Global Market Size of Natural Language Processing (NLP) – 10 Year Market Forecast

ICT

Natural Language Processing (NLP) Market Size Forecast 2022-2029

Natural language processing is a branch of linguistics, computer science, and AI associated with computer-human communication, particularly how to program computers to process and analyze large amounts of natural language data. We access it through website search bars, virtual assistants like Alexa, and our smartphone’s Siri. The spam folder in our email, phone voicemail transcripts, and even Google Translate are all examples of Natural Language Processing technology in action. The global Natural Language Processing (NLP) market is expected to grow at a compound annual growth rate (CAGR) of 16 % from USD 38.45 billion in 2022 to USD 105.95 billion by 2029.

Frequently Asked Questions(FAQ)

• What is Global Market Database

• The global market database is a cloud-based market research tool that studies the shift in line with changing market trends for the NLP market.
• How is feature extraction conducted in NLP?

• The first step taken is text-processing, which removes the punctuations. second step is creating a vocabulary for the given text, last step is to create a matrix of features, it is also known as text-vectorization.
• What does a NLP pipeline consist of?

• It consists of Text gathering, Text cleaning, Embedding and sentence representation, Model evaluation, Making adjustments to the model, Deployment of the model.
• What is Parsing in the context of NLP?

• Parsing a document entails determining the grammatical structure of sentences, such as which words belong together (as "groups") and which words are the verb's subject or object.
• Name of some popular models other than bag of words?

• Latent semantic indexing, word2vec, these are some other popular models.

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