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Natural Language Processing (NLP) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global natural language processing (NLP) market reached a value of US$ 14.27 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 61.03 Billion by 2027 exhibiting a CAGR of 26.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Natural language processing, or NLP, refers to a branch of artificial intelligence (AI) that enables computers to understand, analyze and interpret human language, both spoken and written. It allows users to have human-like conversations with a computer directly by using AI and algorithms that help computers accurately recognize and respond to human communication. It also assists software programs in translating text from one language to another, performing speech recognition, and summarizing large volumes of textual data in real-time. Nowadays, businesses extensively utilize NLP in customer service chatbots, virtual assistants, voice-operated GPS systems, voice-to-text apps, and other computer programs.

 

 
 

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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Natural Language Processing (NLP) Market Trends:

NLP helps organizations enhance customer experience, streamline business operations, simplify mission-critical processes, and increase overall productivity. As a result, enterprises are rapidly adopting NLP solutions to improve their internal and external operations. Moreover, the rising digitization of data and the growing usage of the internet and connected devices are augmenting the product demand. Besides this, the escalating demand for advanced data analytics, coupled with significant advancements in the fields of image and speech recognition, is also catalyzing the market growth. Additionally, there has been widespread adoption of NLP in healthcare and call centers to handle massive volumes of generated data. Furthermore, several social media platforms are utilizing text analytics and NLP technologies to manage the published content and monitor activities, such as hate speeches and political reviews, which are providing lucrative growth opportunities to the market. Other factors, including the surging sales of smart devices, emerging NLP applications in various industries, rising investments in AI, and increasing popularity of voice-based solutions, are also driving the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global natural language processing (NLP) market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, technology, deployment mode, organization size and end user.

Breakup by Type:

 

 
 

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  • Hardware
  • Software
  • Services
     

Breakup by Technology:

  • Interactive Voice Response
  • Optical Character Recognition
  • Text Analytics
  • Speech Analytics
  • Classification and Categorization
  • Pattern and Image Recognition
  • Others
     

Breakup by Deployment Mode:

  • On-premises
  • Cloud-based
     

Breakup by Organization Size:

  • Large Enterprises
  • Small and Medium-sized Enterprises
     

Breakup by End User:

