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Global Natural Language Processing Market to Grow at a CAGR of 16.11% over the Period 2014 - 2019; Finds New Report

Market Research Reports, Inc. has announced the addition of “Global Natural Language Processing Market 2015 - 2019” research report to their website


Lewes, DE -- (SBWIRE) -- 01/21/2016 -- Report forecast the global NLP market to grow at a CAGR of 16.11% over the period 2014-2019.

Natural language processing is a computer application that can understand human language. It is a part of AI. It is a computerized technique in which human communication is analyzed and interpreted based on a set of theories and technologies by the computer. It is both based on text and speech provided to the computer. Currently, NLP approaches are based on machine learning that uses patterns for understanding own programs.

The most common NLP in all the software packages includes:
- Sentence segmentation, part-of-speech tagging, and parsing
- Deep analytics
- Named entity extraction
- Co-reference resolution

The goal of NLP is to reduce the time for understanding computer languages such as Java, C, C++, and Ruby.

The development of NLP solutions is difficult because computers need humans to speak in a programming language that needs to be precise, unambiguous, and highly structured with less amount of enunciated voice commands. However, human speech cannot be precise, and it is often ambiguous and depend on variables that include slang, regional dialects, and social context.

This report covers the present scenario and growth prospects of the global NLP market for 2015-2019. To calculate the market size, the report considers revenue generated from the sales of NLP solutions in the global market from the following segments:
- Recognition market: This includes the revenue generated from speech recognition, OCR , and IVR systems market
- Analytics market: This includes the revenue generated from text and speech analytics
- Operational market: This includes the revenue generated from categorization and auto-coding process

This report also segments the market according to the end-users, deployment model, and by product.

According to the report, one of the major drivers in the market is the increase in the use of NLP in the healthcare industry. The healthcare industry is vast and has to deal with a lot of confidential data, so it needs to invest heavily in IT infrastructure. The data is either structured or unstructured, and it needs to be analyzed and communicated to both medical personnel and patients.

Further, the report states that one of the main challenges with NLP is its inability to avoid external noise. Recognition applications are highly sound-sensitive, so any ambient noise reduces its accuracy levels. Although the voice and speech recognition industry has witnessed several advances in technology, high sensitivity to sound remains a barrier to the adoption of recognition applications.

key players in the Global Natural Language Processing Market: 3M, Apple, Google and Microsoft

Other Prominent Vendors in the market are: A3logics, AlchemyAPI, Apixio, Aylien, Dolbey Systems, Fluxifi, HP, IBM, Linguamatics, Mmodal, Netbase, Nuance Communication, SAS Institute, Textalytics and Verint Systems

Key regions
- Europe
- Latin America
- North America

Key market driver
- Increase in use of NLP in healthcare industry
- For a full, detailed list, view our report

Key market challenge
- Inability to suppress ambient noise
- For a full, detailed list, view our report

Key market trend
- Growing use of text analytics in healthcare industry
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 68 pages and 26 Exhibit "Global Natural Language Processing Market 2015 - 2019" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market Overview, Market Landscape, Market segmentation by application, Market segmentation by technology, Market segmentation by product, Market segmentation by end-user, Market segmentation by deployment model, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

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