
  4.2 Rule Based  NLP
      4.2.1 Overview
      4.2.2 Market Size And Forecast By Verticals
      4.2.3 Market Size And Forecast By Regions
  4.3 Statistical  NLP
      4.3.1 Overview
      4.3.2 Market Size And Forecast By Verticals
      4.3.3 Market Size And Forecast By Regions
  4.4 Hybrid  NLP
      4.4.1 Overview
      4.4.2 Market Size And Forecast By Verticals
      4.4.3 Market Size And Forecast By Regions

5  Natural Language Processing: Market Size And Forecast, By Technologies (Page No. - 52)
  5.1 Introduction And Overview
  5.2 Recognition
      5.2.1 Interactive Voice Response (IVR)
            5.2.1.1 Overview
            5.2.1.2 Market Size And Forecast By Deployment Types
      5.2.2 Optical Character Recognition (OCR)
            5.2.2.1 Overview
            5.2.2.2 Market Size And Forecast By Deployment Types
      5.2.3 Pattern And Image Recognition
            5.2.3.1 Overview
            5.2.3.2 Market Size And Forecast By Deployment Types
  5.3 Operational
      5.3.1 Auto Coding
            5.3.1.1 Overview
            5.3.1.2 Market Size And Forecast By Deployment Types
      5.3.2 Classification And Categorization
            5.3.2.1 Overview
            5.3.2.2 Market Size And Forecast By Deployment Types
  5.4 Analytics
      5.4.1 Text Analytics
            5.4.1.1 Overview
            5.4.1.2 Market Size And Forecast By Deployment Types
      5.4.2 Speech Analytics
            5.4.2.1 Overview
            5.4.2.2 Market Size And Forecast By Deployment Types

6  Natural Language Processing: Market Size And Forecast By Services (Page No. - 63)
  6.1 Introduction And Overview
  6.2 Installation And Maintenance
      6.2.1 Overview
      6.2.2 Market Size And Forecast By Verticals
      6.2.3 Market Size And Forecast By Regions
  6.3 Training And Certification
      6.3.1 Overview
      6.3.2 Market Size And Forecast By Verticals
      6.3.3 Market Size And Forecast By Regions
  6.4 Consulting
      6.4.1 Overview
      6.4.2 Market Size And Forecast By Verticals
      6.4.3 Market Size And Forecast By Regions
  6.5 Other Services
      6.5.1 Overview
      6.5.2 Market Size And Forecast By Verticals
      6.5.3 Market Size And Forecast By Regions

7  Natural Language Processing: Market Size And Forecast, By Applications (Page No. - 75)
  7.1 Introduction And Overview
  7.2 Machine Translation
      7.2.1 Overview
      7.2.2 Market Size And Forecast By Regions
  7.3 Information Extraction
      7.3.1 Overview
      7.3.2 Market Size And Forecast By Regions
  7.4 Report Generation
      7.4.1 Overview
      7.4.2 Market Size And Forecast By Regions
  7.5 Question Answering
      7.5.1 Overview
      7.5.2 Market Size And Forecast By Regions
  7.6 Other Applications
      7.6.1 Overview
      7.6.2 Market Size And Forecast By Regions

8  Natural Language Processing: Market Size And Forecast By End Users (Page No. - 84)
  8.1 Enterprise  NLP
      8.1.1 Introduction And Overview
      8.1.2 Banking, Financial Services And Insurance (BFSI )
            8.1.2.1 Overview
            8.1.2.2 Market Size And Forecast By Applications
            8.1.2.3 Market Size And Forecast By Regions
      8.1.3 Automotive
            8.1.3.1 Overview
            8.1.3.2 Market Size And Forecast By Applications
            8.1.3.3 Market Size And Forecast By Regions
      8.1.4 Healthcare
            8.1.4.1 Overview
            8.1.4.2 Market Size And Forecast By Applications
            8.1.4.3 Market Size And Forecast By Regions
      8.1.5 It And Telecommunication
            8.1.5.1 Overview
            8.1.5.2 Market Size And Forecast By Applications
            8.1.5.3 Market Size And Forecast By Regions
      8.1.6 Legal And Commercial Offices
            8.1.6.1 Overview
            8.1.6.2 Market Size And Forecast By Applications
            8.1.6.3 Market Size And Forecast By Regions
      8.1.7 Government, Defense And Aerospace
            8.1.7.1 Overview
            8.1.7.2 Market Size And Forecast By Applications
            8.1.7.3 Market Size And Forecast By Regions
      8.1.8 Media And Advertisement
            8.1.8.1 Overview
            8.1.8.2 Market Size And Forecast By Applications
            8.1.8.3 Market Size And Forecast By Regions
      8.1.9 Academia And Education
            8.1.9.1 Overview
            8.1.9.2 Market Size And Forecast By Applications
            8.1.9.3 Market Size And Forecast By Regions
      8.1.10 Web And E-Commerce
             8.1.10.1 Overview
             8.1.10.2 Market Size And Forecast By Applications
             8.1.10.3 Market Size And Forecast By Regions
      8.1.11 Other Verticals
             8.1.11.1 Overview
             8.1.11.2 Market Size And Forecast By Applications
             8.1.11.3 Market Size And Forecast By Regions
  8.2 Customer  NLP
      8.2.1 Introduction And Overview
      8.2.2 Market Size And Forecast By Regions
  8.3 Market Analysis By Deployment Types
      8.3.1 On-Premise  NLP
      8.3.2 Overview
      8.3.3 Market Size And Forecast By Regions
      8.3.4 On-Demand  NLP
      8.3.5 Overview
      8.3.6 Market Size And Forecast By Regions

