Dubai, UAE, Sept. 15, 2023 (GLOBE NEWSWIRE) -- As per the recent report released by Kings Research, the global Online Language Learning Market size was recorded at USD 15.26 billion in 2022 and is estimated to grow to USD 41.63 billion by 2030, exhibiting a CAGR of 13.74% during the forecast period of 2023-2030. The market is experiencing robust growth due to the rising focus on bilingual and multilingual education, as well as an increase in job opportunities.
An educational approach called online language learning uses multimedia components such as text, speech, video, sound, and animation to make learning languages easier. It develops an interactive, self-paced learning environment that gives students the freedom to complete learning objectives regardless of where they are or when they can do so. These learning environments provide a variety of engagement tactics and several possibilities for participation to encourage learners' success. Online language learning programs frequently encourage peer and self-directed learning, fostering cooperative and long-lasting outcomes.
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Trending Now: Award-Winning Global Edtech Language Learning Platform, LingoAce, Crosses 10 Million Worldwide Classes as Demand Soars Among PreK-12 Learners
In June 2023, LingoAce, the top preK-12 online learning platform that fosters fluency and unlocks a world of opportunities, celebrated a major achievement: more than 10 million classes had been taught to kids throughout the globe in more than 100 different countries. Since its 2017 debut, LingoAce's acclaimed preK-12 online learning platform has expanded to include Mandarin Chinese and English language learning courses for students of different cultural and linguistic backgrounds.
Competitive Landscape
Leading companies operating in the global online language learning market are increasingly emphasizing mergers & acquisitions as their primary strategy for business growth. To cite an instance, the global online language learning platform Mondly was acquired by language learning giant Pearson in April 2022, allowing Pearson to offer a complete set of language learning and skill evaluation tools. Pearson's current collection of diagnostic, instructional, and assessment tools will broaden the spectrum of choices for users seeking English language learning solutions.
Key participants in the global online language learning market include:
- Rosetta Stone LLC.
- Berlitz Corporation
- Memrise Limited
- inlingua International Ltd.
- Sanako
- Duolingo
- Babbel GmbH
- Transparent Language, Inc.
- Open Education LLC
- Cambridge University Press & Assessment
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The global Online Language Learning Market is segmented as:
By Language
- English
- Spanish
- French
- German
- Chinese
- Japanese
- Others
Rising Demand for Fluent English Speakers Poised to Drive Market Expansion
Based on language, the English segment led the global online language learning market in 2022 and is expected to generate the highest revenue of USD 24.22 billion by 2030. The popularity of English courses in language learning can be explained by several factors. More than 1.5 billion people use English as their primary medium of communication today, making it a language that is recognized as being universal.
Consequently, there is still considerable demand for English language fluency, especially for people who seek education, career opportunities, and cultural immersion in English-speaking countries. The importance of English proficiency is further highlighted by the fact that many international organizations and multinational organizations have adopted English as their primary language for conducting business and communicating.
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By Type
- Individual learners
- Institutional learners
Online Language Learning Platforms Gain Popularity Among Individual Learners for Their Flexibility
Based on type, the individual learner segment held the largest share of the global online language learning market revenue in 2022 and is anticipated to reach a valuation of USD 25.45 billion by 2030. Individual learners, especially those with corporate backgrounds, are the primary user group for online language learning products and services. These learners seek to improve their language skills in order to increase their opportunities for employment, enable effective communication in diverse international settings, and overcome language barriers in professional situations.
Busy professionals can handle their work obligations while learning a language at their own pace and convenience due to the flexibility offered by online language learning platforms. Additionally, companies are increasingly investing in language training programs to improve the skill sets of their workers and keep up with competition in the global marketplace.
Rising Integration of AI in Education Sector to Stimulate Product Demand
The education sector is progressively integrating AI, which offers features including automated evaluation, speech recognition, and customized learning materials. Institutions have adopted online learning methods as a result of the accessibility of virtual classrooms as an alternative to traditional classroom teaching, especially in light of the COVID-19 outbreak. As a result, there is a noticeable trend towards increased technological integration in Learning and Development, including online language learning.
Furthermore, the Indian Institute of Technology-Bombay (IIT-B) also introduced an AI-driven software ecosystem in September 2021 that can translate technical and scientific content from English to Hindi and other Indian languages.
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Language Learning Integration into Educational Curriculum Set to Fuel Major Growth in Asia Pacific
The Asia Pacific region is likely to be the largest market for online language learning in the upcoming years, accruing a valuation of USD 22.90 billion by 2030. Individuals who seek to learn a new language can choose from a wide range of options in the region, including English, French, German, Japanese, and other languages. Additionally, the regional market is developing as a result of increased investments, efforts by international corporations to expand, and a rise in the demand for learning new languages. Furthermore, the language learning industry is estimated to expand rapidly in the near future as a result of the integration of language learning into the regional educational curriculum.
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Key Points from TOC:
Chapter 1 Introduction of the Global Online Language Learning Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
Chapter 2 Executive Summary
Chapter 3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
Chapter 4 Global Online Language Learning Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter’s Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Online Language Learning Market, By Language
Chapter 7 Global Online Language Learning Market, By Type
Chapter 8 Global Online Language Learning Market, By Geography
Chapter 9 North America
Chapter 10 Europe
Chapter 11 Asia-Pacific
Chapter 12 Middle East & Africa
Chapter 13 Latin America
Chapter 14 Global Online Language Learning Market Competitive Landscape
14.1 Overview
14.2 Key Developments
14.3 Key Strategic Developments
14.4 Company Market Ranking
14.5 Regional Footprint
14.6 Industry Footprint
Chapter 15 Company Profiles
15.1 Rosetta Stone LLC.
15.1.1 Key Facts
15.1.2 Financial Overview
15.1.3 Product Benchmarking
15.1.4 Recent Developments
15.1.5 Winning Imperatives
15.1.6 Current Focus & Strategies
15.1.7 Threat from competition
15.1.8 SWOT Analysis
15.2 Berlitz Corporation
15.2.1 Key Facts
15.2.2 Financial Overview
15.2.3 Product Benchmarking
15.2.4 Recent Developments
15.2.5 Winning Imperatives
15.2.6 Current Focus & Strategies
15.2.7 Threat from competition
15.2.8 SWOT Analysis
15.3 Memrise Limited
15.3.1 Key Facts
15.3.2 Financial Overview
15.3.3 Product Benchmarking
15.3.4 Recent Developments
15.3.5 Winning Imperatives
15.3.6 Current Focus & Strategies
15.3.7 Threat from competition
15.3.8 SWOT Analysis
15.4 inlingua International Ltd.
15.4.1 Key Facts
15.4.2 Financial Overview
15.4.3 Product Benchmarking
15.4.4 Recent Developments
15.4.5 Winning Imperatives
15.4.6 Current Focus & Strategies
15.4.7 Threat from competition
15.4.8 SWOT Analysis
15.5 Sanako
15.5.1 Key Facts
15.5.2 Financial Overview
15.5.3 Product Benchmarking
15.5.4 Recent Developments
15.5.5 Winning Imperatives
15.5.6 Current Focus & Strategies
15.5.7 Threat from competition
15.5.8 SWOT Analysis
Browse Complete TOC: https://www.kingsresearch.com/toc/online-language-learning-market-41
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