  • Education
  • BFSI
  • Healthcare
  • IT and Telecom
  • Manufacturing and Retail
  • Media and Entertainment
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 3M Company, Apple Inc., FUJIFILM Holdings Corporation, Google LLC (Alphabet Inc.), Intel Corporation, International Business Machines Corporation, Meta Platforms Inc., Microsoft Corporation, NetBase Solutions Inc., Nokia Corporation, SAS Institute Inc. and Verint Systems.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Technology, Deployment Mode,Organization Size, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 3M Company, Apple Inc., FUJIFILM Holdings Corporation, Google LLC (Alphabet Inc.), Intel Corporation, International Business Machines Corporation, Meta Platforms Inc., Microsoft Corporation, NetBase Solutions Inc., Nokia Corporation, SAS Institute Inc. and Verint Systems.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Natural Language Processing (NLP) Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type
    6.1    Hardware
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Software
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Services
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Technology
    7.1    Interactive Voice Response
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Optical Character Recognition
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Text Analytics
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Speech Analytics
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Classification and Categorization
        7.5.1 Market Trends
        7.5.2 Market Forecast
    7.6    Pattern and Image Recognition
        7.6.1 Market Trends
        7.6.2 Market Forecast
    7.7    Others
        7.7.1 Market Trends
        7.7.2 Market Forecast
8    Market Breakup by Deployment Mode
    8.1    On-premises
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Cloud-based
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Breakup by Organization Size
    9.1    Large Enterprises
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Small and Medium-sized Enterprises
        9.2.1 Market Trends
        9.2.2 Market Forecast
10    Market Breakup by End User
    10.1    Education
        10.1.1 Market Trends
        10.1.2 Market Forecast
    10.2    BFSI
        10.2.1 Market Trends
        10.2.2 Market Forecast
    10.3    Healthcare
        10.3.1 Market Trends
        10.3.2 Market Forecast
    10.4    IT and Telecom
        10.4.1 Market Trends
        10.4.2 Market Forecast
    10.5    Manufacturing and Retail
        10.5.1 Market Trends
        10.5.2 Market Forecast
    10.6    Media and Entertainment
        10.6.1 Market Trends
        10.6.2 Market Forecast
    10.7    Others
        10.7.1 Market Trends
        10.7.2 Market Forecast
11    Market Breakup by Region
    11.1    North America
        11.1.1 United States
           11.1.1.1 Market Trends
           11.1.1.2 Market Forecast
        11.1.2 Canada
           11.1.2.1 Market Trends
           11.1.2.2 Market Forecast
    11.2    Asia-Pacific
        11.2.1 China
           11.2.1.1 Market Trends
           11.2.1.2 Market Forecast
        11.2.2 Japan
           11.2.2.1 Market Trends
           11.2.2.2 Market Forecast
        11.2.3 India
           11.2.3.1 Market Trends
           11.2.3.2 Market Forecast
        11.2.4 South Korea
           11.2.4.1 Market Trends
           11.2.4.2 Market Forecast
        11.2.5 Australia
           11.2.5.1 Market Trends
           11.2.5.2 Market Forecast
        11.2.6 Indonesia
           11.2.6.1 Market Trends
           11.2.6.2 Market Forecast
        11.2.7 Others
           11.2.7.1 Market Trends
           11.2.7.2 Market Forecast
    11.3    Europe
        11.3.1 Germany
           11.3.1.1 Market Trends
           11.3.1.2 Market Forecast
        11.3.2 France
           11.3.2.1 Market Trends
           11.3.2.2 Market Forecast
        11.3.3 United Kingdom
           11.3.3.1 Market Trends
           11.3.3.2 Market Forecast
        11.3.4 Italy
           11.3.4.1 Market Trends
           11.3.4.2 Market Forecast
        11.3.5 Spain
           11.3.5.1 Market Trends
           11.3.5.2 Market Forecast
        11.3.6 Russia
           11.3.6.1 Market Trends
           11.3.6.2 Market Forecast
        11.3.7 Others
           11.3.7.1 Market Trends
           11.3.7.2 Market Forecast
    11.4    Latin America
        11.4.1 Brazil
           11.4.1.1 Market Trends
           11.4.1.2 Market Forecast
        11.4.2 Mexico
           11.4.2.1 Market Trends
           11.4.2.2 Market Forecast
        11.4.3 Others
           11.4.3.1 Market Trends
           11.4.3.2 Market Forecast
    11.5    Middle East and Africa
        11.5.1 Market Trends
        11.5.2 Market Breakup by Country
        11.5.3 Market Forecast
12    SWOT Analysis
    12.1    Overview
    12.2    Strengths
    12.3    Weaknesses
    12.4    Opportunities
    12.5    Threats
13    Value Chain Analysis
14    Porters Five Forces Analysis

