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Global Natural Language Generation Market – Industry Trends and Forecast to 2029

  • ICT
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global  Natural Language Generation Market, By Component (Software and Services), Application (Fraud Detection and Anti-Money Laundering, Predictive Maintenance, Risk and Compliance Management, Customer Experience Management and Others), Business Function (Finance, Legal, Marketing and Sales, Operations and Human Resources), Deployment Model (Cloud and On-Premises), Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), Industry Vertical (Banking, Financial Services, and Insurance, Retail and Ecommerce, Government and Defence, Healthcare and Life Sciences, Manufacturing, Telecom and IT, Media and Entertainment, Energy and Utilities and Others)– Industry Trends and Forecast to 2029

 

Natural Language Generation Market

Market Analysis and Size

Natural language generation (NLG) could be a sub a part of computer science (AI) that produces a specific variety of a language that is peculiar to a selected region or group as output supported info input. By victimization this linguistic communication generation, we will build many inventions to boost the profit via coverage activities. this can be used for mechanizing time-intensive information analysis and to create the estimation of knowledge driven product by drawing in purchasers with self-generated linguistic communication interfaces.

Data Bridge Market Research analyses that the natural language generation market value, which was USD 596.47 billion in 2021, is expected to reach the value of USD 3,084.41 billion by 2029, at a CAGR of 22.80% during the forecast period 2022-20299. The natural language generation market report also covers pricing analysis, patent analysis, and technological advancements in depth.   

Market Definition

It is a sub-section of artificial intelligence which produces dialect as output based on information input is known as natural language generation. The innovation is utilized in order to enhance profitability through mechanizing time-intensive data analysis and building the estimation of information driven products by drawing in clients with instinctive natural language interfaces.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Component (Software and Services), Application (Fraud Detection and Anti-Money Laundering, Predictive Maintenance, Risk and Compliance Management, Customer Experience Management and Others), Business Function (Finance, Legal, Marketing and Sales, Operations and Human Resources), Deployment Model (Cloud and On-Premises), Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), Industry Vertical (Banking, Financial Services, and Insurance, Retail and Ecommerce, Government and Defence, Healthcare and Life Sciences, Manufacturing, Telecom and IT, Media and Entertainment, Energy and Utilities and Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

Amazon Web Services, Inc. (US) ,Narrative Science,(US) ,Narrativa.(California) ,IBM (US) ,Yseop.(France), AX Semantics (Germany),2txt - natural language generation GmbH (Germany), Linguastat Inc.(US) ,Textual Relations AB.( Gothenburg) ,newsrx. (US)

Market Opportunities

  • Growing Demand for Intelligent Business Processes
  • Developing Options in Application Areas

Global Natural Language Generation Market Dynamics

This section deals with understanding the market drivers,  opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers:

  • Growing need to understand customers’ behavior is expected to drive growth of the global natural language generation market during the forecast period

Understanding customer ’ buying   behavior has come pivotal for business possessors. Since products are made to feed to consumers ’needs and wants, the product should be designed and retailed consequently. The study of client   behavior helps associations to dissect different factors that impact buying opinions of consumers. Natural language generation can produce unlimited content variations for every existent for an individualized experience with better client engagement. It also helps companies to execute targeted marketing and give personalized content for increased deals. This also means lower quantum of time is spent on routine tasks, which can be else used for perfecting digital gests. Natural language generation can make different variations of product descriptions precisely in multiple languages veritably efficiently. Therefore, these factors are anticipated to drive growth of the global natural language generation request during the cast period.

  • Growth in investment for research and development to carve way for innovations

The rising number of strategic market collaborations has led to the rise in funds to be allocated for the growth and development of advanced and automated technology to manage high volume of structured and unstructured data. Further, growth in the level of investment for research and development proficiencies would carve the way for innovations in information technology. Rising integration of artificial intelligence and machine learning technologies coupled with rise in remote working, as well as growing digital transformation will further prove to be a boon for the market.      

  • Rising penetration of big data and related technologies is expected to propel the global natural language generation market growth over the forecast period

Big data refers to an effective way to dissect and totally prize precious perceptivity from a vast quantum of unshaped data. Big data is far more effective than conventional data processing operation software. Natural language generation is a slice- edge technology that can boost data visualization results. By using natural language generation interpretation of data visualization software similar as SAP, Tableau, and Qlik has come significantly easy.  In fact, it also reduces mortal cognitive sweats, enabling end druggies to make opinions grounded on precious perceptivity. Thus, these factors are anticipated to propel the global natural language generation request growth over the cast period.

