Ocean View, DE -- (SBWIRE) -- 06/09/2020 -- In a quest to fill the chasm between computer understanding and human communication, stakeholders in cloud NLP market are vying to augment the automation. Soaring traction towards cloud NLP has been spurred by palpable penetration of commercial applications in the market. An array of companies is shifting customer communications effort to automated chatbots.

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While media companies count on NLP to write news articles, online marketplaces are using it to spot fake reviews and social media companies use it to filter hateful content. As such, huge investments are predicted in cloud natural processing in the ensuing period. Moreover, demand for cloud NLP has surged across industries, including media and advertisement, IT & telecommunication, BFSI, healthcare, among others.

Key Companies in Cloud NLP Market: - 3M Company, Apple Inc., Amazon Web Services, Baidu Inc., Convergys Corporation, Digital Reasoning Systems Inc., Dolbey Systems Inc., Facebook Inc., Fuji Xerox, Google Inc., HP Enterprise, IBM Corporation, Interactions LLC, Lexalytics Inc., Microsoft Corporation, Netbase Solution, Nuance Communications, SAP SE, SAS Institute Inc., Verint Systems Inc.

In the current landscape, cloud NLP is highly sought-after in hospitals, daycare centers and diagnostics. It is widely believed that adoption of cloud NLP has seemingly streamlined pharmaceutical and healthcare industry. For instance, assimilation of transcriptions and sharp plunge in medication errors have become plausible after cloud NLP came to the fore.

North America has been one of the early adopters of cloud NLP in light of surging investments in big data, machine learning and deep learning. Companies such as Google and Amazon are foraying into IoT and cloud to provide state-of-the-art technology.

Mergers and acquisitions being witnessed in the region are anticipated to fuel cloud NLP market forecast. For instance, in March 2017, Google acquired Kaggle, an online community of machine learners and data scientists. Reportedly, Google has acquired minimum 270 companies over the last two decades.

The cut-throat competition prevailing in North America is likely to propel cloud NLP market share during the assessment period.

Palpable demand for machine learning has prompted cloud providers to develop natural language processing related services that will potentially cut infrastructure cost and lower the workload. As such, sophisticated features are wooing investors to pour money into AI. For instance, in 2017, over 300% upsurge in investment was apparently witnessed in artificial intelligence.

Of late, Google is expanding its footprint in industries such as Artificial Intelligence. Since 2012, the tech giant has acquired over 25 AI-based companies, while Apple has apparently acquired 8 AI start-ups in the last half-a-decade. It is viable to estimate that unprecedented investments witnessed in AI is likely to shape cloud NLP market trends.

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In a consolidated cloud NLP market, prominent companies such as IBM, Google and Microsoft are expected to hold major positions in the ecosystem. These companies are increasingly investing in smart devices and pushing to the limits to cash in on big data and IoT. The cut-throat competition has meant that companies adopt strategic business approach to propel cloud NLP market share. Besides, Amazon has made its presence felt in the industry by adopting big data and IoT. Through its launch of 22 services, incorporating machine learning, analysis and data storage, the e-commerce giant is expected to boost cloud NLP market revenue.

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