Online Language Learning Market size to grow by USD 36,400.33 million from 2022 to 2027; Growth driven by the cost benefits and flexibility of online language learning- Technavio
NEW YORK, May 26, 2023
NEW YORK, May 26, 2023 /PRNewswire/ -- The online language learning market size is estimated to increase by USD 36,400.33 million, accelerating at a CAGR of 20% during the forecast. The cost benefits and flexibility of online language learning are notably driving the market growth, although the threat from open sources may impede the market growth.
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Online Language Learning Market – Market dynamics
Leading drivers - The cost benefits and flexibility of online language learning are notably driving the online language learning market growth. Online language learning programs cost less than offline programs. online language learning apps and software are becoming easily accessible with the rapid digital penetration worldwide. The low cost of online language learning combined with its benefits will boost the growth of the online language learning market during the forecast period.
Key trends - The use of Artificial Intelligence in language learning is a key trend influencing the online language learning market growth. The introduction of AI in language learning has been found to reduce the time it takes to master a language compared to traditional language learning methods. AI can reduce the time, money, and effort required to complete an online or app-based course and fully personalize each student's digital language learning.
Major challenges - The threat from open sources is challenging the online language learning market growth. Massive open online courses (MOOCs) are easily available in open source. The growth of MOOCs is having a major negative impact on the global online language-learning market. Therefore, increasing collaboration between MOOC providers and educational institutions will hamper the growth of the online language learning market during the forecast period.
In addition to the forecast, the report also highlights the key opportunities by analyzing drivers, trends, and challenges for the market!
Online Language Learning Market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –
- Key purchase criteria
- Adoption rates
- Adoption lifecycle
- Drivers of price sensitivity
Online Language Learning Market – Vendor Analysis
Some of the major online language learning market vendors are:
- Babbel GmbH
- Cengage Learning Holdings II Inc.
- Chegg Inc.
- Duolingo Inc.
- Educational Testing Service
- EF Education First Ltd.
- Enux Education Ltd.
- Houghton Mifflin Harcourt Co.
- inlingua International Ltd.
- iTutorGroup Inc.
- IXL Learning Inc.
- Linguarama International Ltd.
- McGraw Hill LLC
- New Oriental Education and Technology Group Inc.
- Oxford University Press
- Pearson Plc
- Sanako Oy
- Think and Learn Pvt. Ltd.
- Voxy Inc.
The online language learning market is fragmented, with the presence of several global as well as regional vendors. The degree of fragmentation will accelerate during the forecast period.
Vendor offerings -
- berlitz.com- The company offers online language learning such as Spanish for kids, French for kids.
- cengagegroup.com- The company offers online language learning such as Introductory Spanish, Introductory French, Introductory German.
- chegg.com- The company offers online language learning solutions such as Busuu App of English.
- duolingo.com- The company offers online language learning of Norwegian, Irish, Indonesian.
- ets.org- The company offers online language learning such as English Discoveries.
- For Details on the vendor and its offerings – Buy the report!
Online Language Learning Market - Segmentation Assessment
The online language learning market is segmented as below:
- North America
- The U.S.
- Rest of Europe
- South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 Download a Sample Report
What are the key data covered in this Online Language Learning Market report?
- CAGR of the market during the forecast period
- Detailed information about factors that will drive the growth of the online language learning market between 2023 and 2027
- Precise estimation of the size of the online language learning market and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the online language learning market across APAC, Europe, North America, South America, and the Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of the online language learning market vendors
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Online Language Learning Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 20%
Market growth 2023-2027
USD 36400.33 million
YoY growth 2022-2023(%)
APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution
APAC at 43%
US, China, India, UK, and Spain
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Babbel GmbH, Berlitz Corp., Cengage Learning Holdings II Inc., Chegg Inc., Duolingo Inc., Educational Testing Service, EF Education First Ltd., Enux Education Ltd., Houghton Mifflin Harcourt Co., inlingua International Ltd., iTutorGroup Inc., IXL Learning Inc., Linguarama International Ltd., McGraw Hill LLC, New Oriental Education and Technology Group Inc., Oxford University Press, Pearson Plc, Sanako Oy, Think and Learn Pvt. Ltd., and Voxy Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
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