NEW YORK, May 7, 2024 /PRNewswire/ — The global online language learning market size is estimated to grow by USD 42.10 billion from 2024 to 2028, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 19.73% during the forecast period.
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|
Report Attribute |
Details |
|
Base Year |
2023 |
|
Forecast period |
2024-2028 |
|
Historic Data for |
2018 – 2022 |
|
Segments Covered |
End-user (Courses, Solutions, and Apps) and Language (English, Mandarin, Spanish, and Others) |
|
Key Companies Covered |
Babbel GmbH, Berlitz Corp., Cengage Learning Inc., Chegg Inc., Duolingo Inc., Educational Testing Service, edX LLC, EF Education First Ltd., Enux Education Ltd., Houghton Mifflin Harcourt Co., inlingua International Ltd., iTutorGroup Inc., IXL Learning Inc., McGraw Hill LLC, Sanako Oy, Think and Learn Pvt. Ltd., uFaber Edutech Pvt. Ltd., University of Oxford, Voxy Inc., and New Oriental Education and Technology Group Inc. |
|
Regions Covered |
APAC, Europe, North America, South America, and Middle East and Africa |
One of the Key Driver Fueling Growth
- Low cost of online language learning:
- Online language learning programs are gaining traction due to their cost-effectiveness and added benefits over traditional offline methods. Unlike offline courses, online programs eliminate expenses related to physical infrastructure. With just basic software and hardware, learners can register and complete assignments conveniently.
- Additionally, the widespread digital access facilitates easy usage of language learning apps and software globally. Online platforms offer perks like flexible scheduling, personalized materials, live chats, and immediate feedback, enhancing the learning experience.
- These advantages drive the increasing popularity of online language learning, making it the fastest-growing segment in the market. As a result, the low cost and holistic benefits of online programs are expected to fuel the growth of the global online language learning market in the foreseeable future.
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Major Challenges:
- Threat from open sources
- The rise of free online courses like MOOCs poses a significant threat to the global online language learning market. MOOC platforms such as Coursera and edX are rapidly gaining popularity worldwide. Duolingo, targeting India and China, capitalizes on these emerging markets.
- Collaboration between MOOCs and educational institutions further dampens the language learning market’s growth. UIcelandX, a partnership between the University of Iceland and edX, offers free language courses, attracting students and the public alike.
- With courses from reputable universities, MOOC enrollment surges. This trend inhibits the online language learning market’s expansion in the forecast period.
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Segmentation Overview
- End-user
- 1.1 Courses
- 1.2 Solutions
- 1.3 Apps
- 2.1 English
- 2.2 Mandarin
- 2.3 Spanish
- 2.4 Others
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and Africa
1.1 Courses- The courses segment in the language learning market is set to experience significant growth in the coming years. Courses form the backbone of language programs, offering comprehensive content for learning. This segment, which was valued at USD 6.60 billion in 2018, is expected to expand notably due to the rising popularity of self-paced learning.
- Self-paced learning is particularly favored by individual users like students and business professionals, driven by the increasing demand for foreign language proficiency in the global business landscape. With more international businesses and students entering the scene, the need for language skills is on the rise.
- Consequently, the courses segment is anticipated to exhibit a steady year-over-year growth rate throughout the forecast period. Its affordability compared to traditional classroom-based programs further contributes to its attractiveness in the market.
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Analyst Review
The online language learning market caters to job seekers and multinational corporations seeking multilingual skills. With globalization trends, e-learning platforms offer high-quality content for flexible learning. Language experts provide traditional and AI-driven methods for individual and institutional learners. Flexibility in pricing and technological advancements, like IoT and cloud computing, support the industry. Wearable gadgets, smartphones, and tablets facilitate learning modes, from self-learning apps to personalized tutoring. Asia Pacific’s higher education expenditure and internet penetration drive market growth.
Innovative products like HoloLens and smart glasses enhance learning experiences. Virtual classrooms and multimedia resources aid cross-cultural understanding. However, technological barriers and limited human interaction pose challenges. Solutions include adaptive learning, personalized programs, and tracking learner progress. Online platforms democratize education, promoting lifelong learning and skill development for beginners to advanced learners through synchronous and asynchronous methods. Blended learning integrates digital technology with traditional education, fostering cultural adaptation and communication skills in the corporate sector.
Market Overview
The online language learning market is experiencing notable growth, driven by traditional methods transitioning to e-learning platforms. Language learning providers are leveraging artificial intelligence to enhance interactive exercises and offer flexible pricing structures, catering to the multilingual workforce of multinational companies. Technological improvements like wearable devices and improved internet access have expanded the market’s reach.
With a burgeoning smartphone user base, cross-border communication is facilitated, fostering a demand for language learning tools. Movies are also being utilized as educational resources. Despite initial implementation costs, the benefits of online language learning are evident, particularly in an evolving education sector. This market evolution reflects the increasing demand for efficient and accessible language learning solutions in today’s globalized world.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
- Courses
- Solutions
- Apps
- Language
- English
- Mandarin
- Spanish
- Others
- Geography
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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.
Contacts
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Jesse Maida
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Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
