Dublin, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
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%
The report functions as a valuable asset for both established market leaders and emerging entrants, providing approximate revenue estimations for the global NLP in education market and its associated subsectors.
It imparts valuable insights to stakeholders, aiding them in grasping the competitive landscape and facilitating well-informed decisions to craft effective go-to-market strategies. Additionally, the report fosters a deeper comprehension of the market's dynamics by furnishing details regarding primary drivers, constraints, impediments, and prospects.
The amalgamation of predictive analytics and machine learning has empowered organizations to elevate their performance by fashioning predictive models grounded in customer data encompassing purchase patterns, support feedback, and sentiment extracted from social media. Enterprises on a global scale are embracing NLP in education solutions endowed with predictive analytics capabilities, catering to diverse applications like sentiment analysis, detection of email spam, and mining of textual data.
North America, characterized by advanced economies such as the United States and Canada, stands as a pioneer in the adoption of AI. Both countries occupy prominent positions in the Government Artificial Intelligence Readiness Index, solidifying North America's stature as a fiercely competitive AI hub.
AI has been accorded national policy prominence in these nations, prompting companies within the region to harness AI, ML, and deep learning technologies to gain a competitive edge, particularly in the United States. AI-driven tools in customer support offer substantial cost advantages, particularly to firms predominantly engaged in call center services.
Key market players have actively pursued an array of growth strategies, encompassing both organic and inorganic approaches such as product launches, strategic partnerships, and collaborative ventures, aimed at expanding their product portfolios and augmenting their market shares within the NLP in education domain.
The report conducts a comprehensive evaluation of market shares, growth strategies, and service offerings of leading players including 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).
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.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 252 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $99 Million |
| Forecasted Market Value (USD) by 2028 | $228 Million |
| Compound Annual Growth Rate | 18.1% |
| Regions Covered | Global |
Premium Insights
- Increased Adoption of Learning Analytics to Foster Market Growth
- Solutions Segment and US to Lead North American Market in 2023
- Solutions Segment and China to Lead Asia-Pacific Market in 2023
- Japan to be the Fastest-Growing Market During Forecast Period
Case Study Analysis
- Case Study 1: NLP Legal Clause Rewriter Built by Width.AI Improves Clause Clarity
- Case Study 2: Observe.AI Built NLP-based Learning Program for Fortune 500 Education Company
Market Dynamics
Drivers
- Rising Demand for Efficient Language Learning
- Increasing Adoption of Predictive Analytics to Provide Targeted Support to Students at Risks
- Evolution of AI and Deep Learning
Restraints
- Limited Availability of Educational Data Impacts Efficiency of NLP Models
- Risks Associated with Data Breaches and Sensitive Information Leakage
Opportunities
- Growing Adoption of NLP to Assess Student Performance
- Soaring Demand for Personalized Learning
- Significant R&D Activities by Market Vendors
Challenges
- Developing Customized NLP Solutions
- Regulatory and Privacy Concerns Over Data Security
Regulatory Landscape
- General Data Protection Regulation
- Personal Information Protection and Electronic Documents Act
- Cloud Security Alliance Security Trust Assurance and Risk
- California Consumer Privacy Act
- Patent Analysis
Ethics and Implications of NLP in Education
- Bias and Fairness
- Privacy and Security
- Intellectual Property
- Accountability and Responsibility
- Societal and Economic Impact
- Brief History of NLP Technology
Impact of Niche, Adjacent Technologies on Market
- Artificial Intelligence
- Internet of Things (IoT)
- Augmented Reality (Ar)/Virtual Reality (Vr)
- Cloud
- Cybersecurity
Technology Roadmap for NLP in Education
- Short-Term Roadmap (2023-2025)
- Mid-Term Roadmap (2026-2028)
- Long-Term Roadmap (2029-2030)
Current and Emerging Business Models
- Software as a Service (SaaS) Model
- Consulting Services Model
- Revenue Sharing Model
- Pay-Per-Use Model
Company Profiles
- IBM
- Microsoft
- Amazon Web Services (Aws)
- Sas Institute
- Inbenta
- Baidu
- Welocalize
- Yellow.AI
- Nice
- Abbyy
- Automated Insights
- Width.AI
- Revolve.AI
- Primer.AI
- Carnegie Learning
- Gecko
- Ivy.AI
- Attivio
- Conversica
- Avaamo
- Aylien
- Haptik
- Gupshup
- Sensforth.AI
- Chivox
- Cognii
For more information about this report visit https://www.researchandmarkets.com/r/x0356e
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