Europe Natural Language Processing Market By Component (Solution and Services) By Application (Text Classification, Machine Translation, Question Answering, Sentiment Analysis, Information Extraction, Automatic Summarization and Others) By type (Rule Based, Statistical and Hybrid) By Deployment Type (On-premise and Cloud) By Country, Industry Analysis and Forecast, 2019 - 2025
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Market Report Description
The Europe Natural Language Processing Market would witness market growth of 19.7% CAGR during the forecast period (2019-2025).
The IIoT drives the industry's unprecedented disruption that has been hampered by a shortage of skilled workers. The software is also expected to help the industry's cost-effectiveness. The implementation, development, road map infrastructure, security management, and data capture and analysis require technical skills. Experienced developers who are well versed in various applications' types, languages, and mechanisms are important for NLP implementation. Such a trained professional is lacking across industries. A costly process involving technological and non-technical resources and complexities is the transition from the current legacy system to SaaS platforms. The lack of cloud computing migration awareness also contributes to multiple migration failures in achieving organizational goals. Such challenges of modernizing existing legacy systems and high cost of technology migration impede the growth of the studied market.
Natural Language Processing (NLP) market has grown immensely as artificial intelligence and machine learning technologies are increasingly being applied. NLP technology assists computers in understanding and processing human languages that are naturally spoken. Combined with machine learning, NLP technology reads, deciphers, recognizes, and makes sense of human speech and turns it into a computer-readable form. The NLP has a variety of applications including language translation applications like Google Translate, interactive voice response (IVR) applications that are used in call centers to respond to requests from certain users and much more.
Based on Component, the market is segmented into Solution and Services. Based on Application, the market is segmented into Text Classification, Machine Translation, Question Answering, Sentiment Analysis, Information Extraction, Automatic Summarization and Others. Based on type, the market is segmented into Rule Based, Statistical and Hybrid. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Industry Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Media & Entertainment, Manufacturing and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Natural Language Processing Market in Europe is expected to register a CAGR of 19.7% during the forecast period (2019-2025)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Google, Inc., Amazon.com, Inc., Apple, Inc., Facebook, Inc., Intel Corporation, SAS Institute, Inc., Baidu, Inc., Health Fidelity, Inc., Conversica, Inc., and Inbenta Technologies, Inc.
Scope of the Natural Language Processing Market Analysis
Market Segmentation:
By Component
- Solution
- Services
By Application
- Text Classification
- Machine Translation
- Question Answering
- Sentiment Analysis
- Information Extraction
- Automatic Summarization
- Others
By Type
- Rule Based
- Statistical
- Hybrid
By Deployment Type
- On-premise
- Cloud
By Industry Vertical
- BFSI
- IT & Telecom
- Healthcare
- Retail & eCommerce
- Government & Defense
- Media & Entertainment
- Manufacturing
- Others
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Companies Profiled
- IBM Corporation
- Microsoft Corporation
- Google, Inc.
- Amazon.com, Inc.
- Apple, Inc.
- Facebook, Inc.
- Intel Corporation
- SAS Institute, Inc.
- Baidu, Inc.
- Health Fidelity, Inc.
- Conversica, Inc.
- Inbenta Technologies, Inc.
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