Global NLP in Finance Market Analysis Report 2023: An $18.8 Billion Market by 2028 from $5.5 Billion in 2023 - Increasing Demand for Automated and Efficient Financial Services
DUBLIN, June 2, 2023 /PRNewswire/ -- The "Global NLP in Finance Market by Offering (Software, Services), Application (Customer Service & Support, Risk Management & Fraud Detection, Sentiment Analysis), Technology (Machine Learning, Deep Learning), Vertical, and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The market is anticipated to grow due to the increasing demand for automated and efficient financial services and rising need for accurate and real-time analysis of complex financial data.
By offering, managed services under services segment to register for fastest growing market rate during forecast period
The market for managed services in NLP in finance is expected to grow significantly in the coming years due to the increasing demand for NLP capabilities in the finance industry. The market is highly competitive, with several established players offering a wide range of NLP services to financial institutions of all sizes.
Some of the key players in this market include IBM, Amazon Web Services, Google, Microsoft, and SAS. These services allow financial institutions to focus on their core business while outsourcing NLP tasks to experts who have the necessary infrastructure, technology, and expertise to provide accurate and efficient NLP solutions.
By vertical, insurance segment to register fastest growing CAGR during forecast period
Insurance is a financial product that protects against unforeseen events or losses. NLP is increasingly used in the insurance industry to improve various processes, including underwriting, claims processing, customer service, and fraud detection.
One of the key areas where NLP is used in insurance is underwriting. Insurance companies use NLP to analyze large amounts of data from various sources, such as social media, credit scores, and medical records, to assess risk and determine premiums.
North America to account for the largest market size during the forecast period
The presence of a growing tech-savvy population, high internet penetration, and advances in AI has resulted in the growth of NLP solutions used in the finance sector. Most of the customers in North America have been leveraging NLP to improve their efficiency, reduce costs, and enhance the customer experience, ultimately leading to better business outcomes.
The rising popularity and higher reach of NLP further empower SMEs and startups in the region to harness NLP technology as a cost-effective and technologically advanced tool for building and promoting business, growing consumer base, and reaching out to a wider audience.
Ethics and Implications of NLP in Finance
NLP in Finance Tools and Framework
Case Study Analysis
Best Practices in Market
Technology Roadmap of NLP in Finance
Current and Emerging Business Models
NLP in Finance's Impact on Adjacent Niche Technologies
For more information about this report visit https://www.researchandmarkets.com/r/prvxqp
Research and Markets
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SOURCE Research and Markets
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