NEW YORK, Jan. 11, 2022 /PRNewswire/ -- Online Language Learning Market Facts at a Glance-
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According to the recent market study by Technavio, the Online Language Learning Market Size is expected to increase by USD 21.57 billion from 2019 to 2024. However, the growth momentum is expected to decelerate at a CAGR of 20% during the forecast period. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
APAC will register the highest growth rate, occupying 45% of the global market share. China and India are the key markets for online language learning in APAC.
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Vendor Insights-
The online language learning market is fragmented due to the presence of several regional and international players.
Cengage Learning Inc.: The company offers English language teaching and learning products for students and professionals.
Duolingo Inc.: The company provides various online language courses such as English, Chinese, and Spanish among others.
EF Education First Ltd.: The company provides over 150 academic courses across 50 destinations and in 9 languages. Some of the popular courses are EF intensive course, EF general course, and EF basic course.
Houghton Mifflin Harcourt Co.: The company offers intervention solutions that address curriculum needs outside core disciplines. The company also offers district and state-level cognitive and formative assessment tools and platform solutions.
McGraw-Hill Education Inc.: The company offers digital learning solutions that include adaptive digital learning tools, online assessment software, course management, cloud-based management software, cloud-based classroom activity, capture and replay, online access to eBooks, and social network and community tools.
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Regional Market Outlook
The online language learning market growth in APAC will be significant during the forecast period. The increasing enrollment of Asian students into foreign universities in North America and Europe is driving the growth of the online language learning market in APAC. In addition, factors such as the increase in the number of start-ups, increased investments, the steady growth of the economy, and favorable government measures are contributing to the growth of the regional market.
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Latest Drivers & Trends Driving the Market-
Online language learning costs less compared to offline learning courses as it eliminates the costs associated with classroom space, equipment, and other classroom essentials. In addition, many benefits offered by online language learning models such as easy registration, flexibility, customized learning materials, live chats and forums, feedback on quizzes and tests, and self-paced learning are increasing their popularity among students, which is driving the growth of the market.
Vendors in the market are focusing on launching online language learning models by integrating AI. By leveraging AI, vendors are able to offer tailor-made products for business learners, students, and travelers. Although the integration of AI is still in the nascent stage, it is expected to gain traction among users over the forecast period and have a positive impact on the market growth.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
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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 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. |
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 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/
SOURCE Technavio
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