North America Natural Language Generation Market Size, Share & Trends Analysis Report By Enterprise Size (Large Enterprise and Small & Medium Enterprise (SME), By Application, By Solutions, By Deployment, By Vertical, By Country and Growth Forecast, 2024

North America Natural Language Generation Market Size, Share & Trends Analysis Report By Enterprise Size (Large Enterprise and Small & Medium Enterprise (SME), By Application, By Solutions, By Deployment, By Vertical, By Country and Growth Forecast, 2024 - 2031

The North America Natural Language Generation Market would witness market growth of 20.6% CAGR during the forecast period (2024-2031).

The US market dominated the North America Natural Language Generation Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $706.3 million by 2031. The Canada market is experiencing a CAGR of 23% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 22.1% during (2024 - 2031).

This technology finds applications across various industries, demonstrating its versatility and capability to address diverse needs. For instance, NLG automates the generation of complex financial reports, transforming raw data from spreadsheets into comprehensive summaries highlighting trends, variances, and forecasts, making it easier for stakeholders to grasp financial health quickly. NLG can streamline the creation of legal documents, such as contracts and briefs, by automatically populating templates with relevant data and legal jargon, reducing the time lawyers spend drafting and increasing accuracy.

Similarly, NLG systems generate tailored marketing messages based on individual customer data, including purchase history and browsing behavior, enabling companies to deliver personalized recommendations and promotional content at scale. NLG tools can create engaging posts and responses for social media platforms, helping brands maintain an active presence by automating content generation and ensuring timely interactions with followers.

The rapid expansion of the e-commerce sector in Mexico is significantly influencing this market as businesses increasingly seek to enhance customer engagement and optimize their operations. According to the International Trade Administration (ITA), the domestic e-commerce industry was valued at USD 26.2 billion in 2022, marking a substantial 23 percent increase from the previous year. The increasing investment in the healthcare sector in Canada is significantly impacting this market, presenting numerous opportunities for innovation and efficiency within the industry. According to the Government of Canada, a substantial investment of $196.1 billion over ten years has been allocated, including $46.2 billion in new funding to enhance healthcare services across provinces and territories. This financial commitment underscores a national priority to improve health outcomes, streamline processes, and ultimately enhance the patient experience. Thus, the expansion of Mexico’s e-commerce industry and significant investment in Canada’s healthcare sector present significant opportunities for the natural language generation market.

Based on Enterprise Size, the market is segmented into Large Enterprise and Small & Medium Enterprise (SME). Based on Application, the market is segmented into Risk & Compliance Management, Customer Experience Management, Fraud Detection & Anti-Money Laundering (AML), Predictive Maintenance, Performance Management, and Other Application. Based on Solutions, the market is segmented into Software and Service. Based on Deployment, the market is segmented into Cloud and On-premises. Based on Vertical, the market is segmented into Banking, Financial Services & Insurance, Manufacturing, Retail & Ecommerce, Government & Defense, Telecom & IT, Healthcare & Lifesciences, Energy & Utilities, Media & Entertainment, and Other Vertical. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

List of Key Companies Profiled

• IBM Corporation
• Microsoft Corporation
• Google LLC (Alphabet Inc.)
• Amazon Web Services, Inc. (Amazon.com, Inc.)
• SAS Institute Inc.
• Salesforce, Inc.
• Arria NLG Limited
• vPhrase
• Retresco GmbH
• Yseop

North America Natural Language Generation Market Report Segmentation

By Enterprise Size

• Large Enterprise
• Small & Medium Enterprise (SME)

By Application

• Risk & Compliance Management
• Customer Experience Management
• Fraud Detection & Anti-Money Laundering (AML)
• Predictive Maintenance
• Performance Management
• Other Application

By Solutions

• Software
• Service

By Deployment

• Cloud
• On-premises

By Vertical

• Banking, Financial Services & Insurance
• Manufacturing
• Retail & Ecommerce
• Government & Defense
• Telecom & IT
• Healthcare & Lifesciences
• Energy & Utilities
• Media & Entertainment
• Other Vertical

By Country

• US
• Canada
• Mexico
• Rest of North America