Global Natural Language Generation Market, By Component (Software and Services), Application (Fraud Detection and Anti-Money Laundering, Predictive Maintenance, Risk and Compliance Management, Customer Experience Management and Others), Business Function (Finance, Legal, Marketing and Sales, Operations and Human Resources), Deployment Model (Cloud and On-Premises), Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), Industry Vertical (Banking, Financial Services, and Insurance, Retail and Ecommerce, Government and Defence, Healthcare and Life Sciences, Manufacturing, Telecom and IT, Media and Entertainment, Energy and Utilities and Others) – Industry Trends and Forecast to 2031.
Natural Language Generation Market Analysis and Size
In the realm of business intelligence (BI) and analytics, natural language generation (NLG) plays a crucial role by transforming complex data insights into easily understandable narratives and summaries. NLG algorithms analyze large datasets and generate textual reports, dashboards, and presentations that highlight key findings, trends, and recommendations. This capability enables business stakeholders, from executives to analysts, to quickly grasp insights and make informed decisions. NLG enhances BI tools by providing automated and personalized insights tailored to specific user queries, thereby improving data accessibility and enhancing the overall effectiveness of decision-making processes in organizations worldwide.
The global natural language generation market size was valued at USD 899.47 million in 2023 and is projected to reach USD 4,651.29 million by 2031, with a CAGR of 22.8% during the forecast period of 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024-2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Software and Services), Application (Fraud Detection and Anti-Money Laundering, Predictive Maintenance, Risk and Compliance Management, Customer Experience Management and Others), Business Function (Finance, Legal, Marketing and Sales, Operations and Human Resources), Deployment Model (Cloud and On-Premises), Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), Industry Vertical (Banking, Financial Services, and Insurance, Retail and Ecommerce, Government and Defence, Healthcare and Life Sciences, Manufacturing, Telecom and IT, Media and Entertainment, Energy and Utilities and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Amazon Web Services, Inc. (U.S.), IBM (U.S.), Yseop (France), AX Semantics (Germany), 2txt - natural language generation GmbH (Germany), Linguastat Inc. (U.S.), Textual Relations AB. ( Gothenburg), newsrx. (U.S.), Arria NLG (U.K.), Artificial Solutions (Sweden), Restresco (U.S.), Conversica (U.S.), NewsRx (U.S.), CoGenTax Inc. (U.S.) , Phrasetech (Sweden), vPhrase (India)
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Market Opportunities
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Market Definition
Virtual reality content creation involves the development and production of immersive digital experiences that users can engage with in a virtual environment. This process includes designing and crafting 3D models, environments, animations, and interactive elements tailored for VR platforms. Content creators utilize specialized tools and techniques to bring these virtual worlds to life, offering users immersive and interactive experiences across various applications such as gaming, education, training, simulation, and entertainment.
Natural Language Generation Market Dynamics
Drivers
- Growing Adoption of Automated Content Generation
Businesses are increasingly turning to NLG solutions to automate the creation of textual content such as reports, summaries, articles, and product descriptions. This trend is driven by the need for efficiency gains and cost savings in content production processes. NLG enables organizations to generate large volumes of content quickly while maintaining consistency and quality. Moreover, as digital content consumption rises, NLG helps meet the demand for personalized and relevant content tailored to specific audiences. This adoption is supported by advancements in AI and NLP technologies, which continue to improve the accuracy and naturalness of generated content, further driving the market's growth.
- Expansion of the Internet of Things (IoT)
IoT devices generate massive amounts of data from sensors, machines, and connected devices across various industries such as manufacturing, healthcare, transportation, and smart cities. NLG plays a crucial role in interpreting and communicating insights derived from this IoT-generated data in a human-readable format. By converting complex data streams into actionable insights and reports, NLG enables businesses to optimize operations, improve decision-making processes, and enhance efficiencies. This integration of NLG with IoT facilitates real-time monitoring, predictive maintenance, and personalized customer experiences, driving demand for NLG solutions in IoT-driven ecosystems worldwide.
