Natural Language Generation (NLG) - Global Strategic Business Report

The global market for Natural Language Generation (NLG) was estimated at US$579.4 Million in 2023 and is projected to reach US$1.3 Billion by 2030, growing at a CAGR of 12.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Natural Language Generation (NLG) Market - Key Trends and Drivers Summarized

How Is Natural Language Generation (NLG) Transforming Data Analysis and Content Creation?

Natural Language Generation (NLG) is an artificial intelligence technology that converts structured data into human-readable text. NLG is increasingly used in various sectors, including finance, healthcare, customer service, and marketing, where it helps automate the creation of reports, summaries, and customer interactions. By using algorithms to analyze large datasets and generate narratives, NLG allows organizations to make data-driven insights more accessible. This technology is particularly impactful in industries where there is a need to convert data into plain language for decision-making, thereby streamlining operations and enhancing efficiency.

What Are the Key Trends Shaping the NLG Market?

Several trends are accelerating the adoption of NLG technology, such as the increasing focus on data democratization and automation. As companies gather massive amounts of data, there is a growing need for tools that can quickly transform this information into actionable insights. NLG is also becoming integral to personalized content creation, particularly in marketing, where it is used to generate customized messages for different audience segments. Integration with other AI technologies, such as Natural Language Processing (NLP) and Machine Learning (ML), is enhancing NLG`s capabilities, making it a more powerful tool for real-time data analysis.

Which Segments Are Leading in the Adoption of NLG Technology?

Software solutions dominate the market, as many companies seek to integrate NLG capabilities into their existing data analytics platforms. Financial services, healthcare, and retail are the leading industries adopting NLG due to their reliance on data-driven decision-making. In terms of applications, content automation and business intelligence reporting are the most prevalent, with NLG being used to generate reports, performance summaries, and insights. North America is the leading market, driven by strong technology adoption, while Europe and Asia-Pacific are rapidly catching up.

What Factors Are Driving the Growth in the Natural Language Generation (NLG) Market?

The growth in the NLG market is driven by several factors, including the increasing emphasis on data-driven decision-making across industries. The need for automation in content creation to reduce manual efforts and improve efficiency is a significant driver. The integration of NLG with other AI technologies such as NLP and predictive analytics is expanding its use cases. Additionally, the rising adoption of AI in business intelligence and analytics is creating opportunities for NLG technology to gain a foothold in various sectors. Regulatory requirements for transparent and accessible data reporting are also fostering market growth.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Software Component segment, which is expected to reach US$862.9 Million by 2030 with a CAGR of a 11.5%. The Services Component segment is also set to grow at 15.2% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $156.4 Million in 2023, and China, forecasted to grow at an impressive 17.2% CAGR to reach $306.1 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Natural Language Generation (NLG) Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Natural Language Generation (NLG) Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Natural Language Generation (NLG) Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players in the Global Natural Language Generation (NLG) Market such as 2txt - Natural Language Generation GmbH., Arria NLG, Artificial Solutions, Automated Insights, AWS and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 12 companies featured in this Global Natural Language Generation (NLG) market report include:

• 2txt - Natural Language Generation GmbH.
• Arria NLG
• Artificial Solutions
• Automated Insights
• AWS
• AX Semantics
• CoGenTex
• Conversica
• IBM
• Linguastat
• Narrativa
• Narrative Science
• NarrativeWave
• NewsRx
• Phrasee
• Phrasetech
• Retresco
• Textual Relations
• vPhrase
• Yseop