Europe Natural Language Understanding (nlu) Market Size & Outlook
The natural language understanding (nlu) market in Europe is expected to reach a projected revenue of US$ 17,139.7 million by 2030. A compound annual growth rate of 20.5% is expected of Europe natural language understanding (nlu) market from 2024 to 2030.
Revenue, 2023 (US$M)
$4,658.9
Forecast, 2030 (US$M)
$17,139.7
CAGR, 2024 - 2030
20.5%
Report Coverage
Europe
Europe natural language understanding (nlu) market, 2018-2030 (US$M)
Related Markets
Europe natural language understanding (nlu) market highlights
- The Europe natural language understanding (nlu) market generated a revenue of USD 4,658.9 million in 2023.
- The market is expected to grow at a CAGR of 20.5% from 2024 to 2030.
- In terms of segment, solutions was the largest revenue generating offering in 2023.
- Solutions is the most lucrative offering segment registering the fastest growth during the forecast period.
Europe data book summary
| Market revenue in 2023 | USD 4,658.9 million |
| Market revenue in 2030 | USD 17,139.7 million |
| Growth rate | 20.5% (CAGR from 2023 to 2030) |
| Largest segment | Solutions |
| Fastest growing segment | Solutions |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solutions |
Other key industry trends
- In terms of revenue, Europe region accounted for 25.4% of the global natural language understanding (nlu) market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 15,162.1 million by 2030.
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Natural Language Understanding (NLU) Market Scope
Natural language understanding (nlu) market segmentation & scope
Type
Rule-Based
Statistical
Hybrid
Application
Chatbots & Virtual Assistants
Sentiment Analysis
Text Analysis
Customer Experience Management (CXM)
Data Capture
Others
End Use
Retail & E-commerce
Healthcare & Life Sciences
BFSI
IT & Telecommunications
Media & Entertainment
Others
Countries
Canada
Mexico
U.S.
France
Germany
UK
Australia
China
India
Japan
South Korea
Brazil
Saudi Arabia
South Africa
UAE
Natural Language Understanding (NLU) Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Europe natural language understanding (nlu) market
Related regional statistics
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