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Lux Saviyo
2024-09-16 08:58:20 -

Introduction Storage as a Service Market
Storage as a Service (STaaS) is a cloud-based model that allows businesses to rent storage infrastructure from providers. This eliminates the need for purchasing and maintaining hardware, offering a cost-effective, scalable, and flexible solution for managing data efficiently.
Market overview
Storage as a Service Market is Valued USD 15.7 billion by 2024 and projected to reach USD 102.7 billion by 2032, growing at a CAGR of 23.20% During the Forecast period of 2024-2032.This growth is driven by increasing adoption of cloud services, digital transformation efforts, and the need for businesses to outsource the management of complex IT applications to enhance efficiency and reduce costs.
Access Full Report:https://www.marketdigits.com/checkout/377?lic=s
Major Classifications are as follows:
•
o By Service Type
 Cloud Backup
 Cloud Archiving
 Stand-Alone & Platform-Attached Storage
By Region
 North America
 US
 Canada
 Europe
 UK
 Germany
 Franc
 Rest of Europe
 Asia-Pacific (APAC)
 China
 Japan
 India
 Rest of APAC
 Rest of the World (RoW)
 Middle East
 Africa
 South America
• Key Region/Countries are Classified as Follows:
◘ North America (United States, Canada,)
• ◘ Latin America (Brazil, Mexico, Argentina,)
• ◘ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
• ◘ Europe (UK,Germany,France,Italy,Spain,Russia,)
• ◘ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South
•
Major players in Storage as a Service Market:
Dell Technologies, Hitachi, Vantara, Zadara Storage, Cloudian, Quantum Corporation, AWS, IBM Corporation, Microsoft, HPE, Google, AT&T, Rackspace Inc among others.
Market Drivers in Storage as a Service Market:
1. Growing Need for Cloud-Based Storage Systems: Storage as a Service increasingly adopt cloud technologies, the demand for scalable and flexible storage solutions has surged.
2. Big Data Management and Analytics: The exponential growth of data generated by various industries necessitates robust storage solutions.
3. Data Archiving and Compliance Requirements: Many industries face stringent regulatory requirements for data retention and archiving.
Market Challenges in Storage as a Service Market:
1.Cloud Data Security Concerns: As enterprises increasingly rely on cloud storage solutions, they face heightened risks of data breaches and unauthorized access.

2.Bandwidth Limitations: Effective utilization of STaaS often requires high-speed internet connections. Limited bandwidth can hinder performance and accessibility.

3.Interoperability Issues: Integrating STaaS with existing IT systems and applications can be complex. Compatibility issues between different platforms and technologies can create operational inefficiencies and increase costs.
Market Opportunities in Storage as a Service Market:
1. Expansion of Digital Infrastructure: The increasing availability of digital infrastructure, especially in emerging markets, presents a significant opportunity for STaaS providers to expand their services and reach new customers.
2. Growth in Mobile Device Usage: The surge in mobile device usage drives the need for efficient and scalable storage solutions, creating a growing market for STaaS.
3. Technological Advancements: Continuous advancements in cloud computing, AI, and machine learning offer opportunities for STaaS providers to enhance their offerings, improve efficiency, and deliver more value to customers.
Future Trends in Storage as a Service Market:
1. Hybrid Cloud Integration: Combining on-premises storage with cloud storage services to offer flexibility and scalability.
2.
3. AI and Machine Learning Integration: Leveraging AI and ML for predictive analytics and automated management of storage resources
4.
5. Enhanced Security Measures: Implementing advanced cybersecurity protocols to protect data from breaches and cyber threats.
Conclusion:
The Storage as a Service (STaaS) market is poised for significant growth, driven by the increasing demand for scalable, flexible, and cost-effective storage solutions. Key trends such as hybrid cloud integration, AI and machine learning advancements, and enhanced security measures are shaping the future of this market. As businesses continue to generate vast amounts of data, the need for efficient storage solutions will only intensify, making STaaS a critical component of modern IT infrastructure.

