The emergence of Transformer-based Large Language Models (LLMs) has substantially augmented the capabilities of Natural Language Processing (NLP), thereby intensifying the demand for computational resources. Therefore, enhancing efficiency based on factors like computational requirements, energy consumption, carbon footprint and financial cost has become a vital area of research. This motivates us to conduct a survey on Transformer-based LLMs in NLP from the perspective of efficiency. In this survey of 312 articles, the efficiency-improvement endeavors have been systematically discussed targeting various aspects such as data curation, model design, model downsizing, and dynamic inferencing. This has been augmented with efficiency considerations in model adaptation strategies like pre-training, fine-tuning, prompt-engineering and Retrieval-Augmented Generation (RAG). Furthermore, a statistical analysis followed by an in-depth evaluation of the efficiency and efficacy of more than 30 renowned NLP models has been performed on 13 evaluation benchmarks. This paper offers valuable insights for researchers, professionals as well as scholars, and explores the trend of research toward sustainable practices in NLP.

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