NLP in Finance Market Size Trends Forecast -p

NLP in Finance Market Size, Trends & Forecast - 2028

According to a
research report "NLP in Finance Market by Offering (Software, Services), Application (Customer
Service and Support, Risk Management and Fraud Detection, Sentiment Analysis),
Technology (Machine Learning, Deep Learning), Vertical and Region - Global
Forecast to 2028" published by
MarketsandMarkets, the NLP in Finance Market size is projected to
grow from USD 5.5 billion in 2023 to USD 18.8 billion by 2028 at a compound
annual growth rate (CAGR) of 27.6%.

The NLP in Finance
market is estimated to grow at a significant rate during the forecast period,
owing to various business drivers like rise in content creation and creative
applications, evolution in AI and Deep Learning, and innovation of cloud
storage enabling easy access to data. Furthermore, the acceleration in the
deployment of Large Language Models (LLMs) drives the market growth.

Browse in-depth TOC on "NLP in Finance
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By offering,
Services to register for the highest CAGR during the forecast period

The scope of the
services segment comprises professional and managed services. Services are
essential to the NLP in finance software life cycle, including product
upgradation, maintenance, training, and consulting. In the era of the digital
economy, enterprises are evolving and demanding new ways to improve their
 Return on Investment and business optimization. Vendors offer various
services in the NLP in finance market, such as support, maintenance, and
consulting, to execute and manage the life cycle.

By application, Risk
Management and Fraud Detection to register for the highest market size
during the forecast period

The use of NLP in
risk management and fraud detection has been increasing due to its benefits,
such as improved speed and accuracy of risk identification and more effective
fraud detection. By analyzing large volumes of data, NLP algorithms can
identify emerging risks that could impact financial markets. For example, NLP
can analyze news articles, social media posts, and other data sources to
identify emerging risks that could affect the industry.

By region, Asia
Pacific to account for highest growth rate during forecast period

The market in Asia
Pacific is expected to experience strong growth as its organizations are
rapidly adopting NLP solutions to meet the demands of their customers. The
competition in this region is fragmented, and market vendors are looking to
expand their presence in the region, which would result in infrastructure
improvement and business-strategic benefits. The market’s main growth drivers
are expanding the use of digital payments, the requirement to enhance customer
interaction and service, and the accessibility of cutting-edge NLP technology.

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Some major players
in the NLP in Finance market include Microsoft (US), IBM (US), Google (US), AWS
(US), Oracle (US), SAS Institute (US), Qualtrics (US), Baidu (China), Inbenta
(US), Basis Technology (US), Nuance Communications (US), Expert.ai (Italy).

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