Introduction Storage as a Service Market Storage as a Service (STaaS) is a cloud-based model that allows businesses to rent storage infrastructure from providers. This eliminates the need for purchasing and maintaining hardware, offering a cost-effective, scalable, and flexible solution for managing data efficiently. Market overview Storage as a Service Market is Valued USD 15.7 billion by 2024 and projected to reach USD 102.7 billion by 2032, growing at a CAGR of 23.20% During the Forecast period of 2024-2032.This growth is driven by increasing adoption of cloud services, digital transformation efforts, and the need for businesses to outsource the management of complex IT applications to enhance efficiency and reduce costs. Access Full Report:https://www.marketdigits.com/checkout/377?lic=s Major Classifications are as follows: • o By Service Type  Cloud Backup  Cloud Archiving  Stand-Alone & Platform-Attached Storage By Region  North America  US  Canada  Europe  UK  Germany  Franc  Rest of Europe  Asia-Pacific (APAC)  China  Japan  India  Rest of APAC  Rest of the World (RoW)  Middle East  Africa  South America • Key Region/Countries are Classified as Follows: ◘ North America (United States, Canada,) • ◘ Latin America (Brazil, Mexico, Argentina,) • ◘ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia) • ◘ Europe (UK,Germany,France,Italy,Spain,Russia,) • ◘ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South • Major players in Storage as a Service Market: Dell Technologies, Hitachi, Vantara, Zadara Storage, Cloudian, Quantum Corporation, AWS, IBM Corporation, Microsoft, HPE, Google, AT&T, Rackspace Inc among others. Market Drivers in Storage as a Service Market: 1. Growing Need for Cloud-Based Storage Systems: Storage as a Service increasingly adopt cloud technologies, the demand for scalable and flexible storage solutions has surged. 2. Big Data Management and Analytics: The exponential growth of data generated by various industries necessitates robust storage solutions. 3. Data Archiving and Compliance Requirements: Many industries face stringent regulatory requirements for data retention and archiving. Market Challenges in Storage as a Service Market: 1.Cloud Data Security Concerns: As enterprises increasingly rely on cloud storage solutions, they face heightened risks of data breaches and unauthorized access. 2.Bandwidth Limitations: Effective utilization of STaaS often requires high-speed internet connections. Limited bandwidth can hinder performance and accessibility. 3.Interoperability Issues: Integrating STaaS with existing IT systems and applications can be complex. Compatibility issues between different platforms and technologies can create operational inefficiencies and increase costs. Market Opportunities in Storage as a Service Market: 1. Expansion of Digital Infrastructure: The increasing availability of digital infrastructure, especially in emerging markets, presents a significant opportunity for STaaS providers to expand their services and reach new customers. 2. Growth in Mobile Device Usage: The surge in mobile device usage drives the need for efficient and scalable storage solutions, creating a growing market for STaaS. 3. Technological Advancements: Continuous advancements in cloud computing, AI, and machine learning offer opportunities for STaaS providers to enhance their offerings, improve efficiency, and deliver more value to customers. Future Trends in Storage as a Service Market: 1. Hybrid Cloud Integration: Combining on-premises storage with cloud storage services to offer flexibility and scalability. 2. 3. AI and Machine Learning Integration: Leveraging AI and ML for predictive analytics and automated management of storage resources 4. 5. Enhanced Security Measures: Implementing advanced cybersecurity protocols to protect data from breaches and cyber threats. Conclusion: The Storage as a Service (STaaS) market is poised for significant growth, driven by the increasing demand for scalable, flexible, and cost-effective storage solutions. Key trends such as hybrid cloud integration, AI and machine learning advancements, and enhanced security measures are shaping the future of this market. As businesses continue to generate vast amounts of data, the need for efficient storage solutions will only intensify, making STaaS a critical component of modern IT infrastructure.

