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| Title | Natural Language Generation (NLG) Market Growth Factors and Future Prospects 2028 |
|---|---|
| Category | Automotive --> Communities Forums |
| Meta Keywords | Natural Language Generation (NLG) Market, Natural Language Generation (NLG) Market size, Natural Language Generation (NLG) Market share, Natural Language Generation (NLG) Market trends |
| Owner | jhontanison |
| Description | |
| The
Global Natural
language generation (NLG) market is forecast to reach USD 1,420.0
Million by 2028, according to a new report by Reports and Data. NLG can be
considered as the process of producing meaningful sentences and phrases in the
form of natural language. Thus, it automatically generates narratives that
explain, summarize input structured data in a human-like manner at the speed of
thousands of pages/second. NLG makes data easily comprehensible, providing the
writing of data-driven product descriptions, financial reports, among others.
The main practical present-day applications of NLG are connected with writing
analysis or communicating necessary information to customers. Some of the
mentionable practical applications of NLG are reporting on business data,
analysis for business intelligence dashboards, personalize customer
communication, among others. In context to region, Europe holds a prominent
market share. The market share occupied by the region is resultant of the
growth of the BFSI sector and the expansion of the healthcare sector. Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2556
The component
segment within the industry has undergone a detailed breakdown, distinguishing
between services and software. In the landscape of this industry, it is evident
that the Software segment is the dominant force, commanding a substantial share
of 70.3% in the year 2020. What's even more noteworthy is the robust growth
trajectory it has charted, boasting an impressive growth rate of 14.2% during
the forecast period. The Software segment's meteoric rise can be attributed to
a multitude of factors that underscore its significance in the modern era. One of the key
drivers of the Software segment's rapid expansion is its versatility and
widespread utility. It has found a prominent place not only among data analysis
scientists but also among non-technical individuals who recognize its power in
processing data and information through deep learning techniques. This
democratization of access to advanced data analytics tools is particularly
significant as it empowers a broader range of professionals and decision-makers
to harness the potential of data-driven insights. Furthermore,
the pivotal role played by Natural Language Generation (NLG) software cannot be
overstated within this context. NLG software comprises a diverse array of
platforms, engines, interfaces, and tools that facilitate the transformation of
complex computerized code into human-understandable language. This capability
bridges the gap between technical jargon and accessible insights, making data
comprehensible and actionable for individuals who may lack a deep technical
background. As a result,
NLG software has seen widespread adoption across various industries and
sectors. Non-technical individuals can now engage with data analysis and derive
valuable insights without the need for extensive coding skills. Simultaneously,
data analysis scientists benefit from the efficiency and effectiveness of NLG
software in translating their findings into readily understandable formats for
broader dissemination and decision-making. In conclusion,
the Software segment's commanding presence in the industry, its remarkable
growth rate, and its pivotal role in enabling data-driven decision-making
highlight the transformative impact of technology in today's data-centric
world. The convergence of deep learning, data processing, and NLG software is
driving innovation and accessibility, ushering in an era where data analysis
and actionable insights are within reach for a broader spectrum of
professionals and industries. some
leading companies operating in the global Natural Language Generation (NLG)
market. Narrative
Science, IBM, AWS, Artificial Solutions, Retresco, Phrasee, CoGenTex, AX
Semantics, Conversica, Linguastat. Inquiry Before Buying @ https://www.reportsanddata.com/inquiry-before-buying/2556
The global
market is further segmented into
type and application: Component Type
Outlook (Revenue, USD Million; 2018-2028)
Business
Function Type Outlook (Revenue, USD Million; 2018-2028)
Organizational
size Type Outlook (Revenue, USD Million; 2018-2028)
Deployment
mode Type Outlook (Revenue, USD Million; 2018-2028)
End-User Type
Outlook (Revenue, USD Million; 2018-2028)
Application
Type Outlook (Revenue, USD Million; 2018-2028)
Regional
analysis provides insights into key trends and demands in each major country
that can affect market growth in the region. ·
North America (U.S., Canada, Mexico) ·
Europe (Germany, U.K., Italy, France,
BENELUX, Rest of Europe) ·
Asia Pacific (China, India, Japan,
South Korea, Rest of APAC) ·
Latin America (Brazil, Rest of LATAM) ·
Middle East & Africa (Saudi
Arabia, U.A.E., South Africa, Rest of MEA) Get Customization of report @ https://www.reportsanddata.com/request-customization-form/2556
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