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Natural Language Processing (NLP) Market Worth USD 341.7 Billion, with a 27.6% CAGR by 2030 – Report by Market Research Future (MRFR)

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New York, US, Sept. 29, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Natural Language Processing Market research report: by Technology, by type, by Service, by deployment – Forecast till 2030”, the market is anticipated to acquire a valuation of approximately USD 341.7 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 27.6% during the assessment timeframe.

Natural Language Processing Market Overview:

The global natural language processing market is growing continually. Increased adoption rate of NLP technology across various industry verticals is key driving force. Besides, the growing demand for M2M translation techniques and increasing application areas of NLP drive the growth of the market. The increasing usage of machine learning, deep learning, and natural language processing will continue to escalate the market value in future years.

Players leading the NLP market include-

  • 3M Co. (US)
  • IBM Corporation (US)
  • Hewlett-Packard Co. (US)
  • Oracle Corporation (US)
  • Apple Inc. (US)
  • Microsoft Corporation (US)
  • SAS Institute Inc. (US)
  • Dolbey Systems Inc. (US)
  • Verint Systems Inc. (US)
  • Net base Solutions Inc. (US)

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Natural Language Processing (NLP) is a combination of artificial intelligence and data science used in tools serving various functions, ranging from text reading and content creation to behavioral healthcare. It allows computers to understand human language to convert it into data used in various software and devices, such as smartphones. There is a significant demand for NLP models with longer sequences to unlock innovations and possibilities across AI & deep learning.

AI uses adaptive learning and computer vision techniques and offers detailed insights to help enterprises with better management decisions. Increasing AI platforms to analyze enterprise data boost the demand for natural language processing. NLP is also employed in streamlining text reading and content generation. Growing demand for search solutions & brand building boosts NLP adoption. 

NLP Market Report Scope:

Report Metric Details
Revenue forecast in 2030 USD 341.7 Billion
Growth Rate CAGR of 27.6% from 2022 to 2030
Key Market Opportunities Government around the world worked together by decoding the articles published in different language
Key Market Drivers Developed translation apps to make language barrier scarce

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Industry Trends

Increasing demand for NLP technologies in brand building substantiates the growth of the market. The latest market trends, such as the growing demand for customer-driven solutions, adaptive NLP, and forecasting models to build AI solutions that unlock actionable insights hidden in unstructured and structured data, influence the market growth. Many organizations use adaptive NLP and forecasting features to build and deploy AI solutions.

Furthermore, increasing deployments of natural language processing models with artificial intelligence (AI) by researchers, business analysts, data science teams, and portfolio managers substantiate market growth. Also, increasing business needs to cut operational costs and generate better risks & investment insights to experience 24×7 productivity gains increase the demand for industry-leading NLP solutions. 

On the other hand, complexities associated with the development of NLP are the major factors projected to impede the growth of the market. Nevertheless, increasing AI implementation in the media & entertainment sectors would support market growth throughout the review period. Also, the growing competition across the industries and emphasis on business intelligence boost the development of the market.

Natural Language Processing Market Segments

The NLP market is segmented into types, technologies, services, deployments, verticals, and regions. The technology segment is sub-segmented into auto-coding, text analytics, optical character recognition (OCR), interactive voice response, speech analytics, pattern & image recognition, speech analytics, and others. The type segment is sub-segmented into rule-based NLP, statistical NLP, and hybrid NLP.

The service segment is sub-segmented into integration, consulting, and maintenance services. The deployment segment is sub-segmented into on-premise and on-demand. The vertical segment is sub-segmented into healthcare, retail, media & entertainment, manufacturing, and others. The region segment is sub-segmented into Asia-Pacific, Americas, Europe, and the Rest-of-the-World.

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Natural Language Processing Market Regional Analysis

North America dominates the global Natural Language Processing Market. The large presence of NLP solution providers and substantial R&D investments in developing NLP technology increase the market size. Besides, the increasing adoption of advanced NLP technology in various industry verticals drives regional market growth. The rising penetration of IIoT devices in this region substantiates market revenues. 

Europe stands second in the global natural language processing market. The high adoption of NLP technology in rising numbers of medium & large enterprises in this region escalates the market value. Moreover, the presence of various notable players and large deployments of NLP platforms across the rapidly growing industries push market shares. Substantial investments by key players in developing NLP platforms influence market growth.

The natural language processing market in the Asia Pacific region is growing rapidly. Increasing adoption of NLP technology and cloud deployments across the region boosts the market. Furthermore, the massive uptake of language processing technology in increasing numbers of large & SMEs to enhance customer satisfaction and operational performance contributes to the regional Natural Language Processing Market growth. 

Natural Language Processing Market Competitive Analysis

Highly competitive, the NLP market appears fragmented due to the presence of several well-established players. Mergers & acquisitions, innovation, and brand reinforcement remain prevailing key trends for the leading players as these strategies support their growth and expansion plans. 

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For instance, on Aug.31, 2022, Cerebras Systems, an enabler in accelerating AI computing, released an industry-first capability to enable users to train transformer-style natural language AI models rapidly. The new capability would lead to breakthroughs in NLP by providing vast context, phrase/strand of DNA, and enabling NLP models to understand & better predictive accuracy. 

In another instance, on Sept. 13, 2022, Kyndi, a leading natural language processing (NLP) company, announced that its Natural Language Search Solution as a Top Trend-Setting Product of 2022 for helping organizations derive greater benefit from text-based data by KMWorld, a premier knowledge management publication. The Kyndi Natural Language Search Solution maximizes the relevancy and speed of finding answers in unstructured, text-based data.

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Intelligent Process Automation Market Research Report: by Data Type, by Component, by Deployment, by Technology, by Organization Size, by Vertical, by region

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Conversational Computing Platform Market Research Report: By Type, Service, By Deployment Type, By Technology

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Artificial Intelligence

Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
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WIO Taps Gracenote to Revolutionize Television Broadcast Reporting

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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.

By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility

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BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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