LAMEA Natural Language Processing Market By Component (Solution and Services) By Application (Text Classification, Machine Translation, Question Answering, Sentiment Analysis, Information Extraction, Automatic Summarization and Others) By type (Rule Based, Statistical and Hybrid) By Deployment Type (On-premise and Cloud) By Country, Industry Analysis and Forecast, 2019 - 2025

Report Id: KBV-3349 Publication Date: December-2019 Number of Pages: 156

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Analysis of Market Size & Trends

The Latin America, Middle East and Africa Natural Language Processing Market would witness market growth of 24% CAGR during the forecast period (2019-2025).

Deep learning architectures and algorithms in image recognition and speech processing have made remarkable progress in the past few years. The Natural Language Processing (NLP) application has been shown to make significant contributions, resulting in advanced results for some complex NLP application tasks. Using the internet and a constantly expanding means of communication, use and interaction has motivated consumers. Companies were forced to rethink their models of branding and business. In today's competitive marketplace, it takes more than the traditional product-centric or company-centric model to attract customers from rivals. These channels provide opportunities for businesses to implement AI-powered chatbots that are able to handle inquiries. In some situations, with proactive communication, they can even anticipate the next action of a customer and pre-empt inquiries.

Demand for NLP solutions has increased within the industry, with the increase in the adoption of Electronic Health Records (EHR) that is easily implemented by NLP solutions to address the drawbacks of not being able to convert free text conversations into insights. This also helps to improve patient interactions by narrowing the gap between complex medical conditions and patients' understanding of their health. The reliability of patient care is also increased by supporting value-based reimbursement by finding gaps in medical performance and possible failures in the delivery of care.

Based on Component, the market is segmented into Solution and Services. Based on Application, the market is segmented into Text Classification, Machine Translation, Question Answering, Sentiment Analysis, Information Extraction, Automatic Summarization and Others. Based on type, the market is segmented into Rule Based, Statistical and Hybrid. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Industry Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Media & Entertainment, Manufacturing and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.

Free Valuable Insights: Natural Language Processing Market in LAMEA is expected to register a CAGR of 24% during the forecast period (2019-2025)

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Google, Inc., Amazon.com, Inc., Apple, Inc., Facebook, Inc., Intel Corporation, SAS Institute, Inc., Baidu, Inc., Health Fidelity, Inc., Conversica, Inc., and Inbenta Technologies, Inc.