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The natural language processing market is expected to grow from USD 18.9 billion in 2023 to USD 68.1 billion in 2028, at a CAGR of 29.3%  during the forecast period. The expansion of the natural language processing market is driven by multiple factors, such as advancements in text-analyzing computer programs, rising need for enterprise solutions to streamline business operations for better customer experience, surging demand for cloud-based NLP solutions to reduce overall costs and enhance scalability and demand for predictive analytics to reduce risks and identify growth opportunities.

Major Natural Language Processing (NLP) Companies Include

• IBM (US)
• Microsoft (US)
• Meta (US)
• 3M (US)
• Baidu (China)
• Apple (US)
• SAS Institute (US)

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IBM, a multinational technology corporation, provides a range of technology services, including infrastructure hosting. The company operates through five primary business segments: cloud and cognitive software, global business services, global technology services, systems, and global financing. IBM Cloud has emerged as a favored platform for business applications due to its compatibility with artificial intelligence (AI). This unified platform seamlessly integrates IBM's capabilities into a single architecture, encompassing both public and private platforms. This robust cloud platform allows IBM to address the diverse needs of businesses worldwide. IBM serves various industries, including aerospace & defense, education, healthcare, oil & gas, automotive, electronics, insurance, retail & consumer products, banking & finance, energy & utility, life sciences, telecommunications, media & entertainment, chemicals, government, manufacturing, travel & transportation, construction, and metals & mining. The company maintains a strong global presence, with clients in over 175 countries across the Americas, Europe, the Middle East, Africa, and Asia Pacific.

IBM is a prominent player in the NLP market, offering services and solutions based on its IBM Watson platform. IBM Watson simplifies complex NLP technologies, making them accessible to non-data scientists within organizations. IBM's products are designed for non-technical users, enabling businesses to streamline operations, enhance employee productivity, and simplify critical business processes effortlessly.

Microsoft holds a prominent position as a global leader and supplier of a diverse range of software products and comprehensive licensing solutions. The company is actively involved in the development and maintenance of software, services, devices, and holistic solutions. Its extensive product portfolio encompasses Operating Systems (OS), productivity applications for various devices, server applications, business solutions, desktop and server management tools, software development tools, and video games. Microsoft also engages in the design, production, and sale of devices, including personal computers, tablets, gaming consoles, intelligent gadgets, and related accessories. The company provides a wide array of services, including solution support, consulting services, and cloud-based solutions that furnish customers with software, services, platforms, and content. Additionally, Microsoft plays a pivotal role in the creation of analytics platforms and delivers production services for the AI-powered intelligent cloud. Revenue generation primarily hinges on software product licensing and support services. Microsoft serves an extensive range of industries, spanning finance and insurance, manufacturing, retail, media & entertainment, the public sector, healthcare, IT, and telecommunications. With a global presence spanning over 190 countries across North America, Asia Pacific, Latin America, the Middle East, and Europe, Microsoft continues to be a dominant force in the technology landscape.

Meta, formerly known as Facebook, is a social media website, web page, commercial, and predictive analytics company. The company builds augmented reality, enabling people to interact and communicate with technologies throughout its virtual-reality goal, the metaverse. Meta is a public company listed on the NASDAQ under the ticker symbol FB. The company’s main products include Meta, Instagram, Messenger, WhatsApp, and Oculus. These products enable people to communicate with peers efficiently. The company is also developing various technologies, such as AI, AR, and VR, which help society become more open and connected. Meta has offices and data centers across 30 countries, with 40 sales offices across the globe. Meta generates most revenues from advertising, such as displaying customer ads on Instagram and Meta. It helps the firm’s potential customers based on age, gender, place, hobbies, and activity by selling ad slots.

Meta majorly generates revenue from selling ads on its platform to enable marketers to target specific users and increase their marketing reach, thereby acquiring, engaging, and retaining customers through payments and other fees received from developers using their payments infrastructure. It also has multiple investments in connectivity efforts, AI, and AR to develop and strengthen the technological base to serve its end users better. Among other technologies, Meta uses built-in NLP to understand and extract meaningful information from user interactions on its platform. It heavily focuses on breaking down language barriers worldwide for everyone by deploying robust language translation solutions through R&D on deep learning, neural networks, NLP, language identification, text normalization, word sense disambiguation, and ML.

3M (US)

3M (Minnesota Mining and Manufacturing Company) is a diversified American technology and manufacturing conglomerate operating in various industries, including healthcare, consumer goods, industrial, safety, and electronics. Known for its innovative products, 3M's extensive portfolio includes items like Post-it notes, Scotch tape, N95 respirators, and many industrial and consumer products. With over 100,000 patents, 3M is recognized for its commitment to innovation and sustainability and is publicly traded on the NYSE under the ticker symbol MMM.

Baidu (China)

Baidu, Inc., based in China, is a major internet company primarily known for its search engine services. It also offers online advertising, AI, cloud computing, and autonomous driving technology. Baidu has made significant advancements in artificial intelligence, voice recognition, and digital mapping. As a leader in AI research in China, Baidu's contributions to natural language processing and autonomous driving are noteworthy. Baidu is listed on NASDAQ under the ticker symbol BIDU.

Apple (US)

Apple Inc., headquartered in the United States, is a global leader in technology and consumer electronics. Renowned for its innovative hardware, software, and services, Apple's product lineup includes the iPhone, iPad, Mac computers, Apple Watch, and Apple TV. It also offers various services like the App Store, Apple Music, iCloud, and Apple Pay. Apple's emphasis on design, user experience, and ecosystem integration has made it one of the most valuable and influential companies globally. Apple is traded on NASDAQ under the ticker symbol AAPL.

SAS Institute (US)

SAS Institute, also based in the United States, is a leading developer of analytics software, providing solutions for data management, advanced analytics, business intelligence, and AI. Widely used across industries such as banking, healthcare, retail, and government, SAS software enhances decision-making through data analysis and predictive modeling. Known for its continuous innovation and commitment to R&D, SAS Institute is a privately held company and not publicly traded.

Related Reports:

Natural Language Processing (NLP) Market by Offering (Solutions, Services), Type (Rule-based, Statistical, Hybrid), Application (Sentiment Analysis, Social Media Monitoring), Technology (IVR, OCR, Auto Coding), Vertical & Region - Global Forecast to 2028

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