The Natural Language Generation Market is Predict to reach USD 2.7 Billion by 2031, at a CAGR of 21.2%

Natural Language Generation Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Natural Language Generation Market size is expected to reach $2.7 billion by 2031, rising at a market growth of 21.2% CAGR during the forecast period.

The Large Enterprise segment is exhibiting a CAGR of 20.7% during the forecast period. Large organizations' significant resources and extensive data processing needs drive this prominence. Large enterprises typically have more complex operational structures and larger datasets, making them ideal candidates for advanced NLG solutions that can automate and streamline their data interpretation and reporting processes.

The Risk & Compliance Management segment led the maximum revenue in the Global Natural Language Generation Market by Application in 2023, thereby, achieving a market value of $524.8 million by 2031. This prominence is driven by increasing regulatory requirements and the need for organizations to manage risk more effectively. Natural language generation tools are instrumental in interpreting complex regulatory documents, automating the creation of compliance reports, and ensuring that organizations adhere to stringent regulations.

The Software segment is registering a CAGR of 20.7 % during the forecast period. This dominance can be attributed to several factors. Firstly, NLG software solutions are being increasingly adopted by businesses seeking to automate their data interpretation and reporting processes. These software solutions provide significant value by transforming structured data into human-like language, enabling better decision-making and communication.

The Cloud segment captured the maximum revenue in the Global Natural Language Generation Market by Deployment in 2023, thereby, achieving a market value of $1.7 billion by 2031. The dominance of the cloud deployment model is driven by its numerous advantages, including scalability, flexibility, and cost-effectiveness. Cloud-based NLG solutions allow businesses to quickly scale their operations up or down based on demand without significant initial investment in hardware or infrastructure.

The Banking, Financial Services & Insurance segment is growing at a CAGR of 19.8 % during the forecast period. The need for efficient data processing, regulatory compliance, and enhanced customer communication drives the adoption of NLG technology in the BFSI sector. NLG solutions enable financial institutions to automate the generation of detailed reports, streamline compliance processes, and provide personalized communication to clients.

Full Report: https://www.kbvresearch.com/natural-language-generation-market/

The North America region dominated the Global Natural Language Generation Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $983.8 million by 2031. The Europe region is anticipated to grow at a CAGR of 20.8% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 21.8% during (2024 - 2031).

List of Key Companies Profiled

• IBM Corporation
• Microsoft Corporation
• Google LLC (Alphabet Inc.)
• Amazon Web Services, Inc. (Amazon.com, Inc.)
• SAS Institute Inc.
• Salesforce, Inc.
• Arria NLG Limited
• vPhrase
• Retresco GmbH
• Yseop

Natural Language Generation Market Report Segmentation

By Enterprise Size

• Large Enterprise
• Small & Medium Enterprise (SME)

By Application

• Risk & Compliance Management
• Customer Experience Management
• Fraud Detection & Anti-Money Laundering (AML)
• Predictive Maintenance
• Performance Management
• Other Application

By Solutions

• Software
• Service

By Deployment

• Cloud
• On-premises

By Vertical

• Banking, Financial Services & Insurance
• Manufacturing
• Retail & Ecommerce
• Government & Defense
• Telecom & IT
• Healthcare & Lifesciences
• Energy & Utilities
• Media & Entertainment
• Other Vertical

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America Natural Language Generation Market Size 2031

• October-2024
• 149 Pages

LAMEA Natural Language Generation Market Size | 2031

• October-2024
• 167 Pages

Europe Natural Language Generation Market Size | 2031

• October-2024
• 164 Pages

Asia Pacific Natural Language Generation Market Size | 2031

• October-2024
• 168 Pages