Online Language Learning Market will Witness a YOY Growth Rate of 17.67% in 2022
The online language learning market share is expected to grow up to USD 29.96 billion, progressing at a CAGR of 18.77% during the forecast period. Technavio's research report offers growth projections of all the market segments, along with an in-depth analysis of all the factors that are likely to boost growth. The research also delves deep into issues that are likely to challenge market growth. This detailed analysis of the market will facilitate clients in planning a business strategy for the growth of their business in the post-pandemic era. Unlock Free Sample Report
Online Language Learning Market: Market Segments and Growth Forecasts
The online language learning market report will provide insights into the current market share of each segment along with growth projections for the next five years.
- The online language learning market is segmented by Product (Courses, Solutions, and Apps) and Geography (APAC, Europe, North America, South America, and MEA).
- Based on the market segmentation by product, the online language learning market value in the segment of the courses will be significant during the forecast period.
- 45% of the market growth will originate from APAC during the forecast period. Factors such as the increasing enrollment of Asian students into foreign universities in North America and Europe and the emergence of Asia as the global hub for manufacturing and services will increase the online language learning market growth in APAC. China and India are the key markets for online language learning in APAC.
- The online language learning market report provides an accurate prediction of the contribution of all the geographic segments to the growth of the online language learning market size.
Online Language Learning Market: Trends, Drivers, Challenges
- Increasing enrollment of foreign students will be a significant factor in driving the growth of the Online Language Learning Market.
- Artificial intelligence in language learning will be instrumental in driving market growth during the forecast period.
- Threat from open sources is a hurdle that needs to be crossed on the path to success.
Online Language Learning Market: Vendor Analysis
The market is fragmented due to the presence of several players. Babbel GmbH, Benesse Holdings Inc., Busuu Ltd., Cengage Learning Inc., Duolingo Inc., Educational Testing Service, EF Education First Ltd., Enux Education Ltd., Houghton Mifflin Harcourt Co., inlingua International Ltd., IXL Learning Inc., Linguarama International Ltd., Linguatronics LC, McGraw Hill Education Inc., New Oriental Education and Technology Group Inc., Oxford University Press, Pearson Plc, Sanako Oy, Think and Learn Pvt. Ltd., and Voxy Inc. are some of the major online language learning market vendors.
Download the Free PDF Sample Report The custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D along with impact analysis of government regulations.
The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerating at a CAGR of 18.77%.
- What is the incremental growth of the market?
The market is expected to grow up to USD 29.96 billion.
- What is a key factor driving this market?
Increasing enrollment of foreign students will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, Europe, North America, South America, and MEA are the key regions featured in this research report.
- Which is the leading geographic region for this market?
45% growth will originate from APAC.
- What are the market segments covered in this report?
The market is segmented by Product (Courses, Solutions, and Apps) and Geography (APAC, Europe, North America, South America, and MEA).