Natural language generation (NLG) is a subfield of the natural language processing (NLP) technology that deals with the conversion of machine data into human-readable data. The NLG software turns structured data into human-written narratives and helps business users in automating content generation tasks. NLG software and services also help organizations in saving time and money by enabling their employees to focus on value-added tasks. The natural language generation market 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%. Factors such as the increasing business need to understand customers’ behavior is expected to drive the global natural language generation market.
Vendors of the natural language generation market include Arria NLG (UK), Yseop (US), IBM (US), Automated Insights (US), Artificial Solutions (Spain), NARRATIVEWAVE (US), Narrative Science (US), Narrativa (UAE), Amazon Web Services (AWS) (US), Retresco (Germany), Phrasee (UK), Conversica (Conversica) (US), Linguastat (US), NewsRx (US), vPhrase (India), Phrasetech (Israel), CoGenTex (CoGenTex) (US), AX Semantics (Germany), Textual Relations (Sweden), and 2txt - natural language generation GmbH (2txt) (Germany). These players have embraced different strategies to extend their worldwide presence and market shares. Partnerships, new product launches, product upgradations, mergers and acquisitions, joint ventures, and expansions are said to be the significant strategies embraced by the market players in the natural language generation market.
Arria NLG is an UK-based software company and is headquartered in London, UK. The company particularly develops a NLG platform to provide rich, narrative content, and analysis from big data. The company provides NLG solutions and services to its customers across the globe. Arria NLG offers NLG solutions in 3 distinct forms, namely, NLG platform, NLG professional services, and custom-built services, which are made available through cloud. It also offers NLG functions under its microservices to build its own smaller NLG applications that can be integrated with users’ applications to add the NLG functionality. Arria NLG partnered with INOVX Solutions, a provider of the3D asset integrity management to companies operating in the process industry. Arria’s NLG platform would provide data analysis and commentary to INOVX’s 3D asset modeling software.
Automated Insights is a US-based software solution provider that is headquartered in North Carolina, US. The company was founded in 2007. It developed an easy-to-use NLG tool Wordsmith that transforms data into narratives, such as summaries, articles, and headlines. This real-time content automation tool is useful to draw insights from visualizations that include charts, tables, and graphs. Moreover, it helps build applications that run on the Wordsmith platform. The company offers managed services to companies across various industries and provides customized NLG solutions to derive instant insights into data. Automated Insights expanded its presence in the Americas region by opening new offices in New York, Portland, and Seattle. This expansion would enable the company to serve its solutions to increasing number of customers. In February 2016, Automated Insights demonstrated Wordsmith, a NLG solution, at the eTail West retail eCommerce conference. This solution would enable retail professionals to prepare product descriptions in quick time.
Natural Language Generation (NLG) Market by Application (CEM, Fraud Detection & Anti-money laundering), Component (Software & Services), Business Function, Deployment Model, Organization Size, Industry Vertical, and Region - Global Forecast to 2023
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