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NATURAL LANGUAGE PROCESSING (NLP)

Global Market Trajectory & Analytics

MCP-7932

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  •  DATE

    JULY 2020

  •  TABLES

    76

  •  PAGES

    166

  •  EDITION

    17

  •  PRICE

    USD $5450


COVID-19 IMPACT SURVEY
Amid the COVID-19 crisis, the global market for Natural Language Processing (NLP) estimated at US$13 Billion in the year 2020, is projected to reach a revised size of US$25.7 Billion by 2027, growing at a CAGR of 10.3% over the analysis period 2020-2027.Statistical NLP, one of the segments analyzed in the report, is projected to grow at a 10.2% CAGR to reach US$10.9 Billion by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Rule-based NLP segment is readjusted to a revised 11% CAGR for the next 7-year period. This segment currently accounts for a 29.7% share of the global Natural Language Processing (NLP) market.
The Natural Language Processing (NLP) market in the U.S. is estimated at US$3.8 Billion in the year 2020. The country currently accounts for a 29.66% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$4.5 Billion in the year 2027 trailing a CAGR of 9.6% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.4% and 8.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.4% CAGR while Rest of European market (as defined in the study) will reach US$4.5 Billion by the year 2027.
In the global Hybrid NLP segment, USA, Canada, Japan, China and Europe will drive the 9.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.9 Billion in the year 2020 will reach a projected size of US$5.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3 Billion by the year 2027.We bring years of research experience to this 17th edition of our report. The 166-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others, 3M Company; Amazon Web Services, Inc.; Apple, Inc.; Dolbey Systems, Inc.; Google Cloud Platform; Hewlett-Packard Development Company LP; IBM Corporation; Inbenta Technologies, Inc.; Microsoft Corporation; NetBase Solutions, Inc.; Nuance Communications, Inc.; SAS Institute, Inc.; SparkCognition, Inc.; Verint Systems, Inc.
» Solution Type (Statistical NLP, Rule-based NLP, and Hybrid NLP) » Vertical (BFSI, IT & Telecommunication, Automotive, Healthcare, Media & Entertainment, and Other Verticals)
» World » United States » Canada » Japan » China » Europe » France » Germany » Italy » United Kingdom » and Rest of Europe » Asia-Pacific » Rest of World

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