Online Language Learning Market to Grow by USD 21.57 bn | Cost Benefits and Flexibility of Online Language Learning to Boost Market Growth | Technavio
Wednesday, April 20, 2022
NEW YORK, April 12, 2022 /PRNewswire/ -- The "Online Language Learning Market by Product (Courses, Solutions, and Apps) and Geography (APAC, Europe, North America, South America, and MEA) - Forecast and Analysis 2020-2024" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has been proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the online language learning market between 2019 and 2024 is USD 21.57 bn. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
-- Market Driver
-- Market Challenge
The cost benefits and flexibility of online language learning are driving the growth of the online language learning market. Online language learning programs are less expensive compared with offline programs. Costs associated with classroom space, equipment, and other physical amenities do not apply to online language learning programs. The necessary software and hardware to register and complete the course assignments are the minimum requirements for an online language learning program. Online learning also has other benefits such as easy registration, flexibility of timings, customized learning materials, live chats and forums, immediate feedback on quizzes and tests, and self-paced learning. Hence, the low cost of online language learning, along with its benefits, will drive the growth of the global online language learning market during the forecast period.
Artificial Intelligence (AI) in language learning will challenge the online language learning market during the forecast period. The adoption of AI in language learning reduces the time taken in learning a language when compared to traditional methods of language learning. The curriculum of online language learning platforms is highly relevant and customized as per learners' needs. For instance, the learning content is tailor-made for business learners, students, and travelers. The implementation of AI in language learning is still in its nascent stage. However, it is expected to gain more traction among users during the forecast period.
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Market Segmentation
By product, the online language learning market report is segmented into courses, solutions, and apps. The courses segment will have significant market share growth during the forecast period. The course segment will be primarily driven by the rapid growth of self-paced e-learning in the education market.
By geography, the market is segmented into APAC, Europe, North America, South America, and MEA. APAC will be the leading region with 45% of the market's growth during the forecast period. China and India are the key countries for the online language learning market in APAC.
View our sample report for additional insights into the contribution of all the segments and regional opportunities in the report.
Some Companies Mentioned
-- 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.
-- To gain access to more vendor profiles with their key offerings
available with Technavio, Click Here
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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 2021-2024
USD 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.
Key Topics Covered:
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
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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 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:media@technavio.com
Website: www.technavio.com/
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