Healthcare to Lead US Natural Language Processing Market Through 2025
Increasing use of smart
devices and growing investments in the healthcare industry to propel the growth
of United States natural language processing market
According to
TechSci Research report, “United
States Natural Language Processing Market By Component, By Deployment, By Organization
Size, By Type, By Application, By End User, By Region, Competition, Forecast & Opportunities, 2025” the United States natural language processing market is projected
to grow at an impressive CAGR during the forecast years. As per the current business
scenario, huge amount of data is generated from various sources like documents,
emails, forums, networking sites, web blogs, social audio, etc. Therefore, to
analyze this enormous data load, natural language processing technique is being
widely implemented, which is providing lucrative growth opportunities to the
players in the market. Increasing use of smart devices coupled with rising
number of choices in application areas are the major factors anticipated to drive
the market growth over the next five years. Additionally, to provide better
customer experience, customer care centers are increasingly adopting natural
language processing technologies, which is positively influencing the market
growth in the country. However, high software migrating cost might hamper the
market growth through 2025.
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The United
States natural language processing market is segmented based on component, deployment, organization
size, type, application, end user, region and company. In terms of
end user, the market can be segmented into BFSI, retail and e-commerce,
government and defense, healthcare and life science, manufacturing and others.
Out of which, the healthcare sector application is forecast to hold a major share
in the market during the next five years as this technology automates the
burdensome process of transcription of spoken or written notes from clinical
staff members, extracts main information, thus providing an opportunity for the
clinicians to refine problem list by making it more accurate and precise.
Google, IBM,
Microsoft, Intel, Apple, AWS, Facebook, Inbenta Technologies, Veritone,
Narrative Science and others are some of the leading players operating in United
States natural language processing market.
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“In terms of type,
the US natural language processing market is categorized into rule-based,
statistical and hybrid. Amongst them, the statistical NLP is the popular
technique as it uses probabilistic and statistical methods in order to solve
difficulties in the construction of long sentences. Moreover, the rule NLP make
use of structured rules for detecting and correcting the human voice, which is
anticipated to drive the segment growth through 2025.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“United States Natural Language Processing
Market By Component, By Deployment, By Organization Size, By Type, By Application,
By End User, By Region, Competition, Forecast
& Opportunities, 2025” has evaluated
the future growth potential of United States natural language processing market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in United States natural language processing market.
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