Online Language Learning Market by Product, Language, 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 about 20%. 

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

What was the Online Language Learning Market Size in 2019?

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What are the Key Online Language Learning Market Trends and Drivers?

  • The increasing enrollment of foreign students is one of the significant drivers fueling online language learning market growth.
  • 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.
  • Artificial Intelligence (AI) in language learning has been identified as one of the critical online language learning market trends. 
  • 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. 
  • 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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Which is the Largest Market Segment Contributing to the Online Language Learning Market Growth?

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The online language learning market share growth by the courses segment will be significant due to the inclusion of 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.   

Which are the Key Markets for Online Language Learning?

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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. 

Who are the Major Online Language Learning Market Vendors?

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. 

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Key Highlights of the Online Language Learning Market 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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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
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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
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TechnavioREPORT WRITING

Qualitative

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

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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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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