Lucintel's latest market report analyzed that natural language processing (NLP) technology in the global artificial intelligence provides attractive opportunities in the BFSI, IT & telecom, retail and ecommerce, healthcare and life science, transportation & logistic, government & public sector, media & entertainment, and manufacturing end use industries. The natural language processing (NLP) technology in the global artificial intelligence market is expected to reach $7.3 billion by 2028 with a CAGR of 15.9%. In this market, on-premise is the largest segment by deployment, whereas BFSI is largest by end use industry.
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Based on deployment, the natural language processing (NLP) technology in the global artificial intelligence market is segmented into on-premises and cloud. The on-premise segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to because it ensures full control, visibility, and authentication security controls over data.
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The Natural language processing (NLP) technology in the global artificial intelligence Market is marked by the presence of several big and small players. Some of the prominent players offering natural language processing (NLP) technology in the global artificial intelligence include 3M, Apple, AWS, Baidu, Google LLC, IBM Corporation, Meta, Microsoft, Oracle, Inbenta, and IQVIA.
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