Natural Language Processing Market - Significantly Driven by the Massive Jump in Digital Data

Natural language processing (NLP) is a computer application under artificial intelligence that can understand human language. This computerized technique allows human communication to be analyzed and interpreted by the computer on the basis of a set of technologies and theories.

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The global market for natural language processing is significantly driven by the massive jump in digital data, the rise in the utility of smart devices, and the increasing demand for enhanced customer experience. In addition to this, the surging investments in the healthcare sector and the emergence of several new application areas are anticipated to further boost the natural language processing market.

The market, however, is faced by a number of challenges that players need to overcome in order to survive and compete. The main hurdles include the need for effective predictive technologies, the need to narrow the gap between machine and man, the implementation of strict government regulations, and fluctuating customer adoption trends.

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Recognition technologies are the most widely used technologies in NLP. Most companies, from large enterprises to small-scale organizations, use some form of recognition technology such as optical character recognition, interactive voice recognition, or image recognition.

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