Natural Language Processing Market Analysis

Organization (Large Enterprise, SMEs)

The NLP market is segmented and analyzed for demand and supply by enterprise size into large enterprises, and small & medium enterprises. Out of the two sizes of enterprises, the small & medium segment is estimated to gain the largest market share in the year 2037. The growth of the segment can be attributed to the increasing adoption of digitization by small and medium businesses. According to a survey, digitization is continuously growing, with up to 70% of small firms increasing their use of digital technologies as an outcome of the pandemic across the globe. On the other hand, the growth of the segment is also attributed to a rise in the number of small size of businesses. According to the World Economic Forum, small enterprises are the foundation of the world's economy, representing 90% of all businesses, around 60-70 percent of overall employment, and 50% of the global GDP. In addition to this, there are currently approximately 400 million SMEs worldwide. They are responsible for the majority of new employment creation and account for around 99% of all firms.

Deployment (On-Premise, Cloud)

The global natural language processing market is also segmented and analyzed for demand and supply by deployment into on-premise, and cloud. Amongst these two segments, the cloud segment is expected to garner a significant share in the year 2037. The growth of the segment is primarily attributed to the higher deployment of cloud services. The exceptional circumstances imposed by the epidemic prompted the usage of the cloud. By 2020, more than 80% of company workloads will have been migrated to the cloud. On the other hand, many organizations have made considerable expenditures in updating their cloud computing infrastructures. Moreover, around 94% of all organizations globally use cloud computing in their operations. On the other hand, higher use of cloud natural language processing services is likely to augment the segment growth. A cloud NLP service is used by more than three-quarters of natural language processing (NLP) users, worldwide. Furthermore, cloud-based NLP solution provides multiple pricing options based on usage and necessity.

Our in-depth analysis of the global market includes the following segments: