Cloud Natural Language Processing (NLP) Market Sales

Cloud Natural Language Processing (NLP) Market Showing 17% CAGR Growth to 2024: Company Profiles & Trends Analysis

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MarketStudyReport.com adds a new Cloud Natural Language Processing (NLP) Market Research Report for the period of 2017-2024 that shows the growth of the market is rising at a 17% CAGR to 2024.

Exponential growth of the digital data is one of the major factors that is driving the growth of the Cloud Natural Language Processing Market. Data/information has emerged as one of the most important assets of the organizations. Companies are collecting, analyzing, and reporting vast volume of data for extracting meaningful insights to get competitive edge. Growing adoption of the big data technologies such as Hadoop and IoT among organizations along with popularity of cloud deployment is one of the major factors that are fueling the growth of the digital data. Digital data is estimated to grow at a rate of 40% for next 10 years and by the year 2020 data generation is expected to reach 44 zettabytes per year. As the data increases, it leads to the requirement of an effective analytics solution to process the information, therefore, driving the cloud NLP market growth.

Request a sample copy of Cloud Natural Language Processing (NLP) Market Research Report @ https://www.marketstudyreport.com/request-a-sample/707350/?utm_source=wp-SK

Global cloud Natural Language Processing (NLP) market is set to exceed USD 6 billion by 2024, according to this new research report.

Healthcare applications are estimated to exhibit higher growth rate than other industry verticals. Healthcare organizations are widely adopting NLP solutions for analyzing clinical transcriptions, managing medical notes, and documentation purposes. Furthermore, these solutions also assist in reducing medication errors and adverse drug events by managing Health Information Management (HIM) systems. In addition, implementation of ICD-10 regulation and adoption of auto-coding technology in healthcare is further estimated to fuel the demand in the healthcare sector.

Media & advertisement and the retail sector is also one of the major end-users of the cloud NLP market solutions. They are leveraging NLP capabilities along with social media analytics modules and CRM solutions for lead generation and brand recognition. Furthermore, increasing interest of the market players towards these industry verticals is also backing the growth of the market. For instance, IBM, HP, SAS and EasyAsk are providing NLP tools such as sentiment analysis and text analysis to these industry sectors.

Enquire about this report @ https://www.marketstudyreport.com/enquiry-before-buying/707350/?utm_source=wp-SK

Asia Pacific is estimated to be the fastest growing region in the global cloud natural language processing market owing to the increasing adoption of the smart devices. Moreover, increasing investment in AI by Chinese players such as Baidu and Alibaba are also contributing significantly towards the revenue growth.

Some of the vendors offering NLP solutions are Google, Microsoft, IBM, HP, AWS, Baidu, Dolbey Systems, Facebook, Netbase Solutions, Fuji Xerox, Lexalytics, SAS, and Verint Systems. Vendors are trying to capture the market with customized product portfolio, that will help them in gaining more market share. Also, they are collaborating with cloud providers to offer products and services especially, to SMEs. The market is quite attractive as majority of the players are ready to invest in technologies such as AI, deep learning, and machine learning.

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Cloud Natural Language Processing (NLP) Market to Soar at a CAGR of 17% to 2024

Posted on Updated on

MarketStudyReport.com adds a new Cloud Natural Language Processing (NLP) Market research report that provides a detailed market overview as well as industry analysis for / of companies, manufacturers and distributors covering data on gross margin, cost structure, consumption value, sale price and more.

Exponential growth of the digital data is one of the major factors that is driving the growth of the Cloud Natural Language Processing Market. Data/information has emerged as one of the most important assets of the organizations. Companies are collecting, analyzing, and reporting vast volume of data for extracting meaningful insights to get competitive edge. Growing adoption of the big data technologies such as Hadoop and IoT among organizations along with popularity of cloud deployment is one of the major factors that are fueling the growth of the digital data. Digital data is estimated to grow at a rate of 40% for next 10 years and by the year 2020 data generation is expected to reach 44 zettabytes per year. As the data increases, it leads to the requirement of an effective analytics solution to process the information, therefore, driving the cloud NLP market growth.

Request a sample copy of Cloud Natural Language Processing (NLP) Market Research Report @ https://www.marketstudyreport.com/request-a-sample/707350/?utm_source=WP-SK

Global cloud Natural Language Processing (NLP) market is set to exceed USD 6 billion by 2024, according to this new research report.

Healthcare applications are estimated to exhibit higher growth rate than other industry verticals. Healthcare organizations are widely adopting NLP solutions for analyzing clinical transcriptions, managing medical notes, and documentation purposes. Furthermore, these solutions also assist in reducing medication errors and adverse drug events by managing Health Information Management (HIM) systems. In addition, implementation of ICD-10 regulation and adoption of auto-coding technology in healthcare is further estimated to fuel the demand in the healthcare sector.Media & advertisement and the retail sector is also one of the major end-users of the cloud NLP market solutions. They are leveraging NLP capabilities along with social media analytics modules and CRM solutions for lead generation and brand recognition. Furthermore, increasing interest of the market players towards these industry verticals is also backing the growth of the market. For instance, IBM, HP, SAS and EasyAsk are providing NLP tools such as sentiment analysis and text analysis to these industry sectors.

Asia Pacific is estimated to be the fastest growing region in the global cloud natural language processing market owing to the increasing adoption of the smart devices. Moreover, increasing investment in AI by Chinese players such as Baidu and Alibaba are also contributing significantly towards the revenue growth.

Enquire about this report @ https://www.marketstudyreport.com/enquiry-before-buying/707350/?utm_source=WP-SK

Some of the vendors offering NLP solutions are Google, Microsoft, IBM, HP, AWS, Baidu, Dolbey Systems, Facebook, Netbase Solutions, Fuji Xerox, Lexalytics, SAS, and Verint Systems. Vendors are trying to capture the market with customized product portfolio, that will help them in gaining more market share. Also, they are collaborating with cloud providers to offer products and services especially, to SMEs. The market is quite attractive as majority of the players are ready to invest in technologies such as AI, deep learning, and machine learning.

Cloud NLP market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:

Cloud NLP Market, By Product – Rule Based, Statistical, Hybrid, Others.

Cloud NLP Market, By Deployment Model – Public Cloud, Private Cloud, Hybrid Cloud.

Cloud NLP Market, By Technology – Recognition, Analytics, Operational.

Cloud NLP Market, By Application – Information Extraction, Machine Translation, Processing & Visualization, Question Answering, Others.

Cloud NLP Market, By End-use – Automotive, BFSI, Consumer Electronics, Government & Legal, Healthcare and Lifescience, IT & Telecommunication, Media and Advertisement, Research and Education, Retail, Others.

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About Us:
Centralize market research purchases across your entire organization in one place. Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.

Contact Us:

Market Study Report

The Green Suite #4594,

Dover, DE 19901

United States

Phone: 1-201-355-0868

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Email: sales@marketstudyreport.com

Website: https://www.marketstudyreport.com

News: https://www.marketstudyreport.com/category/news-releases/

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