Text Analytics Based Cloud NLP Market Analysis

Component (Solutions, Services)

The solution segment is anticipated to hold 60% share of the global text analytics based cloud NLP market by the end of 2036. Businesses across various industries seek ways to automate manual tasks and increase operational efficiency. Text-based NLP solutions offer efficient text analysis, extraction of key insights, and automation of tasks such as chatbots, document routing, and sentiment analysis. This slows the dependence on human resources and minimizes operational costs making it a suitable option for organizations.  Furthermore, increased integration of industry-specific solutions tailored to the unique needs of different verticals is driving the segment growth in the upcoming period during the anticipated period.  

Type (Rule Based, Statistical, Hybrid)

In terms of type, the hybrid segment in the text analytics based cloud NLP market is set to hold the highest CAGR of 40% during the forecast period. The hybrid deployments provide a balance between the scalability and cost-effectiveness of the public cloud and the security & control of the private cloud. Companies can leverage the public cloud for non-sensitive workloads and keep sensitive data on their private cloud for enhanced security. This flexibility allows companies to scale their NLP deployments seamlessly as their needs change. Furthermore, the segment is well suited for emerging technologies such as AI and machine learning that are heavily utilized in NLP applications. This enables organizations to leverage the latest innovations and capabilities in the field of NLP without compromising data security or compliance. Besides, increasing adoption of cloud-based solutions across various industries is also driving the growth of this segment in the projected period. There's 60% of global company data stored in the cloud. The revenues from cloud infrastructure services amount to US$ 177,8 billion a year. Multi-cloud infrastructure has been used by 90% of the largest companies.

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