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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

Natural language generation (NLG) is a subfield of artificial intelligence, which automatically transforms data into plain English content. It can be used to produce long-form content for organizations to generate custom content for mobile applications as well as custom reports. NLG is different from natural language processing (NLP) since NLP focuses on deriving analytics insights from textual data, while NLG is used to generate textual data by combining analytic output with contextualized narratives. With NLG, data can be accessed, analyzed, and communicated with scale and accuracy.

The global Natural Language Generation Market was accounted for US$ 411.5 Mn in terms of value in 2019 and is expected to grow at CAGR of 21.2% for the period 2020-2027.

Market Dynamics- Drivers

  1. Growing need to understand customers’ behavior is expected to drive growth of the global natural language generation market during the forecast period

Understanding customers’ buying behavior has become crucial for business owners. Since products are made to cater to consumers’ needs and wants, the product should be designed and marketed accordingly. The study of customer behavior helps organizations to analyze different factors that influence buying decisions of consumers. NLG can create unlimited content variations for every individual for a personalized experience with better customer engagement. It also helps companies to execute targeted marketing and provide individualized content for increased sales. This also means less amount of time is spent on routine tasks, which can be otherwise used for improving digital experiences. NLG can make different variations of product descriptions precisely in multiple languages very efficiently. Thus, these factors are expected to drive growth of the global natural language generation market during the forecast period.

  1. Rising penetration of big data and related technologies is expected to propel the global natural language generation market growth over the forecast period

Big data refers to an efficient way to analyze and systematically extract valuable insights from a vast amount of unstructured data. Big data is far more efficient than conventional data processing application software. NLG is a cutting-edge technology that can boost data visualization solutions. By leveraging NLG, interpretation of data visualization software such as SAP, Tableau, and Qlik has become significantly easy. Furthermore, NLG can provide a coherent and inclusive analysis of a vast and complex dataset. In fact, it also reduces human cognitive efforts, enabling end users to make decisions based on valuable insights. Therefore, these factors are expected to propel the global natural language generation market growth over the forecast period.

Statistics:

North America held dominant position in the global Natural Language Generation market in 2019, accounting for 34.7% share in terms of value, followed by Europe and Asia Pacific respectively

Figure 1: Global Natural Language Generation Market Share (%) in terms of Value, By Region, 2019

Natural Language Generation  | Coherent Market Insights

Natural Language Generation Market - Impact of Coronavirus (Covid-19) Pandemic

Many companies are laying off people due to the reduced sales revenues owing to the COVID-19 pandemic. For instance, In U.S. according to the Coherent Market Analysis, the unemployment rate increased from 5.5% to 14.5% in the period December 2019 to April 2020. As companies are facing losses, it is expected that companies will reduce the expenditure on the technological advancements such as Natural Language Generation tools during the year 2020. COVID-19 is expected to restrain the market growth during the year 2020. 

Market Restraint

  1. Lack of skilled personnel to deploy NLG solutions is expected to hinder the global natural language generation market growth over the forecast period

Understanding and deploying natural language generation requires skilled personnel. Such expertise is scarcely available, especially in emerging regions such as Latin America, Asia Pacific, and MEA. As a result of this, the adoption of NLG is significantly hindered. Thus, these factors are expected to hinder the global natural language generation market growth over the forecast period. 

  1. Low awareness regarding NLG solutions is expected to restrain growth of the global natural language generation market during the forecast period

Despite its numerous advantages, the adoption of NLG is significantly low. This is owing to low awareness regarding NLG solutions and their advantages among many business owners. Thus, these factors are expected to restrain growth of the global natural language generation market during the forecast period. 

