NLP in Education Global Market Report 2023: Growing Adoption of NLP to Assess Student Performance Presents Opportunities
DUBLIN, May 31, 2023 /PRNewswire/ -- The "NLP in Education Market by Offering (Solutions and Services), Model Type (Rule-based, Statistical, and Hybrid), Application (Sentiment Analysis & Data Extraction, Intelligent Tutoring & Language 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%.
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.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 NLP in Education Market, by Offering
7 NLP in Education Market, by Model Type
8 NLP in Education Market, by End-user
9 NLP in Education Market, by Application
10 Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Adjacent/Related Markets
For more information about this report visit https://www.researchandmarkets.com/r/c6zchs
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