North America Natural Language Understanding (nlu) Market Size & Outlook

The natural language understanding (nlu) market in North America is expected to reach a projected revenue of US$ 29,005.7 million by 2030. A compound annual growth rate of 20.8% is expected of North America natural language understanding (nlu) market from 2024 to 2030.
Revenue, 2023 (US$M)
$7,725.7
Forecast, 2030 (US$M)
$29,005.7
CAGR, 2024 - 2030
20.8%
Report Coverage
North America

North America natural language understanding (nlu) market, 2018-2030 (US$M)

North
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North America natural language understanding (nlu) market highlights

  • The North America natural language understanding (nlu) market generated a revenue of USD 7,725.7 million in 2023.
  • The market is expected to grow at a CAGR of 20.8% 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.


North America data book summary

Market revenue in 2023USD 7,725.7 million
Market revenue in 2030USD 29,005.7 million
Growth rate20.8% (CAGR from 2023 to 2030)
Largest segmentSolutions
Fastest growing segmentSolutions
Historical data covered2018 - 2022
Base year for estimation2023
Forecast period covered2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationSolutions


Other key industry trends

  • In terms of revenue, North America region accounted for 42.1% 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
Services
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

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North America natural language understanding (nlu) market

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