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PUBLISHER: Grand View Research | PRODUCT CODE: 1554135
PUBLISHER: Grand View Research | PRODUCT CODE: 1554135
Natural Language Understanding Market Size, Share & Trends Analysis Report By Offering, By Type, By Application, By End-use, By Region, And Segment Forecasts, 2024 - 2030
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PAGES: 150 Pages
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Market Size & Trends:
The global natural language understanding market size was estimated at USD 18.34 billion in 2023 and is projected to grow at a CAGR of 20.2% from 2024 to 2030. The increasing demand for conversational AI is a significant driver of growth in the NLU market. Businesses are increasingly adopting chatbots and virtual assistants to streamline and enhance customer interactions, seeking efficient ways to provide 24/7 support and personalized experiences. These AI-driven tools enable companies to automate repetitive tasks, reducing the need for human intervention and improving overall operational efficiency.
As customer expectations for immediate and accurate responses rise, conversational AI becomes essential for maintaining high service standards. The integration of advanced NLU technologies allows these systems to understand and process natural language with greater accuracy, making interactions more intuitive and effective. Moreover, the scalability of chatbots and virtual assistants supports businesses of all sizes in managing growing customer demands. Consequently, the widespread adoption of these technologies is fueling the rapid expansion of the NLU market.
Advancements in AI and machine learning driving the growth of the NLU market. The development of sophisticated algorithms and models, such as GPT-4 and BERT, has significantly enhanced the accuracy and capabilities of NLU systems. These advanced models utilize vast amounts of data to understand better and generate human-like language, improving the overall performance of natural language processing tasks.
Enhanced models enable more nuanced comprehension and contextual understanding, leading to more precise and relevant responses in applications ranging from chatbots to content analysis. As these technologies continue to evolve, they empower businesses to deploy more effective and intelligent NLU solutions. The ongoing refinement of AI techniques ensures that NLU systems can handle increasingly complex language challenges. Consequently, these advancements are accelerating the adoption and innovation within the Natural Language Understanding (NLU) market.
The rise in data availability is a major driver of growth in the NLU market. With the exponential increase in data and textual information generated across various platforms, there is a growing need for effective NLU solutions to analyze and extract valuable insights from this unstructured data. As businesses and organizations accumulate vast amounts of data from sources such as social media, customer interactions, and documents, traditional methods of data processing become inadequate.
NLU technologies are crucial for transforming this raw data into actionable insights by understanding context, sentiment, and key themes. The ability to process and make sense of large volumes of text enables businesses to make data-driven decisions and gain competitive advantages. As data continues to increase, the demand for advanced NLU systems capable of handling complex and diverse information will only intensify.
Global Natural Language Understanding (NLU) Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global natural language understanding market report based on offering, type, application, end-use, and region:
- Offering Outlook (Revenue, USD Million, 2018 - 2030)
- Solutions
- Services
- Type Outlook (Revenue, USD Million, 2018 - 2030)
- Rule-Based
- Statistical
- Hybrid
- Application Outlook (Revenue, USD Million, 2018 - 2030)
- Chatbots & Virtual Assistants
- Sentiment Analysis
- Text Analysis
- Customer Experience Management (CXM)
- Data Capture
- Others
- End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Retail & E-commerce
- Healthcare & Life Sciences
- BFSI
- IT & Telecommunications
- Media & Entertainment
- Others
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Latin America
- Brazil
- Middle East and Africa (MEA)
- KSA
- UAE
- South Africa
Product Code: GVR-4-68040-416-3
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Research Methodology
- 1.2.1. Information Procurement
- 1.3. Information or Data Analysis
- 1.4. Methodology
- 1.5. Research Scope and Assumptions
- 1.6. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Natural Language Understanding (NLU) market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Industry Challenge
- 3.3. Natural Language Understanding (NLU) market Analysis Tools
- 3.3.1. Industry Analysis - Porter's Five Forces
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic and Social landscape
- 3.3.2.3. Technological landscape
- 3.3.1. Industry Analysis - Porter's Five Forces
Chapter 4. Natural Language Understanding (NLU) market: Offering Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Natural Language Understanding (NLU) market: Offering Movement Analysis, USD Million, 2023 & 2030