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Marcomega Marcomega ein Foto hinzugefügt
2024-07-11 13:29:37 -

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Brett Lee RT hat einen Link geteilt
2023-11-06 07:42:28 -

Seaweed Protein Market Analysis by Trends, Size, Share, Growth Opportunities, and Emerging Technologies

The global seaweed protein market is witnessing growth and is projected to reach USD 1,397.7 million by 2030. Protein removal from comestible seaweeds for a range of health applications is a developing trend. The utilization of substitute sources of protein is being encouraged, as, not like cattle farming, they do not contribute to land utilization and GHG emissions. Moreover, because of the danger of communicable viral illnesses in animals, the eating of meat proteins may come down.

In recent years, in the worldwide seaweed protein industry, proteins removed from red seaweeds had around 70% industry share. Red seaweed is responsible for around 50% of the global seaweed cultivation. Nori is the red seaweed with the uppermost calculated protein content, of more than 47%.

Red seaweeds are vital for humans primarily as a binder in food items, and also a bacterial substrate in labs. Kappaphycus and Eucheuma are utilized to make carrageenan, which is utilized in cosmetics and food processing and for numerous manufacturing purposes.

Sales of proteins removed from seaweed through old-style approaches had the larger seaweed protein industry share, of approximately 55%, in recent years.

Browse detailed report - https://www.psmarketresearch.com/market-analysis/seaweed-protein-market

Additionally, seaweed is known as a powerhouse of minerals and vitamins. To guarantee food safety globally and considering the huge ocean area obtainable and its low usage currently, there should be a move in food production methods from land-based to sea-based.

The increasing requirement for seaweed snacks, the growing popularity of Japanese cuisine, and rising awareness of the existence of plant substitutes to animal sources of nutrients continue to propel the usage of seaweed protein in the food sector.

The eating of seaweeds and hydrocolloids in APAC is around 60% of the total making throughout the world. China has arisen as the largest trader of eatable and non-edible Seaweed seaweed for further dispensation. In addition, the Philippines is one of the two biggest exporters of coprocessor and packaged carrageenan after China. The last ten years have seen a 40% increase in carrageenan exports from the Philippines.

Seaweed Protein Market Analysis by Trends, Size, Share, Growth Opportunities, and Emerging Technologies The global seaweed protein market is witnessing growth and is projected to reach USD 1,397.7 million by 2030. Protein removal from comestible seaweeds for a range of health applications is a developing trend. The utilization of substitute sources of protein is being encouraged, as, not like cattle farming, they do not contribute to land utilization and GHG emissions. Moreover, because of the danger of communicable viral illnesses in animals, the eating of meat proteins may come down. In recent years, in the worldwide seaweed protein industry, proteins removed from red seaweeds had around 70% industry share. Red seaweed is responsible for around 50% of the global seaweed cultivation. Nori is the red seaweed with the uppermost calculated protein content, of more than 47%. Red seaweeds are vital for humans primarily as a binder in food items, and also a bacterial substrate in labs. Kappaphycus and Eucheuma are utilized to make carrageenan, which is utilized in cosmetics and food processing and for numerous manufacturing purposes. Sales of proteins removed from seaweed through old-style approaches had the larger seaweed protein industry share, of approximately 55%, in recent years. Browse detailed report - https://www.psmarketresearch.com/market-analysis/seaweed-protein-market Additionally, seaweed is known as a powerhouse of minerals and vitamins. To guarantee food safety globally and considering the huge ocean area obtainable and its low usage currently, there should be a move in food production methods from land-based to sea-based. The increasing requirement for seaweed snacks, the growing popularity of Japanese cuisine, and rising awareness of the existence of plant substitutes to animal sources of nutrients continue to propel the usage of seaweed protein in the food sector. The eating of seaweeds and hydrocolloids in APAC is around 60% of the total making throughout the world. China has arisen as the largest trader of eatable and non-edible Seaweed seaweed for further dispensation. In addition, the Philippines is one of the two biggest exporters of coprocessor and packaged carrageenan after China. The last ten years have seen a 40% increase in carrageenan exports from the Philippines.

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Seaweed Protein Market Growth Analysis and Forecast 2022-2030
The seaweed protein market size was valued at $513.7 million in 2021, and it is expected to grow at a compound annual growth rate of 11.8% between 2021 and 2030.