    14.1    Overview
    14.2    Bargaining Power of Buyers
    14.3    Bargaining Power of Suppliers
    14.4    Degree of Competition
    14.5    Threat of New Entrants
    14.6    Threat of Substitutes
15    Price Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Key Players
    16.3    Profiles of Key Players
        16.3.1    3M Company
           16.3.1.1 Company Overview
           16.3.1.2 Product Portfolio
           16.3.1.3 Financials
           16.3.1.4 SWOT Analysis
        16.3.2    Apple Inc.
           16.3.2.1 Company Overview
           16.3.2.2 Product Portfolio
           16.3.2.3 Financials
           16.3.2.4 SWOT Analysis
        16.3.3    FUJIFILM Holdings Corporation
           16.3.3.1 Company Overview
           16.3.3.2 Product Portfolio
           16.3.3.3 Financials
           16.3.3.4 SWOT Analysis
        16.3.4    Google LLC (Alphabet Inc.)
           16.3.4.1 Company Overview
           16.3.4.2 Product Portfolio
           16.3.4.3 Financials
           16.3.4.4 SWOT Analysis
        16.3.5    Intel Corporation
           16.3.5.1 Company Overview
           16.3.5.2 Product Portfolio
           16.3.5.3 Financials
           16.3.5.4 SWOT Analysis
        16.3.6    International Business Machines Corporation
           16.3.6.1 Company Overview
           16.3.6.2 Product Portfolio
           16.3.6.3 Financials
           16.3.6.4 SWOT Analysis
        16.3.7    Meta Platforms Inc.
           16.3.7.1 Company Overview
           16.3.7.2 Product Portfolio
           16.3.7.3 Financials
           16.3.7.4 SWOT Analysis
        16.3.8    Microsoft Corporation
           16.3.8.1 Company Overview
           16.3.8.2 Product Portfolio
           16.3.8.3 Financials
           16.3.8.4 SWOT Analysis
        16.3.9    NetBase Solutions Inc.
           16.3.9.1 Company Overview
           16.3.9.2 Product Portfolio
        16.3.10    Nokia Corporation
           16.3.10.1 Company Overview
           16.3.10.2 Product Portfolio
           16.3.10.3 Financials
           16.3.10.4 SWOT Analysis
        16.3.11    SAS Institute Inc.
           16.3.11.1 Company Overview
           16.3.11.2 Product Portfolio
           16.3.11.3 SWOT Analysis
        16.3.12    Verint Systems
           16.3.12.1 Company Overview
           16.3.12.2 Product Portfolio
           16.3.12.3 Financials
           16.3.12.4 SWOT Analysis

List of Figures

Figure 1: Global: Natural Language Processing Market: Major Drivers and Challenges
Figure 2: Global: Natural Language Processing Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Natural Language Processing Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Natural Language Processing Market: Breakup by Type (in %), 2021
Figure 5: Global: Natural Language Processing Market: Breakup by Technology (in %), 2021
Figure 6: Global: Natural Language Processing Market: Breakup by Deployment Mode (in %), 2021
Figure 7: Global: Natural Language Processing Market: Breakup by Organization Size (in %), 2021
Figure 8: Global: Natural Language Processing Market: Breakup by End User (in %), 2021
Figure 9: Global: Natural Language Processing Market: Breakup by Region (in %), 2021
Figure 10: Global: Natural Language Processing (Hardware) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Natural Language Processing (Hardware) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Natural Language Processing (Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Natural Language Processing (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Natural Language Processing (Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Natural Language Processing (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Natural Language Processing (Interactive Voice Response) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Natural Language Processing (Interactive Voice Response) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Natural Language Processing (Optical Character Recognition) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Natural Language Processing (Optical Character Recognition) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Natural Language Processing (Text Analytics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Natural Language Processing (Text Analytics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Natural Language Processing (Speech Analytics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Natural Language Processing (Speech Analytics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Natural Language Processing (Classification and Categorization) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Natural Language Processing (Classification and Categorization) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Natural Language Processing (Pattern and Image Recognition) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Natural Language Processing (Pattern and Image Recognition) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Natural Language Processing (Other Technologies) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Natural Language Processing (Other Technologies) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Natural Language Processing (On-premises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Natural Language Processing (On-premises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Natural Language Processing (Cloud-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Natural Language Processing (Cloud-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Natural Language Processing (Large Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Natural Language Processing (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Global: Natural Language Processing (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Natural Language Processing (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Global: Natural Language Processing (Education) Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Global: Natural Language Processing (Education) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Global: Natural Language Processing (BFSI) Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Global: Natural Language Processing (BFSI) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Global: Natural Language Processing (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Global: Natural Language Processing (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Global: Natural Language Processing (IT and Telecom) Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Global: Natural Language Processing (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Global: Natural Language Processing (Manufacturing and Retail) Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Global: Natural Language Processing (Manufacturing and Retail) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Global: Natural Language Processing (Media and Entertainment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Global: Natural Language Processing (Media and Entertainment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Global: Natural Language Processing (Other End Users) Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Global: Natural Language Processing (Other End Users) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: North America: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: North America: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: United States: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: United States: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Canada: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Canada: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Asia-Pacific: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Asia-Pacific: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: China: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: China: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Japan: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Japan: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: India: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: India: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: South Korea: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: South Korea: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Australia: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Australia: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Indonesia: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Indonesia: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Others: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Others: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Europe: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Europe: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Germany: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Germany: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: France: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: France: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: United Kingdom: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: United Kingdom: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Italy: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 83: Italy: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 84: Spain: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 85: Spain: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 86: Russia: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 87: Russia: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 88: Others: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 89: Others: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 90: Latin America: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 91: Latin America: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 92: Brazil: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 93: Brazil: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 94: Mexico: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 95: Mexico: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 96: Others: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 97: Others: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 98: Middle East and Africa: Natural Language Processing Market: Sales Value (in Million US$), 2016 & 2021
Figure 99: Middle East and Africa: Natural Language Processing Market: Breakup by Country (in %), 2021
Figure 100: Middle East and Africa: Natural Language Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 101: Global: Natural Language Processing Industry: SWOT Analysis
Figure 102: Global: Natural Language Processing Industry: Value Chain Analysis
Figure 103: Global: Natural Language Processing Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Natural Language Processing Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Natural Language Processing Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Natural Language Processing Market Forecast: Breakup by Technology (in Million US$), 2022-2027
Table 4: Global: Natural Language Processing Market Forecast: Breakup by Deployment Mode (in Million US$), 2022-2027
Table 5: Global: Natural Language Processing Market Forecast: Breakup by Organization Size (in Million US$), 2022-2027
Table 6: Global: Natural Language Processing Market Forecast: Breakup by End User (in Million US$), 2022-2027
Table 7: Global: Natural Language Processing Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 8: Global: Natural Language Processing Market: Competitive Structure
Table 9: Global: Natural Language Processing Market: Key Players

