SSIS issue with data being loaded from excel file

We are getting the below errors when the SSIS package is deployed and executed. the SSIS package contains Excel as a source.

Data Flow Task:Error: SSIS Error Code DTS_E_CANNOTACQUIRECONNECTIONFROMCONNECTIONMANAGER. The AcquireConnection method call to the connection manager "Excel Connection Manager" failed with error code 0xC0209303. There may be error messages posted before this with more information on why the AcquireConnection method call failed.

Package:Error: The requested OLE DB provider Microsoft.Jet.OLEDB.4.0 is not registered. If the 64-bit driver is not installed, run the package in 32-bit mode. Error code: 0x00000000. An OLE DB record is available. Source: "Microsoft OLE DB Service Components" Hresult: 0x80040154 Description: "Class not registered"