Middle East & Africa Natural Language Understanding (nlu) Market Size & Outlook
The natural language understanding (nlu) market in Middle East & Africa is expected to reach a projected revenue of US$ 1,977.7 million by 2030. A compound annual growth rate of 11.2% is expected of Middle East & Africa natural language understanding (nlu) market from 2024 to 2030.
Revenue, 2023 (US$M)
$942.8
Forecast, 2030 (US$M)
$1,977.7
CAGR, 2024 - 2030
11.2%
Report Coverage
Middle East & Africa
Middle East & Africa natural language understanding (nlu) market, 2018-2030 (US$M)
Related Markets
MEA natural language understanding (nlu) market highlights
- The MEA natural language understanding (nlu) market generated a revenue of USD 942.8 million in 2023.
- The market is expected to grow at a CAGR of 11.2% 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.
MEA data book summary
| Market revenue in 2023 | USD 942.8 million |
| Market revenue in 2030 | USD 1,977.7 million |
| Growth rate | 11.2% (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, MEA region accounted for 5.1% 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 |
|---|
Middle East & Africa natural language understanding (nlu) market
Related regional statistics
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