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Global Language Processing Market 2017-2021

  • Published: Jun 2017
  • Pages: 82
  • SKU: IRTNTR12833
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This industry research report identifies Hewlett Packard Enterprise, IBM, Microsoft, SAS institute, Verint Systems as some of the key vendors in the global language processing market. The natural language processing market forecast report presents a comprehensive analysis of the industry by technology (speech analytics, OCR, text analytics, pattern recognition, and IVR systems), by deployment model (on-premises and cloud-based), by end-user (BFSI, IT and telecom, E-commerce, healthcare, and others), and by geography (APAC, Europe, MEA, North America, and South America).

Global language processing market overview

Market research analysts at Technavio predict that the global natural language processing market share and size will grow steadily at a CAGR of more than 13% by 2021. The increased focus towards improving customer experience is identified as one of the primary growth factors for this market. The utilization of language processing solutions assists in improving customer experience. These speech and language processing solutions are used to gain customer feedback on an organization's products and services. Customer experiences are generated in the form of responses to social media, SMS, surveys, feedbacks, and tweets. The responses are analyzed by using different language processing tools such as speech analytics, text analytics, and recognition methods. The effective usage of language processing helps enterprises in enhancing customer satisfaction and in increasing brand loyalty. This will induce organizations to invest in language processing tools to sustain and survive the market competition, according to the natural language processing market statistics report.

In terms of geographic regions, North America will be the major revenue contributor to the natural language processing market throughout the forecast period. The availability of adequate IT infrastructure and the wide geographic dispersion of employees due to the increasing globalization, drive the growth of the market in North America. Moreover, the growth of e-commerce and the shift toward omnichannel retail will also boost the growth of the language processing market in the North America.

Competitive landscape and key vendors  

The language processing market is intensely competitive due to the presence of numerous vendors. Major vendors are constantly competing for majority of the market shares and are identified based on high market visibility, increased market penetration, and strong market momentum. With the multinational players focusing on expanding their presence, the regional nlp technology providers are finding it difficult to compete with them. The competition is expected to become more intense during the forecast period due to the increase in product and service extensions and technological innovations.

The leading vendors in the market are -

  • Hewlett Packard Enterprise
  • IBM
  • Microsoft
  • SAS institute
  • Verint Systems

The other prominent vendors in the natural language processing market are 3M, Apple, AYLIEN, Basis Technology, Cerner Systems, Dolbey Systems, Envion Software, Google, Intel, Linguamatics, MModal IP, NetBase Solutions, Nuance Communication, Oracle, and Sensory.

Segmentation by technology and analysis of the language processing market

  • Speech analytics
  • OCR
  • Text analytics
  • pattern recognition
  • IVR systems

During 2016, the IVR systems segment accounted for the major shares of the language processing market, as per the natural language processing market report. Factors such as the increased adoption of IVR systems in most SMEs and large enterprises, the reduction of costs, and the improved caller experience, will contribute to the growth of this market segment in the coming years.

The analysis of the language processing market by type

  • On-premises
  • Cloud-based

According to the natural language processing market research report, the on-premises language processing segment accounted for the maximum share of the natural language processing market during 2016. The on-premises deployment offers complete control over the critical data for businesses. The segment is expected to continue its dominance during the predicted period as well and this will attribute to the easy availability of the required infrastructure including in-house IT support and backup servers.

Key questions answered in the report include

  • What will the natural language processing market size and the growth rate be in 2021?
  • What are the key factors driving the global language processing market?
  • What are the key natural language processing market trends impacting the growth?
  • What are the challenges to the natural language processing market growth?
  • Who are the key vendors in the global language processing market?
  • What are the market opportunities and threats faced by the vendors in the global language processing market?
  • Trending factors influencing the natural language processing market shares of APAC, Europe, MEA, North America, and South America.
  • What are the key outcomes of the five forces analysis of the global language processing market?

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PART 01: Executive summary

PART 02: Scope of  the report

PART 03: Research Methodology

PART 04: Introduction

  • Key market highlights

PART 05: Economic overview

  • Global economic overview and its impact on the market and vendors

PART 06: Market landscape

  • Market overview
  • Market size and forecast
  • Market assumptions

PART 07: Market segmentation by technology

  • Global language processing market by technology
  • Global IVR systems market
  • Global pattern recognition market
  • Global text analytics market
  • Global OCR market
  • Global speech analytics market

PART 08: Market segmentation by deployment model

  • Global language processing market by deployment model
  • Global on-premises language processing market
  • Global cloud-based language processing market

PART 09: Market segmentation by end-user

  • Global language processing market by end-user segmentation

PART 10: Geographical segmentation

  • Global language processing market by geography

PART 11: Decision framework

PART 12: Drivers and challenges

  • Market drivers
  • Impact of drivers on key customer segments
  • Market challenges
  • Impact of challenges on key customer segments

PART 13: Market trends

  • Increased use of IP-based IVRs
  • Evolution of social media sentiment analytics
  • Growing use of text analytics

PART 14: Five forces analysis

  • Five forces analysis

PART 15: Vendor landscape

  • Competitive scenario
  • Major-vendor offerings
  • Vendor matrix
  • Other prominent vendors

PART 16: Key vendor profiles

  • Hewlett Packard Enterprise (HPE)
  • IBM
  • Microsoft
  • SAS Institute
  • Verint Systems

PART 17: Mergers and acquisitions

  • M&A in the market

PART 18: Appendix

  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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