Online Language Learning Market Expected to Grow by $21.57 Billion | Cost Benefits and Flexibility of Online Language Learning to Drive Market Growth

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Key Market Dynamics:

  • market engine
  • Market challenge

the cost-benefit and flexibility of online language learning are driving the growth of the online language learning market. Online language learning programs are cheaper than offline programs. Costs associated with classroom space, equipment, and other physical amenities do not apply to online language learning programs. The software and hardware needed to enroll and complete course assignments are the minimum requirements for an online language learning program. Online learning also has other benefits such as easy registration, flexibility of schedules, personalized learning materials, live chats and forums, immediate feedback on quizzes and tests, and learning at your own pace. Hence, the low cost of online language learning along with its benefits will drive the growth of the global online language learning market over the forecast period.

Artificial intelligence (AI) in language learning will challenge the online language learning market over the forecast period. The adoption of AI in language learning reduces the time it takes to learn a language compared to traditional methods of language learning. The program of online language learning platforms is very relevant and personalized according to the needs of the learners. For example, learning content is tailor-made for corporate learners, students, and travelers. The implementation of AI in language learning is still in its infancy. However, it is expected to gain popularity among users over the forecast period.

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Market segmentation

By Product, the Online Language Learning market report is segmented into Courses, Solutions, and Applications. the course section will experience significant growth in its market share over 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 Americaand MEA. APAC will be the leading region with 45% market growth during the forecast period. China and India are the key countries for online language learning market in Asia-Pacific.

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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.
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Scope of the online language learning market

Report cover

Details

Page number

120

Year of reference

2019

Forecast period

2020-2024

Growth momentum and CAGR

Decelerate at 20% CAGR

Market Growth 2021-2024

$21.57 billion

Market structure

Fragmented

Annual growth (%)

25.00

Regional analysis

APAC, Europe, North America, South America and MEA

Successful market contribution

APAC at 45%

Main consumer countries

China, India, United States, United Kingdom and Spain

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

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 Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Main topics covered:

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

  • Summary of the five forces
  • The bargaining power of buyers
  • Bargaining power of suppliers
  • The threat of new entrants
  • The threat of substitutes
  • Threat of rivalry
  • Market state

Market segmentation by product

  • Market segments
  • Comparison by product
  • Price – Market size and forecast 2019-2024
  • Solutions – Market size and forecast 2019-2024
  • Applications – Market size and forecast 2019-2024
  • Market opportunity by product

Market segmentation by language

  • Market segments
  • Comparison by language
  • French – 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

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
  • Main leading countries
  • Market Opportunity by Geography
  • Volume Driver – Supply Driven Growth
  • Volume Driver – Demand Driven Growth
  • Volume Driver – Shifting Demand to Adjacent Markets
  • Market challenges
  • Market trends

Supplier Landscape

  • Insight
  • Supplier Landscape
  • Landscape disturbance
  • Suppliers Covered
  • Positioning on the supplier market
  • 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.

Annex

  • Report scope
  • Currency conversion rates for the US dollar
  • Research methodology
  • Abreviations list

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