The Natural Language Processing (NLP) Market offers solutions and services, featuring rule-based, statistical, and hybrid types.
The global Natural Language Processing (NLP) market reached USD 24.10 billion in 2023, set to rise to USD 158.04 billion by 2032, with a 23.2% CAGR. NLP combines rule-based computational modeling with machine learning, statistical, and deep learning models. Key players like Hewlett Packard Enterprise Development LP, Amazon.com, Inc., and Google, LLC (Alphabet) offer NLP applications such as speech recognition, sentiment analysis, and virtual agents. NLP facilitates intelligent system operations, including interactive voice response (IVR) and optical character recognition (OCR), vital for digital transformation across industries. Advanced NLP technology development focuses on healthcare and automotive sectors, driving market growth.
