What is the purpose of NumberFormat in Java?

The NumberFormat class is used for formatting numbers. It offers various methods to format numbers according to different languages and regions. The NumberFormat class can be utilized for the following purposes:

1. The format() method of the NumberFormat class can convert a number into a formatted string, allowing for customization of decimal places, thousand separators, and more.
2. Parse a string into a number: The parse() method of the NumberFormat class can convert a string into a number, including converting strings with thousand separators into numbers.
3. NumberFormat class provides methods for formatting currency, allowing for the display of currency symbols, decimal places, and other options based on different regions.
4. NumberFormat class offers methods to format percentages, converting decimals into percentage form and allowing for customization of decimal places.

By using the NumberFormat class, it is easy to format and parse numbers to meet different display requirements.