Kolkata, West Bengal -- (SBWIRE) -- 08/10/2020 -- According to a new market research report published by sheer analytics and insights, "The Global Natural Language Processing (NLP) Market was $9.6 Bn in 2020, and it is expected to reach $23.50 Bn by 2028. It is eventually growing at a commendable high compound of annual growth rate CAGR of 11.8% between 2020-2028, as per the latest market research report titled Global Natural Language Processing (NLP) Market (By Type - Statistical NLP, Hybrid based NLP, and Rule NLP. By Component - Solutions, and Services. By Technology - Recognition Technologies, Operational Technologies, and Analytics Technologies. By Deployment Mode - On premise, and Cloud. By Application - Text Classification, Machine Translation, Information Extraction, Report Generation, Question Answering, Sentiment Analysis, Automatic Summarization, and Others. By End-User, Automotive, Healthcare, BFSI, IT and Telecom, Government, Defense & Aerospace, Media & Advertisement, and Academia and Education. By Geography-North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)– Global industry analysis, size, share, growth, trends, and forecast, 2019-2028.

Browse the Full report at https://www.sheeranalyticsandinsights.com/market-report-research/natural-language-processing-nlp-market-21

Natural language processing is a field of artificial intelligence and machine learning. It is considered as a communication bridge between humans and technology that understands and interpret the voice and text command from human to machine language. Today, the huge amount of data is being generated from numerous sources such as documents, web blogs, social networking sites, emails, and forums. The natural language processing technique is expected to revolutionary technique to hand big data analysis. The Natural Language Processing (NLP) Market is majorly driven by the increasing use of digital data, and smart device. Moreover, the quick rise in cloud-based solutions and NLP based applications to enhance customer service, and significant technological investment in the healthcare sector is also projected to trigger market growth during the forecast period. However, the lack of skilled professionals and complexity associated with advanced technology are some of the factors restricting the market growth to some extent. Apart from this, the rising use of cognitive technology in AI and higher adoption of cloud-based services is projected to present a lucrative opportunity for the market growth in the forecast timeline from 2020 to 2028.

Geographically, The Natural Language Processing (NLP) Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa.

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Major Players in Global Natural Language Processing (NLP) Market

Some of the key players in the global Natural Language Processing (NLP) Market include IBM Corporation, SAS Institute Inc., Google Inc., Microsoft Corporation, Amazon Web Services, Dolbey Systems, Inc., Apple Inc, Facebook, Inc., Baidu, Inc, Netbase, and Conversica, Inc.

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The Global Natural Language Processing (NLP) Market Has Been Segmented into:

Global Natural Language Processing (NLP) Market: By Type

Statistical NLP
Hybrid based NLP
Rule NLP

Global Natural Language Processing (NLP) Market: By Component

Solutions
Services
Global Natural Language Processing (NLP) Market: By Technology

Recognition Technologies
Operational Technologies
Analytics Technologies

Global Natural Language Processing (NLP) Market: By Deployment Mode

On premise
Cloud

Global Natural Language Processing (NLP) Market: By Application

Text Classification
Machine Translation
Information Extraction
Report Generation
Question Answering
Sentiment Analysis
Automatic Summarization
Others

Global Natural Language Processing (NLP) Market: By End-User

Automotive
Healthcare
BFSI
IT and Telecom
Government, Defense & Aerospace
Media & Advertisement
Academia and Education

Global Natural Language Processing (NLP) Market: By Geography Type

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Browse the Full report at https://www.sheeranalyticsandinsights.com/market-report-research/natural-language-processing-nlp-market-21

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