Press release
Global Natural Language Generation (NLG) Market 2024 - By Size, Drivers, Trends, Competitors And Overview By 2033
The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.
The Business Research Company presents an extensive market research report on the Natural Language Generation (NLG) Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The natural language generation (NLG) market size has grown exponentially in recent years. It will grow from $0.72 billion in 2023 to $0.88 billion in 2024 at a compound annual growth rate (CAGR) of 22.0%. The growth in the historic period can be attributed to Increased data availability, rise of big data analytics, improvements in natural language processing (NLP), demand for data-driven insights, and integration with business intelligence (BI) tools.
The natural language generation (NLG) market size is expected to see exponential growth in the next few years. It will grow to $1.91 billion in 2028 at a compound annual growth rate (CAGR) of 21.4%. The growth in the forecast period can be attributed to rapid advances in deep learning, integration with voice assistants, increasing demand for content automation, growing importance of explain ability, and expanding use cases in healthcare. Major trends in the forecast period include AI-powered creativity, ethical ai and bias mitigation, technological advancements, product developments, and real-time language translation.
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Key Market Players:
Major companies operating in the natural language generation (nlg) market report are Amazon.com Inc., Alphabet Inc., Microsoft Corporation, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Oracle Corporation, SAP SE, NVIDIA Corporation, Infosys Limited, Baidu Inc., SAS Institute Inc., Conversica Inc., Automated Insights Inc., OpenAI Inc., Narrative Science Inc., Persado Inc., Arria NLG plc, Hugging Face Inc., Retresco GmbH, AX Semantics GmbH, vPhrase Analytics Solutions Pvt. Ltd., Yseop SA, Phrasetech, Narrativa, Gabriele Sarti
Market Drivers:
Increasing volume and variety of data are expected to propel the growth of the natural language generation (NLG) market going forward. Volume and variety of data refers to the immense quantity and diverse types of information generated, collected, and processed by systems, applications, and devices, reflecting the ever-growing scale and heterogeneity of data in each context. Natural Language Generation (NLG) is used to effectively communicate insights from the increasing volume and variety of data by transforming complex datasets into coherent and understandable narratives, enabling businesses to derive meaningful information and make informed decisions in a more accessible and human-readable format. For instance, in February 2023, G2.com, a US-based software marketplace company, revealed that 87.8% of companies increased their data investments, which is 41% up from 2022. Therefore, the increasing volume and variety of data are driving the next language generation market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/natural-language-generation-nlg-global-market-report
The natural language generation (nlg) market covered in this report is segmented -
1) By Deployment: On-Premise, Cloud
2) By Organization Size: Small and Medium Enterprises (SMEs), Large Enterprises
3) By Application: Fraud Detection, Predictive Maintenance, Risk And Compliance Management, Performance Management
4) By Vertical: Banking, Financial Services And Insurance (BFSI), Retail And Ecommerce, Government And Defense, Healthcare And Life Sciences, Manufacturing, Telecom, IT, Media And Entertainment, Energy And Utilities
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Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
The Business Research Company presents an extensive market research report on the Natural Language Generation (NLG) Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The natural language generation (NLG) market size has grown exponentially in recent years. It will grow from $0.72 billion in 2023 to $0.88 billion in 2024 at a compound annual growth rate (CAGR) of 22.0%. The growth in the historic period can be attributed to Increased data availability, rise of big data analytics, improvements in natural language processing (NLP), demand for data-driven insights, and integration with business intelligence (BI) tools.
The natural language generation (NLG) market size is expected to see exponential growth in the next few years. It will grow to $1.91 billion in 2028 at a compound annual growth rate (CAGR) of 21.4%. The growth in the forecast period can be attributed to rapid advances in deep learning, integration with voice assistants, increasing demand for content automation, growing importance of explain ability, and expanding use cases in healthcare. Major trends in the forecast period include AI-powered creativity, ethical ai and bias mitigation, technological advancements, product developments, and real-time language translation.
Request for free sample report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=13884&type=smp
Key Market Players:
Major companies operating in the natural language generation (nlg) market report are Amazon.com Inc., Alphabet Inc., Microsoft Corporation, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Oracle Corporation, SAP SE, NVIDIA Corporation, Infosys Limited, Baidu Inc., SAS Institute Inc., Conversica Inc., Automated Insights Inc., OpenAI Inc., Narrative Science Inc., Persado Inc., Arria NLG plc, Hugging Face Inc., Retresco GmbH, AX Semantics GmbH, vPhrase Analytics Solutions Pvt. Ltd., Yseop SA, Phrasetech, Narrativa, Gabriele Sarti
Market Drivers:
Increasing volume and variety of data are expected to propel the growth of the natural language generation (NLG) market going forward. Volume and variety of data refers to the immense quantity and diverse types of information generated, collected, and processed by systems, applications, and devices, reflecting the ever-growing scale and heterogeneity of data in each context. Natural Language Generation (NLG) is used to effectively communicate insights from the increasing volume and variety of data by transforming complex datasets into coherent and understandable narratives, enabling businesses to derive meaningful information and make informed decisions in a more accessible and human-readable format. For instance, in February 2023, G2.com, a US-based software marketplace company, revealed that 87.8% of companies increased their data investments, which is 41% up from 2022. Therefore, the increasing volume and variety of data are driving the next language generation market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/natural-language-generation-nlg-global-market-report
The natural language generation (nlg) market covered in this report is segmented -
1) By Deployment: On-Premise, Cloud
2) By Organization Size: Small and Medium Enterprises (SMEs), Large Enterprises
3) By Application: Fraud Detection, Predictive Maintenance, Risk And Compliance Management, Performance Management
4) By Vertical: Banking, Financial Services And Insurance (BFSI), Retail And Ecommerce, Government And Defense, Healthcare And Life Sciences, Manufacturing, Telecom, IT, Media And Entertainment, Energy And Utilities
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
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