9 Natural Language Processing: Market Size And Forecast By Regions (Page No. - 114)
  9.1 Introduction And Overview
      9.1.1 Parfait Chart
  9.2 North America
      9.2.1 Overview
      9.2.2 Market Size And Forecast By End Users
  9.3 Asia Pacific
      9.3.1 Overview
      9.3.2 Market Size And Forecast By End Users
  9.4 Europe
      9.4.1 Overview
      9.4.2 Market Size And Forecast By End Users
  9.5 Middle East And Africa
      9.5.1 Overview
      9.5.2 Market Size And Forecast By End Users
  9.6 Latin America
      9.6.1 Overview
      9.6.2 Market Size And Forecast By End Users

10 Market Analysis, Trends And Insights (Page No. - 125)
   10.1 Competitive Landscape
        10.1.1 Ecosystem And Roles
        10.1.2 Portfolio Comparison
   10.2 End User Landscape
        10.2.1 Market Opportunity Analysis
        10.2.2 End User Analysis
               10.2.2.1 Adverse Drug Events And Medication Errors
               10.2.2.2 Number Of Enterprise Device Unit Shipments
               10.2.2.3 Call And Contact Center Organizations By Regions
               10.2.2.4 Market Penetration Through Connected Devices
                        10.2.2.4.1 Smart Tv Unit Shipments
 
11 Company Profiles (Mnm View, Overview, Products & Services, Financials, Swot Analysis And Strategy & Analyst Insights)*  (Page No. - 133)
   11.1 3M
   11.2 Apple
   11.3 Dolbey Systems
   11.4 Fuji Xerox
   11.5 Google
   11.6 HP
   11.7 IBM
   11.8 M*Modal
   11.9 Miiatech
   11.10 Microsoft
   11.11 Netbase Solutions
   11.12 Nuance Communications
   11.13 SAS
   11.14 Verint Systems
   *Details On Marketsandmarkets View, Overview, Products & Services, Financials, Swot Analysis And Strategy & Analyst Insights Might Not Be Captured In Case Of Unlisted Companies. 
   11.15 Other Key Innovators
         11.15.1 Anboto
         11.15.2 Artificial Solutions
         11.15.3 Lexalytics
         11.15.4 Linguamatics
         11.15.5  NLP Technologies
         11.15.6 Semantic Research
         11.15.7 Senexx
         11.15.8 Swiftkey
         11.15.9 Temis
         11.15.10 Yseop


Appendix  (Page No. - 194)
Mergers And Acquisitions (M&A)
Venture Capital (VC) Funding Analysis
Vendors Social Reach


List Of Tables  (105 Tables)
 
