Text Analytics Based Cloud NLP Market Share

North American Market Forecasts

The text analytics based cloud NLP market in North America region is set to hold the largest market share of 35% during the assessment period. The market of North America text analytics based cloud NLP is driven by U.S. and Canada, where U.S. held the largest market share on the back of presence of major service providers in the nation coupled with the rapid technological advancements as well as rising demand for better customer experience in the region. Growing demand for technologies such as AI and machine learning in the region drives the growth of market. In addition, innovation in the region leads to increased growth of the text analytics based cloud natural language processing sector as a result of the growing presence of key market participants in the United States. In addition, technologies such as AI, machine learning and natural language processing are increasingly being encouraged by local authorities to enable market players to grow their presence in the region. The value of the United States' artificial intelligence space is estimated to reach USD 299.64 billion in 2026.

Europe Market Statistics

The Europe market is set to grow significantly by the end of 2036. The text analytics based cloud NLP market in Europe is growing on the back of rising preference for text analytics based cloud NLP amongst the customers in the region, followed by growing acceptance of the technology. Furthermore, Europe businesses are placing a higher emphasis on enhancing customer experience to retain customers and gain a competitive edge.