One of the major drivers in the natural language processing 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.
Pune, Maharastra -- (SBWIRE) -- 01/19/2016 -- The global natural language processing market analyst says text analytics is used in healthcare to provide adequate treatment to the public. The analysts forecast global NLP market to grow at a CAGR of 16.11% over the period 2014-2019.Healthcare organizations use text analytics to diagnose diseases accurately and to improve overall healthcare services. In addition, this software is used in clinical research to search for chemical compounds in clinical documents and reports, which helps to establish relationships among genetic markers and diseases. This process helps healthcare experts to isolate the right biological compounds that act as disease-causing agents
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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 and Co-reference resolution
The goal of NLP is to reduce the time for understanding computer languages such as Java, C, C++, and Ruby.
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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.
Covered in this report
The natural language processing market 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
Key players in the global natural language processing market are: 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
Further, the natural language processing market market 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.
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