Online Language Learning Market size to grow by USD 29.96 billion from 2021 to 2026, Driven by the cost benefits and flexibility of online language learning - Technavio
NEW YORK, March 22, 2023 /PRNewswire/ -- The global online language learning market size is estimated to grow by USD 29.96 billion from 2021 to 2026 according to Technavio. The market is estimated to grow at a CAGR of 18.77% during the forecast period. One of the prominent factors driving the global online language learning market growth is the cost benefits and flexibility of online language learning. This is because the costs associated with classroom space, equipment, and other physical amenities do not apply to online language learning programs. The necessary software and hardware to register and complete the course assignments are the minimum requirements for an online language learning program. Some of the benefits of online language learning include easy registration, flexible timings, customized learning materials, live chats, and forums, immediate feedback on quizzes and tests, and self-paced learning. Hence, the low cost of online language learning, coupled with its benefits, will serve as a key driver for the growth of the global online language learning market.
Geography Overview By geography, the global online language learning market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global online language learning market.
APAC is estimated to contribute 45% to the growth of the online language learning market during the forecast period. Market growth in the region will be faster than the growth of the market in other regions. The rising enrollment of Asian students in universities in North America and Europe as well as the emergence of Asia as the global hub for manufacturing and services will facilitate the growth of the online language learning market in APAC over the forecast period.
Online Language Learning Market - Segmentation Assessment Segment Overview Technavio has segmented the market based on the product (courses, solutions, and apps), language (English, Mandarin, Spanish, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
The market share growth by courses segment will be significant during the forecast period. Growth can be attributed to factors such as the rapid growth of self-paced e-learning in the education market. Vendors in the global online language learning market design courses compatible with any smart gadget. Hence, factors like the rapid growth of self-paced e-learning are expected to drive segment growth during the forecast period.
The online tutoring services market in India is estimated to grow at a CAGR of 17.03% between 2022 and 2027. The size of the market is forecast to increase by USD 10,585.08 million. The increasing expenditure on tutoring is driving the market growth.
The online vocational courses market is estimated to grow at a CAGR of 16.56% between 2022 and 2027. The size of the market is forecast to increase by USD 21,546.78 million. The growing advantages of online learning are driving market growth.
Online Language Learning Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 18.77%
Market growth 2022-2026
USD 29.96 billion
YoY growth 2021-2022 (%)
APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution
APAC at 45%
US, China, India, UK, and Spain, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
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.
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
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Exhibit 129: IXL Learning Inc. - Product / Service
Exhibit 130: IXL Learning Inc. - Key offerings
11.8 McGraw Hill Education Inc.
Exhibit 131: McGraw Hill Education Inc. - Overview
Exhibit 132: McGraw Hill Education Inc. - Business segments
Exhibit 133: McGraw Hill Education Inc. - Key offerings
Exhibit 134: McGraw Hill Education Inc. - Segment focus
11.9 New Oriental Education and Technology Group Inc.
Exhibit 135: New Oriental Education and Technology Group Inc. - Overview
Exhibit 136: New Oriental Education and Technology Group Inc. - Business segments
Exhibit 137: New Oriental Education and Technology Group Inc. - Key offerings
Exhibit 138: New Oriental Education and Technology Group Inc. - Segment focus
11.10 Pearson Plc
Exhibit 139: Pearson Plc - Overview
Exhibit 140: Pearson Plc - Business segments
Exhibit 141: Pearson Plc - Key offerings
Exhibit 142: Pearson Plc - Segment focus
11.11 Sanako Oy
Exhibit 143: Sanako Oy - Overview
Exhibit 144: Sanako Oy - Product / Service
Exhibit 145: Sanako Oy - Key offerings
11.12 Voxy Inc.
Exhibit 146: Voxy Inc. - Overview
Exhibit 147: Voxy Inc. - Product / Service
Exhibit 148: Voxy Inc. - Key offerings
12.1 Scope of the report
12.2 Inclusions and exclusions checklist
Exhibit 149: Inclusions checklist
Exhibit 150: Exclusions checklist
12.3 Currency conversion rates for US$
Exhibit 151: Currency conversion rates for US$
12.4 Research methodology
Exhibit 152: Research methodology
Exhibit 153: Validation techniques employed for market sizing
Exhibit 154: Information sources
12.5 List of abbreviations
Exhibit 155: List of abbreviations
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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