Table 1  Natural Language Processing (NLP): Market Forecast Assumptions
Table 2  Natural Language Processing (NLP), Market Size, 2013 - 2018 ($Million), Market Growth, 2013 - 2018 (Y-O-Y %) 
Table 3  Natural Language Processing (NLP): Types, Market Size, 2013 - 2018 ($Million)
Table 4  NLP: Types, Market Share, 2013 - 2018 (%)
Table 5  NLP: Types, Market Growth, 2013 - 2018 (Y-O-Y %)
Table 6  Rule Based  NLP, Market Size, By Verticals, 2013 – 2018 ($Million) 
Table 7  Rule Based  NLP, Market Size, By Regions, 2013 – 2018 ($Million) 
Table 8  Statistical  NLP, Market Size, By Verticals, 2013 – 2018 ($Million) 
Table 9  Statistical  NLP, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 10 Hybrid  NLP, Market Size, By Verticals, 2013 – 2018 ($Million) 
Table 11 Hybrid  NLP, Market Size, By Regions, 2013 – 2018 ($Million) 
Table 12  Natural Language Processing (NLP): Technologies, Market Size, 2013 - 2018 ($Million)
Table 13  NLP: Technologies, Market Share, 2013 - 2018 (%)
Table 14  NLP: Technologies, Market Growth, 2013 - 2018 (Y-O-Y %)
Table 15  Interactive Voice Response (IVR), Market Size,By Deployment Types, 2013 - 2018 ($Million) 
Table 16  Optical Character Recognition (OCR), Market Size, By Deployment Types, 2013 - 2018 ($Million) 
Table 17  Pattern And Image Recognition, Market Size, By Deployment Types, 2013 - 2018 ($Million) 
Table 18  Auto Coding, Market Size, By Deployment Types, 2013 - 2018 ($Million) 
Table 19  Classification And Categorization, Market Size, By Deployment Types, 2013 - 2018 ($Million) 
Table 20  Text Analytics, Market Size, By Deployment Types, 2013 - 2018 ($Million) 
Table 21  Natural Language Processing (NLP): Speech Analytics, Market Size, By Deployment Types, 2013 - 2018 ($Million) 
Table 22  Services, Market Size, 2013 - 2018 ($Million)
Table 23  Services, Market Share, 2013 - 2018 (%)
Table 24  Services, Market Growth, 2013 - 2018 (Y-O-Y %)
Table 25  Installation And Maintenance, Market Size, By Verticals, 2013 - 2018 ($Million) 
Table 26  Installation And Maintenance, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 27  Training And Certification, Market Size, By Verticals, 2013 - 2018 ($Million) 
Table 28  Training And Certification, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 29  Consulting, Market Size, By Verticals, 2013 - 2018 ($Million) 
Table 30  Consulting, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 31  Natural Language Processing (NLP): Other Services, Market Size, By Verticals, 2013 - 2018 ($Million) 
Table 32  Other Services, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 33  Applications, Market Size, 2013 - 2018 ($Million)
Table 34  Applications, Market Share, 2013 - 2018 (%)
Table 35  Applications, Market Growth, 2013 - 2018 (Y-O-Y %)
Table 36  Machine Translation, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 37  Information Extraction, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 38  Report Generation, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 39  Question Answering, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 40  Natural Language Processing (NLP): Other Applications, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 41  Enterprise Natural Language Processing, Market Size, By Verticals, 2013 - 2018 ($Million) 
Table 42  Enterprise NLP, Market Share, By Verticals, 2013 – 2018 (%) 
Table 43  Enterprise Natural Language Processing, Market Growth, By Verticals, 2013 - 2018 (Y-O-Y %) 
Table 44  BFSI, Market Size, By Applications, 2013 - 2018 ($Million)
Table 45  BFSI, Market Size, By Regions, 2013 - 2018 ($Million)
Table 46  Automotive, Market Size, By Applications, 2013 - 2018 ($Million) 
Table 47  Automotive, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 48  Healthcare, Market Size, By Applications, 2013 - 2018 ($Million) 
Table 49  Healthcare, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 50  IT And Telecommunication, Market Size, By Applications, 2013 - 2018 ($Million) 
Table 51  IT And Telecommunication, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 52  Legal And Commercial Offices, Market Size, By Applications, 2013 - 2018 ($Million) 
Table 53  Legal And Communication Offices, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 54  Government, Defense And Aerospace, Market Size, By Applications, 2013 - 2018 ($Million) 
Table 55  Government, Defense And Aerospace, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 56  Media And Advertisement, Market Size, By Applications, 2013 - 2018 ($Million)
Table 57  Media And Advertisement, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 58  Academia And Education, Market Size, By Applications, 2013 - 2018 ($Million)
Table 59  Academia And Education, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 60  Natural Language Processing: Web And E-Commerce, Market Size, By Applications, 2013 - 2018 ($Million) 
Table 61  Web And E-Commerce, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 62  NLP: Other Verticals, Market Size, By Applications, 2013 - 2018 ($Million) 
Table 63  Other Verticals, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 64  Consumer  NLP, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 65  On-Premise  NLP, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 66  On-Demand  NLP, Market Size, By Regions, 2013 - 2018 ($Million) 
Table 67  NLP: Regions, Market Size, 2013 - 2018 ($Million)
Table 68  NLP: Regions, Market Share, 2013 - 2018 (%)
Table 69  Regions, Market Growth, 2013 - 2018 (Y-O-Y %)
Table 70  North America, Market Size, By End Users, 2013 - 2018 ($Million) 
Table 71  Asia Pacific, Market Size, By End Users, 2013 - 2018 ($Million) 
Table 72  Europe, Market Size, By End Users,  2013 - 2018 ($Million)
Table 73  Middle East And Africa, Market Size, By End Users, 2013 - 2018 ($Million) 
Table 74  Latin America, Market Size, By End Users, 2013 - 2018 ($Million) 
Table 75  Enterprise Devices, By Unit Shipments, 2013 - 2018 (Million Units) 
Table 76  NLP: Smart Tv, By Unit Shipments, 2013 - 2018 (Million Units)
Table 77 3M: Revenue, 2011 – 2012 ($Million)
Table 78 3M: Revenue, By Segments, 2011 – 2012 ($Million)
Table 79 3M: Revenue, By Regions, 2011 – 2012 ($Million)
Table 80 Apple: Revenue, 2011 – 2012 ($Million)
Table 81 Apple: Revenue, By Segments, 2011 – 2012 ($Million)
Table 82 Apple: Revenue, By Regions, 2011 – 2012 ($Million)
Table 83 Fuji Xerox: Revenue, 2011 – 2012 ($Million)
Table 84 Fuji Xerox: Revenue, By Segments, 2011 – 2012 ($Million)
Table 85 Google: Revenue, 2011 – 2012 ($Million)
Table 86 Google: Revenue, By Segments, 2011 – 2012 ($Million)
Table 87 Google: Revenue, By Regions, 2011 – 2012 ($Million)
Table 88 HP: Revenue, 2011 – 2012 ($Million)
Table 89 HP: Revenue, By Segments, 2011 – 2012 ($Million)
Table 90 HP: Revenue, By Regions, 2011 – 2012 ($Million)
Table 91 IBM: Revenue, 2011 – 2012 ($Million)
Table 92 IBM: Revenue, By Segments, 2011 – 2012 ($Million)
Table 93 IBM: Revenue, By Regions, 2011 – 2012 ($Million)
Table 94 Microsoft: Revenue, 2011 - 2012 ($Million)
Table 95 Microsoft: Revenue, By Segments, 2011 - 2012 ($Million)
Table 96 Microsoft: Revenue, By Regions, 2011 - 2012 ($Million)
Table 97 Nuance Communications: Revenue, 2011 – 2012 ($Million)
Table 98 Nuance Communications: Revenue, By Segments, 2011 – 2012 ($Million) 
Table 99 SAS: Revenue, By Segments, 2011 – 2012 ($Million)
Table 100 SAS: Revenue, By Regions, 2011 – 2012 ($Million)
Table 101 Verint Systems: Revenue, 2012 – 2013 ($Million)
Table 102 Verint Systems: Revenue, By Segments, 2012 – 2013 ($Million)
Table 103 Verint Systems: Revenue, By Regions, 2012 – 2013 ($Million)
Table 104 M&A Impact Analysis
Table 105 Venture Funding (VC) Funding Analysis
 
