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Dublin, March 02, 2021 (GLOBE NEWSWIRE) -- The "Natural Language Processing Market by Component, Type (Statistical, Hybrid), Application (Automatic Summarization, Sentiment Analysis, Risk & Threat Detection), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering. The Global Natural Language Processing (NLP) Market Size to Grow from USD 11.6 Billion in 2020 to USD 35.1 Billion by 2026, at a Compound Annual Growth Rate (CAGR) of 20.3% during the Forecast Period. Growing demand for cloud-based NLP solutions to reduce overall costs and better scalability and increasing usage of smart devices to facilitate smart environments are expected to drive the NLP market growth. The rise in the adoption of NLP-based applications across verticals to enhance customer experience and increase in investments in the healthcare vertical is expected to offer opportunities for NLP vendors.The global spread of COVID-19 has generated numerous privacy, data protection, security, and compliance questions. These challenges have increased the need for companies and organizations to secure and analyze their sensitive data for strategic business decisions. New practices such as work from home and social distancing have increased the requirement of NLP solutions and services, and the development of digital infrastructures for large-scale technology deployments. Organizations are implementing NLP solutions and services to access the landscape of scientific papers relevant to the coronavirus pandemic. Moreover, scientists are developing COVID-19 therapeutics which uses NLP technology to track new papers, particularly around drug or vaccine safety. The services segment is expected to grow at a higher CAGR during the forecast period The NLP market is segmented on the basis of components into solutions and services. The services segment is expected to grow at a higher CAGR during the forecast period. NLP services play a vital role in the functionality of NLP platform and software tools. These services are an integral step in deploying tools and are taken care of by solution, platform, and service providers. The demand for NLP software tools and platform is increasing globally due to the rising demand to gain real-time insights from voice or speech data across BFSI, healthcare and life sciences, and retail and eCommerce vertical. On-premises segment is expected to grow at a higher CAGR during the forecast period The NLP market by deployment mode has been segmented into on-premises and cloud. Enterprises opt for the deployment mode based on their requirements regarding the scalability and level of data security required. The on-premises mode is the most preferable among the enterprises, which consider data as a valuable asset and need to maintain high-level security to comply with regulations. The cloud deployment mode is dominating the market due to its advantages, such as scalability, easy availability, and cost-savings. The cloud segment is expected to account for a larger market size during the forecast period. Among verticals, the healthcare and life sciences segment to grow at the highest CAGR during the forecast period The NLP market is segmented into the various verticals, particularly BFSI, IT and telecom, retail and eCommerce, healthcare and life sciences, transportation and logistics, government and public sector, energy and utilities, manufacturing, others (education, travel and hospitality, and media and entertainment). The healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period. The vertical's high growth rate can be attributed to the increasing healthcare complexities and growing need for advanced NLP-driven EHRs to extract meaningful insights from unstructured clinical data. To address the COVID-19 impact on the BFSI vertical, the adoption of digital technologies such as video banking facilities, AI-supported tools, and conversational platforms has become essential. North America to hold the largest market size during the forecast period The NLP market has been segmented into five regions: North America, Europe, APAC, MEA, and Latin America. Among these regions, North America is projected to hold the largest market size during the forecast period. Improvements in cloud computing platforms, which are now more efficient, affordable, and capable of processing complex information, have led to the growth of inexpensive software development tools and plentiful datasets, which play a vital role in the development of AI technology in the US market. APAC is expected to grow at the highest CAGR during the forecast period on account of the rising awareness and increasing AI investments. Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights4.1 Attractive Opportunities in Natural Language Processing Market4.2 Market: Top Three Applications4.3 Market: by Component and Top Three Verticals4.4 Market, by Region 5 Market Overview5.1 Introduction5.2 Natural Language Processing: Evolution5.3 Natural Language Processing: Architecture5.4 Market Dynamics5.4.1 Drivers5.4.1.1 Increasing Usage of Smart Devices to Facilitate Smart Environments5.4.1.2 Growing Demand for Cloud-Based NLP Solutions to Reduce Overall Costs and Better Scalability5.4.1.3 Rising Urge of Predictive Analytics to Reduce Risks and Identify Growth Opportunities5.4.2 Restraints5.4.2.1 Complexities due to the Usage of Code-Mixed Language while Implementing NLP Solutions5.4.2.2 Limitations in the Development of NLP Technology Using Neural Networks Restricting the Usage of Cloud-Based Services5.4.3 Opportunities5.4.3.1 Increase in Investments in the Healthcare