Home > Media & Technology > Next Generation Technologies > AI and Machine Learning > Natural Language Processing in Finance Market

Natural Language Processing in Finance Market Share

Report ID: GMI10488
Published Date: Jul 2024
Report Format: PDF

Download Free Sample

Natural Language Processing in Finance Market Share

Google LLC & Microsoft Corporation held over 15% share of the NLP in finance industry in 2023. Google LLC is known for its great capabilities in AI and ML domain. Google Cloud's AI and ML services, leverages NLP platform in understanding users’ sentiment analysis, which enables the financial firms to extract actionable insights from unstructured data sources such as customer communications, market news, and regulatory filings.

Microsoft Corporation plays a vital role in the NLP as it offers Microsoft Azure, a suite of helpful services that include NLP capabilities such as text analytics, language understanding, and sentiment analysis. The Microsoft Bot structure facilitates the development and deployment of AI-powered chatbots & virtual assistants. In the finance sector, these chatbots take the help of NLP to understand & quickly respond to customer inquiries, provide account information, offer personalized financial advice, and assist with transactional activities.

Natural Language Processing in Finance Companies Share

Major players operating in the NLP in finance industry are:

Google LLC
Microsoft Corporation
IBM Corporation
Amazon Web Services, Inc.
SAS Institute Inc.
Uniphore Technologies Inc.
Veritone, Inc.

Authors: Suraj Gujar , Saptadeep Das

Frequently Asked Questions (FAQ) :

The market size of natural language processing in finance reached USD 5.5 billion in 2023 and is set to register over 25% CAGR from 2024 to 2032, owing to the growing advancements in Artificial Intelligence (AI) and Machine Learning (ML) for NLP in the finance market worldwide.

Natural language processing in finance industry from the services segment is expected to register over 20% CAGR from 2024-2032, due to service providers using advanced analytics capabilities adhering with NLP solutions to provide deeper insights into financial data.

Asia Pacific market is expected to reach USD 10 billion by 2032, due to growing usage of AI-powered resources and tools in financial institutions in the region.

Google LLC, Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc., SAS Institute Inc., Uniphore Technologies Inc., and Veritone, Inc., are some of the major natural language processing in finance companies worldwide.