(I-BusinessNews.Com, August 27, 2019 ) Meticulous Research®– leading global market research company published a research report titled “Online Language Learning Market by Product (Course, Solution, Support), Type (English, French, Spanish, Mandarin, Arabic, Japanese, Italian, German), End (Individual, Corporate, Educational Institution, Government Institution)- Global Forecast to 2025”. According to this latest publication from 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 growth in online language learning market is mainly attributed to the globalization and growing need for communication across borders, growing E-learning market, and rise in number of online language learning start-ups. Moreover, technological advancements, flexible pricing structure, and growing competition are the major trends in this market. However, high cost of implementation and regulations pertaining to data security and privacy are the key factors expected to hinder the adoption of online language learning products and services.
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Growth Prospects in Online Language Learning Market
The global online language learning market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2025-by product (courses, solutions, and support), by type (English, French, Spanish, Mandarian Chinese, German, Italian, Arabic, Japanese, Korean, and Other language), end user (individual learners, corporate learners, educational institutions, and government institutions), and geography. The study also evaluates industry competitors and analyzes the market at a regional and country level.
Based on product, the courses segment is estimated to account for the largest share of the overall online language learning market in 2019. The growing need for higher level skills in the workforce, an increasingly diverse student population, globalization, and the demand for lifelong learning are the key factors attributed to rising demand for multiple language learning courses.
Based on language type, English language 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 the growing need of learning English for businesses to communicate with customers, employees, and officials in the target market.
On the basis of end user, the individual learners segment is estimate to hold the largest share in the global online language learning market in 2019. This is primarily attributed 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.
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This research report analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia, Poland, the Netherlands, Belgium, Sweden, Austria, Switzerland, Finland, Norway, Turkey, Ireland, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Taiwan, Hongkong, New Zealand, and RoAPAC), Latin America (Brazil, RoLATAM), and Middle East & Africa (Saudi Arabia, and others).
Geographically, Europe commanded the largest share of the global online language learning market, followed by North America and Asia Pacific. However, Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Growth in this market is expected to be driven by 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.
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.
Key questions answered in the report-
Which are the high growth market segments in terms of product, type, end user, and region/countries?
What was the historical market for online language learning across the globe?
What are the market forecasts and estimates for the period 2019–2025?
What are the major drivers, restraints, challenges, and opportunities in the global online language learning market?
Who are the major players in the global online language learning market?
How is the competitive landscape and who are the market leaders in the global online language learning market?
What are the recent developments in the global online language learning market?
What are the different strategies adopted by the major players in the global online language learning market?
What are the geographical trends and high growth regions/ countries?
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