The study methodologies used to examine Natural Language Generation (NLG) Market for the forecast period, 2020 - 2027 further classifies the industry by type, geography, end-use and end-user to add more precision and bring to light factors responsible for augmenting business development.

New York, NY -- (SBWire) -- 02/12/2021 --Natural Language Generation (NLG) Market

The rise in the number of cyberspace users generating huge data each second and the growing need for customized content has given rise to the adoption of smart machine learning algorithms in the system. Natural Language Generation (NLG) is the software technology used to convert structured data to the natural language used by content creators to provide custom information. As per the recent report published by Reports and Data, the global natural language generation market was valued at USD 38.6 Million in the year 2019 and is rapidly growing at an average annual rate of 16.1%, with an expectancy to reach a significant share of USD 1,161.3 Million by the end of the projected timeline.

Key participants Narrative Science, IBM, AWS, Artificial Solutions, Retresco, Phrasee, CoGenTex, AX Semantics, Conversica, Linguastat.

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Market Drivers

The substantial usage of NLG among data analysts to process data and information using deep learning has given massive propulsion to the market. Mainly applied in the research industry to automatize custom content for web surfers, natural language generation is also beneficial for analysis of business dashboards, creating reference sentences for chatbots in conversations, and easily interpretable by text-to-speech software.  The NLG goes through different levels to form a coherent sentence, including content recognition, sentence structuring, agglomeration, lexical choice, document generation, and realization. The automatically generated narratives at the speed of hundreds of pages per second make for efficient business solutions for large firms working on generating meaningful information from raw data.

For the purpose of this report, global NLG market according to Component, Business Function, Organizational Size, Deployment Mode, End-User, Application, and Region:

Component Type Outlook (Revenue, USD Million; 2016-2026)

Services
Managed Services
Professional Services
Software

Business Function Type Outlook (Revenue, USD Million; 2016-2026)

Legal
Finance
Operations
Marketing and Sales
Human Resources

Organizational size Type Outlook (Revenue, USD Million; 2016-2026)

Large Enterprises
Small and Medium-Sized Enterprises

Deployment mode Type Outlook (Revenue, USD Million; 2016-2026)

On-premises
Cloud

End-User Type Outlook (Revenue, USD Million; 2016-2026)

Retail and Ecommerce
Banking, Financial Services, and Insurance
Healthcare and Life Sciences
Government and Defense
Telecom and IT
Manufacturing
Energy and Utilities
Media and Entertainment
Others

Application Type Outlook (Revenue, USD Million; 2016-2026)

Predictive Maintenance
Fraud Detection and Anti-Money Laundering
Customer Experience Management
Risk and Compliance Management
Others

Regional Analysis

North America held the largest market share of 42.0% in 2018 due to escalating technological advancements in the region. The flourishing artificial intelligence industry and increasing investment in NLG  will likely influence further growth. The expansion of the healthcare and BFSI sectors will promote growth in the European market, while Asia Pacific will be the fastest-growing market owing to rising e-commerce in developing nations, including China, India, and Japan.

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Table of Content:

Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technology
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Natural Language Generation Market Segmentation & Impact Analysis
4.1. Natural Language Generation Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. The rising need to perceive the behavior of customers in various industries
4.2.2.2. The elevated demand for big data and the related technologies
4.2.3. Market restraints analysis
4.2.3.1. Lack of NLG solution's awareness among end-users
4.2.3.2. Lack of skilled professionals and consultants for deployment of NLG solutions and services
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price Trend Analysis

Continued…

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