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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