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Key Questions Answered in This Report

The global natural language processing (NLP) market was valued at US$ 14.27 Billion in 2021.

We expect the global natural language processing (NLP) market to exhibit a CAGR of 26.60% during
2022-2027.

The extensive utilization of natural language processing solution in customer service chatbots, virtual
assistants, voice-operated GPS systems, voice-to-text apps, and other computer programs, is
primarily driving the global natural language processing (NLP) market.

The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of Natural
Language Processing (NLP) solutions across numerous enterprises, to remotely improve internal and
external operations and increase overall productivity.

Based on the technology, the global natural language processing (NLP) market has been divided into
interactive voice response, optical character recognition, text analytics, speech analytics,
classification and categorization, pattern and image recognition, and others. Among these, text
analytics exhibit a clear dominance in the market.

Based on the deployment mode, the global natural language processing (NLP) market can be
categorized into on-premises and cloud-based, where on-premises hold the majority of the total
market share.

Based on the organization size, the global natural language processing (NLP) market has been
segmented into large enterprises and small and medium-sized enterprises. Currently, small and
medium-sized enterprises represent the largest market share.

Based on the end user, the global natural language processing (NLP) market can be bifurcated into
education, BFSI, healthcare, IT and telecom, manufacturing and retail, media and entertainment,
and others. Among these, the IT and telecom sector accounts for the majority of the global market
share.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle
East and Africa, and Latin America, where North America currently dominates the global market.

Some of the major players in the global natural language processing (NLP) market include 3M
Company, Apple Inc., FUJIFILM Holdings Corporation, Google LLC (Alphabet Inc.), Intel Corporation,
International Business Machines Corporation, Meta Platforms Inc., Microsoft Corporation, NetBase
Solutions Inc., Nokia Corporation, SAS Institute Inc., and Verint Systems.

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