NATURAL LANGUAGE GENERATION MARKET ANALYSIS

Natural Language Generation Market, By Application (Fraud Detection and Anti-Money Laundering, Predictive Maintenance, Risk & Compliance Management, Performance Management, Customer Experience Management and Others), By Deployment (On-premise and Cloud), By Organization Size (SME’s and Large Enterprises), By Vertical (BFSI, Retail and Ecommerce, Government and Defense, Healthcare and Life Sciences, Manufacturing, Telecom and IT, Media and Entertainment, Energy and Utilities and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published In : Dec 2020
Code : CMI4285
Pages :130
Formats :
Excel and PDF
Industry : Information and Communication Technology

Natural Language Generation MarketSize and Trends

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

Rising research and development activities in NLG solutions

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.

Growing adoption of NLG in marketing

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.