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Natural Language Processing - Brazil

Brazil
  • The market size in the Natural Language Processing market is projected to reach US$732.00m 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$3.15bn 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.

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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

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    Value

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    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 Brazilian Artificial Intelligence market, specifically the sub-markets of Text-based NLP, Speech-based NLP and Language translation NLP, is experiencing a steady growth rate due to factors such as increasing adoption of digital technologies, rising health awareness among consumers, and the convenience of online health services. This trend is expected to continue as the demand for AI solutions in healthcare and other industries continues to rise in Brazil.

    Customer preferences:     As more businesses and organizations in Brazil adopt advanced technologies and automation, there is a growing demand for natural language processing solutions to streamline communication and improve efficiency. This trend is driven by the need for businesses to cater to diverse audiences and language preferences, as well as the desire for faster and more accurate data analysis. Additionally, with the rise of social media and online content, there is a growing need for natural language processing tools to provide sentiment analysis and customer insights for businesses to stay competitive in the market.

    Trends in the market:     In Brazil, the Natural Language Processing market within the Artificial Intelligence market is experiencing a surge in demand for chatbot technology. This trend is driven by the need for businesses to provide efficient and personalized customer service. Additionally, there is a growing interest in voice assistants for virtual assistants and smart home devices. These trends are expected to continue on an upward trajectory, with significant implications for businesses in terms of cost savings and improved customer satisfaction. Industry stakeholders should closely monitor these developments and invest in advanced NLP technology to stay competitive in the market.

    Local special circumstances:     In Brazil, the Natural Language Processing market is growing due to the country's large population and increasing internet and smartphone penetration. The Brazilian government has also been investing in AI and NLP initiatives, particularly in the healthcare and education sectors. Additionally, Brazil's diverse linguistic landscape presents a unique challenge and opportunity for NLP technologies to accurately process and analyze Portuguese text. This has led to the development of specialized NLP solutions tailored to the Brazilian market, further driving its growth and adoption.

    Underlying macroeconomic factors:     The Natural Language Processing Market in Brazil is significantly impacted by macroeconomic factors such as advancements in technology, government policies, and investments in infrastructure. Brazil has made significant strides in promoting the use of Artificial Intelligence in various industries, including healthcare and finance. With a growing economy and favorable regulatory environment, Brazil is experiencing a rapid growth in the adoption of NLP solutions. Additionally, the country's large and diverse population presents a significant market opportunity for NLP technologies to improve communication and accessibility in different sectors.

    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.

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    Key Market Indicators

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

    Most recent update: Sep 2024

    Source: Statista Market Insights

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