NLP in Education Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2028

May 15 15:55 2023
NLP in Education Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2028
IBM (US), Microsoft (US), Google (US), AWS (US), SAS Institute (US), Inbenta (US), Baidu (China), Welocalize (US), (US), NICE (US), ABBYY (US), Automated Insights (US), (US), (Islamabad), (US), Carnegie Learning (US), Gecko (US), (US), Attivio (US), Conversica (US), Avaamo (US), Aylien (Ireland) and Cognii (US).
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

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 rising demand for efficient language learning, the urge for predictive analytics to reduce risks and identify growth opportunities, and the evolution of AI and deep learning will drive the market.

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Solutions segment to hold highest market share during forecast period

Al solutions are widely used as people become more aware of their alleged advantages. The NLP in education is a subset of artificial intelligence (AI) that corresponds to the processing and mining of unstructured data. It helps AI machines comprehend the intricacies and circumstances of language used by people to express themselves. It is often applied to data generated in the form of text, voice, and video materials. NLP in education solutions is provided by vendors like IBM, Microsoft, and Google with cutting-edge functions, including sentiment analysis, text classification & summarization, and speech recognition. Several manufacturers provide high-end NLP in education software solutions or Application Program Interfaces (APIs) with tailored capabilities in response to market customer expectations.

Professional Services segment to hold highest market share during forecast period

Training and consulting, system integration and implementation, and support and maintenance are the three sub-categories of professional services, where these services are supplementary to the purchase of software. A few businesses lack the necessary knowledge to successfully manage infrastructure, and as a result, they contract it out to firms that can offer these services. These services are essential for the deployment of NLP software. They are in charge of supporting, managing, and maintaining the installed software.

Modeling, organizing NLP, upgrading, and offering numerous other IT services are examples of professional services. Organizations that provide these services include big data specialists, devoted project management teams, support software, tools, services, and knowledge with a focus on the design and delivery of key choices.

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Key and innovative vendors in the NLP in the education market include IBM (US), Microsoft (US), Google (US), AWS (US), SAS Institute (US), Inbenta (US), Baidu (China), Welocalize (US), (US), NICE (US), ABBYY (US), Automated Insights (US), (US), (Islamabad), (US), Carnegie Learning (US), Gecko (US), (US), Attivio (US), Conversica (US), Avaamo (US), Aylien (Ireland), Haptik (India), Gupshup (US), (US), Chivox (China), and Cognii (US).

IBM is a global technology and consulting firm that provides consulting, hosting, and infrastructure services. Cloud and Cognitive Software, Global Business Services, Global Technology Services and Systems, and Global Financing are the four main business divisions that the corporation uses to conduct its operations. Because it is Al-compatible, IBM Cloud has become the preferred platform for all corporate applications. It is a unifying platform that unifies IBM’s capabilities into a single architecture and covers both public and private cloud platforms. The organisation is able to meet the needs of various enterprises throughout the world thanks to this strong cloud platform.

Microsoft, a well-known international leader in information technology, offers software and a variety of licencing options. The business creates and supports software, services, products, and equipment. Operating systems (OS), cross-device productivity apps, servers, business solution apps, desktop and server administration tools, software development tools, and video games are among its product offerings. Additionally, the business creates, produces, and markets gadgets like PCs, tablets, gaming consoles, other intelligent devices, and related accessories. It provides a variety of services, such as cloud-based solutions, consulting services, and solution support. Microsoft is a leader in the development of analytics platforms and offers service production for the intelligent cloud with Al infusion.

2015 saw the establishment of Google’s parent company, Alphabet Inc. As one of the most recognisable brands in the world, Google’s product developments contribute to a growth in the use of its services. Android, Chrome, Gmail, Google Drive, Google Maps, Google Play, Search, and YouTube are just a few of the company’s key platforms and products, and each one has over one billion active users each month. The business invested in infrastructure, security, data management, analytics, and artificial intelligence in addition to creating a platform on the cloud. The clients of the organisation is distributed throughout a variety of industries, including the automotive, BFS, retail, and e-commerce, education, energy, engineering, entertainment, environment, food & beverage, government, healthcare, manufacturing, media, telecommunications, and IT, transportation, and travel & hospitality.

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