Natural Language Processing (NLP): Global Market Analysis and Insights

Aug 2023| IFT280A| BCC Publishing

Report Highlights

The global natural language processing (NLP) market should reach $92.7 billion by 2028 from $29.1 billion in 2023 at a compound annual growth rate (CAGR) of 26.1% for the forecast period of 2023 to 2028.

Report Includes

  • 52 tables and 24 additional tables
  • An overview and up-to-date analysis of the global market for the natural language processing (NLP) technologies
  • Analyses of the global market trends, with historic market revenue data (sales figures) for 2022, estimates for 2023, forecasts for 2024, and projections of compound annual growth rates (CAGRs) through 2028
  • Highlights of emerging technology trends, opportunities and gaps estimating current size and anticipated growth of the overall NLP market and its related market segments, and identification of the major regions and countries involved in market developments
  • Estimation of the actual market size and revenue forecast for the global NLP market in USD million values, and corresponding market share analysis based on the component, deployment type, organization size, technology type, application, industry vertical, and region
  • Updated information on key market drivers and opportunities, industry shifts and regulations, and other region and industry specific macroeconomic variables that will influence this market in the coming years (2023-2028)
  • Review of patents in the NLP market along with the global NLP based patent applications and patents granted for a brief period
  • A look at the major growth strategies adopted by leading players operating in the market for NLP technologies, recent developments, strategic alliances, and competitive benchmarking
  • Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
  • Descriptive company profiles of the leading global players of the industry, including 3M, Apple Inc., IBM Corp., Meta Platforms Inc. and SAS Institute Inc.

Report Scope

In this report, the global NLP market has been segmented based on organization size, component, provider, type, industry and geography. The report provides an overview of the global natural processing market and analyses market trends. Using 2022 as the base year, this report provides estimated market data for the forecast period from 2023 to 2028. Revenue forecasts for this period are segmented based on component, deployment, organization size, type, application, industry vertical and geography. Market values have been estimated based on the total revenue of NLP solution providers.

The report covers the NLP market with regard to the user base across different regions. It also highlights major trends and challenges that affect the market and the vendor landscape. The report estimates the global market for NLP in 2022 and provides projections for the expected market size through 2028. The report explains the value chain and current trends in the global markets for NLP. It concludes with detailed profiles of the major market players.

Frequently Asked Questions (FAQs)

The Global NLP market is projected to grow from $23.8 billion in 2022 to $92.7 billion in 2028, at a compound annual growth rate (CAGR) of 26.1% during the forecast period.
The key factors driving the growth of NLP market includes rising adoption of natural language processing among business to enhance customer service, growing interest and investments in AI technologies, growing volume of unstructured data and regulatory compliance and risk management.
The global NLP market is segmented based on component, deployment, organization size, type, application, industry vertical, and region.
Virtual Assistants/Chatbots will dominate the market by the end of 2028.
North America holds the highest share in the market.
Key companies in the market includes 3M, Alphabet Inc., AMAZON INC., Apple Inc., IBM Corp., Intel Corp., Microsoft Corp., OpenAI, Oracle Inc., SAP SE, SAS Institute Inc.

Analyst Credentials

BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.

Report Synopsis

Report Metrics Details
Base year considered 2022
Forecast period considered 2023-2028
Base year market size $23.8 billion
Market size forecast $92.7 billion
Growth rate CAGR of 26.1%
Units considered $ Millions
Segments covered component, deployment, organization size, type, application, industry vertical, and region
Regions covered North America, Europe, Asia-Pacific, and ROW
Countries covered U.S., Canada, Mexico, Germany, France, U.K., Spain, Rest of Europe, China, India, Japan, Rest of Asia-Pacific, South America, Middle East and Africa
Key Market Drivers
  • Rising adoption of NLP among business to enhance customer service
  • Growing interest and investments in AI technologies
  • Growing volume of unstructured data through NLP
  • Regulatory compliance and risk management
Companies studied
  • 3M
  • GOOGLE INC. (ALPHABET INC.)
  • AMAZON.COM INC.
  • APPLE INC.
  • HEWLETT PACKARD ENTERPRISE DEVELOPMENT LP
  • IBM
  • INBENTA INC.
  • INTEL CORP.
  • IQVIA
  • JUST AI LTD.
  • META PLATFORMS INC.
  • MICROSOFT CORP.
  • NARRATIVE SCIENCE (TABLEAU SOFTWARE)
  • NETBASE QUID
  • OPENAI LP
  • ORACLE CORP.
  • SAP
  • SAS INSTITUTE INC.
  • SOUNDHOUND AI INC.
  • VERINT SYSTEMS INC.

Table of Contents

All reports provided in PDF format. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at info@bccresearch.com
Title/Chapter NamePagesMember Price
Full Report: Natural Language Processing (NLP): Global Market Analysis and Insights178Free
Chapter- 1: Introduction12Free
Chapter- 2: Summary and Highlights3Free
Chapter- 3: Market Overview11Free
Chapter- 4: Market Dynamics6Free
Chapter- 5: Market Breakdown by Segment10Free
Chapter- 6: Market Breakdown by Deployment6Free
Chapter- 7: Market Breakdown by Organization Size5Free
Chapter- 8: Market Breakdown by Type7Free
Chapter- 9: Market Breakdown by Application13Free
Chapter- 10: Market Breakdown by Industry Vertical18Free
Chapter- 11: Market Breakdown by Region30Free
Chapter- 12: Patent Analysis4Free
Chapter- 13: Emerging Technologies 9Free
Chapter- 14: Merger and Acquisition Outlook4Free
Chapter- 15: Competitive Landscape7Free
Chapter- 16: Company Profiles33Free
Natural Language Processing (NLP): Global Market Analysis and Insights

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