Global Text-based NLP Market Size | 2019-2032

Global Text-based NLP Market Size and Forecast by Technology, Deployment Model, Industry, Organization Size, Application, and Region: Statistics | 2019-2032

Avalibale Format*:   Pivot  |  ReportID: AI42436  |  Coverage: GLOBAL | Type: DataBook
Category: Information Technology  |  Sub-Category: Artificial Intelligence
Published Date: July 2024   

Text-based NLP Market Growth and Performance

Global Text-based NLP Market


Key Takeaways:

  • In 2023, the global text-based NLP market size reached US$ 6.49 Billion, witnessing a YoY growth of 30.4%.
  • The market is projected to experience a significant upsurge in market revenue, reaching US$ 45.78 Billion by the end of 2032.
  • In terms of growth, the global text-based NLP market is anticipated to expand at a CAGR of 23.7% between 2024 and 2032.
  • The machine learning-based NLP segment is projected to experience a significant upsurge in market revenue, reaching US$ 26.75 Billion by the end of 2032.
  • The text-based NLP market is expected to witness an absolute dollar opportunity of US$ 39.30 Billion between 2024 and 2032.
  • Among the diverse regions within this market, Asia Pacific text-based NLP market took the lead, reaching a market value of US$ 2.31 Billion in 2023.
  • The fastest growing market among regions is Asia Pacific, experiencing a CAGR of 26.8% between 2024 and 2032.
  • While all the leading countries are still important, US ruled as the leading market in the global text-based NLP industry in 2023.
  • Among the diverse end users, IT and telecom was the largest end-user vertical in terms of spending in the market in 2023.
  • Text-based NLP market growth is mainly driven by ongoing advancements in AI and machine learning and growing demand for big data.

Text-based NLP Market Scope

Analysis Period

2019-2032

 

 

Actual Data

2019-2023

 

 

Base Year

2023

 

 

Estimated Year

2024

 

 

CAGR Period

2024-2032

 

 
 

Research Scope

 

 

Technology

Machine Learning-based NLP

 

 

Deep Learning-based NLP

 

 

Rule-based NLP

 

 

Deployment Model

On-premise

 

 

Cloud-based

 

 

Hybrid

 

 

Industry

IT and Telecom

 

 

Media and Entertainment

 

 

Energy and Power

 

 

Transportation and Logistics

 

 

Healthcare

 

 

BFSI

 

 

Retail

 

 

Manufacturing

 

 

Public Sector

 

 

Other

 

 

Organization Size

Large Enterprises

 

 

Mid Enterprises

 

 

Small Enterprises

 

 

Application

Customer Service

 

 

Content Creation and Management

 

 

Sentiment Analysis and Social Media Monitoring

 

 

Translation and Localization

 

 

Information Retrieval and Search

 

 

Text Analytics and Data Mining

 

 

Companies Covered

Google, Microsoft, IBM, Amazon Web Services, Facebook (Meta), OpenAI, Baidu, SAP, Oracle, Nuance Communications

 

 
   
   
   
   

Text-Based NLP Industry: Regional Coverage

 

Regional Scope

North America

US

Canada

Mexico

Western Europe

UK

Germany

France

Italy

Spain

Benelux

Nordics

Rest of Western Europe

Eastern Europe

Russia

Poland

Rest of Eastern Europe

Asia Pacific

Japan

Australia

China

South Korea

India

Malaysia

Hong Kong

Indonesia

New Zealand

Rest of Asia Pacific

Thailand

Vietnam

Philippines

Taiwan

Singapore

Latin America

Brazil

Peru

Colombia

Chile

Rest of Latin America

MEA

Israel

South Africa

Saudi Arabia

UAE

Qatar

Kuwait

Oman

Turkey

Nigeria

Kenya

Zimbabwe

Rest of MEA

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