NEW YORK, Jan. 16, 2023 /PRNewswire/ — The global online language learning market size is estimated to increase by USD 29.96 billion from 2021 to 2026. The market’s growth momentum will accelerate at a CAGR of 18.77{af0afab2a7197b4b77fcd3bf971aba285b2cb7aa14e17a071e3a1bf5ccadd6db} during the forecast period – request a sample report
Global online language learning market – Vendor analysis
Vendor offerings –
-
Cengage Learning Inc. – The company offers online language learning books such as Teaching English as a Second or Foreign Language.
-
Duolingo Inc. – The company offers online language learning courses such as French, Spanish, Japanese, Korean, Chinese, Hindi, German, Italian, Russian, Arabic and Italian.
-
EF Education First Ltd. – The company offers a range of widely recognized certificates in various languages such as English, French, Spanish, German, Italian, Mandarin, and Japanese.
-
Houghton Mifflin Harcourt Co. – The company offers Spanish and French programs to students.
-
For details on vendors and their offerings – Buy the report!
Vendor landscape –
The global online language learning market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors in the market are Babbel GmbH, Benesse Holdings Inc., Busuu Ltd., Cengage Learning Inc., Duolingo Inc., Educational Testing Service, EF Education First Ltd., Enux Education Ltd., Houghton Mifflin Harcourt Co., inlingua International Ltd., IXL Learning Inc., Linguarama International Ltd., Linguatronics LC, McGraw Hill Education Inc., New Oriental Education and Technology Group Inc., Oxford University Press, Pearson Plc, Sanako Oy, Think and Learn Pvt. Ltd., and Voxy Inc. and others.
The key players in the market are adopting strategic developments to increase their market share across the world. The key competitive criteria in the market are price, quality, and innovation. However, the ultimate purchase decision is based on the price.
Global online language learning market – Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –
Global online language learning market – Segmentation assessment
Segment overview
Technavio has segmented the market based on product (courses, solutions, and apps) and language (English, Mandarin, Spanish, and others).
-
The courses segment will grow at a significant rate during the forecast period. The growth of this segment is driven by factors such as the rapid growth of self-paced e-learning. In addition, vendors are designing courses that are compatible with smart gadgets. These factors will fuel the growth of the courses segment of the market.
Geography overview
Based on geography, the global online language learning market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global online language learning market.
-
APAC will account for 45{af0afab2a7197b4b77fcd3bf971aba285b2cb7aa14e17a071e3a1bf5ccadd6db} of the market’s growth during the forecast period. China and India are the key contributors to the online language learning market in the region. Moreover, market growth in this region will be faster than the growth of the market in other regions. The increasing enrollment of Asian students into foreign universities in North America and Europe and the emergence of Asia as a global hub for manufacturing and services will drive the online language learning market growth in APAC during the forecast period.
Global online language learning market – Market dynamics
Leading drivers – The cost benefits and flexibility of online language learning are driving the growth of the market. Online language learning programs do not have to incur costs associated with classroom space, equipment, and other physical amenities. The necessary software and hardware are the minimum requirements for an online language learning program. Other user benefits include easy registration, flexibility of timings, customized learning materials, live chats and forums, immediate feedback on quizzes and tests, and self-paced learning. Thus, the low cost of online language learning, coupled with its benefits, will drive the growth of the global online language learning market.
Key trends – Artificial Intelligence (AI) in language learning is a key trend in the market. The adoption of AI in language learning reduces the time taken to learn a language when compared to traditional methods of language learning. The curriculum of online language learning platforms is customized as per the needs of learners. The implementation of AI in language learning is in the nascent stage. However, it is expected to gain traction during the forecast period.
Major challenges – The threat from open sources is challenging the market’s growth. The adoption of MOOCs is increasing globally. Coursera, edX, XuetangX, Udacity, and FutureLearn are some of the top MOOCs platforms in terms of the number of registered users. The providers of open sources of online language learning courses are collaborating with educational institutions. For instance, Duolingo is targeting India and China, which are among the biggest emerging markets for language learning. Thus, the growing collaborations between MOOC providers and educational institutions will hamper the growth of the global online language learning market.
What are the key data covered in this online language learning market report?
-
CAGR of the market during the forecast period
-
Detailed information on factors that will drive the growth of the online language learning market between 2022 and 2026
-
Precise estimation of the size of the online language learning market and its contribution to the parent market
-
Accurate predictions about upcoming trends and changes in consumer behavior
-
Growth of the online language learning market across APAC, Europe, North America, South America, and Middle East and Africa
-
A thorough analysis of the market’s competitive landscape and detailed information about vendors
-
Comprehensive analysis of factors that will challenge the growth of online language learning market vendors
Gain instant access to 17,000+ market research reports.
Technavio’s SUBSCRIPTION platform
Related Reports:
The size of the online tutoring services market in US is expected to increase by USD 27.85 billion from 2021 to 2026. This report extensively covers market segmentation by product (test preparation service and subject tutoring service) and end-user (higher education institutes and K-12 schools).
The size of the online language learning market in US is expected to increase by USD 5.72 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 19.75{af0afab2a7197b4b77fcd3bf971aba285b2cb7aa14e17a071e3a1bf5ccadd6db}. This report extensively covers segmentation by product (course material, support, and apps) and end-user (individual learners and institutional learners).
|
Online Language Learning Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
156 |
|
Base year |
2021 |
|
Forecast period |
2022-2026 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 18.77{af0afab2a7197b4b77fcd3bf971aba285b2cb7aa14e17a071e3a1bf5ccadd6db} |
|
Market growth 2022-2026 |
USD 29.96 billion |
|
Market structure |
Fragmented |
|
YoY growth 2021-2022 ({af0afab2a7197b4b77fcd3bf971aba285b2cb7aa14e17a071e3a1bf5ccadd6db}) |
17.67 |
|
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 45{af0afab2a7197b4b77fcd3bf971aba285b2cb7aa14e17a071e3a1bf5ccadd6db} |
|
Key countries |
US, China, India, UK, and Spain |
|
Competitive landscape |
Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
|
Key companies profiled |
Babbel GmbH, Benesse Holdings Inc., Busuu Ltd., Cengage Learning Inc., Duolingo Inc., Educational Testing Service, EF Education First Ltd., Enux Education Ltd., Houghton Mifflin Harcourt Co., inlingua International Ltd., IXL Learning Inc., Linguarama International Ltd., Linguatronics LC, McGraw Hill Education Inc., New Oriental Education and Technology Group Inc., Oxford University Press, Pearson Plc, Sanako Oy, Think and Learn Pvt. Ltd., and Voxy Inc. |
|
Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the 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. |
|
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. |
Browse for Technavio’s consumer discretionary market reports
Table of contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Language
6 Market Segmentation by Product
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
Newsroom: https://newsroom.technavio.org/news/online-language-learningmarket
View original content to download multimedia:https://www.prnewswire.com/news-releases/online-language-learning-market-size-to-grow-by-usd-29-96-billion-from-2021-to-2026-a-descriptive-analysis-of-customer-landscape-vendor-assessment-and-market-dynamics—technavio-301719114.html
SOURCE Technavio