Opportunities:

  • Emerging options in application areas can present lucrative growth opportunities in the global natural language generation market

Natural language generation is being used in various operations similar as automated tract content creation, e-commerce content creation, chat bots, bus-generated software patent operation, fiscal assessment robotization, and more. In this, chat bots are one of the most recent operations of NLG where they're needed to discourse or interact with people in a way that a human would. The stylish chat bots would the bones that can give druggies the print that they're interacting with factual humans.

  • Rising demand for intelligent business processes can provide major business opportunities in the global natural language generation market

NLG is chancing operations in intelligent business processes. NLG tools can dissect, interpret, and identify the most significant data and induce reports in simple English. Likewise, NLG offers artificial intelligence (AI) to business intelligence by automating the routine analysis, which saves both time and plutocrat for the business.

Restrictions/ challenges:

  • Lack of skilled personnel to deploy NLG solutions is expected to hinder the global natural language generation market growth over the forecast period

Understanding and planting natural language generation requires professed help. Similar moxie is scarcely available, especially in arising regions similar as Latin America, Asia Pacific, and MEA. As a result of this, the relinquishment of NLG is significantly hindered. Therefore, these factors are anticipated to hamper the global natural language generation request growth over the cast period

  • Low awareness regarding NLG solutions is expected to restrain growth of the global natural language generation market during the forecast period

Despite its multitudinous advantages, the relinquishment of NLG is significantly low. This is owing to low mindfulness regarding NLG results and their advantages among numerous business possessors. Therefore, these factors are anticipated to restrain growth of the global natural language generation request during the cast period.

This  Natural Language Generation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the  Natural Language Generation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on  Natural Language Generation Market

The recent outbreak of coronavirus has proven to be a boon for the market. The COVID-19 pandemic has made a severe impact on the growth of the global natural language processing market. The increasing need for enhancing customer experiences amidst the COVID-19 crisis has fueled the demand for such products and services, especially in the healthcare sector, during the pandemic period. The pandemic, though, has led to the suspension of business activities on account of the coronavirus pandemic but there seems to be a high growth in demand for natural language generation systems on account of increased focus towards digitizing the economies.

Global  Natural Language Generation Market Scope

The natural language generation market is segmented on the basis of component , application business function ,deployment model ,organization size ,industry vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component  

  • Solution
  • Services

Application

  • Fraud Detection and Anti-Money Laundering
  • Predictive Maintenance
  • Risk and Compliance Management
  • Customer Experience Management
  • Others

Business Function

  • Finance
  • Legal
  • Marketing and Sales
  • Operations
  • Human Resources

Deployment Model

  • Cloud
  • On-Premises

Organization size

  • Large Enterprises
  • Small and Medium-Sized Enterprises

Industry Vertical

  • Banking
  • Financial Services
  • Insurance
  • Retail and Ecommerce
  • Government and Defence
  • Healthcare and Life Sciences
  • Manufacturing
  • Telecom and IT
  • Media and Entertainment
  • Energy
  • Utilities
  • Others 

Natural Language Generation Market Regional Analysis/Insights

The  natural language generation market is analysed and market size insights and trends are provided by country, component, application business function ,deployment model ,organization size ,industry vertical as referenced above.

The countries covered in the  Natural Language Generation market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

The North America region dominated the NLG market in 2018, attributed to the numerous adoption of advanced technologies within the region and increasing investment by varied investment corporations in NLG corporations to learn from the immense potentials of the market. as an example, In Gregorian calendar month 2019, NextStage AM, a management company, proclaimed AN investment in Yseop, a supplier of NLG solutions. This investment would support the latter to develop its international market and accelerate the rollout of NLG solutions suited to numerous verticals within the U.S.

Asia-Pacific will dominate the natural language generation market because it focuses more on improving their consumer service for driving competitive differentiation and revenue growth in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and  Natural Language Generation Market Share Analysis

The  natural language generation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to  natural language generation market.

Some of the major players operating in the  natural language generation market are:

  • Amazon Web Services, Inc. (US)
  • Narrative Science,(US)
  • Narrativa.(California)
  • IBM (US)
  • Yseop.(France)
  • Conversica, Inc.(US)
  • AX Semantics (Germany)
  • 2txt - natural language generation GmbH (Germany)
  • Linguastat Inc.(US)
  • Textual Relations AB.( Gothenburg)
  • newsrx.s(US)

Research Methodology: Global  Natural Language Generation Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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Frequently Asked Questions

The Natural Language Generation Market value is.expected USD 3,084.41 billion by 2029.
The Natural Language Generation Market is to grow at a CAGR of 22.80% during the forecast by 2029.
On the basis of application, the Natural Language Generation Market is segmented into Fraud Detection and Anti-Money Laundering, Predictive Maintenance, Risk and Compliance Management, Customer Experience Management and Others.
The major countries covered in the Natural Language Generation Market are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.