NLP in Finance Market Size Worth $47.92 Billion By 2032 | CAGR: 27.50%

NLP in Finance Market Size Worth $47.92 Billion By 2032 | CAGR: 27.50%


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, 2024 - 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.

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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

NLP in Finance Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 6.87 billion

Revenue forecast in 2032

USD 47.92 billion

CAGR

27.50% from 2024 - 2032

Base year

2023

Historical data

2019 - 2022

Forecast period

2024 - 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By offering, By Application, By Technology, By Vertical, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

IBM, Google, Microsoft, Intel, Amazon, NVIDIA, Facebook, Apple, SAP, Nuance Communications, Digital Reasoning Systems, Ayasdi, Lexalytics, 3DiVi, Yseop, Verint Systems, Numenta, IPsoft, Mindbreeze, Expert System, Pragmatic Works, RapidMiner, Trooclick, Luminoso Technologies, Veritone, Algoworks Technologies, Bitext Innovations, Meya.ai, OpenText, KAI, Textkernel, Attivio, Squirro,SparkCognition, Idibon, NLP Logix, Megvii Technologies, DigitalGenius, Smartlogic Semaphore & Basis Technology.

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