Online Language Learning Market by Product and Geography - Forecast and Analysis 2020-2024

  • Published: Sep 2020
  • Pages: 120
  • SKU: IRTNTR41098
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The online language learning market size has the potential to grow by USD 21.57 billion during 2020-2024, and the market’s growth momentum will decelerate at a CAGR of 20%. 

This report provides a detailed analysis of the market by language (English, Mandarin, Spanish, and others), geography (APAC, Europe, North America, South America, and MEA), product (courses, solutions, and apps), and key vendors. 

Market Overview

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • Cengage Learning Inc.
  • Duolingo Inc.
  • EF Education First Ltd.
  • Houghton Mifflin Harcourt Co.
  • McGraw-Hill Education Inc.
  • New Oriental Education and Technology Group Inc.
  • Pearson Plc
  • Rosetta Stone Inc.
  • Sanako Corp.
  • Voxy Inc.

 

The online language learning market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as increasing enrollment of foreign students to achieve growth opportunities. However, factors such as threat from open sources will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the online language learning market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies, 

This online language learning market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Online Language Learning Market: Key Drivers and Trends

  • The US has the world’s largest international student population. The enrollment of foreign students in the UK witnessed significant growth in 2019 over 2018.
  • The rising disposable incomes and growing interest in robust education systems are inducing more foreign students to move to developed countries for educational purposes.
  • Parents are prefering their children to join online language learning programs.
  • The demand for online language learning programs can be attributed to factors such as the quality of education offered by foreign educational institutions, the rise in the number of individual learners from K-12 across the world, and growth in the global higher education segment.
  • The adoption of AI in language learning comparatively reduces the time taken in learning a language when compared with traditional methods of language learning. 
  • RISE Education Cayman Limited, a China-based junior English language training provider, launched an intelligent learning platform based on artificial intelligence to empower teachers and parents to improve the learning experience for students. 
  • The curriculum of online language learning platforms can be customized as per the learners’ needs. 
  • Although the implementation of AI in language learning is still in its nascent stage, it is expected to gain more traction among users during the forecast period.

 

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Online Language Learning Market: Segmentation by Geography

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45% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for online language learning in APAC. Market growth in this region will be faster than the growth of the market in other regions.

One of the prime factors that will facilitate the online language learning market growth in APAC over the forecast period is the increasing enrollment of Asian students into foreign universities. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Online Language Learning Market: Segmentation by Type

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The online language learning market share growth by the courses segment will be significant and the factors attributes to the growth of the courses segment is due to the inclusion of include the digital content and courseware that aids in language learning.

This report provides an accurate prediction of the contribution of all the segments to the growth of the online language learning market size. Fetch actionable market insights on post COVID19 impact on each segment.   

 

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Online Language Learning Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive online language learning market growth during the next five years
  • Precise estimation of the online language learning market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the online language learning industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of online language learning market vendors

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Online Language Learning Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Decelerate at a CAGR of 20%

Market growth 2020-2024

$ 21.57 billion

Market structure

Fragmented

YoY growth (%)

25.00

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 45%

Key consumer countries

China, India, US, UK, and Spain

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Cengage Learning Inc., Duolingo Inc., EF Education First Ltd., Houghton Mifflin Harcourt Co., McGraw-Hill Education Inc., New Oriental Education and Technology Group Inc., Pearson Plc, Rosetta Stone Inc., Sanako Corp., and Voxy Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Market characteristics

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2019
    • Market outlook: Forecast for 2019 - 2024

    Five Forces Analysis

    • Five Forces Summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Courses - Market size and forecast 2019-2024
    • Solutions - Market size and forecast 2019-2024
    • Apps - Market size and forecast 2019-2024
    • Market opportunity by Product

    Market Segmentation by Language

    • Market segments
    • Comparison by Language
    • English - Market size and forecast 2019-2024
    • Mandarin - Market size and forecast 2019-2024
    • Spanish - Market size and forecast 2019-2024
    • Others - Market size and forecast 2019-2024
    • Market opportunity by Language

    Customer landscape

    • Overview

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • APAC - Market size and forecast 2019-2024
    • Europe - Market size and forecast 2019-2024
    • North America - Market size and forecast 2019-2024
    • South America - Market size and forecast 2019-2024
    • MEA - Market size and forecast 2019-2024
    • Key leading countries
    • Market opportunity by geography
    • Volume driver - Supply led growth
    • Volume driver - Demand led growth
    • Volume driver - Demand shift in adjacent markets
    • Market challenges
    • Market trends

    Vendor Landscape

    • Overview
    • Vendor landscape
    • Landscape disruption
    • Vendors covered
    • Market positioning of vendors
    • Cengage Learning Inc.
    • Duolingo Inc.
    • EF Education First Ltd.
    • Houghton Mifflin Harcourt Co.
    • McGraw-Hill Education Inc.
    • New Oriental Education and Technology Group Inc.
    • Pearson Plc
    • Rosetta Stone Inc.
    • Sanako Corp.
    • Voxy Inc.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
    Get your FREE sample now!
    The online language learning market growth will increase by $21569.69 million during 2019-2024.
    The online language learning market is expected to grow at a CAGR of 20.00% during 2019-2024.
    Technavio has segmented the online language learning market by product (Courses, Solutions, and Apps) ,other1 (English, Mandarin, Spanish, and Others) , and geographic (APAC, Europe, North America, South America, and MEA).
    Cengage Learning Inc., Duolingo Inc., EF Education First Ltd., Houghton Mifflin Harcourt Co., McGraw-Hill Education Inc., New Oriental Education and Technology Group Inc., Pearson Plc, Rosetta Stone Inc., Sanako Corp., Voxy Inc. are a few of the key vendors in the online language learning market.
    APAC will register the highest growth rate of 44.52% among the other regions. Therefore, the online language learning market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the online language learning market growth are:
    • Cost benefits and flexibility of online language learning
    • Artificial Intelligence (AI) in language learning
    The online language learning market vendors should focus on grabbing business opportunities from the courses segment as it accounted for the largest market share in the base year.
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