Press release
Online Language Learning Market Expected to Grow at a CAGR of 18.7% to Reach $21.2 billion by 2027: Pre & post COVID-19 market estimates
Online Language Learning
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The growth in the online language learning market is mainly attributed to the factors such as globalization and rising need for communication across the borders, positive impact of COVID-19, and growing e-learning market & penetration of artificial intelligence in e-learning. In addition, the flexible pricing structure and introduction of wearable technologies are the current trends supporting the growth of this market. However, data security and privacy concerns are expected to hinder the growth of the online language learning market to some extent.
The global online language learning market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027 by product (SaaS, Apps, tutoring), mode (consumer, government, K-12, corporate), language (English, German, Japanese, Korean, Mandarin Chinese) and geography. The study also evaluates industry competitors and analyzes their market share at the global and regional level.
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Key findings in the global online language learning market study:
English language to generate large proportion of revenue compared to other language types in 2020
Based language type, English language is estimated to command the largest share of the overall online language learning market in 2020. Growing globalization, consciousness about developing English language skills, preference of English over other languages, and adoption of English as global language are some of the major factors increasing the adoption and demand for English language.
Software as a service to dominate the overall online language learning market in 2020
Based on product type, the software as service segment is estimated to command the largest share of the overall online language learning market in 2020. Reduced capital expenditure, swift implementation, and adoption of SaaS-based management systems in most of the organizations are some of the key factors driving the growth of this segment.
Consumer segment to dominate the overall online language learning market in 2020
Based on mode, the consumer segment is estimated to command the largest share of the overall online language learning market in 2020. 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.
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Key questions answered in the report-
Which are the high growth market segments in terms of product, mode, language, and regions/countries?
What was the historical market for online language learning across the globe?
What are the market forecasts and estimates for the period 2020-2027?
What are the major drivers, restraints, challenges, opportunities, and trends in the overall online language learning market?
Who are the major players in the overall online language learning market?
How is the competitive landscape and who are the market leaders in the overall online language learning market?
What are the recent developments in the overall online language learning market?
What are the different strategies adopted by the major players in the overall online language learning market?
What are the geographical trends and high growth regions/ countries?
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Geographic Reviews:
Geographically, Asia-Pacific region is estimated to command the largest share of the global online language learning market in 2020, followed by Europe, the Middle East & Africa, and Latin America. The growth in this region is expected to be driven by developing economies and growing influx of multinational companies. In addition, the increasing adoption of digitalization and government initiatives for online education are further expected to drive the market growth.
Key Players:
The key players operating in the global online language learning market are Berlitz Corporation (U.S.), Rosetta Stone Inc. (U.S.), Memrise Inc. (U.K.), Inlingua International Ltd. (Switzerland), Sanako Corporation (Finland), Duolingo Inc. (U.S.), Babbel (Germany), Busuu Ltd (U.K.), iTutor Group (Taiwan), Open Education LLC (U.S.), and Linguistica 360, Inc. (U.S.) among others.
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The name of our company defines our services, strengths, and values. Since the inception, we have endeavoured to research, analyze and present the critical market data with great attention to details. Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.
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