 
List Of Figures (37 Figures)
 
Figure 1  Natural Language Processing: Data Triangulation And Forecasting
Figure 2  Natural Language Processing, Market Size, 2013 - 2018 ($Million), Market Growth,2013 - 2018 (Y-O-Y %) 
Figure 3  Market Evolution
Figure 4  Market Segmentation
Figure 5  Time Impact Analysis Of Dynamics
Figure 6  Value Chain
Figure 7  NLP: Types, Market Growth, 2013 - 2018 (Y-O-Y %)
Figure 8  NLP: Technologies, Market Growth, 2013 - 2018 (Y-O-Y %)
Figure 9  NLP: Services, Market Growth, 2013 - 2018 (Y-O-Y %)
Figure 10  Natural Language Processing: Applications, Market Growth, 2013 - 2018 (Y-O-Y %)
Figure 11  NLP: Verticals, Market Share, 2013 - 2018 (%)
Figure 12  Enterprise  NLP, Market Growth, By Verticals, 2013 - 2018 (Y-O-Y %) 
Figure 13  Consumer  NLP, Market Size, 2013 - 2018 ($Millions), Market Growth, 2013 - 2018 (Y-O-Y %)
Figure 14  NLP: Regions, Market Share, 2013 (%)
Figure 15  Regions, Market Growth 2013 – 2018 (Y-O-Y %)
Figure 16  NLP: Parfait Chart, Market Size And Growth, By Regions, 2013 – 2018 (Y-O-Y %) 
Figure 17  Natural Language Processing: Market Ecosystem And Roles
Figure 18  NLP: Product Category Mapping By Verticals
Figure 19  NLP: Market Opportunity Plot
Figure 20  Natural Language Processing: Increase In Medical Notes (Million Units)
Figure 21  NLP: Call And Contact Centers By Regions
Figure 22  NLP: Market Penetration In Connected Devices
Figure 23 3M: SWOT Analysis
Figure 24 Apple: SWOT Analysis
Figure 25 Dolbey Systems: SWOT Analysis
Figure 26 Fuji Xerox: SWOT Analysis
Figure 27 Google: SWOT Analysis
Figure 28 HP: SWOT Analysis
Figure 29 IBM: SWOT Analysis
Figure 30 M*Modal: SWOT Analysis
Figure 31 Miiatech: SWOT Analysis
Figure 32 Microsoft: SWOT Analysis
Figure 33 Netbase Solutions: SWOT Analysis
Figure 34 Nuance Communications: SWOT Analysis
Figure 35 SAS: SWOT Analysis
Figure 36 Verint Systems: SWOT Analysis
Figure 37 NLP: Vendor Social Reach

