The Japan natural language processing (NLP) market is estimated to garner a revenue of USD 4739.4 Million by the end of 2030 by growing at a CAGR of 25.5% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market in the nation registered a revenue of USD 509.4 Million. The growth of the market can primarily be attributed to the increasing advancements in deep learning architecture and algorithms in the field of image recognition and speech processing, along with the growing applications of natural language processing (NLP) across different end-use industries. Besides this, the demand for NLP is also anticipated to grow on account of the high affordability, scalability and computational power of the technology, which thereby allows businesses to optimize their operational expenditure and gain higher efficiency from their work processes. Also, rising digitization, followed by the merger of natural language processing with machine learning (ML) and deep learning (DL), are also anticipated to drive the market growth in the coming years.
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The Japan natural language processing (NLP) market is also anticipated to grow on account of the rising utilization of NLP in healthcare, surge in demand for advanced text analytics, along with the rising focus of the government of the nation for the greater use of artificial intelligence. For instance, on July 28th, 2017, Japan distributed the “Draft AI R&D GUIDELINES for International Discussion”, a document which aims at upbringing the enormous advantages of AI to the general public and for the development of the nation’s GDP. Apart from this, the growing use of artificial intelligence in the nation to support the vision of Society 5.0, where physical space and cyberspace are increasingly interconnected, followed by the rise in the number of individuals using the internet, are also expected to drive the market growth in the coming years. According to the statistics by the World Bank, individuals using the internet as a share of the total population of Japan, increased from 29.991% in the year 2000 to 92.73% in the year 2019.
The Japan natural language processing (NLP) market is segmented by component into hardware, solutions, and services. Out of these, the services segment is anticipated to garner the largest revenue of USD 1921.6 Million by the end of 2030, up from a revenue of USD 210.9 Million in the year 2020. By deployment, the market is segmented into on-premise, and cloud. Out of these segments, the cloud segment is anticipated to grow with the highest CAGR of 27.0% during the forecast period. The market is further segmented by enterprise size into small & medium-sized enterprises (SMEs), and large enterprises, out of which, the large enterprises segment is anticipated to grow with the highest CAGR of 25.9% during the forecast period. By type, the market is segmented into rule-based, statistical, and hybrid. Out of these, the statistical segment is anticipated to garner the largest revenue of USD 2418.7 Million by the end of 2030, up from a revenue of USD 251.2 Million in the year 2020. The market is also segmented by language into English, Japanese, and other languages. Out of these segments, the Japanese segment registered the largest market revenue in the year 2020, and is further anticipated to touch USD 2897.6 Million by the end of 2030.
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By application, the market is segmented into sentiment analysis, data extraction, risk & threat detection, automatic summarization, content management, language scoring, and others. Amongst these, the data extraction segment is anticipated to attain the largest revenue of USD 1246.1 Million by the end of 2030, up from a revenue of USD 125.5 Million in the year 2020. By end-use industry, the market is segmented into education, BFSI, healthcare, IT & telecom, retail, manufacturing, media & entertainment, and others. Out of these, the BFSI segment is anticipated to generate the largest revenue of USD 1895.1 Million by the end of 2030, up from a revenue of USD 188.9 Million in the year 2020.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Japan natural language processing (NLP) market that are included in our report are Microsoft Corporation, Amazon.com, Inc., Alphabet Inc., IBM Corporation, Micro Focus International plc, SAS Institute Inc., Atilika, Inc., Data Artist Inc., WOW WORLD Inc., Nippon Telegraph and Telephone Corporation, and others.
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FREQUENTLY ASKED QUESTIONS
The increasing demand for NLP in various end-use industries, and the growing initiatives of the government of Japan to promote the use of AI are some of the major factors anticipated to drive the market growth.
The market is anticipated to attain a CAGR of 25.5% over the forecast period, i.e., 2021 – 2030.
The lack of skilled employees to tackle the complexities associated with AI and NLP is one of the major factors estimated to hamper the market growth.
The major players in the market are Microsoft Corporation, Amazon.com, Inc., Alphabet Inc., IBM Corporation, Micro Focus International plc, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by component, deployment, enterprise size, type, language, application, and by end-use industry.
The services segment is anticipated to garner the largest revenue of USD 1921.6 Million by the end of 2030 and display significant growth opportunities.
Japan Natural Language Processing (NLP) Market TOC
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