Natural Language Processing

NEW YORK, Dec. 27, 2018 /PRNewswire/ — Enterprise Applications for Natural Language Processing Technologies (Processing, Understanding, Generation) Software and Systems: Market Analysis and Forecasts

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Artificial intelligence (AI) technologies such as machine learning (ML) and deep learning (DL) are dazzling in and of themselves, but believe it or not, leveraged in isolation, they are limited in their potential. These technologies do not interpret data by themselves: they are tied either to deterministic, hard coded software programs created by humans or they are linked to a form of artificial intelligence that can interpret human language into a form ML and DL algorithms can understand. The umbrella term for this gateway AI technology is natural language processing (NLP). Other terms associated with NLP include natural language understanding, natural language generation, voice recognition, and speech recognition. Tractica considers all of these terms and technologies as part of the family of NLP technologies, and each of them are addressed in some fashion in this report.

The ultimate promise of NLP technology is intent-based computing. When machines can understand and communicate with humans in natural (human) language, it democratizes data science, enabling humans to use common everyday language to complete a broad range of tasks from the simple and mundane such as auto-completing an online form to the most complex, such as writing software or optimizing a data network. NLP is a critical technology for extracting insights and analysis from a vast amount of previously unindexed and unstructured data; mining video and audio files, emails, scanned documents, and more.

This Tractica report examines 43 NLP use cases, identifying those applications best suited for commercial use. In addition, the report details the market trends and technology issues surrounding natural language processing and presents forecasts for NLP hardware, software, and services during the period from 2017 through 2025. The report also mentions more than 60 companies including detailed profiles of 43 key industry players. Market forecasts, segmented by world region, include projections of software, hardware, and services revenue across multiple industry sectors.

Key Questions Addressed:

  • What are the key use cases for NLP?
  • What are the market trends driving adoption of NLP technology?
  • What are limitations to the software and what does the technology roadmap look like?
  • Which companies are investing most heavily in the technology?
  • Which industry sectors represent the strongest addressable markets for NLP?

Who Needs This Report?

  • Enterprise software companies
  • Semiconductor and component manufacturers
  • Service providers and systems integrators
  • End-user organizations deploying NLP systems
  • Industry associations
  • Government agencies
  • Investor community

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