Global Cloud Natural Language Processing Market by Type (Rulebased Natural Language Processing, Statistical Natural Language Processing, Hybrid Natural Language Processing), By Application (Information Extraction, Machine Translation, Processing and Visualization, Question Answering, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global cloud natural language processing market is expected to grow at a CAGR of over 20% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for natural language processing services from various end-user industries, such as healthcare, retail, and banking and financial services. Additionally, the growing demand for big data analytics and artificial intelligence is also contributing to the growth of the global cloud natural language processing market. The global cloud natural language processing market can be segmented on the basis of type into rule-based natural language processing, statistical natural language processing, and hybrid NLP. Statistical NLP dominates the global cloud NLP market due to its ability to handle large amounts of data with better accuracy as compared to rule-based or hybrid NLP systems. On the basis of application, information extraction accounts for a major share in terms of revenue in 2017; however, machine translation is expected grow at a higher CAGR during 2018–2030 owing its growing adoption by various end-user industries across different regions.



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Product Definition:

Cloud natural language processing (NLP) is a form of NLP that runs in the cloud. It offers many advantages over on-premises NLP systems, including scalability, elasticity, and lower costs.

Rulebased Natural Language Processing:

Natural language processing (NLP) is the part of artificial intelligence concerned with the study and implementation of human-like communication using natural languages. The technology helps in understanding user intent from their input text by analyzing patterns in their usage. It also helps enterprises improve customer service by extracting information from customer feedback and reviews, analyze financial data for risk & fraud detection, automate reporting & compliance checks, among others.

Statistical Natural Language Processing:

Statistical Natural Language Processing (SNLP) is a subfield of Artificial Intelligence (AI). It studies the problem of natural language processing from a statistical perspective. SNLP uses probability and statistics to analyze the content of natural language documents. The field has seen rapid growth in recent years, fueled by advances in AI technology and growing adoption by major tech companies such as Google, Microsoft, Baidu, IBM Corporation among others.

The key application areas analyzed.

Application Insights:

The processing and visualization segment dominated the global market in terms of revenue share in 2017. This is attributed to the rising adoption of cloud computing, which provides computational power as well as storage space to run machine learning algorithms for data analysis. The increasing availability of large datasets has led to an increased focus on data analytics applications across numerous industries worldwide. Cloud NLP helps organizations extract information from unstructured text sources such as images, sound files, videos and blogs with higher accuracy and precision using techniques such as Named Entity Recognition (NER), Text Classification, Sentiment Analysis etc.

Cloud NLP solutions also offer a combination of services including text translation (into multiple languages) along with other language-enabled services such as speech recognition or interpretation or translation between different languages etc.

Regional Analysis:

North America dominated the global market in 2017. This can be attributed to the presence of a large number of prominent players, including Google LLC; Microsoft Corporation; IBM Corporation; and Amazon Web Services, Inc. (AWS). Moreover, these companies are continuously investing in R&D activities to develop advanced natural language processing technologies. For instance, in November 2018, AWS introduced a new cloud-based service called Lex API for developers to build applications using natural language processing capabilities offered by this platform.

Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period owing to increasing investments by prominent players such as Baidu Inc.; Alibaba Group Holding Ltd.; and Tencent Holdings Limited., etc., for developing advanced NLP solutions applicable across various industry verticals such as retail & ecommerce and automotive sector.

Growth Factors:

Increasing demand for cloud-based services and growing number of SMEs opting for cloud-based services are the primary growth drivers for the Cloud NLP market.
The increasing demand from various industry verticals such as retail, ecommerce, healthcare, and automotive is also propelling the growth of this market.
The rising need to analyze big data to obtain valuable insights is also fueling the adoption of Cloud NLP solutions and services.
Growing awareness about the benefits of Cloud NLP solutions among small businesses is another major factor that is contributing to the growth of this market.


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Scope Of The Report
Report Attributes
Report Details
Report Title
Cloud Natural Language Processing Market Research Report
By Type
Rulebased Natural Language Processing, Statistical Natural Language Processing, Hybrid Natural Language Processing
By Application
Information Extraction, Machine Translation, Processing and Visualization, Question Answering, Others
By Companies
3M Company, Apple, Amazon Webrvices, Baidu, Convergys Corporation, Digital Reasoning Systems, Dolbey Systems, Facebook, Fuji Xerox, Google, HP Enterprise, IBM Corporation, Interactions, Lexalytics, Microsoft Corporation, Netbase Solution, Nuance Communications, SAP, SAS Institute, Verint Systems
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
240
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.

Global Cloud Natural Language Processing Market Report Segments:
The global Cloud Natural Language Processing market is segmented on the basis of:
Types
Rulebased Natural Language Processing, Statistical Natural Language Processing, Hybrid Natural Language Processing
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Information Extraction, Machine Translation, Processing and Visualization, Question Answering, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
3M Company
Apple
Amazon Webrvices
Baidu
Convergys Corporation
Digital Reasoning Systems
Dolbey Systems
Facebook
Fuji Xerox
Google
HP Enterprise
IBM Corporation
Interactions
Lexalytics
Microsoft Corporation
Netbase Solution
Nuance Communications
SAP
SAS Institute
Verint Systems



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Highlights of The Cloud Natural Language Processing Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Rulebased Natural Language Processing
Statistical Natural Language Processing
Hybrid Natural Language Processing
By Application:
Information Extraction
Machine Translation
Processing and Visualization
Question Answering
Others
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Cloud Natural Language Processing Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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