Top 10 Companies in Natural Language Processing Market

The Natural Language Processing Market is Projected to Reach $262.4 Billion by 2030, at a CAGR of 34.4% During the Forecast Period 2023–2030. The growth of the natural language processing market is driven by the increased use of smart devices, the growing demand for NLP-based applications for customer support, and the rising demand for NLP tools in call centers. Moreover, the rapid adoption of cloud-based technologies and increasing applications of NLP in the healthcare sector provide significant opportunities in the global natural language processing market. However, the limitations in the development of NLP technology restrain the market’s growth to some extent. Data privacy & security concerns also pose challenges to the natural language processing market growth. Furthermore, virtual assistants & chatbots and speech analytics solutions are the key trends observed in the natural language processing market.

Here are the top 10 companies operating in the Natural Language Processing Market

Google LLC (U.S.)

Incorporated in 1998 and headquartered in California, U.S., Google LLC is a leading provider of natural language processing solutions and services. The company provides NLP solutions such as Google Cloud Natural Language API, Optical Character Recognition, Interactive Voice Response Systems, Auto Coding Systems, Speech Analytics Solutions, Image & Pattern Recognition Solutions, Simulation & Modeling Solutions, Virtual Assistant/Chatbots, Social Media Monitoring (Google Analytics), Sentiment Analysis Tools, and Text Classification & Summarization Solutions. Further, the company provides solutions for customer sentiment analysis, receipt and invoice understanding, document analytics, content classification, trend spotting, clinical documentation, data mining research, and automated registry reporting. The company operates through three business segments, namely, Google Services, Google Cloud, and Other Bets.

Microsoft Corporation (U.S.)

Founded in 1975 and headquartered in Redmond, Washington, U.S., Microsoft Corporation is a leading provider of natural language processing solutions & services. The company provides natural language processing solutions such as sentiment analysis, topic detection, language detection, key phrase extraction, and document categorization solutions. The company provides Azure Cognitive Service for Language, a cloud-based service that provides natural language processing features for understanding and analyzing text. It helps to build intelligent applications using the web-based Language Studio, REST APIs, and client libraries. In Microsoft Azure, Spark services like Azure Databricks, Azure Synapse Analytics, and Azure HDInsight provide NLP functionality when consumers use them with Spark NLP. Azure Cognitive Services also offers NLP functionalities. Microsoft operates in the market through three business segments, namely, Productivity and Business Processes; Intelligent Cloud; and More Personal Computing.

Amazon Web Services, Inc. (A Subsidiary of Amazon.com, Inc.) (U.S.)

Founded in 1994 and headquartered in Washington, U.S., Amazon Web Services, Inc. is a global provider of natural language processing solutions & services. The company provides Amazon Comprehend, a natural-language processing (NLP) service that uses machine learning to uncover valuable insights and connections in text. Amazon Comprehend provides natural language processing, personal identifiable information (PII) detection and redaction, custom classification and entity detection, and topic modeling, enabling a broad range of applications that can analyze raw text and, with some APIs, document formats like PDF and Word. Further, it provides call center analytics solutions to detect customer sentiment, analyze customer interactions, and automatically categorize inbound support requests. The company provides AWS Lambda, a serverless NLP computing service that allows developers to run code without managing or provisioning servers. The company operates through three business segments, namely, North America, International, and AWS.

Oracle Corporation (U.S.)

Founded in 1977 and headquartered in California, U.S., Oracle is a leading provider of natural language processing & solutions. The company provides virtual assistants such as the Oracle Digital Assistant (ODA). Oracle Virtual Assistant provides a conversational interface that can be integrated into different interaction channels using Oracle Chat. To use Oracle Virtual Assistant with Oracle Service Cloud, consumers must have three applications: Oracle Service Cloud, Oracle RightNow Chat Cloud Service (Chat), and Oracle Virtual Assistant. The company provides NLP solutions such as text and speech analytics solutions. Other solutions powered by NLP include web search, email spam filtering, automatic translation of text or speech, document summarization, sentiment analysis, and grammar/spell-checking solutions. The company provides its NLP solutions & services for the healthcare, legal, finance, customer service, and insurance industries. The company operates through three business segments, namely, Cloud and license, Hardware, and Services.

International Business Machines Corporation (U.S.)

