PUBLISHER: The Business Research Company | PRODUCT CODE: 1455506
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455506
Natural Language Processing (NLP) in Finance refers to the utilization of language understanding and processing techniques within the financial domain. This involves leveraging computational algorithms to analyze, interpret, and extract insights from textual data in the financial sector. NLP in finance enables the automation of tasks such as information extraction, sentiment analysis, and language translation, contributing to more efficient and informed decision-making processes within the financial industry.
The primary offerings in the realm of NLP in finance consist of services and software. Services can be defined as acts or utilities for which consumers, firms, or governments are willing to pay. Various technologies are employed in NLP applications, including machine learning, deep learning, natural language generation, text classification, topic modeling, emotion detection, and other related technologies. These technologies find applications across various verticals, including banking, insurance, financial services, and other enterprise sectors. The integration of NLP technologies in finance facilitates advanced analysis and decision-making processes by extracting valuable insights from textual data.
The NLP in finance market research report is one of a series of new reports from The Business Research Company that provides NLP in finance market statistics, including the NLP in finance industry global market size, regional shares, competitors with an NLP in finance market share, detailed NLP in finance market segments, market trends and opportunities, and any further data you may need to thrive in the NLP in finance industry. This NLP in finance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The nlp in finance market size has grown exponentially in recent years. It will grow from $5.34 billion in 2023 to $6.65 billion in 2024 at a compound annual growth rate (CAGR) of 24.3%. The growth observed in the historical period can be attributed to several factors, including the rise in content creation, evolution in artificial intelligence (AI) and deep learning technologies, acceleration in the deployment of large language models (LLMs), and the enhanced customer experiences facilitated by these advancements. Additionally, the application of sentiment analysis in the finance industry has played a significant role in leveraging natural language processing (NLP) to gain insights from textual data, contributing to informed decision-making and improved customer engagement.
The nlp in finance market size is expected to see exponential growth in the next few years. It will grow to $16.14 billion in 2028 at a compound annual growth rate (CAGR) of 24.8%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing adoption of artificial intelligence (AI), a growing demand for automated and efficient financial services, the emergence of AI and machine learning (ML) models in the financial domain, heightened focus on data extraction and analysis, and the increasing emphasis on fraud detection and security measures. Major trends expected in this period include the innovation of cloud storage solutions, continuous product innovations within the NLP in finance sector, ongoing technological advancements, and a rise in collaborations among industry players to drive further advancements in natural language processing applications within the financial domain.
The increasing adoption of Artificial Intelligence (AI) is poised to drive the growth of the Natural Language Processing (NLP) in the finance market. AI, which involves replicating human intelligence in machines, is becoming integral to various industries, including finance. AI-powered NLP plays a crucial role in financial institutions by enabling them to extract valuable insights from extensive textual data sources such as news articles, financial reports, and social media content. This facilitates efficient analysis and empowers financial professionals to make informed decisions. According to the Government Digital Service in January 2022, the adoption rate of AI rose to 22.7% in 2025 from 15.1% in 2020, with 267,000 more companies implementing AI in their daily operations. This increasing adoption of AI is a key driver propelling the growth of the NLP in the finance market.
Leading companies in the NLP in the finance market are actively developing innovative technologies, including leveraging AI technologies to enhance customer service with advanced features. AI technology, designed to enable computer systems to perform tasks that typically require human intelligence, is being harnessed to transform the financial services landscape. In May 2023, HSBC, a UK-based banking and financial services company, launched AI Markets, a digital service utilizing purpose-built NLP to enhance institutional investors' engagement with international markets. The proprietary NLP engine within AI Markets enables users to create personalized financial market analytics, access up-to-the-minute and historical cross-asset data sets from HSBC, and explore the latest market insights through simple commands.
In March 2023, Microsoft Corporation, a US-based technology corporation, acquired Nuance Communications Inc. for $19.7 billion. This acquisition presents opportunities to integrate Nuance's advanced NLP and speech recognition capabilities into various financial services, potentially enhancing customer experiences, security measures, data analysis, and overall innovation within the finance market. Nuance Communications Inc. is a US-based computer software technology corporation specializing in AI applications in the field of financial services.
Major companies operating in the nlp in finance market report are Google LLC, Microsoft Corporation, Amazon Web Services Inc., IBM Corporation, Oracle Corporation, Mosaic, Baidu, SAS Institute, Qualtrics, LivePerson, NuanceCommunications, Veritone, Basis Technology, Uniphore, Expert.ai, Bitext, ABBYY, Automated Insights, Conversica, Skit.ai, Kensho, Kasisto, Inbenta, Observe.Al, Addepto, Accern
North America was the largest region in the nlp in finance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nlp in finance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the NLP in finance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The NLP in finance market includes revenues earned by entities by dataset analyzing, recognizing trends, customer interaction analyzing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The NLP in finance market consists of sales of central processing units (CPUs), graphics processing units (GPUs), and application-specific integrated circuits (ASICs). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
NLP in Finance Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on nlp in finance market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for nlp in finance ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The nlp in finance market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.