London, Aug. 13, 2019 (GLOBE NEWSWIRE) -- According to a new market research report “Online Language Learning Market by Product (Courses, Solutions, Support), Type (English, French, Spanish, Mandarin, Arabic, Japanese, Italian, German), End-user (Individual, Corporate, Government Institutions)- Global Forecast to 2025”, published by Meticulous Research®, the global online language learning market is expected to grow at a CAGR of 13.1% from 2019 to reach $10.5 billion by 2025.
The language learning market is changing at a rapid pace due to the globalization of the economy and the adoption of cost-efficient technology-based products. Across the globe, technological advances have made the provision and management of online learning more accessible. New technologies such as the Internet of Things, cloud computing, and wearable gadgets have resulted in the proliferation of online language learning products and applications. Recent developments such as social networking platforms, improved voice recognition, and computer video cameras have further expanded the potential of technology to enhance language learning. Artificial intelligence, the Internet of Things (IoT), and automation will have the greatest contribution to the growth of online language learning market in the coming years. Big data analytics and cloud technology will help in creating a more efficient learning systems and designing of customized content, with new and innovative means of analyzing unprecedented amount of data from various parts of the world. Technologies such as Innovative Smart Devices (Wearables and e-learning applications) and analytics will have the potential to revolutionize e-learning through remote learning.
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The overall online language learning market is mainly categorized by product (courses, solutions, and support), language (English, French, Spanish, Mandarin, German, Italian, Arabic, Japanese, Korean, and Others), end-user (individual learners, corporate learners, educational institutions, and government learners), and geography. Solutions market is further segmented into software and apps.
Based on product type, courses segment is estimated to account for the largest share of the overall online language learning market in 2019. The large share of this segment is mainly attributed to need for higher level skills in the workforce, an increasingly diverse student population, globalization, and the growing demand for lifelong learning.
Based on language type, English language segment is estimated to command the largest share of the overall online language learning market in 2019. The large share of this segment is mainly attributed to the growing need of learning English for businesses to communicate with customers, employees, and officials in the target market which increases the need for online English language learning to overcome language barriers.
On the basis of end user, the individual learners segment held the largest share of the global online language learning market, mainly due to growing demand for second language learning, need for personalized content, rising number of enrollments in foreign universities, and growing trend to find better opportunities in foreign countries.
Geographically, Asia-Pacific online language learning market is expected to register the highest growth during the forecast period (2019-2025). The emerging economies in the region, rising enrolment in online higher education, influx of multinational companies, significant young population looking for better job opportunities, increasing penetration of smartphones, increasing digitization of content, government initiatives for national online education networks and shortage of teachers in rapidly developing countries are the major factors likely to spur the growth of online language learning market in this region.
The report also includes extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 5 years (2015–2019). The online language learning market has witnessed number of agreements, partnerships, & collaborations in the recent years. For instance, in June 2019, Rosetta Stone Inc. and HIAS entered into partnership to make language learning software available for refugee resettlement process. Similarly, in October 2018, Berlitz signed a Master Franchise Agreement with Shanghai CIIC International Training Center to provide kids and teens products across China.
The online language learning market is competitive, rapidly evolving, and highly fragmented in nature. The key players operating in the global online language learning market are Berlitz Corporation, Rosetta Stone Inc., Memrise Inc., Inlingua International Ltd., Sanako Corporation, Duolingo Inc., Lesson Nine GmbH, Busuu Ltd, WeSpeke Inc., iTutor Group, Open Education LLC, and Linguistica 360, Inc. among others.
Browse key industry insights spread across 217 pages with 205 market data tables & 40 figures & charts from the report: https://www.meticulousresearch.com/product/online-language-learning-market-5025/
Scope of the Report:
Market by Product
Market by Type
Market by End user
Market by Geography
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