The online language learning market is expected to grow by USD 21.57 billion during 2020-2024. The market will have a positive impact due to the spread of COVID-19. Factors such as lockdowns, supply chain disruptions, and change in consumer behavior have greatly influenced the demand for online learning services. Besides, the cost benefits and flexibility offered by online language learning models are expected to foster market growth during the forecast period.
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Technavio has announced its latest market research report titled Global Online Language Learning Market 2020-2024 (Graphic: Business Wire)
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Online Language Learning Market: Cost Benefits and Flexibility of Online Language Learning
Online language learning programs are less expensive when compared to offline learning programs. They eliminate the need for classroom space, equipment, and other physical amenities. Online language learning models also offer benefits such as easy registration, flexible timings, customized learning materials, live chats and forums, immediate feedback on quizzes and tests, and self-paced learning. All these factors are increasing the acceptance of online learning language programs among learners, which is driving the market growth.
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As per Technavio, the use of artificial intelligence (AI) in language learning will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Online Language Learning Market: Increasing Use of AI in Language Learning
Vendors in the market are leveraging the latest technologies such as AI to offer highly relevant and customized programs for learners. For instance, in August 2019, Google launched an English Language Speech Assistant (ELSA) artificial intelligence application to improve English speaking skills in India. Similarly, in January 2019, RISE Education Cayman Limited launched an intelligent learning platform based on AI to improve the learning experience for students. Such advancements are positively influencing the growth of the global online language learning market.
“Mobile learning and gamification in language learning and the increasing enrolment of foreign students globally will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Online Language Learning Market: Segmentation Analysis
This market research report segments the online language learning market by Type (English, Mandarin, Spanish, and Others), Geography (APAC, Europe, North America, South America, and MEA), and Product (courses, solutions, and apps).
The APAC region led the online language learning market in 2020, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the emergence of Asia as the global hub for manufacturing and services.
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Some of the key topics covered in the report include:
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