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Natural Language Generation Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 411.5 Mn
Historical Data for: 2017 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 21.2% 2027 Value Projection: USD 1915.8 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East and Africa: South Africa, North Africa, Central Africa
Segments covered:
  • By Application: Fraud Detection and Anti-Money Laundering, Predictive Maintenance, Risk & Compliance Management, Performance Management, Customer Experience Management and Others
  • By Deployment: On-premise and Cloud
  • By Organization Size: SME’s and Large Enterprises
  • By Vertical: BFSI, Retail and Ecommerce, Government and Defense, Healthcare and Life Sciences, Manufacturing, Telecom and IT, Media and Entertainment, Energy and Utilities and Others
Companies covered:

Retresco, Narrative Science, AX Semantics, IBM Corporation, Artificial Solutions, Yseop, Narrative Science, CoGenTex, Inc., ARRIA NLG plc, Automated Insights, Inc., and Phrasetech.

Growth Drivers:
  • Growing need to understand customers’ behavior
  • Rising penetration of big data and related technologies
Restraints & Challenges:
  • Lack of skilled personnel to deploy NLG solutions

Market Opportunity

  1. Emerging options in application areas can present lucrative growth opportunities in the global natural language generation market

Natural language generation is being used in various applications such as automated editorial content creation, e-commerce content creation, chatbots, auto-generated software patent application, financial assessment automation, and more. In this, chatbots are one of the most recent applications of NLG where they are required to converse or interact with people in a way that a human would. The best chatbots would the ones that can give users the impression that they are interacting with actual humans.

  1. Rising demand for intelligent business processes can provide major business opportunities in the global natural language generation market

NLG is finding applications in intelligent business processes. NLG tools can analyze, interpret, and identify the most significant data and generate reports in simple English. Furthermore, NLG offers artificial intelligence (AI) to business intelligence by automating the routine analysis, which saves both time and money for the business.

Figure 2: Global Natural Language Generation Market Value (US$ Mn), 2017 - 2027

Natural Language Generation  | Coherent Market Insights

The global Natural Language Generation market was valued at US$ 411.5 Mn in 2019 and is forecast to reach a value of US$ 1915.8 Mn by 2027 at a CAGR of 21.2% between 2020 and 2027.

Market Trends

  1. Rising research and development activities in NLG solutions

Key companies in the market are focused on research and development activities, in order to expand the market presence. These activities can unblock the potential of NLG across various verticals such as weather forecasting, journalism, medicine, and more. For instance, in March 2020, IBM Corporation announced several new IBM Watson technologies designed to aid organizations in identifying, analyzing, and understanding major challenges related to English language.

  1. Growing adoption of NLG in marketing

Natural language generation is being increasingly used in marketing analytics, machine learning, and sales analytics. Sales and marketing analytics provide crucial insights into the market. NLG allows analytics tools to provide responses that are easy and immediately understandable.

Competitive Section

Key players operating in the global natural language generation market are Retresco, Narrative Science, AX Semantics, IBM Corporation, Artificial Solutions, Yseop, Narrative Science, CoGenTex, Inc., ARRIA NLG plc, Automated Insights, Inc., and Phrasetech.

Key Developments

  1. Major companies are focused on product launches, in order to enhance the product portfolio. For instance, in December 2019, AX Semantics introduced AI-powered SaaS-based content generation solution.
  2. Key players are involved in product launches, in order to gain a competitive edge in the market. For instance, in February 2020, Yseop introduced Augmented Analyst, a next-generation AI NLG platform for intelligent reporting automation.

Natural language generation software uses artificial intelligence algorithms to produce the speech or text from the large amount of data. These software enable companies to convert analytical data report into natural languages such as English. Moreover, these software enable companies to create data driven reports, which help them in their strategic decision making.

Market Dynamics

Natural language generation tools are widely used in BFSI, healthcare, retail & e-commerce, IT and telecommunication industry. The NLG tools are used in chabot and rapidly increasing use of chabot is expected to propel growth of the natural language generation market during the forecast period. Moreover, partnership between the IT companies to develop advanced NLG solutions is expected to propel growth of the market. For instance, in April 2018, Retresco GmbH partnered with Deloitte Touche Tohmatsu Limited to develop artificial intelligence driven natural language generation solutions to derive insights from texts and data. Moreover, in February 2018, WordPress, an online website developing platform, partnered with Amazon Web Services to launch Amazon Polly plugin, which converts texts into audio format.  

