Online Language Learning Market to Record USD 21.57 Bn Growth | Cengage Learning Inc., Duolingo Inc., and EF Education First Ltd. emerge as dominant players | Technavio

• Total Pages: 120
• Companies: 10+ – Including 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.
• Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
• Segments: Product (courses, solutions, and apps) and Language (English, Mandarin, Spanish, and others)
• Geographies: North America, Europe, APAC, South America, and MEA

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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.

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Drivers & Trends Driving the Market-

• Online Language Learning Market Driver:
• Cost benefits and flexibility of online language learning:

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.

• Online Language Learning Market Trend:
• Use of artificial intelligence (AI) in language learning:

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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SOURCE Technavio