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Brett Lee RT hat einen Link geteilt
2023-10-26 05:49:52 -

Dietary Supplements Market Share, Size, Future Demand, and Emerging Trends

The major drivers in the global dietary supplements market are paradigm shifts in consumer preferences, increasing prevalence of long-term disorders, rising consumer inclination toward physical well-being and health, and snowballing demand for sports nutritional supplements. In 2021, the market stood at $123.1 billion, and it is predicted to touch $288.5 billion by 2030. The market will witness an approximately 10% CAGR from 2021 to 2030. The growth in the market will go hand in hand with the surging consumer awareness toward a healthy lifestyle, and the rising count of gyms and sports complexes.

Within the distribution channel segment, the development of the online retail category will augment growth in the dietary supplements market. There is a surging investment in the R&D activities to adapt to the shifting consumer tastes and preferences to cater to a wide range of consumers. Also, the increasing number of smartphones and rising internet penetration have boosted the sales of this category. Moreover, a surging inclination toward online retail will lead to an expansion of the scope of these products. Moreover, tailoring supplements for a specific consumer bracket will drive the market.

Get More Insights: https://www.psmarketresearch.com/market-analysis/dietary-supplements-market

In 2021, APAC dominated the dietary supplements market, accounting for at least 45% of the global market share. This can be ascribed to the surging awareness regarding supplements, growing population, increasing incidence of obesity, rising disposable income, and consequently, increasing purchasing parity of consumers on these health-enhancing products. Moreover, the market demand is fueled by the increasing incidence of chronic illness among the populous nations of Japan, India, and China.

Hence, a growing geriatric population, coupled with a growing count of gyms, health clubs, and fitness centers.

Dietary Supplements Market Share, Size, Future Demand, and Emerging Trends The major drivers in the global dietary supplements market are paradigm shifts in consumer preferences, increasing prevalence of long-term disorders, rising consumer inclination toward physical well-being and health, and snowballing demand for sports nutritional supplements. In 2021, the market stood at $123.1 billion, and it is predicted to touch $288.5 billion by 2030. The market will witness an approximately 10% CAGR from 2021 to 2030. The growth in the market will go hand in hand with the surging consumer awareness toward a healthy lifestyle, and the rising count of gyms and sports complexes. Within the distribution channel segment, the development of the online retail category will augment growth in the dietary supplements market. There is a surging investment in the R&D activities to adapt to the shifting consumer tastes and preferences to cater to a wide range of consumers. Also, the increasing number of smartphones and rising internet penetration have boosted the sales of this category. Moreover, a surging inclination toward online retail will lead to an expansion of the scope of these products. Moreover, tailoring supplements for a specific consumer bracket will drive the market. Get More Insights: https://www.psmarketresearch.com/market-analysis/dietary-supplements-market In 2021, APAC dominated the dietary supplements market, accounting for at least 45% of the global market share. This can be ascribed to the surging awareness regarding supplements, growing population, increasing incidence of obesity, rising disposable income, and consequently, increasing purchasing parity of consumers on these health-enhancing products. Moreover, the market demand is fueled by the increasing incidence of chronic illness among the populous nations of Japan, India, and China. Hence, a growing geriatric population, coupled with a growing count of gyms, health clubs, and fitness centers.

WWW.PSMARKETRESEARCH.COM

Dietary Supplements Market Size and Growth Forecasts 2022-2030
The global dietary supplement market size was valued at $123.1 billion in 2021, and it is expected to grow at a CAGR of 9.9% during 2021–2030. APAC led the market, with a revenue share of 45.8%, in 2021.

