Natural Language Processing Market Size

Citation Author(s):
Mordor Intelligence Research & Advisory
Mordor Intelligence Research & Advisory
Submitted by:
Amir Jabari
Last updated:
Sat, 07/06/2024 - 06:20
DOI:
10.21227/6ahx-qt96
License:
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Abstract 

As shown in the figure 1, the NLP market is projected to grow from USD 31.76 billion in 2024 to USD 92.99 billion by 2029. This growth is driven by advances in deep learning and algorithms, increased digitization, and the integration of NLP with machine learning and deep learning. Key factors contributing to this expansion include the increasing use of NLP in healthcare and call centers, the demand for advanced text analytics, and growing machine-to-machine technology. During the COVID-19 pandemic, NLP proved particularly valuable in healthcare, with initiatives like the CORD-19 dataset supporting global research efforts against the virus [37].

Instructions: 

As shown in the figure 1, the NLP market is projected to grow from USD 31.76 billion in 2024 to USD 92.99 billion by 2029. This growth is driven by advances in deep learning and algorithms, increased digitization, and the integration of NLP with machine learning and deep learning. Key factors contributing to this expansion include the increasing use of NLP in healthcare and call centers, the demand for advanced text analytics, and growing machine-to-machine technology. During the COVID-19 pandemic, NLP proved particularly valuable in healthcare, with initiatives like the CORD-19 dataset supporting global research efforts against the virus [37].

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Submitted by Nitish Kumar on Sat, 07/06/2024 - 15:17

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