Opportunities
- Emergence of Industry-Specific Applications
As different sectors recognize the potential of NLG to streamline operations and enhance decision-making, tailored solutions are being developed to address specific industry challenges. In healthcare, NLG is used to generate patient reports and medical summaries, improving efficiency and accuracy in healthcare delivery. In financial services, NLG aids in automating financial reporting and market analysis, enabling faster insights and informed decision-making. Similarly, in retail and e-commerce, NLG powers personalized product recommendations and customer service interactions, enhancing user experience and driving sales. These industry-specific applications highlight NLG's versatility and its ability to cater to diverse business needs, fueling its adoption and market growth globally.
- Rising Importance of Customer Experience
NLG enables businesses to deliver personalized and contextually relevant interactions through chatbots, virtual assistants, and automated customer service solutions. Organizations can respond to customer queries promptly, provide tailored recommendations, and enhance overall engagement by employing NLG. This capability improves customer satisfaction, increases retention rates and strengthens brand loyalty. As businesses prioritize delivering seamless and personalized experiences, NLG plays a crucial role in meeting these expectations by automating the generation of human-such as responses and ensuring consistent, high-quality interactions across digital channels.
Restraints/Challenges
- High Initial Costs
Implementing NLG solutions involves substantial upfront investments in software development, customization, and integration with existing systems. Organizations also incur costs for training staff and ensuring the technology meets specific business needs. These financial barriers can be particularly challenging for smaller enterprises or those operating on tighter budgets, limiting their ability to adopt NLG at scale. Moreover, ongoing maintenance and upgrades further contribute to the total cost of ownership, requiring careful budget allocation and ROI justification for widespread adoption across industries.
- Shortage of Skilled Professionals
Developing and deploying NLG solutions requires expertise in artificial intelligence, natural language processing, data analytics, and software development. However, there is a scarcity of professionals with specialized knowledge in these areas, slowing down the adoption and implementation of NLG technologies across industries. This shortage increases competition for qualified talent, drives up hiring costs, and may delay the development of innovative NLG applications.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Natural Language Generation Market Scope
The market is segmented on the basis of component, application business function, deployment model, organization size, and industry vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Solution
- Services
Application
- Fraud Detection and Anti-Money Laundering
- Predictive Maintenance
- Risk and Compliance Management
- Customer Experience Management
- Others
Business Function
- Finance
- Legal
- Marketing and Sales
- Operations
- Human Resources
Deployment Model
- Cloud
- On-Premises
Organization size
- Large Enterprises
- Small and Medium-Sized Enterprises
Industry Vertical
- Banking
- Financial Services
- Insurance
- Retail and Ecommerce
- Government and Defence
- Healthcare and Life Sciences
- Manufacturing
- Telecom and IT
- Media and Entertainment
- Energy
- Utilities
- Others
Natural Language Generation Market Region Analysis/Insights
The market is analysed and market size, volume information is provided by component, application business function, deployment model, organization size, and industry vertical as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, the Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa.
North America dominates the market due to widespread adoption of advanced technologies and significant investments from various corporations keen on harnessing its potential. For instance, in September 2019, management company NextStage AM announced an investment in Yseop, a prominent NLG solutions provider. This investment aimed to bolster Yseop's global expansion efforts and expedite the deployment of NLG solutions across diverse sectors in the U.S., highlighting the region's pivotal role in driving NLG innovation and growth.
Asia-Pacific is expected to grow in the market due to its emphasis on enhancing consumer service, which drives competitive differentiation and revenue growth. This region's commitment to leveraging advanced technologies for customer interaction and personalized experiences gives it a strategic edge. By prioritizing consumer needs and refining service delivery through innovative applications of natural language generation, Asia-Pacific businesses are not only meeting but exceeding market demands, thereby solidifying their leadership in this rapidly evolving sector.
The country section of the global sales force automation software market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Natural Language Generation Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the market are:
- Amazon Web Services, Inc. (U.S.)
- IBM (U.S.)
- Yseop (France)
- AX Semantics (Germany)
- 2txt - natural language generation GmbH (Germany)
- Linguastat Inc. (U.S.)
- Textual Relations AB. (Gothenburg)
- newsrx. (U.S.)
- Arria NLG (U.K.)
- Artificial Solutions (Sweden)
- Restresco (U.S.)
- Conversica (U.S.)
- NewsRx (U.S.)
- CoGenTax Inc. (U.S.)
- Phrasetech (Sweden)
- vPhrase (India)
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