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Ellen Kuhn added product for sale
2023-08-23 06:46:45 -

Sports Apparel Market Outlook Stats Global Industry Achieving Huge Revenue In Upcoming Years Neu

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sports apparel Market Industry Size, Growth, Demand, Opportunities and Forecast By 2028
KD Market Insights has been tracking the sports apparel market and it is forecasted to flourish at CAGR of 4.1% during forecast period. Further, the market size of sports apparel market is likely to reach USD 191.4 Billion. during 2022-2032. The report on sports apparel market offers an in-depth analysis of past trends and where the future of sports apparel is heading. This report also offers insights on market data and forecast, trends, market dynamics such as industry driver, and restraints. Apart from this, it also covers company profiling of leading companies operating in industry.
Clothing and accessories created especially for athletic endeavors and sports-related uses are referred to as sportswear. These clothes are designed to aid athletes and those who engage in physical activity by enhancing comfort, functionality, and performance. Sports clothing is made to fit the unique movement patterns and physical demands involved with different sports and workouts.

Download Exclusive Sample Report @ https://www.kdmarketinsights.com/sample/3023
Sports Apparel Market Overview:
The sports apparel market has evolved into a dynamic and lucrative industry, driven by a global surge in fitness consciousness and athleisure trends. In recent years, the market has witnessed remarkable growth, with a diverse range of activewear encompassing clothing, footwear, and accessories.
Key market players include Adidas AG, Nike, Inc., Puma SE, Under Armour, Inc., and Ralph Lauren Corporation. These companies dominate the industry through their established brand presence, technological innovation, and diversified product portfolios. The market's future growth hinges on technological advancements enhancing battery efficiency, eco-friendly formulations, and rising demand from emerging economies.
Global Sports Apparel Market Scope
The global sports apparel market holds vast scope, propelled by various factors that shape its trajectory. With a growing emphasis on health and fitness, the demand for performance-oriented and stylish sportswear continues to surge. This trend, coupled with the increasing popularity of athleisure, extends the market's scope beyond traditional athletic activities.

Technological advancements in fabric innovation, such as moisture-wicking, temperature regulation, and compression textiles, drive the market's expansion. This evolution caters to athletes, fitness enthusiasts, and even casual wearers seeking comfort and functionality.
The global alkaline battery market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Browse Full Report Along With Facts and Figures@ https://www.kdmarketinsights.com/reports/sports-apparel-market/3023
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About KD Market Research Insights
KD Market Research Company is a reputable and industry-leading market research firm that offers insightful insights, Analytics, and Research Reports for a variety of industries. With an emphasis on providing accurate and actionable market insights and data, our team of experienced research analysts conducts exhaustive research to assist businesses in making informed decisions. Whether you require market forecasts, competitive analysis, or the identification of trends, we offer comprehensive solutions tailored to your specific requirements. Stay ahead of the competition with the dependable market research services of KD Market Research Company.
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KD Market Insights
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sports apparel Market Industry Size, Growth, Demand, Opportunities and Forecast By 2028 KD Market Insights has been tracking the sports apparel market and it is forecasted to flourish at CAGR of 4.1% during forecast period. Further, the market size of sports apparel market is likely to reach USD 191.4 Billion. during 2022-2032. The report on sports apparel market offers an in-depth analysis of past trends and where the future of sports apparel is heading. This report also offers insights on market data and forecast, trends, market dynamics such as industry driver, and restraints. Apart from this, it also covers company profiling of leading companies operating in industry. Clothing and accessories created especially for athletic endeavors and sports-related uses are referred to as sportswear. These clothes are designed to aid athletes and those who engage in physical activity by enhancing comfort, functionality, and performance. Sports clothing is made to fit the unique movement patterns and physical demands involved with different sports and workouts. Download Exclusive Sample Report @ https://www.kdmarketinsights.com/sample/3023 Sports Apparel Market Overview: The sports apparel market has evolved into a dynamic and lucrative industry, driven by a global surge in fitness consciousness and athleisure trends. In recent years, the market has witnessed remarkable growth, with a diverse range of activewear encompassing clothing, footwear, and accessories. Key market players include Adidas AG, Nike, Inc., Puma SE, Under Armour, Inc., and Ralph Lauren Corporation. These companies dominate the industry through their established brand presence, technological innovation, and diversified product portfolios. The market's future growth hinges on technological advancements enhancing battery efficiency, eco-friendly formulations, and rising demand from emerging economies. Global Sports Apparel Market Scope The global sports apparel market holds vast scope, propelled by various factors that shape its trajectory. With a growing emphasis on health and fitness, the demand for performance-oriented and stylish sportswear continues to surge. This trend, coupled with the increasing popularity of athleisure, extends the market's scope beyond traditional athletic activities. Technological advancements in fabric innovation, such as moisture-wicking, temperature regulation, and compression textiles, drive the market's expansion. This evolution caters to athletes, fitness enthusiasts, and even casual wearers seeking comfort and functionality. The global alkaline battery market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa). Browse Full Report Along With Facts and Figures@ https://www.kdmarketinsights.com/reports/sports-apparel-market/3023 Browse Trending Reports: https://www.kdmarketinsights.com/reports/single-serve-coffee-container-market/7000 https://www.kdmarketinsights.com/reports/electric-toothbrush-market/6950 https://www.kdmarketinsights.com/reports/stand-up-paddle-board-market/6868 https://www.kdmarketinsights.com/reports/higher-education-market/6813 https://www.kdmarketinsights.com/reports/home-improvement-spending-market/6161 https://www.kdmarketinsights.com/reports/anti-pollution-mask-market/5617 About KD Market Research Insights KD Market Research Company is a reputable and industry-leading market research firm that offers insightful insights, Analytics, and Research Reports for a variety of industries. With an emphasis on providing accurate and actionable market insights and data, our team of experienced research analysts conducts exhaustive research to assist businesses in making informed decisions. Whether you require market forecasts, competitive analysis, or the identification of trends, we offer comprehensive solutions tailored to your specific requirements. Stay ahead of the competition with the dependable market research services of KD Market Research Company. Contact Us: KD Market Insights 150 State Street, Albany, New York, USA 12207 +1 (518) 300-1215 Email: sales@kdmarketinsights.com Website: www.kdmarketinsights.com