Key features of the study:

  • This report provides in-depth analysis of the global natural language generation market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020– 2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading  market players
  • It profiles leading players in the global natural language generation market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
  • Companies covered as part of this study include Retresco, Narrative Science, AX Semantics, IBM Corporation, Artificial Solutions, Yseop, Narrative Science, CoGenTex, Inc., ARRIA NLG plc, Automated Insights, Inc., and Phrasetech
  • Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
  • The global natural language generation market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global natural language generation market

Detailed Segmentation

  • Global Natural Language Generation Market, By Component:
    • Software
    • Services
  • Global Natural Language Generation Market, By Application:
    • Fraud Detection and Anti-Money Laundering
    • Predictive Maintenance
    • Risk & Compliance Management
    • Performance Management
    • Customer Experience Management
    • Others
  • Global Natural Language Generation Market, By Deployment Method:
    • On-premise
    • Cloud
  • Global Natural Language Generation Market, By Organization Size:
    • SMEs
    • Large Enterprises
  • Global Natural Language Generation Market, By Vertical:
    • BFSI
    • Retail and Ecommerce
    • Government and Defense
    • Healthcare and Life Sciences
    • Manufacturing
    • Telecom and IT
    • Media and Entertainment
    • Energy and Utilities
    • Others
  • Global Natural Language Generation Market, By Region:
    • North America
      • By Component:
        • Software
        • Services
      • By Application:
        • Fraud Detection and Anti-Money Laundering
        • Predictive Maintenance
        • Risk & Compliance Management
        • Performance Management
        • Customer Experience Management
        • Others
      • By Deployment:
        • On-premise
        • Cloud
      • By Organization Size:
        • SMEs
        • Large Enterprises
      • By Vertical:
        • BFSI
        • Retail and Ecommerce
        • Government and Defense
        • Healthcare and Life Sciences
        • Manufacturing
        • Telecom and IT
        • Media and Entertainment
        • Energy and Utilities
        • Others
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Component:
        • Software
        • Services
      • By Application:
        • Fraud Detection and Anti-Money Laundering
        • Predictive Maintenance
        • Risk & Compliance Management
        • Performance Management
        • Customer Experience Management
        • Others
      • By Deployment:
        • On-premise
        • Cloud
      • By Organization Size:
        • SMEs
        • Large Enterprises
      • By Vertical:
        • BFSI
        • Retail and Ecommerce
        • Government and Defense
        • Healthcare and Life Sciences
        • Manufacturing
        • Telecom and IT
        • Media and Entertainment
        • Energy and Utilities
        • Others
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Component:
        • Software
        • Services
      • By Application:
        • Fraud Detection and Anti-Money Laundering
        • Predictive Maintenance
        • Risk & Compliance Management
        • Performance Management
        • Customer Experience Management
        • Others
      • By Deployment:
        • On-premise
        • Cloud
      • By Organization Size:
        • SMEs
        • Large Enterprises
      • By Vertical:
        • BFSI
        • Retail and Ecommerce
        • Government and Defense
        • Healthcare and Life Sciences
        • Manufacturing
        • Telecom and IT
        • Media and Entertainment
        • Energy and Utilities
        • Others
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Latin America
      • By Component:
        • Software
        • Services
      • By Application:
        • Fraud Detection and Anti-Money Laundering
        • Predictive Maintenance
        • Risk & Compliance Management
        • Performance Management
        • Customer Experience Management
        • Others
      • By Deployment:
        • On-premise
        • Cloud
      • By Organization Size:
        • SMEs
        • Large Enterprises
      • By Vertical:
        • BFSI
        • Retail and Ecommerce
        • Government and Defense
        • Healthcare and Life Sciences
        • Manufacturing
        • Telecom and IT
        • Media and Entertainment
        • Energy and Utilities
        • Others
      • By Country:
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • By Component:
        • Software
        • Services
      • By Application:
        • Fraud Detection and Anti-Money Laundering
        • Predictive Maintenance
        • Risk & Compliance Management
        • Performance Management
        • Customer Experience Management
        • Others
      • By Deployment:
        • On-premise
        • Cloud
      • By Organization Size:
        • SMEs
        • Large Enterprises
      • By Vertical:
        • BFSI
        • Retail and Ecommerce
        • Government and Defense
        • Healthcare and Life Sciences
        • Manufacturing
        • Telecom and IT
        • Media and Entertainment
        • Energy and Utilities
        • Others
      • By Country/Region:
        • GCC Countries
        • South Africa
        • Rest of Middle East and Africa
  • Company Profiles
    • ARRIA NLG plc
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments/ Updates
    • Artificial Solutions
    • Automated Insights, Inc.
    • AX Semantics
    • CoGenTex, Inc.
    • IBM Corporation
    • Narrative Science
    • Narrative Science
    • Phrasetech
    • Retresco
    • Yseop

