Natural Language Generation (NLG)

Natural Language Generation (NLG)

Global Natural Language Generation (NLG) Market to Reach US$1.3 Billion by 2030

The global market for Natural Language Generation (NLG) estimated at US$579.4 Million in the year 2023, is expected to reach US$1.3 Billion by 2030, growing at a CAGR of 12.7% over the analysis period 2023-2030. Software Component, one of the segments analyzed in the report, is expected to record a 11.5% CAGR and reach US$862.9 Million by the end of the analysis period. Growth in the Services Component segment is estimated at 15.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$156.4 Million While China is Forecast to Grow at 17.2% CAGR

The Natural Language Generation (NLG) market in the U.S. is estimated at US$156.4 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$306.1 Million by the year 2030 trailing a CAGR of 17.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 9.3% and 10.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.9% CAGR.

Global Natural Language Generation (NLG) Market - Key Trends and Drivers Summarized

How Is Natural Language Generation (NLG) Transforming Data Analysis and Content Creation?

Natural Language Generation (NLG) is an artificial intelligence technology that converts structured data into human-readable text. NLG is increasingly used in various sectors, including finance, healthcare, customer service, and marketing, where it helps automate the creation of reports, summaries, and customer interactions. By using algorithms to analyze large datasets and generate narratives, NLG allows organizations to make data-driven insights more accessible. This technology is particularly impactful in industries where there is a need to convert data into plain language for decision-making, thereby streamlining operations and enhancing efficiency.

What Are the Key Trends Shaping the NLG Market?

Several trends are accelerating the adoption of NLG technology, such as the increasing focus on data democratization and automation. As companies gather massive amounts of data, there is a growing need for tools that can quickly transform this information into actionable insights. NLG is also becoming integral to personalized content creation, particularly in marketing, where it is used to generate customized messages for different audience segments. Integration with other AI technologies, such as Natural Language Processing (NLP) and Machine Learning (ML), is enhancing NLG`s capabilities, making it a more powerful tool for real-time data analysis.

Which Segments Are Leading in the Adoption of NLG Technology?

Software solutions dominate the market, as many companies seek to integrate NLG capabilities into their existing data analytics platforms. Financial services, healthcare, and retail are the leading industries adopting NLG due to their reliance on data-driven decision-making. In terms of applications, content automation and business intelligence reporting are the most prevalent, with NLG being used to generate reports, performance summaries, and insights. North America is the leading market, driven by strong technology adoption, while Europe and Asia-Pacific are rapidly catching up.

What Factors Are Driving the Growth in the Natural Language Generation (NLG) Market?

The growth in the NLG market is driven by several factors, including the increasing emphasis on data-driven decision-making across industries. The need for automation in content creation to reduce manual efforts and improve efficiency is a significant driver. The integration of NLG with other AI technologies such as NLP and predictive analytics is expanding its use cases. Additionally, the rising adoption of AI in business intelligence and analytics is creating opportunities for NLG technology to gain a foothold in various sectors. Regulatory requirements for transparent and accessible data reporting are also fostering market growth.

Select Competitors (Total 12 Featured) -

• 2txt - Natural Language Generation GmbH.
• Arria NLG
• Artificial Solutions
• Automated Insights
• AWS
• AX Semantics
• CoGenTex
• Conversica
• IBM
• Linguastat
• Narrativa
• Narrative Science
• NarrativeWave
• NewsRx
• Phrasee
• Phrasetech
• Retresco
• Textual Relations
• vPhrase
• Yseop

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