Dublin, June 05, 2018 (GLOBE NEWSWIRE) -- The "Natural Language Generation (NLG) Market by Application (CEM, Fraud Detection & Anti-money laundering), Component (Software & Services), Business Function, Deployment Model, Organization Size, Industry Vertical & Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global natural language generation market size is expected to grow from USD 322.1 million in 2018 to USD 825.3 million by 2023, at a Compound Annual Growth Rate (CAGR) of 20.8% during the forecast period.
A strong necessity to understand customers' behavior has led to a rise in delivering better customer experience across different industry verticals. This factor is driving organizations to build personalized relationships based on customers' activities or interactions. Moreover, the proliferation of big data created an interest among organizations to derive insights from collected data for taking better, real-time, and fact-based decisions. Thus, NLG solutions have gained significance in extracting insights into human-like languages that are easy to understand. However, the lack of skilled workforce to deploy NLG solutions is a major factor restraining the growth of the market.
The customer experience management segment is expected to grow at the highest CAGR during the forecast period. The adoption of NLG software and services is rapidly increasing in various applications, as these software and services automate processes, thereby facilitating organizations to focus more on their business strategies to gain competitive advantages. The proliferation of big data and related technologies assist in fact-based business decision-making at a faster rate.
The natural language generation market growth in the Asia Pacific (APAC) region is gaining momentum and is expected to grow at the highest CAGR in the coming years. The rising awareness can be attributed to an increase in companies' focus on improving their customer service for driving competitive differentiation and revenue growth in this region. . In addition to this, major APAC economies, such as China, India, Japan, South Korea, and Australia, are adopting the cloud technology
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Natural Language Generation Market
4.2 Market By Industry Vertical and Region
4.3 Investment Opportunities in the Market
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Strong Need to Understand Customers' Behavior
5.2.1.2 Proliferation of Big Data and the Related Technologies
5.2.2 Restraints
5.2.2.1 Lack of Skilled Consultants to Deploy NLG Solutions and Services
5.2.3 Opportunities
5.2.3.1 Emerging Options in Application Areas
5.2.3.2 Increasing Demand for Intelligent Business Processes
5.2.4 Challenges
5.2.4.1 Lack of Awareness of NLG Solutions
5.2.4.2 Data Security and Quality Issues
5.3 Industry Trends
5.3.1 Use Cases
5.3.1.1 Introduction
5.3.1.2 Use Case: NLG Solutions Increased the Efficiency of Creating and Iterating Detection Models
5.3.1.3 Use Case: Increase in Efficiency of Report Generation With NLG Solutions
5.3.1.4 Use Case: Ease of Business Processes With NLG Solutions
5.3.1.5 Use Case: Development of A Conversational Tool With NLG Platform
5.4 Best Practices to Be Followed in Natural Language Generation
5.5 Regulatory Implications
5.5.1 Sarbanes-Oxley Act of 2002
5.5.2 General Data Protection Regulation
5.5.3 Basel
6 Natural Language Generation Market, By Component
6.1 Introduction
6.2 Software
6.3 Services
6.3.1 Managed Services
6.3.2 Professional Services
6.3.2.1 Training and Support
6.3.2.2 Consulting Services
7 Natural Language Generation Market, By Application
7.1 Introduction
7.2 Fraud Detection and Anti-Money Laundering
7.3 Predictive Maintenance
7.4 Risk and Compliance Management
7.5 Customer Experience Management
7.6 Others
8 Market By Business Function
8.1 Introduction
8.2 Finance
8.3 Legal
8.4 Marketing and Sales
8.5 Operations
8.6 Human Resources
9 Natural Language Generation Market, By Deployment Model
9.1 Introduction
9.2 On-Premises
9.3 Cloud
10 Market By Organization Size
10.1 Introduction
10.2 Small and Medium-Sized Enterprises
10.3 Large Enterprises
11 Natural Language Generation Market, By Industry Vertical
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.3 Retail and Ecommerce
11.4 Government and Defence
11.5 Healthcare and Life Sciences
11.6 Manufacturing
11.7 Telecom and IT
11.8 Media and Entertainment
11.9 Energy and Utilities
11.1 Others
12 Natural Language Generation Market, By Region
13 Competitive Landscape
13.1 Overview
13.2 Prominent Players Operating in the Natural Language Generation Market
13.3 Competitive Situations and Trends
13.3.1 Partnerships, Agreements, and Collaborations
13.3.2 New Product Launches
13.3.3 Acquisitions
14 Company Profiles
14.1 Arria NLG
14.2 AWS
14.3 IBM
14.4 Narrative Science
14.5 Automated Insights
14.6 Narrativa
14.7 Yseop
14.8 Retresco
14.9 Artificial Solutions
14.10 Phrasee
14.11 AX Semantics
14.12 CoGenTex
14.13 Phrasetech
14.14 NewsRx
14.15 Conversica
14.16 2txt - Natural Language Generation GmbH.
14.17 NarrativeWave
14.18 vPhrase
14.19 Linguastat
14.20 Textual Relations
For more information about this report visit https://www.researchandmarkets.com/research/fgll5f/825_million?w=12