Skip to main content
  1. Market Insights
  2. Technology
  3. Artificial Intelligence

Natural Language Processing - Australia & Oceania

Australia & Oceania
  • The market size in the Natural Language Processing market is projected to reach US$741.40m in 2024.
  • The market size is expected to show an annual growth rate (CAGR 2024-2030) of 27.54%, resulting in a market volume of US$3.19bn by 2030.
  • In global comparison, the largest market size will be United States (US$9.71bn in 2024).

Definition:
Natural language processing (NLP) is a branch of artificial intelligence that focuses on the interaction between human language and computers. Natural language processing tools analyze, understand, and generate written, oral, and visual formats of human language. The Natural Language Processing (NLP) market has relevance for the healthcare, finance, and e-commerce industries in the areas of sentiment analysis, chatbots, and language translation.

Structure:

The Natural Language Processing (NLP) market has three markets. The Text-Based NLP market covers applications that analyze written forms of language. The Speech-Based NLP market covers applications that interpret and understand spoken language. The Language Translation NLP market covers applications that convey the content and meaning of a text from one language into another language.

Additional Information:

The market comprises two key performance indicators: market sizes, and market sizes by industry. Market sizes are generated by the funding amount of Computer Vision companies. Key players of the market include companies such as Amazon Web Services (AWS), Microsoft Azure Cognitive Services, and Google.

For more information on the data displayed, use the info button right next to the boxes.

In-Scope

  • Natural language processing tools such as chatbots, virtual assistants, and sentiment analysis that enable machines to understand, interpret, and generate human languages.

Out-Of-Scope

  • Non-artificial intelligence applications such as spell checking and grammar correction, which do not involve semantic analysis or machine learning.
Artificial Intelligence

Artificial Intelligence

Related markets:
Artificial Intelligence: in-depth market analysis - Cover

Market Insights report

Artificial Intelligence: in-depth market analysis

Study Details
    methodology

    Download PDF

    FAQs and more info on the methodology

    Market Size

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Artificial Intelligence market in Australia & Oceania is witnessing significant growth, driven by factors such as increasing adoption of digital technologies, growing awareness of health benefits, and the convenience of online health services. The Text-based NLP, Speech-based NLP, and Language Translation NLP sub-markets contribute to the overall average growth rate, impacted by factors such as technological advancements and healthcare sector investments.

    Customer preferences:     In Australia & Oceania, the Natural Language Processing Market within the Artificial Intelligence Market is witnessing a growing demand for conversational AI solutions. This is fueled by the region's diverse population and the need for multilingual support in customer service. Additionally, the emergence of voice-based virtual assistants and chatbots is transforming the way businesses interact with their customers, leading to a shift towards more personalized and efficient communication. This trend is driven by the increasing adoption of digital channels and the growing preference for self-service options among consumers.

    Trends in the market:     In Australia & Oceania, the Natural Language Processing (NLP) market within the Artificial Intelligence (AI) market is experiencing a surge in demand for chatbots and virtual assistants across various industries. This trend is driven by the need for efficient and personalized customer service, as well as the increasing adoption of AI-driven solutions in business operations. With advancements in NLP technology, there is also a growing focus on sentiment analysis and emotion recognition, enabling businesses to better understand and cater to their customers' needs. These trends are expected to have a significant impact on industry stakeholders, such as NLP solution providers and businesses incorporating AI into their operations, as they strive to stay competitive and meet evolving consumer expectations.

    Local special circumstances:     In Australia and Oceania, the Natural Language Processing Market within the Artificial Intelligence Market is primarily driven by the region's advanced technological infrastructure and high internet penetration rates. Additionally, the diverse cultural landscape and increasing demand for personalized solutions have led to the rise of local startups and initiatives in the NLP market. Moreover, the strict data privacy regulations in countries like Australia and New Zealand have played a significant role in shaping the market, with a focus on ethical and transparent use of AI and NLP technologies.

    Underlying macroeconomic factors:     The Natural Language Processing Market within the Artificial Intelligence Market in Australia & Oceania is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. Countries with strong regulatory environments and significant investments in digital technologies are experiencing rapid growth in the market, while those with regulatory challenges and limited funding are facing slower growth. Additionally, the increasing prevalence of chronic diseases and aging populations in the region are driving the demand for NLP solutions to improve healthcare access and outcomes.

    Global Comparison

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Methodology

    Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

    Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

    Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

    Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.

    Technology

    Access more Market Insights on Technology topics with our featured report

    Artificial Intelligence: in-depth market analysis - BackgroundArtificial Intelligence: in-depth market analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Explore more high-quality data on related topic

    Artificial intelligence (AI) worldwide - statistics & facts

    Artificial intelligence evokes images of supercomputer assistants, machines that can think creatively, and, to some, scenes from their favorite sci-fi movie. The reality, despite not being as futuristic, is not far off from this. AI refers to the ability of a computer or machine to mimic the competencies of the human mind, which often learns from previous experiences to understand and respond to language, decisions, and problems. The market for AI technologies is vast, amounting to around 200 billion U.S. dollars in 2023 and is expected to grow well beyond that to over 1.8 trillion U.S. dollars by 2030.
    More data on the topic
    Size of the AI market in 2024
    184bn U.S. dollars
    Generative AI market size 2023
    44bn U.S. dollars
    Largest ML market globally
    United States

    Explore more high-quality data on related topic

    Artificial intelligence (AI) in the U.S. - statistics & facts

    Artificial intelligence (AI), the technology that allows digital computers or computer-controlled robots to perform tasks more commonly associated with intelligent beings, has been leaping into the limelight following the release of a wide variety of Generative AI models in 2023. The United States, being the largest economy in the world, has a natural advantage. Although human-like androids such as those portrayed in the science fiction movie Blade Runner are still far from reality, applications of AI such as smartphone virtual assistants and industrial robots are already widespread in U.S. society. The industry’s powerful ability to improve efficiency and increase productivity has made it of strategic importance to U.S. industries and government, both of which push the U.S. lead in the AI race.
    More data on the topic
    AI market size U.S. 2023
    87bn USD
    Growth of the AI market in the United States 2023
    64%
    Generative AI market size U.S. 2023
    16bn USD

    Contact

    Get in touch with us. We are happy to help.