In last few decades, we have observed the evolution in machine technologies. The usage of computers, smartphones and other connecting devices has revolutionized the communication modes and business processes. This increasing trend for machine usage also brought the need for reducing gap between human and machine interaction for better experience and enhanced applications. The big data phenomenon also created a rising demand for robust Natural Language Processing (NLP) technologies which can extract and process human lingo on real time basis. This demand was high in few of the industries, such as healthcare and capital market. Furthermore, the rising amounts of social media content having rich unstructured information about customer’s perception and brand value has further encouraged the usage of NLP technologies in various applications. There is a growing demand for sentiment analysis in many business organizations across the globe.

Currently, rule based NLP, statistical NLP and hybrid NLP solutions are the leading forms of Natural Language Processing solutions. These forms are fulfilling customer’s requirements in the marketplace. There is ever growing need for innovation in this market. Organizations are not hesitant towards spending in building innovative processing engines that can be used with new technologies, such as machine to machine communication and multimodal data receptions. In healthcare industry, the demand for technologies is becoming much more prominent. Computer assisted coding is the leading form on NLP technology in the healthcare sector. Furthermore, the usage of NLP can be customized based on the functionality types, response requirements and business language followed by the industry. For instance, in the healthcare sector, there are standards such as ICD-9 and ICD-10. Moreover, there have been a good number of recent mergers and acquisitions in the market. This shows that the influence of technology is rapidly growing over the market leaders. Many emerging players are also entering into market with unique capabilities and innovative products and solutions. Many players are also providing solutions over cloud, as Software as Service (SaaS). The cloud form is one of the growing reasons for the easy adoption and acceptance of Natural Language Processing technologies in the market.

MarketsandMarkets has segmented the market by types: rule based, statistical and hybrid NLP; by type of technologies: recognition (Interactive Voice Response (IVR), Optical Character Recognition (OCR), and pattern and image recognition), operational (auto coding, and categorization and classification), and analytics (speech analytics and text analytics); by type of services: installation and maintenance, training and certification, consulting, and other services; by types of applications: machine translation, information extraction, report generation, question answering and other applications; by type of end users: enterprise NLP (BFSI, automobile, healthcare, IT and Telecommunication, legal and commercial offices, government, defense and aerospace, media and advertisement, academia and education, web and e-commerce and other verticals), and consumer NLP; by deployment types: on-premise and on-demand; by type of regions: North America (NA), Asia Pacific (APAC), Europe, Middle East and Africa (MEA) and Latin America (LA).

The NLP market report analyzes global technologies trends, drivers and evolutions in this rapidly emerging market. The report aims at identifying and evaluating the current market size and future user insights, major players and competitive trend in market.

The table and figure below shows the MarketsandMarkets’ forecast of the Natural Language Processing market. The market is expected to grow from $3787.3 million in 2013 to $9,858.4 million in 2018. This represents a CAGR of 21.1% from 2013 to 2018. The table below highlights market size across various regions. The table below also highlights the overall market opportunity, in terms of absolute dollar value and Y-o-Y growth.

Natural Language Processing(NLP): Market Size, 2013–2018 ($Million), Market Growth, 2013 – 2018 (Y-O-Y %)

Natural Language Processing (NLP) Market

Source: MarketsandMarkets Analysis

Natural Language Processing(NLP): Market Size, 2013 - 2018 ($Million), Market Growth, 2013 - 2018 (Y-O-Y %)

Natural Language Processing (NLP) Market

Source: MarketsandMarkets Analysis

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