Bharat Book Bureau Provides the Trending Market Research Report on “NLP in Education Market by Offering (Solutions and Services), Model Type (Rule-based, Statistical, and Hybrid), Application (Sentiment Analysis & Data Extraction, Intelligent Tutoring & Langauge Learning), End User and Region - Global Forecast to 2028” under the Services Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
The global NLP in Education Market size is projected to grow from USD 99 million in 2023 to USD 228 million by 2028, at a Compound Annual Growth Rate (CAGR) of 18.1%. With the advent of predictive analytics and machine language, organizations can amplify their outcomes with predictive models based on customer data, such as purchasing patterns, support feedback, and social media sentiment. Enterprises across the globe are deploying NLP in education solutions with predictive analytic capabilities for multiple use cases, such as sentiment analysis, email spam detection, and text mining.
Image-based NLP solutions segment to grow at highest CAGR during forecast period
Based on solutions, the NLP in education market is further subsegmented into text-based NLP solutions, audio-based, image-based, and video-based. Among these subsegments, the image-based NLP solutions sub-segment is expected to grow at the highest CAGR during the forecast period. This growth is attributed to the rise in demand for optical character recognition (OCR) tools, image captioning tools, and image recognition tools in the education industry. Image-based NLP solutions have the potential to significantly enhance the learning experience for students and improve the efficiency and effectiveness of education delivery.
Hybrid NLP model to grow at highest CAGR during forecast period.
Based on model type, the NLP in education market is classified into Rule-based, Statistical, and Hybrid. Among these, the hybrid NLP model is expected to grow at the highest growth rate during 2023–2028. The use of a hybrid NLP model can help improve the quality of education, increase student engagement, and reduce teachers’ workload, leading to a more efficient and effective education system. Major advantages of the hybrid NLP model are improved student engagement, personalized learning, automated grading and feedback, language translation, and improved accessibility.
North America to record highest market share
North America is home to advanced economies like the US and Canada. These nations were among the first to use Al. The United States and Canada are ranked fourth and sixth globally for government Al preparation in Oxford’s 2019 Government Artificial Intelligence Readiness Index, making North America a very competitive Al region. Al has been designated as a national policy priority in both nations. Companies in this region have used AI, ML, and deep learning technology as part of ongoing business processes to remain ahead of the competition, particularly in the US. Al-based technologies in customer support, whether used or not, provide firms that primarily provide call center services with a considerable cash gain.
Breakdown of primaries
The study contains insights from various industry experts, ranging from solution vendors to Tier 1 companies.
The break-up of the primaries is as follows:
•By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
•By Designation: C-level – 32%, Directors – 30%, and Others – 38%
•By Region: North America – 40, Europe – 15%, Asia Pacific – 35%, Middle East & Africa – 5%, and Latin America – 5%
This research study outlines the market potential, market dynamics, and major vendors operating in the NLP in education market. Key and innovative vendors in the NLP in education market include IBM (US), Microsoft (US), Google (US), AWS (US), SAS Institute (US), Inbenta (US), Baidu (China), Welocalize (US), Yellow.ai (US), NICE (US), ABBYY (US), Automated Insights (US), Width.ai (US), Revolve.ai (Islamabad), Primer.ai (US), Carnegie Learning (US), Gecko (US), Ivy.ai (US), Attivio (US), Conversica (US), Avaamo (US), Aylien (Ireland), Haptik (India), Gupshup (US), Sensforth.ai (US), Chivox (China), and Cognii (US). These vendors have adopted many organic as well as inorganic growth strategies, such as product launches, partnerships, and collaborations, to expand their offerings and market shares in the NLP in education market.
Research Coverage
The market study covers the NLP in education market across different segments. It aims at estimating the market size and the growth potential across different segments based on component, approach type, processing type, end-user, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the global NLP in education market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
•Analysis of key drivers (rising demand for efficient language learning, greater urge for predictive analytics to reduce risks and identify growth opportunities, and evolution of AI), restraints (limited data availability and risks associated with data breaches and sensitive information leakage), opportunities (increase in adoption of learning analytics and surge in the development of big data technology for actionable business intelligence), and challenges (increasing requirement for customization and regulatory and privacy concerns over data security) influencing the growth of the NLP in education market.
•Product Development/Innovation: Detailed insights on coming technologies, R&D activities, and product & service launches in the NLP in education market.
•Market Development: Comprehensive information about lucrative markets – the report analyses the NLP in education market across varied regions.
•Market Diversification: Exhaustive information about products & services, untapped geographies, recent developments, and investments in the NLP in education market.
•Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like IBM (US), Microsoft (US), Google (US), AWS (US), SAS Institute (US), Inbenta (US), Baidu (China), Welocalize (US), Yellow.ai (US), NICE (US), ABBYY (US), Automated Insights (US), Width.ai (US), Revolve.ai (Islamabad), Primer.ai (US), Carnegie Learning (US), Gecko (US), Ivy.ai (US), Attivio (US), Conversica (US), Avaamo (US), Aylien (Ireland), Haptik (India), Gupshup (US), Sensforth.ai (US), Chivox (China), and Cognii (US).
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