Founded in 1911 and headquartered in New York, U.S., IBM is a leading NLP tools provider. The company provides products such as IBM Watson Discovery, IBM Watson Natural Language Understanding, and IBM Watson Assistant. The company offers NLP solutions to help businesses streamline operations, increase employee productivity and simplify mission-critical business processes. Further, it provides an AI-powered intelligent search and text analytics platform that eliminates data silos and retrieves information hidden within enterprise data. The company provides NLP solutions such as content mining, passage retrieval, smart document analytics, sentiment analytics, and data summarization solutions. The company operates through five business segments, namely, Software, Consulting, Infrastructure, Financing, and Other.

Meticulous Research in its latest publication on Natural Language Processing Market has predicted the growth of 34.4% during the forecast year 2023-2030.

QUALCOMM Incorporated (U.S.)

Founded in 1992 and headquartered in San Deigo, California, U.S., QUALCOMMis a global provider of NLP solutions & services. The company provides different NLP solutions, such as speech and voice recognition, language translation, and semantic analysis solutions. The company provides object detection solutions for applications such as image classification, object detection and tracking, and semantic segmentation. The company operates through three business segments, namely, QUALCOMMCDMA Technologies, QUALCOMMTechnology Licensing, and QUALCOMMStrategic Initiatives.

SAP SE (Germany)

Founded in 1972 and headquartered in Walldorf, Germany, SAP SE is a global provider of NLP solutions & services. The company provides conversational analytics, automated machine learning, and intelligent predictive analytics solutions. The company also provides solutions such as SAP AI Business Services, SAP AI Core, SAP AI Launchpad, SAP Analytics Cloud, and SAP Build Process Automation. It offers SAP Analytics Cloud augmented analytics features, from natural language processing to AI-powered data discovery, analysis, visualization, and prediction. The company operates through two segments, namely, Cloud & Software and Services.

Verint Systems Inc. (U.S.)

Incorporated in 1994 and headquartered in New York, U.S., Verint is a provider of NLP solutions & services. The company provides conversational AI solutions, including chatbots, virtual assistants and voice assistants. Conversational AI technology can be used across web, text, voice, and telephone channels. The company sells software and hardware products for customer engagement management and business intelligence. Their products are designed to assist clients in data analysis, specifically large data sets.

Verint provides analytics solutions for communications, interception, digital video security and surveillance, and enterprise business intelligence. The company offers advanced artificial intelligence and analytics, open integration, and the science of customer engagement to meet ever-increasing, ever-shifting consumer interactions. The company offers pre-packaged, industry-specific natural language understanding (NLU) models to deliver highly accurate and personalized automated responses to help customers self-serve, lower inbound service volumes, and provide an immediate ROI. These NLU models seamlessly integrate into customers’ current chatbot solutions to deliver hyper-personalized, sophisticated, and attentive natural language techniques that produce meaningful, natural, and human-like conversations on day one. The company operates through four segments, namely, Cloud, Support, Perpetual and Professional Services.

SAS Institute Inc. (U.S.)

Founded in 1976 and headquartered in North Carolina, U.S., SAS is the leader in business analytics software and services and the largest independent vendor in the business intelligence market.  The company provides NLP solutions for content categorization, topic discovery and modeling, contextual extraction, sentiment analysis, speech-to-text and text-to-speech conversion, document summarization, and machine translation. The company also provides SAS Visual Text Analytics solutions to detect emerging trends and hidden opportunities, as well as NLP solutions through cloud-based deployments. Through innovative NLP solutions, SAS helps customers at more than 70,000 sites improve performance and deliver value for better decision-making. The company provides NLP solutions for different industries, including agriculture, banking, education, public sector, health care, insurance, life sciences, manufacturing, retail, small & midsize business, telecom, media & technology, and utility.

Genpact Limited (U.S.)

Founded in 1997 and headquartered in New York, U.S., Genpact is a global professional services firm delivering business outcomes that transform industries and shape the future. The company specializes in artificial intelligence (AI), machine learning (ML), and insights solutions to help customers transform their business at scale. Genpact built an intelligent solution on a cloud pipeline to categorize incoming emails using ML and natural language processing to route them to appropriate systems or workstreams. The company provides its AI & NLP solutions to several industries, such as banking and capital markets, consumer goods and retail, healthcare and life sciences, high tech, insurance, manufacturing, media, publishing and entertainment, private equity, and software and digital platforms.  The company operates through three business segments, namely, Banking, Capital Markets and Insurance (BCMI), Consumer Goods, Retail, Life Sciences and Healthcare (CGRLH), and High Tech, Manufacturing and Services (HMS).

Authoritative Research on the Natural Language Processing Market – Global Opportunity Analysis and Industry Forecast (2023-2030)

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