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Digital Language Learning Market Report 2024 - Digital Language Learning Market Share And Trends
Digital Language Learning Market
According to The Business Research Company's, The digital language learning market size has grown exponentially in recent years. It will grow from $24.53 billion in 2023 to $29.64 billion in 2024 at a compound annual growth rate (CAGR) of 20.8%. The growth in the historic period can be attributed to internet access expansion, globalization and multilingualism, demographic shifts and immigration, and education reform and language curriculum adaptation.
The digital language learning market size is expected to see exponential growth in the next few years. It will grow to $64.01 billion in 2028 at a compound annual growth rate (CAGR) of 21.2%. The growth in the forecast period can be attributed to increasing demand for remote learning solutions, globalization and cross-cultural communication, personalized and adaptive learning, integration with education systems, and rise of mobile learning. Major trends in the forecast period include career advancement and job opportunities, personalization and customization, adaptive learning technologies, gamification and immersive learning, and blended learning models.
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Market Drivers and Trends:
The rising demand for online education is expected to propel the digital language learning market going forward. Online education refers to delivering educational content and instruction via the internet. The demand for online education is rising due to its flexibility, accessibility, and quality of remote learning options, driven by technological advancements and evolving learning needs. Online education facilitates digital language learning by providing access to various interactive resources, personalized learning experiences, and real-time practice and feedback opportunities. For instance, in January 2022, according to the World Economic Forum, a Switzerland-based non-governmental organization, online education enrollment on Coursera Inc., a US-based massive open online course provider, increased from 143 million in 2020 to 189 million in 2021. Therefore, the rising demand for online education is driving the growth of the digital language learning market.
Major companies in the digital travel market prioritize introducing intelligent and advanced solutions, including digital apps, to enhance user experience and streamline travel processes. Digital apps provide convenient access to information, services, and entertainment, often allowing users to customize their experience based on their preferences and needs. For instance, in February 2023, Lufthansa, a Germany-based airline company, launched a digital travel companion app. This app provides travelers with the latest updates and relevant information while traveling with a redesigned and optimized interface. Additionally, the new software has self-service tools to assist travelers during operational peaks, an easy-to-use digital wallet for seamless payment processing, and an intuitive check-in procedure.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Pearson plc, McGraw-Hill Education Holdings LLC, Cambridge University Press, Udemy Inc., Coursera Inc., Duolingo Inc., italki HK Limited, Babbel GmbH, Varsity Tutors, Rosetta Stone Inc., Verbling Inc., edX Inc., Lingoda GmbH, Busuu Limited, Mango Languages a division of HarperCollins Publishers LLC, Oxford University Press, Memrise Limited, Pimsleur Language Programs, Tandem Fundazioa, Yabla Inc., FluentU Inc., Living Language, EF Education First Ltd., Transparent Language Inc., Berlitz Corporation
Digital Language Learning Market 2024 Key Insights:
• The digital language learning market size is expected to see exponential growth in the next few years. It will grow to $64.01 billion in 2028 at a compound annual growth rate (CAGR) of 21.2%.
• Fueling Growth The Intersecting Forces of Online Education and Digital Language Learning
• Innovations In Language Learning Applications Enhancing User Engagement And Proficiency
• Asia-Pacific was the largest region in the digital language learning market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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