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Application
      • Market Snippet, By Deployment
      • Market Snippet, By Organization Size
      • Market Snippet, By vertical
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Component Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Analyst View on Impact of COVID-19 on Market
    • Short Term
    • Long term
  5. Global Natural Language Generation Market, By Application, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment trends
    • Fraud Detection and Anti-Money Laundering
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Predictive Maintenance
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Risk & Compliance Management
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Performance Management
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Customer Experience Management
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  6. Global Natural Language Generation Market, By Deployment, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment trends
    • On-Premise
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Cloud
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  7. Global Natural Language Generation Market, By Organization Size, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment trends
    • SME’s
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Large Enterprises
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  8. Global Natural Language Generation Market, By vertical, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment trends
    • BFSI
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Retail and Ecommerce
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Government and Defense
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Healthcare and Life Sciences
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Manufacturing
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Telecom and IT
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Media and Entertainment
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Energy and Utilities
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  9. Global Natural Language Generation Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Application, 2020–2027(US$ Million)
      • Market Size and Forecast, By Deployment, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Organization Size, 2020–2027(US$ Million)
      • Market Size and Forecast, By Vertical, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Application, 2020–2027(US$ Million)
      • Market Size and Forecast, By Deployment, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Organization Size, 2020–2027(US$ Million)
      • Market Size and Forecast, By Vertical, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Application, 2020–2027(US$ Million)
      • Market Size and Forecast, By Deployment, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Organization Size, 2020–2027(US$ Million)
      • Market Size and Forecast, By Vertical, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Rest of the World
      • Regional Trends
      • Market Size and Forecast, By Application, 2020–2027(US$ Million)
      • Market Size and Forecast, By Deployment, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Organization Size, 2020–2027(US$ Million)
      • Market Size and Forecast, By Vertical, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • GCC Countries
        • South Africa
  10. Competitive Landscape
    • Company Profiles
      • ARRIA NLG plc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Amazon Web Services
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Artificial Solutions
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • AX Semantics
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • CoGenTex, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • IBM Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Narrative Science
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Phrasetech
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Retresco
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Yseop
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  11. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on “Global Natural Language Generation Market -forecast to 2027”.

FAQgrowicon

Frequently Asked Questions

The global market for Natural Language Generation is expected to reach USD 732.5 Million by 2022.
Growing need to understand customers’ behavior is expected to drive growth of the global natural language generation market during the forecast period.
BFSI sub-segment holds the largest market share among Vertical Segment contributing 22.1% market share in terms of value in 2019.
North America region hold the largest share in the global Natural Language Generation market in 2019, accounting for 34.7% share in terms of value.
Key players operating in the global Natural Language Generation market are Retresco, Narrative Science, AX Semantics, IBM Corporation, Artificial Solutions, Yseop, Narrative Science, CoGenTex, Inc., ARRIA NLG plc, Automated Insights, Inc., and Phrasetech.
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