How big is the NLP Market?

The NLP Market size is expected to reach USD 31.76 billion in 2024 and grow at a CAGR of 23.97% to reach USD 92.99 billion by 2029. Read More

What is the current NLP Market size?

In 2024, the NLP Market size is expected to reach USD 31.76 billion. Read More

Who are the key players in NLP Market?

Microsoft Corporation, Micro Focus International PLC (HPE) , SAS Institute Inc. , IBM Corporation and Google Inc. (Alphabet Inc.) are the major companies operating in the NLP Market. Read More

Which is the fastest growing region in NLP Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in NLP Market?

In 2024, the North America accounts for the largest market share in NLP Market. Read More

What years does this NLP Market cover, and what was the market size in 2023?

In 2023, the NLP Market size was estimated at USD 25.62 billion. The report covers the NLP Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the NLP Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Natural Language Processing Market - Size, Share & Industry Growth

Natural Language Processing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Natural Language Processing Companies and is Segmented by Deployment (On-premise and Cloud), Organization Size (Large Organizations and Small and Medium Organizations), Type (Hardware, Software, and Services), Processing Type (Text, Speech/Voice, and Image), End-user Industry (Education, BFSI, Healthcare, IT and Telecom, Retail, Manufacturing, Media, and Entertainment), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Natural Language Processing Industry Overview

The Natural Language Processing Market is highly competitive and consists of several major players who have been trying to gain larger shares. These major players with prominent shares in the market have been focusing on expanding their customer base across foreign countries. They are providing new innovative solutions, along with deals and mergers, to increase their market shares and profitability. Key players include Google Inc. and Microsoft Corporation.

In October 2022, Red Hat and IBM launched Project Wisdom, a project to integrate natural language processing (NLP) into the open-source Ansible IT operations automation platform. The objective is to make IT automation more accessible to a larger spectrum of end users and IT professionals who lack the declarative programming skills required to automate IT operations using YAML files.