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Global Language Processing Market to Grow at a CAGR of 13.33%, 2017-2021 with Hewlett Packard Enterprise, IBM, Microsoft, SAS Institute & Verint Systems Dominating - Research and Markets

[June 29, 2017]

Global Language Processing Market to Grow at a CAGR of 13.33%, 2017-2021 with Hewlett Packard Enterprise, IBM, Microsoft, SAS Institute & Verint Systems Dominating - Research and Markets

Research and Markets has announced the addition of the "Global Language Processing Market 2017-2021" report to their offering.

The global language processing market to grow at a CAGR of 13.33% during the period 2017-2021.

This report, Global Language Processing Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion operating in this market.

According to the report, one driver in the market is increased investments in speech solutions. There is increased investment in speech solutions because of the cost factor. Speech solutions help businesses to reduce operating costs and enable organizations to expand services without additional overhead costs. This is seen as an advantage in terms of cost factor. Speech solutions identify words spoken by an individual, convert them into a machine-readable format, and respond automatically.

Further the report states that one challenge in the market is high investment for developing and implementing the software. One of the challenges that is inhibiting the growth of the technology is the high investment associated with its development and implementation. Large-scale deployment of language processing in an enterprise is a time-consuming and expensive process, leading to failure in successful implementation and huge loss for the organization.

Key vendors: