The global Natural Language Generation Market was accounted for US$ 411.5 Mn in terms of value in 2019 and is expected to grow at CAGR of 21.2% for the period 2020-2027.
The global Natural Language Generation market was valued at US$ 411.5 Mn in 2019 and is forecast to reach a value of US$ 1915.8 Mn by 2027 at a CAGR of 21.2% between 2020 and 2027.
Statistics:
North America held dominant position in the global Natural Language Generation market in 2019, accounting for 34.7% share in terms of value, followed by Europe and Asia Pacific respectively
Market Trends
Key companies in the market are focused on research and development activities, in order to expand the market presence. These activities can unblock the potential of NLG across various verticals such as weather forecasting, journalism, medicine, and more. For instance, in March 2020, IBM Corporation announced several new IBM Watson technologies designed to aid organizations in identifying, analyzing, and understanding major challenges related to English language.
Natural language generation is being increasingly used in marketing analytics, machine learning, and sales analytics. Sales and marketing analytics provide crucial insights into the market. NLG allows analytics tools to provide responses that are easy and immediately understandable.
Natural Language Generation Market Report Snapshots
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