Technology & Telecommunications

According to a market report by Lucintel, the future of the natural language processing (NLP) technology in the global artificial intelligence market looks promising with opportunities in the BFSI, IT & telecom, retail and ecommerce, healthcare and life science, transportation & logistic, government & public sector, media & entertainment, and manufacturing end use industries. The natural language processing (NLP) technology in the global artificial intelligence market is expected to reach an estimated $7.3 billion by 2028 with a CAGR of 15.9% from 2023 to 2028. The major drivers for this market are rapid acceptance of smart devices, growing demand for advanced text analytics, and emerging requirement for data management owing to increasing complexity in major businesses.  



On-premises and cloud are the major segments of natural language processing (NLP) technology in artificial intelligence by deployment. Lucintel forecasts that on-premise will remain the larger deployment segment over the forecast period because it ensures full control, visibility, and authentication security controls over data.

Within this market, BFSI will remain the largest end use industry segment from 2023 to 2028 because it helps the companies in mitigating risk through information retrieval, intent parsing, customer services, and compliance process automation.



North America will remain the largest region during the forecast period due to the presence of AI and machine learning (ML) technology, increasing R&D activities, and ongoing advancements in cloud computing platforms in the region.

3M, Apple, AWS, Baidu, Google LLC, IBM Corporation, Meta, Microsoft, Oracle, Inbenta, and IQVIA are the major suppliers of natural language processing (NLP) technology in the global artificial intelligence market.



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for natural language processing (NLP) technology in the global artificial intelligence market by component, type, deployment, application, end use industry, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities for Natural Language Processing (NLP) Technology in the Global Artificial Intelligence Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for natural language processing (NLP) technology in the global artificial intelligence market by component, type, deployment, application, end use industry, and region, as follows:

 

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

 

Q.1. What are some of the most promising, high-growth opportunities for the natural language processing (NLP) technology in the global artificial intelligence market by component (solutions and services), type (statistical NLP, rule based NLP, and hybrid NLP), deployment (on-premises and cloud), application (customer experience management, virtual assistants/ chatbots, social media monitoring, sentiment analysis, text clarification & summarization, employee onboarding & recruiting, and others), end use industry (BFSI, IT & telecom, retail and ecommerce, healthcare and life sciences, transportation & logistics, government & public sector, media & entertainment, manufacturing, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity did occur in the last five years and how did they impact the industry?