- 4.3. Solutions
- 4.3.1. Solutions Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Services
- 4.4.1. Services Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Natural Language Understanding (NLU) market: Type Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Natural Language Understanding (NLU) market: Type Movement Analysis, USD Million, 2023 & 2030
- 5.3. Rule-Based
- 5.3.1. Rule-Based Natural Language Understanding (NLU) market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Statistical
- 5.4.1. Statistical Natural Language Understanding (NLU) market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5. Hybrid
- 5.5.1. Hybrid Natural Language Understanding (NLU) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Natural Language Understanding (NLU) market: Application Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Natural Language Understanding (NLU) market: Application Movement Analysis, USD Million, 2023 & 2030
- 6.3. Chatbots & Virtual Assistants
- 6.3.1. Chatbots & Virtual Assistants Natural Language Understanding (NLU) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. Sentiment Analysis
- 6.4.1. Sentiment Analysis Natural Language Understanding (NLU) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5. Text Analysis
- 6.5.1. Text Analysis Natural Language Understanding (NLU) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6. Customer Experience Management (CXM)
- 6.6.1. Customer Experience Management (CXM) Natural Language Understanding (NLU) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.7. Data Capture
- 6.7.1. Data Capture Natural Language Understanding (NLU) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.8. Others
- 6.8.1. Others Natural Language Understanding (NLU) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Natural Language Understanding (NLU) market: End Use Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Natural Language Understanding (NLU) market: End Use Movement Analysis, USD Million, 2023 & 2030
- 7.3. Retail & E-commerce
- 7.3.1. Retail & E-commerce Natural Language Understanding (NLU) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4. Healthcare & Life Sciences
- 7.4.1. Healthcare & Life Sciences Natural Language Understanding (NLU) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5. BFSI
- 7.5.1. BFSI Natural Language Understanding (NLU) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6. IT & Telecommunications
- 7.6.1. IT & Telecommunications Natural Language Understanding (NLU) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.7. Media & Entertainment
- 7.7.1. Media & Entertainment Natural Language Understanding (NLU) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.8. Others
- 7.8.1. Others Natural Language Understanding (NLU) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Natural Language Understanding (NLU) market: Regional Estimates & Trend Analysis
- 8.1. Natural Language Understanding (NLU) Market Share, By Region, 2023 & 2030, USD Million
- 8.2. North America
- 8.2.1. North America Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.2.2. U.S.
- 8.2.2.1. U.S. Natural Language Understanding (NLU) market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.2.3. Canada
- 8.2.3.1. Canada Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.2.4. Mexico
- 8.2.4.1. Mexico Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.3. Europe
- 8.3.1. Europe Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.3.2. UK
- 8.3.2.1. UK Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.3.3. Germany
- 8.3.3.1. Germany Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.3.4. France
- 8.3.4.1. France Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.4. Asia Pacific
- 8.4.1. Asia Pacific Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.4.2. China
- 8.4.2.1. China Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.4.3. Japan
- 8.4.3.1. Japan Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.4.4. India
- 8.4.4.1. India Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.4.5. South Korea
- 8.4.5.1. South Korea Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.4.6. Australia
- 8.4.6.1. Australia Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.5. Latin America
- 8.5.1. Latin America Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.5.2. Brazil
- 8.5.2.1. Brazil Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.6. Middle East and Africa
- 8.6.1. Middle East and Africa Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.6.2. KSA
- 8.6.2.1. KSA Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.6.3. UAE
- 8.6.3.1. UAE Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
- 8.6.4. South Africa
- 8.6.4.1. South Africa Natural Language Understanding (NLU) Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
Chapter 9. Competitive Landscape
- 9.1. Company Categorization
- 9.2. Company Market Positioning
- 9.3. Participant's Overview
- 9.4. Financial Performance
- 9.5. Offering Benchmarking
- 9.6. Company Heat Map Analysis
- 9.7. Strategy Mapping
- 9.8. Company Profiles/Listing
- 9.8.1. Google LLC
- 9.8.2. Microsoft
- 9.8.3. International Business Machines Corporation
- 9.8.4. Amazon.com, Inc.
