Pune, Maharashtra -- (SBWIRE) -- 02/02/2017 -- Market Scenario

The major growth driver of Natural Language Processing (NLP) Market includes growing market of machine technologies and advanced devices such as computers, and smartphones, rise in adoption of big data technologies, high usage of speech technology in automotive service center, and growing focus on social media monitoring among others. However, high installation cost is one of the factors which are hindering the growth of Natural Language Processing (NLP) Market.

The Natural Language Processing (NLP) is a computer algorithm which processes the human voice, understands the text and makes it accessible on computer application. The growing need of speech recognition and text conversation in education, automotive and healthcare sector to handle much larger data sets in the respective field is generating demand for the market growth study of natural language processing (NLP); it also provides competitive advantage to various major companies.

Key Players
Nuance Communications (U.S.)
IBM Corporation (U.S.)
Google Inc. (U.S.)
Microsoft Corporation (U.S.)
3M Company (U.S.)
SAS Institute, Inc. (U.S.)
Cerner Systems, Inc. (U.S.)
Dolbey Systems, Inc. (U.S.)
Verint Systems, Inc. (U.S.)
Oracle Corporation (U.S.)

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Industry News:

-Dolbey Systems got appreciation in year 2015 for speech recognition in KLAS category. Dolbey has developed fusion speech recognition product which include front-end and back-end speech software.

-3M Company has acquired Switzerland based medical coding technology company, Semfinder in September 2016. This acquisition would provide new coding technology which will enable 3M to accelerate its 3M 360 encompass system in other regions where there is a high adoption of electronic medical records.

Segments

Segmentation by Type
-Rule-based
-Statistical
-Hybrid NLP

Segmentation by Method
-Recognition
-Operational and analytics technologies

Segmentation by Deployment
-On-Demand
-On-Premise

Segmentation by Applications
-Education, Healthcare
-Communication
-Enterprises
-BFSI
-Retail
-Government
-Automotive

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High adoption of big data technologies and rise in use of speech technology in automotive service center is the key trend for this market. With increasing investment of market players in manufacturing and developing Smartphones and tablets to serve the growing market of machine technologies and advanced devices such as computers, and smartphones, especially the American and APAC countries are taking many initiatives to implement the Natural Language Processing (NLP) effectively in their region

Regional Analysis

North America is dominating the Global Natural Language Processing (NLP) Market with the largest market share in the region, and therefore accounting for $XX million and is expected to grow over $XX billion by 2022. Natural Language Processing (NLP) Market in Europe market is expected to grow at CAGR of XX% from $ XX million in 2016 to $XX million by 2022. The Asia-Pacific market for Natural Language Processing (NLP) Market is expected to grow at XX% CAGR (2016-2022).

The report for Natural Language Processing (NLP) Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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