Online Language Learning - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Online Language Learning Market is accounted for $8.17 billion in 2019 and is expected to reach $20.37 billion by 2027 growing at a CAGR of 12.1% during the forecast period. Globalization and the increasing need for communication across the borders are propelling the market growth. However, technological risks and duplicitous sources may hamper the growth of the market.
Online language learning is a term referred to as the process of learning a new language. The virtual world is playing an important role in most of the sectors, especially in language learning. Globalization and expansion into new geographies are increasing cultural diversity and communication patterns which demand language learning programs and courses.
Based on the mode, the consumer segment is likely to have a huge demand due to growing adoption of the online language learning apps, availability of short and long term pricing plans, and drop in internet data costs are some of the major factors supporting the growth of this segment.
By geography, the Asia Pacific is estimated to have a lucrative growth due to the factors such as substantial young population looking for better job opportunities, escalating penetration of smartphones, growing digitization of content, government initiatives for national online education networks, and shortage of teachers in rapidly developing countries.
Some of the key players profiled in the Online Language Learning Market include Voxy Inc., Duolingo Inc., EF Education First Ltd., Cengage Learning Inc., McGraw-Hill Education Inc., Sanako Corp., Pearson Plc, Rosetta Stone Inc., Houghton Mifflin Harcourt Co., New Oriental Education and Technology Group Inc., Eleutian Technology, Inlingua International, Wall Street English, iTutorGroup, and Babbel.
• Higher Education Department (HED)
Language Types Covered:
• Mandarin Chinese
• European Language
Pricing Models Covered:
Deployment Modes Covered:
• Consumer Goods
• Financial Services
• IT and Telecom
End Users Covered:
• Educational Institutes
• Government Institution
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019 2020, 2024, and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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