- 9.8.5. Salesforce, Inc.
- 9.8.6. NVIDIA Corporation
- 9.8.7. OpenAI
- 9.8.8. SAP SE
- 9.8.9. Nuance Communications
- 9.8.10. Hugging Face, Inc.
Product Code: GVR-4-68040-416-3
List of Tables
- Table 1 Global Natural Language Understanding (NLU) market by Offering, 2018 - 2030 (USD Million)
- Table 2 Global Natural Language Understanding (NLU) market by Type, 2018 - 2030 (USD Million)
- Table 3 Global Natural Language Understanding (NLU) market by Application, 2018 - 2030 (USD Million)
- Table 4 Global Natural Language Understanding (NLU) market by End Use, 2018 - 2030 (USD Million)
- Table 5 Global Natural Language Understanding (NLU) market by region, 2018 - 2030 (USD Million)
- Table 6 North America Natural Language Understanding (NLU) market by country, 2018 - 2030 (USD Million)
- Table 7 Europe Natural Language Understanding (NLU) market by country, 2018 - 2030 (USD Million)
- Table 8 Asia Pacific Natural Language Understanding (NLU) market by country, 2018 - 2030 (USD Million)
- Table 9 Latin America Natural Language Understanding (NLU) market by country, 2018 - 2030 (USD Million)
- Table 10 MEA Natural Language Understanding (NLU) market by country, 2018 - 2030 (USD Million)
- Table 11 Key companies launching new products/services.
- Table 12 Key companies engaged in mergers & acquisition.
- Table 13 Key companies engaged in Research & development.
- Table 14 Key Companies engaged in expansion.
List of Figures
- Fig. 1 Information procurement
- Fig. 2 Primary research pattern
- Fig. 3 Market research approaches
- Fig. 4 Value chain-based sizing & forecasting
- Fig. 5 Market formulation & validation
- Fig. 6 Natural Language Understanding (NLU) market snapshot
- Fig. 7 Natural Language Understanding (NLU) market segment snapshot
- Fig. 8 Natural Language Understanding (NLU) market competitive landscape snapshot
- Fig. 9 Market research process
- Fig. 10 Market driver relevance analysis (Current & future impact)
- Fig. 11 Market restraint relevance analysis (Current & future impact)
- Fig. 12 Natural Language Understanding (NLU) Market, Offering outlook key takeaways (USD Million)
- Fig. 13 Natural Language Understanding (NLU) Market: Offering movement analysis (USD Million), 2023 & 2030
- Fig. 14 Solutions Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 15 Services Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 16 Natural Language Understanding (NLU) Market: Type outlook key takeaways (USD Million)
- Fig. 17 Natural Language Understanding (NLU) Market: Type movement analysis (USD Million), 2023 & 2030
- Fig. 18 Rule-Based Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 19 Statistical Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 20 Hybrid Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 21 Natural Language Understanding (NLU) Market: Application outlook key takeaways (USD Million)
- Fig. 22 Natural Language Understanding (NLU) Market: Application movement analysis (USD Million), 2023 & 2030
- Fig. 23 Chatbots & Virtual Assistants Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 24 Sentiment Analysis Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 25 Text Analysis Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 26 Customer Experience Management (CXM) Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 27 Data Capture Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 28 Others Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 29 Retail & E-commerce Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 30 Healthcare & Life Sciences Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 31 BFSI Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 32 IT & Telecommunications Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 33 Media & Entertainment Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 34 Others Natural Language Understanding (NLU) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 35 Regional marketplace: Key takeaways
- Fig. 36 Natural Language Understanding (NLU) Market: Regional outlook, 2023 & 2030, USD Million
- Fig. 37 North America Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 38 U.S. Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 39 Canada Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 40 Mexico Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 41 Europe Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 42 UK Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 43 Germany Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 44 France Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 45 Asia Pacific Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 46 Japan Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 47 China Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 48 India Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 49 South Korea Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 50 Australia Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 51 Latin America Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 52 Brazil Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 53 MEA Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 54 KSA Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 55 UAE Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 56 South Africa Natural Language Understanding (NLU) market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 57 Strategy framework
- Fig. 58 Company Categorization
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