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Anany Joshi RT hat einen Link geteilt
2023-08-16 06:49:59 -

Automation of Businesses to Fuel Natural Language Processing Market Growth

The natural language processing (NLP) market stood at $8.3 billion in 2018, and it will reach $22.9 billion by 2024, at a CAGR of 19.7% during the forecast period (2019–2024). This growth can be driven by the increasing focus of businesses on automated business model and rising adoption of chatbots in organizations. Moreover, the market growth is also supported by the soaring demand for NLP solutions in contact centers and growing focus to increase customer experience.

One of the key factors driving the market is the surging focus of enterprises on automation solutions. Organizations across the world are shifting from traditional business model to automated business model, to accelerate business growth, streamline work processes, enhance service/product quality, and curtail human errors. The firms deploy NLP technology, as it helps in automating data entry and invoicing and various other processes to improve business performance. For example, several organizations use Bootkeeper, an artificial intelligence (AI) program, to manage accounts, as it automates accounting by handling tasks at a fast pace.

Moreover, widespread adoption of chatbots in organizations is acting as a catalyst for the natural language processing market. Developers are introducing NLP-based chatbots for the organizations to bridge the gap between businesses and customers to enhance customer service. These chatbots can work in various languages and assist enterprises in streamlining their processes, especially those related to customer care. NLP-enabled chatbots can handle consumer queries by being the initial point of contact.

The industry segment of the natural language processing market is categorized into automotive, retail, healthcare, information technology (IT) and telecommunications, and banking, financial services, and insurance (BFSI). Among these, the healthcare category will showcase the fastest growth during the forecast period, owing to the escalating volume of clinical data, spurring demand for premium-quality healthcare, and growing requirement for improving patient outcomes. NLP technology helps in integrating electronic health records (EHR) on a patient portal to facilitate better understanding of health conditions of patients and improve decision-making on the part of physicians.

