Solution 1:
You are getting this error because the Jet driver you have installed need 32 bit OS & system to function, Here’s how to update to a new 64-bit compatible database engine:

1/ Download the Microsoft Access Database Engine 2010 Redistributable, you can choose from the 32 bit or 64 bit version depending on your machine and install it on your server

http://www.microsoft.com/download/en/details.aspx?id=13255
2/ in your application or website code, update the connection string from “Provider=Microsoft.Jet.OLEDB.4.0; “  to  “Provider=Microsoft.ACE.OLEDB.12.0;”

3/ recompile and run your application

Solution 2:
To resolve this issue open the project in Visual Studio then:
 
1. From the solution explorer right-click your project then click Properties
2. Click the Build tab
3. Change Platform target from: Any CPU to x86
4. Re-build your solution

REF:http://stackoverflow.com/questions/1991643/microsoft-jet-oledb-4-0-provider-is-not-registered-on-the-local-machine

https://social.msdn.microsoft.com/Forums/en-US/d5b29496-d6a1-4ecf-b1a4-5550d80b84b6/microsoftjetoledb40-32bit-and-64bit?forum=adodotnetdataproviders
http://www.codeproject.com/Questions/464072/The-Microsoft-Jet-OLEDB-provider-is-not-regist
http://www.codicode.com/art/64_bit_version_of_microsoft_jet.aspx