The Natural Language Understanding (NLU) Market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2019-2027). The assessment provides a 360° view and insights, outlining the key outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions for improved profitability. In addition, the study helps venture or private players in understanding the companies more precisely to make better informed decisions.
Major Players are:
IBM, A.S. Watson Group, Nuance Communications, Amazon Web Services, Microsoft, SAS Institute, Idiap Research Institute, The Aspect NLU Lab
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Natural language understanding (NLU) is a branch of artificial intelligence (AI) that hereby uses computer software to understand the input in the form of sentences in text or speech format. NLU directly enables human-computer interaction (HCI). Understanding the NLU for the purpose of natural human languages enables the computers to understand commands without the formalized syntax of computer languages, as well as computers to communicate with people in their own language. The field of NLU is important as well as a challenging subset of natural language processing (NLP). While both understand human language, the NLU’s job is to communicate with untrained people and understand their intentions, which hereby means that the NLU goes beyond understanding words and interprets meaning. NLU is even programmed with the ability to understand the meaning despite common human errors such as incorrect pronunciations or transposed letters or words. NLU uses algorithms to reduce human language into a structured ontology. AI fishes out things like intent, timing, places, and feelings.
The Emergence of Several New Application Areas
The Increasing Use of Voice Recognition in Several Industries
The Rising Spending Capabilities of the People
The Rise in the Utility of Smart Devices
The Increasing Demand for Enhanced Customer Experience
The Surging Investments in the Healthcare Sector
Years considered for this report:
- Historical Years: 2015-2019
- Base Year: 2019
- Estimated Year: 2020
- Forecast Period: 2020-2027
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Current Scenario Analysis for Decision Framework
Key Strategic Developments in Natural Language Understanding (NLU) Market:
The research includes the key strategic activities such as Research & Development (R&D) initiatives, Merger & Acquisition (M&A) completed, agreements, new launches, collaborations, partnerships & (JV) Joint ventures, and regional growth of the key competitors operating in the market at global and regional scale to overcome current slowdown due to COVID-19.
Key Market Features in Global Natural Language Understanding (NLU) Market
The report highlights Natural Language Understanding (NLU) market features, including revenue size, weighted average regional price, capacity utilization rate, production rate, gross margins, consumption, import & export, demand & supply, cost bench-marking in Natural Language Understanding (NLU) market share and annualized growth rate (Y-o-Y) and Periodic CAGR.
Significant Facets concerning the Report:
– Natural Language Understanding (NLU) Market Summary
-Fiscal Effect on Economy
-Natural Language Understanding (NLU) Market Competition
-Natural Language Understanding (NLU) Market Analysis by Application
-Industrial Chain, Down-stream Buyers and Sourcing Strategy
-Distributors/Traders, Marketing Strategy Analysis
-Facets, Market Effect, Diagnosis
-The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Natural Language Understanding (NLU) Market have also been included in the study.
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Extract from Table of Content:
Chapter 01 – Executive Summary
1.1 360 Degree Synopsis
1.2 Market value (US$ million).
Chapter 02 – Market Overview
Chapter 03 – Key Success Factors
3.1 Strategies adopted by key market participants and factors that have turned into success.
3.2 Additional viewpoint on global average pricing analysis benchmark, and consumer’s sentiments’ analysis.
Chapter 04 – Covid-19 Crisis Analysis on Natural Language Understanding (NLU) Market
Chapter 05 – Global Natural Language Understanding (NLU) Market – Pricing Analysis
Chapter 06 – Natural Language Understanding (NLU) Market Background
6.1 Macroeconomic factors affecting the Natural Language Understanding (NLU) market
6.2 Explore supply chain and value chain analysis.
6.3 In-depth information about the market dynamics and their consequences.
Chapter 07 — Natural Language Understanding (NLU) Market Segmentation
Chapter 08 – Key and Emerging Countries Analysis in Natural Language Understanding (NLU) Market
Chapter 09 – Natural Language Understanding (NLU) Market Structure Analysis
Chapter 10 – Natural Language Understanding (NLU) Market Competitive Analysis
10.1 Market Concentration Rate
10.2 Competition Scenario: BCG Matrix [Relative Market Share v/s Revenue Growth Rate]
10.3 Heat Map Analysis
10.4 Comparative Market Share Analysis by Players (2018-2019) Rank, [% Market Share, Market Revenue]
Chapter 11 – Assumptions and Acronyms
Chapter 12 – Research Methodology
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Key Questions Addressed in the Report
- Who are the top 20 players operating in the Natural Language Understanding (NLU) market?
- What covers the drivers, restraints, opportunities, and challenges in the Natural Language Understanding (NLU) industry?
- What are the growth trends in the market at the segmental and overall market levels?
- Which are the untapped emerging regions in the Natural Language Understanding (NLU) market?
- What are the recent application areas in the market?
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