Vertical5.4.3.2 Rise in the Adoption of NLP-Based Applications Across Verticals to Enhance Customer Experience5.4.4 Challenges5.4.4.1 Regulatory and Privacy Concerns Over Data Security5.4.4.2 Interoperability and Reliability Issues while Deploying NLP Algorithms5.4.5 Cumulative Growth Analysis5.5 Case Study Analysis5.5.1 Introduction5.5.1.1 Use Case: Scenario 15.5.1.2 Use Case: Scenario 25.5.1.3 Use Case: Scenario 35.5.1.4 Use Case: Scenario 45.5.1.5 Use Case: Scenario 55.5.1.6 Use Case: Scenario 65.6 Natural Language Processing Market: COVID-19 Impact5.7 Patent Analysis5.8 Supply Chain Analysis5.9 Value Chain Analysis5.10 Regulatory Landscape5.10.1 General Data Protection Regulation5.10.2 Health Insurance Portability and Accountability Act of 19965.10.3 Governance, Risk, and Compliance5.10.4 European Union Data Protection Regulation5.10.5 Can-Spam Act5.10.6 Sarbanes-Oxley Act of 20025.11 Pricing Model Analysis5.12 Porter's Five Forces Analysis5.12.1 Threat of New Entrants5.12.2 Threat of Substitutes5.12.3 Bargaining Power of Suppliers5.12.4 Bargaining Power of Buyers5.12.5 Intensity of Competitive Rivalry5.13 Technology Analysis5.13.1 Artificial Intelligence and Natural Language Processing5.13.2 Deep Learning and Natural Language Processing5.13.3 Big Data and Natural Language Processing 6 Natural Language Processing Market, by Component6.1 Introduction6.1.1 Components: COVID-19 Impact6.1.2 Components: Market Drivers6.2 Solutions6.2.1 Platform6.2.2 Software Tools6.3 Services6.3.1 Professional Services6.3.1.1 Consulting6.3.1.2 System Integration and Implementation6.3.1.3 Support and Maintenance6.3.2 Managed Services 7 Natural Language Processing Market, by Deployment Mode7.1 Introduction7.1.1 Deployment Modes: COVID-19 Impact7.1.2 Deployment Modes: Market Drivers7.2 On-Premises7.3 Cloud 8 Natural Language Processing Market, by Organization Size8.1 Introduction8.1.1 Organization Size: COVID-19 Impact8.1.2 Organization Size: Market Drivers8.2 Small and Medium-Sized Enterprises8.3 Large Enterprises 9 Natural Language Processing Market, by Type9.1 Introduction9.1.1 Types: COVID-19 Impact9.1.2 Types: Market Drivers9.2 Rule-Based9.3 Statistical9.4 Hybrid 10 Natural Language Processing Market, by Application10.1 Introduction10.1.1 Applications: COVID-19 Impact10.1.2 Applications: Market Drivers10.2 Sentiment Analysis10.3 Data Extraction10.4 Risk and Threat Detection10.5 Automatic Summarization10.6 Content Management10.7 Language Scoring10.8 Others 11 Natural Language Processing Market, by Vertical11.1 Introduction11.1.1 Verticals: COVID-19 Impact11.1.2 Verticals: Market Drivers11.2 Banking, Financial Services, and Insurance11.3 It and Telecom11.4 Retail and Ecommerce11.5 Healthcare and Life Sciences11.6 Transportation and Logistics11.7 Government and Public Sector11.8 Energy and Utilities11.9 Manufacturing11.10 Others 12 Natural Language Processing Market, by Region12.1 Introduction12.2 North America12.3 Europe12.4 Asia-Pacific12.5 Middle East and Africa12.6 Latin America 13 Competitive Landscape13.1 Overview13.2 Market Evaluation Framework13.3 Market Share, 202013.4 Historic Revenue Analysis of Key Market Players13.5 Key Market Developments13.5.1 New Product Launches and Product Enhancements13.5.2 Business Expansions13.5.3 Mergers and Acquisitions13.5.4 Partnerships, Agreements, Contracts, and Collaborations13.6 Company Evaluation Matrix Definitions and Methodology13.7 Company Evaluation Matrix, 202013.7.1 Star13.7.2 Emerging Leaders13.7.3 Pervasive13.7.4 Participants13.7.5 Strength of Product Portfolio13.7.6 Business Strategy Excellence13.8 Startup/SME Evaluation Matrix, 202013.8.1 Progressive Companies13.8.2 Responsive Companies13.8.3 Dynamic Companies13.8.4 Starting Blocks13.8.5 Strength of Product Portfolio13.8.6 Business Strategy Excellence 14 Company Profiles14.1 Introduction14.2 IBM14.3 Microsoft14.4 Google14.5 Amazon Web Services14.6 Facebook14.7 Apple14.8 3M14.9 Intel14.10 Baidu14.11 SAS Institute14.12 Linguamatics14.13 Inbenta14.14 Health Fidelity14.15 Veritone14.16 Dolbey14.17 Narrative Science14.18 Bitext14.19 Conversica14.20 Sparkcognition14.21 Automated Insights14.22 Gnani.Ai14.23 Niki.Ai14.24 Mihup14.25 Observe.Ai14.26 Hyro14.27 Just Ai14.28 Ragavera 15 Adjacent and Related Markets15.1 Introduction15.2 NLP in Healthcare and Life Sciences Market - Global Forecast to 202515.2.1 Market Definition15.2.2 Market Overview15.2.2.1 NLP in Healthcare and Life Sciences Market Size, by Component15.2.2.2 NLP in Healthcare and Life Sciences Market Size, by Type15.2.2.3 NLP in Healthcare and Life Sciences Market Size, by Deployment Mode15.2.2.4 NLP in Healthcare and Life Sciences Market Size, by Organization Size15.2.2.5 NLP in Healthcare and Life Sciences Market Size, by Application15.2.2.6 NLP in Healthcare and Life Sciences Market Size, by End-user15.2.2.7 NLP in Healthcare and Life Sciences Market Size, by Region15.3 Conversational AI Market- Global Forecast to 202515.3.1 Market Definition15.3.2 Market Overview15.3.2.1 Conversational AI Market, by Component15.3.2.2 Conversational AI Market, by Type15.3.2.3 Conversational AI Market, by Technology15.3.2.4 Conversational AI Market, by Deployment Mode15.3.2.5 Conversational AI Market, by Application15.3.2.6 Conversational AI Market, by Vertical15.3.2.7 Conversational AI Market, by Region 16 Appendix16.1 Industry Experts16.2 Discussion Guide16.3 Knowledge Store: The Subscription Portal16.4 Available Customizations For more information about this report visit https://www.researchandmarkets.com/r/ac4vu1 CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
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