Newark, NJ, May 25, 2022 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, The global natural language processing (NLP) market is expected to grow from USD 10.34 billion in 2019 to USD 48.46 billion by 2027, at a CAGR of 21.3% during the forecast period 2020-2027. North America holds the largest market share. The increasing usage of NLP in end-user industries is responsible for the growing demand of the product. The high rate of adoption of advance technologies and developments in infrastructure are the primary reasons responsible for the market growth. Asia-Pacific is expected to grow at a lucrative rate owing to the growing use of AI and ML technologies in the region.
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Key players in the natural language processing (NLP) market are Alphabet Inc., IBM Corporation, Amazon Web Services Inc., 3M Company, Microsoft Corporation, Apple Inc., Dolbey Systems, Inc., Veritone Inc., Facebook Inc., Health Fidelity Inc., SAS Institute Inc., Intel Corporation, Linguamatics Ltd., Bitext Innovations, Conversica Inc., Automated Insights Inc., Narrative Science, Inbenta Technologies Inc., SparkCognition and others. In October 2019, Facebook AI released a dataset which had coding questions along with the code snippet answers, which will be interpreting code search systems.
The deployment mode segment includes on-premise and cloud. Cloud segment holds the largest market share owing to…
