Speech-based NLP - Japan | Statista Market Forecast

The market size in the Speech-based NLP market is projected to reach US$943.80m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 28.61%, resulting in a market volume of US$4.27bn by 2030.
In global comparison, the largest market size will be United States (US$5.67bn in 2024).

Definition:
The Speech-Based Natural Language Processing (NLP) market encompasses applications that interpret and understand spoken language and includes systems that can transcribe, translate, and analyze spoken words and phrases with the goal of improving human-machine communication. The Speech-Based NLP market has relevance for the healthcare, finance, and customer service industries.

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, Google Cloud Speech-to-Text, and Microsoft Azure Speech Services.

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Virtual assistants, such as Apple’s Siri or Amazon’s Alexa
Voice-enabled customer tools (e.g., for banks)
Medical transcription tools (e.g., for hospital patient records).

Live and/or simultaneous interpretation of speeches in real time
Voice acting and voice dubbing
Music transcription applications that convert audio recordings into written notation.

The Speech-based NLP Market in Japan is seeing steady growth due to the rising demand for natural language processing in the AI industry. This can be attributed to the increasing adoption of digital technologies and the convenience of speech-based services. The market's average growth rate is impacted by factors such as growing health awareness and the need for efficient online health solutions.

Customer preferences: As voice assistants and virtual assistants become increasingly integrated into daily life in Japan, there is a growing demand for speech-based natural language processing (NLP) technology. This is driven by consumers' desire for convenience and efficiency in communication and task completion. Additionally, there is a strong emphasis on respect and politeness in Japanese culture, leading to a preference for speech-based interactions over text-based ones. This trend is expected to continue as the population in Japan ages and more elderly individuals seek user-friendly technology for daily tasks.

Trends in the market: In Japan, the Speech-based NLP market within the Natural Language Processing Market is experiencing a surge in demand for voice recognition technology, with companies like Sony and Panasonic investing heavily in this sector. This trend is being driven by the increasing use of virtual assistants and smart home devices, as well as the growing adoption of speech-to-text technology in industries such as healthcare and finance. Furthermore, the rise of voice-enabled devices in the automotive sector is also contributing to the growth of the Speech-based NLP market in Japan. This trend is significant as it reflects the increasing integration of speech technology into daily life, and has implications for industry stakeholders as they seek to capitalize on this growing market.

Local special circumstances: In Japan, the Speech-based NLP Market of the Natural Language Processing Market within the Artificial Intelligence Market is heavily influenced by the country's aging population and high demand for healthcare solutions. This has led to the development of speech recognition technologies specifically tailored to the needs of elderly individuals. Additionally, strict data privacy laws and cultural norms around personal information have shaped the market's approach to data collection and processing. The market is also driven by the country's strong focus on innovation and technological advancements, leading to a high adoption rate of AI-powered communication tools in various industries.

Underlying macroeconomic factors: The Speech-based NLP Market of the Natural Language Processing Market within the Artificial Intelligence Market in Japan is greatly influenced by macroeconomic factors such as the country's economic growth, government policies, and technological advancements. Japan has a strong economy and is a leader in technological innovation, providing a favorable environment for the growth of the Speech-based NLP Market. Additionally, the Japanese government has been actively investing in AI and NLP technologies, further fueling market growth. The increasing adoption of digital solutions in various industries, along with the high demand for efficient and accurate language processing, also contributes to the growth of the market in Japan.

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.

Speech-based NLP - Japan

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