Natural Language Processing: 5 Key Insights You Need to Know

The global demand for Natural Language Processing (NLP) is skyrocketing. In 2022, the NLP market was valued at around $27.73 billion. With an expected annual growth rate of 40.4%, it could reach over $140 billion by 2033. Some estimates even suggest a potential market value of $239.9 billion by 2032, growing at a CAGR of 31.3%.

Why is this happening? NLP plays a vital role in modern technology, making everyday interactions with devices smarter and more intuitive. As its applications expand, businesses and individuals rely on NLP to simplify communication and process information faster. With such rapid growth, NLP has become a cornerstone of the digital world, shaping how we use technology daily.