LONDON--(BUSINESS WIRE)--Technavio has been monitoring the online language learning market and it is poised to decline by USD 21.57 billion during 2020-2024, decelerating at a CAGR of about 20% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a high impact on the online language learning market. The market growth in 2020 is likely to increase compared to market growth in 2019.
Frequently Asked Questions:
Based on segmentation by language, which is the leading segment in the market?
The English segment is the leading segment in the market.
What are the major trends in the market?
Artificial Intelligence (AI) in language learning is the major trend in the market.
At what rate is the market projected to grow?
The market is decelerating at a CAGR of about 20%.
Who are the top players in the market?
Cengage Learning Inc., Duolingo Inc., EF Education First Ltd., Houghton Mifflin Harcourt Co., McGraw-Hill Education Inc., New Oriental Education and Technology Group Inc., Pearson Plc, Rosetta Stone Inc., Sanako Corp., Voxy Inc. are the top players in the market.
What are the key market drivers and challenges?
The increasing enrollment of foreign students is driving the market. However, factors such as the threat from open sources will challenge the growth of the market.
How big is the APAC market?
45% of the market’s growth will originate from APAC during the forecast period.
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The market is fragmented, and the degree of fragmentation will decelerate during the forecast period. Cengage Learning Inc., Duolingo Inc., EF Education First Ltd., Houghton Mifflin Harcourt Co., McGraw-Hill Education Inc., New Oriental Education and Technology Group Inc., Pearson Plc, Rosetta Stone Inc., Sanako Corp., and Voxy Inc. are some of the major market participants. Although the increasing enrollment of foreign students will offer immense growth opportunities. However, factors such as the threat from open sources are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this online language learning market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Online Language Learning Market 2020-2024: Segmentation
Online Language Learning Market is segmented as below:
- North America
- South America
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Online Language Learning Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The online language learning market report covers the following areas:
- Online Language Learning Market Size
- Online Language Learning Market Trends
- Online Language Learning Market Industry Analysis
This study identifies artificial Intelligence (AI) in language learning as one of the prime reasons driving the online language learning market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Online Language Learning Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist online language learning market growth during the next five years
- Estimation of the online language learning market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the online language learning market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of online language learning market vendors
Table of Contents:
- Market ecosystem
- Market characteristics
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Courses - Market size and forecast 2019-2024
- Solutions - Market size and forecast 2019-2024
- Apps - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Language
- Market segments
- Comparison by Language
- English - Market size and forecast 2019-2024
- Mandarin - Market size and forecast 2019-2024
- Spanish - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Language
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume driver - Supply led growth
- Volume driver - Demand led growth
- Volume driver - Demand shift in adjacent markets
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Cengage Learning Inc.
- Duolingo Inc.
- EF Education First Ltd.
- Houghton Mifflin Harcourt Co.
- McGraw-Hill Education Inc.
- New Oriental Education and Technology Group Inc.
- Pearson Plc
- Rosetta Stone Inc.
- Sanako Corp.
- Voxy Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
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