The online language learning market share in the US will post an incremental growth of USD 5.72 billion, progressing at a CAGR of 19.75% during the forecast period. The influx of immigrants will offer immense growth opportunities to market vendors. The market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Online Language Learning Market in US Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The online language learning market in the US is segmented by product (course material, support, and apps) and end-user (individual learners and institutional learners).
The growth of the online language learning market size in US by the course material segment will be significant during the forecast period. The growth of the segment is driven by the significant increase in the demand for courses from individual learners.
The influx of immigrants will directly influence the online language-learning market in the US. In addition, the increased use of VR is one of the major online language learning market trends in the US that will positively impact the market growth. However, factors such as the competition from providers of MOOC will hamper the online language learning market growth in the US.
The market is fragmented due to the presence of several players. Some of the major online language learning market vendors in the US are Babbel GmbH, Berlitz Corp., Duolingo Inc., Mango Languages, McGraw Hill Education Inc., Pearson Plc, Rosetta Stone Ltd., SANS Inc. Software and Network Solutions, Speexx, and Springer-Verlag GmbH
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
Download the Free PDF sample report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the market growth.
Precise market size estimation during the forecast period 2022-2026.
CAGR of the online language learning market in US forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the online language learning market share in the US.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the online language learning market in the US.
Online language learning industry growth across the US.