In 2018, the North American natural language processing market generated the highest revenue, due to the escalating demand for enhanced customer experience, rising data volume across sectors, and increasing investments on research and development (R&D) of AI-enabled technologies by several academia, industries, and non-profit organizations. Of the North American countries, the U.S. emerged as larger contributor, due to the largescale deployment of NLP solutions in financial institutions for efficient business operations. Moreover, increasing IT expenditure and existence of many multinational companies in the region are fueling the market growth.

Furthermore, the Asia-Pacific (APAC) natural language processing market is expected to showcase the fastest growth in the forecast period. This can be ascribed to the augmenting number of small and medium enterprises (SMEs), increasing shift of industries toward automation, and rising investments by governments for the development and deployment of AI-enabled technologies in the region. The SMEs are a quintessential part of the economies of India, South Korea, China, and Japan, and the installation of NLP solutions by these enterprises will propel the market growth in APAC.

Thus, the demand for NLP solutions is fueled by the growing focus of businesses on the automation of their processes and rising adoption of chatbots by enterprises.

Read More: https://www.psmarketresearch.com/market-analysis/natural-language-processing-market

Automation of Businesses to Fuel Natural Language Processing Market Growth The natural language processing (NLP) market stood at $8.3 billion in 2018, and it will reach $22.9 billion by 2024, at a CAGR of 19.7% during the forecast period (2019–2024). This growth can be driven by the increasing focus of businesses on automated business model and rising adoption of chatbots in organizations. Moreover, the market growth is also supported by the soaring demand for NLP solutions in contact centers and growing focus to increase customer experience. One of the key factors driving the market is the surging focus of enterprises on automation solutions. Organizations across the world are shifting from traditional business model to automated business model, to accelerate business growth, streamline work processes, enhance service/product quality, and curtail human errors. The firms deploy NLP technology, as it helps in automating data entry and invoicing and various other processes to improve business performance. For example, several organizations use Bootkeeper, an artificial intelligence (AI) program, to manage accounts, as it automates accounting by handling tasks at a fast pace. Moreover, widespread adoption of chatbots in organizations is acting as a catalyst for the natural language processing market. Developers are introducing NLP-based chatbots for the organizations to bridge the gap between businesses and customers to enhance customer service. These chatbots can work in various languages and assist enterprises in streamlining their processes, especially those related to customer care. NLP-enabled chatbots can handle consumer queries by being the initial point of contact. The industry segment of the natural language processing market is categorized into automotive, retail, healthcare, information technology (IT) and telecommunications, and banking, financial services, and insurance (BFSI). Among these, the healthcare category will showcase the fastest growth during the forecast period, owing to the escalating volume of clinical data, spurring demand for premium-quality healthcare, and growing requirement for improving patient outcomes. NLP technology helps in integrating electronic health records (EHR) on a patient portal to facilitate better understanding of health conditions of patients and improve decision-making on the part of physicians. In 2018, the North American natural language processing market generated the highest revenue, due to the escalating demand for enhanced customer experience, rising data volume across sectors, and increasing investments on research and development (R&D) of AI-enabled technologies by several academia, industries, and non-profit organizations. Of the North American countries, the U.S. emerged as larger contributor, due to the largescale deployment of NLP solutions in financial institutions for efficient business operations. Moreover, increasing IT expenditure and existence of many multinational companies in the region are fueling the market growth. Furthermore, the Asia-Pacific (APAC) natural language processing market is expected to showcase the fastest growth in the forecast period. This can be ascribed to the augmenting number of small and medium enterprises (SMEs), increasing shift of industries toward automation, and rising investments by governments for the development and deployment of AI-enabled technologies in the region. The SMEs are a quintessential part of the economies of India, South Korea, China, and Japan, and the installation of NLP solutions by these enterprises will propel the market growth in APAC. Thus, the demand for NLP solutions is fueled by the growing focus of businesses on the automation of their processes and rising adoption of chatbots by enterprises. Read More: https://www.psmarketresearch.com/market-analysis/natural-language-processing-market

Natural Language Processing Market Outlook, 2024
Natural language processing (NLP) market is forecasted to growth with compound annual growth rate of 19.7% by 2024, according to P&S Intelligence

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