Natural Language Processing - Eastern Asia

The market size in the Natural Language Processing market is projected to reach US$9.50bn 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$40.90bn 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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Natural language processing tools such as chatbots, virtual assistants, and sentiment analysis that enable machines to understand, interpret, and generate human languages.

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

The Natural Language Processing market in Eastern Asia is witnessing significant growth, driven by factors such as rising adoption of AI technologies, increasing health awareness, and the convenience of online services. The market's average growth rate is impacted by advancements in Text-based NLP, Speech-based NLP, and Language translation NLP sub-markets.

Customer preferences: In Eastern Asia, there has been a notable increase in consumer preference for personalized and efficient communication, leading to a rise in demand for Natural Language Processing (NLP) solutions. This trend is driven by cultural nuances that value efficiency and convenience, as well as a growing tech-savvy population. Demographic shifts, such as an aging population, have also contributed to the demand for NLP-based virtual assistants that can provide personalized care and support. Additionally, the increasing use of social media and messaging apps in the region has further propelled the adoption of NLP technologies for text-based communication.

Trends in the market: In Eastern Asia, the Natural Language Processing market is experiencing a surge in demand for AI-powered chatbots and virtual assistants. This trend is driven by the increasing penetration of smartphones and the growing preference for self-service options in customer support. This trajectory is expected to continue as companies in the region seek to improve customer experience and reduce operational costs. Additionally, there is a rising focus on developing NLP solutions for non-English languages, such as Chinese, Japanese, and Korean, to cater to the diverse linguistic landscape of the region. This trend has significant implications for industry stakeholders, including increased competition and opportunities for international expansion. It also highlights the need for robust data privacy and security measures to ensure the ethical use of NLP technology.

Local special circumstances: In China, the Natural Language Processing Market is rapidly growing due to the country's high-tech ambitions and government support for AI development. The widespread use of smartphones and internet in daily life has also fueled the demand for voice recognition and virtual assistants. In Japan, cultural norms of precision and efficiency have led to the adoption of NLP in various industries, particularly in customer service. Additionally, strict data privacy regulations have influenced the development of privacy-focused NLP solutions.

Underlying macroeconomic factors: The Natural Language Processing Market within the Artificial Intelligence Market in Eastern Asia is strongly influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. Countries with advanced technological infrastructure and favorable regulatory environments, coupled with significant investments in AI and NLP, are experiencing rapid market growth. Additionally, the growing demand for efficient and accurate language processing solutions in various industries, such as healthcare, finance, and e-commerce, is driving the market in Eastern Asia. Moreover, the region's strong economic growth, increasing disposable income, and rising adoption of AI and NLP technologies in the business sector are further contributing to market expansion.

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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

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.

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.

Natural Language Processing - Eastern Asia

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