NEW YORK, March 19, 2021 /PRNewswire/ -- The online language learning market is expected to grow by USD 21.57 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the online language learning market in optimistic, probable, and pessimistic forecast scenarios.
Enterprises will go through the Response, Recovery, and Renew phases.
The online language learning market will witness a positive impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio's pandemic-focused market research, market growth increase in 2020 as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
Adjust their strategic planning to move ahead once business stability kicks in.
Build Resilience by making effective resource and investment choicesfor individual business units, products, and service lines.
Conceptualize scenario-based planning to mitigate future crisis situations.
Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
Pre- as well as post-COVID-19 market estimates
Quarterly impact analysis and updates on market estimates
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Major Three Online Language Learning Market Participants:
Cengage Learning Inc.
Cengage Learning Inc. operates its business through segments such as Learning, Gale, and International. The company offers English language teaching and learning products for students and professionals.
Duolingo Inc. operates its business through segments such as Duolingo, Duolingo for schools, Duolingo English test, Tinycards, Podcast, and Others. The company provides various online language courses such as English, Chinese, and Spanish among others.
EF Education First Ltd.
EF Education First Ltd. operates its business through segments such as EF Language and Schools, EF Cultural Exchange, EF Educational Travel, and EF Real Estate Holdings. The company offers 150 study programs. Some of the popular courses are EF intensive course, EF general course, and EF basic course. The company also provides over 150 academic courses across 50 destinations and in 9 languages.
Online Language Learning Market 2020-2024: Segmentation
Online language learning market is segmented as below:
The online language learning market is driven by increasing enrollment of foreign students. In addition, other factors such as artificial intelligence (AI) in language learning are expected to trigger the online language learning market toward witnessing a CAGR of about 20% during the forecast period.
About Us 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.