NLP in Finance Market Share, Size, Trends, Industry Analysis Report, By Offering (Software, Services); By Application; By Technology (Machine Learning, Rule-Based, Hybrid); By Vertical; By Region; Segment Forecast, 2023 - 2032

NLP in Finance Market Share, Size, Trends, Industry Analysis Report, By Offering (Software, Services); By Application; By Technology (Machine Learning, Rule-Based, Hybrid); By Vertical; By Region; Segment Forecast, 2023 - 2032

The global NLP in finance market size is expected to reach USD 47.92 billion by 2032, according to a new study by Polaris Market Research. The report “NLP in Finance Market Share, Size, Trends, Industry Analysis Report, By Offering (Software, Services); By Application; By Technology (Machine Learning, Rule-Based, Hybrid); By Vertical; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The significant rise in payment frauds, amounting to over Rs 800 crore, during the fourth quarter ended March 2023, as reported by the Reserve Bank of India, is a compelling driving factor fueling the growth of NLP in the finance market. Financial institutions are increasingly recognizing the urgent need to combat such fraudulent activities and are turning to NLP technology for effective solutions. By leveraging NLP algorithms, these institutions can analyze and interpret vast volumes of textual data, including fraud reports and transaction records, to detect patterns, anomalies, and suspicious behaviors. This proactive approach facilitated by NLP empowers financial organizations to enhance their fraud detection capabilities, mitigate risks, and protect their customers' financial assets.

According to International Data Corporation (IDC), From 2022 to 2026, the size of the Global DataSphere is anticipated too more than double. This expansion signifies the increasing volume of data being generated worldwide, leading to a demand for NLP technology to efficiently process, analyze, and extract insights from this vast amount of data. The growth of the Global DataSphere fuels the adoption of NLP in finance, enabling data-driven decision-making, customer understanding and personalization, and enhanced risk management and compliance. This will further fuel the growth of the market in coming years.

NLP in Finance Market Report Highlights

Service segment is anticipated to witness faster growth in the coming years due to the increasing demand for system integration.

Fraud Detection & Prevention segment accounted for the larger market share owing to the growing fraudulent activities.

Machine learning segment is expected to have higher growth due to increasing availability of unstructured data and the need for real-time insights.

Banking segment is projected to experience a larger revenue share due to the increasing need to extract meaningful insights from unstructured data.

Asia Pacific is projected to register a higher growth rate in the study period owing to increasing adoption of digital banking.

North America is expected to grow larger revenue share owing to the growing investments by the fintech companies.

The global players include IBM, Google, Microsoft, Intel, Amazon, NVIDIA, Facebook, Apple, SAP, Nuance Communications, Megvii Technologies, DigitalGenius, Smartlogic Semaphore & Basis Technology.

Polaris Market Research has segmented the NLP in finance market report based on offering, application, technology, vertical and region:

NLP in Finance, Offering Outlook (Revenue - USD Billion, 2019 - 2032)

Software

Rule-based NLP Software

Regular Expression (Regex)

Finite State Machines (FSMs)

Named Entity Recognition (NER)

Part-of-speech (POS) Tagging

Statistical NLP Software

Naive Bayes

Logistic Regression

Support Vector Machines (SVMs)

Recurrent Neural Networks (RNNs),

Hybrid NLP software

Latent Dirichlet Allocation (LDA) • Hidden Markov Models (HMMs)

Conditional Random Fields (CRFs)

Services

Professional Services

Training and Consulting

System Integration and Implementation

Support and Maintenance

Managed Services

NLP in Finance, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Sentiment Analysis

Brand Monitoring

Customer Feedback Analysis

Brand Reputation Management

Customer Service & Support

Chatbots

Interactive Voice Response (IVR)

Email Response

Fraud Detection & Prevention

Payment Fraud Detection

Account Takeover Detection

Identity Theft Detection

Risk Management

Credit Risk Analysis

Market Risk Analysis

Operational Risk Analysis

Others (e.g., Trading, Compliance)

Algorithmic Trading

Trade Surveillance

Regulatory Compliance

NLP in Finance, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

Machine Learning

Natural Language Processing (NLP) Algorithms

Deep Learning Algorithms

Others (e.g., Random Forest, SVM)

Rule-Based

Pattern Matching

Keyword-Based

Hybrid (Combination of Machine Learning and Rule-Based)

Supervised Machine Learning

Semi-Supervised Machine Learning

NLP in Finance, Vertical Outlook (Revenue - USD Billion, 2019 - 2032)

Banking

Retail Banking

Corporate Banking

Investment Banking

Insurance

Life Insurance

Property & Casualty Insurance

Investment & Wealth Management

Asset Management

Wealth Management

Others (e.g., Accounting, Financial Planning)

Accounting & Bookkeeping

Financial Planning & Analysis to

NLP in Finance, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa