The online language learning market is expected to grow by USD 21.57 billion during 2020-2024. The report also provides competitive insights into the market impact and new opportunities created due to the COVID-19 pandemic. According to the latest market research report by Technavio, the impact is going to be significant in the first quarter. It will eventually lessen the subsequent quarters – with a limited impact on the full-year economic growth.
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Technavio has announced its latest market research report titled Global Online Language Learning Market 2020-2024 (Graphic: Business Wire)
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Online language learning programs cost less when compared to offline learning programs. This is because they eliminate the need for classroom space, equipment, and other physical amenities. They also offer other benefits such as easy registration, the flexibility of timings, customized learning materials, live chats and forums, immediate feedback on quizzes and tests, and self-paced learning. Such benefits coupled with cost-effectiveness are increasing the acceptance of online learning language programs among learners, thereby driving market growth.
As per Technavio, the use of artificial intelligence (AI) in language learning will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024. To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41098
Online Language Learning Market: Increasing Use of AI in Language Learning
Vendors in the market are integrating the latest technologies such as AI to provide highly relevant and customized programs for learners. For instance, in October 2019, Ocelot developed an AI tool for English language learning, which uses a bilingual chatbot to offer services in English and Spanish for students as well as parents at colleges and universities. Similarly, Duolingo offers AI-powered chatbots for support in language learning. The company also offers virtual characters to make the language learning experience more interactive. This trend among vendors is expected to positively influence the growth of the global online language learning market during the forecast period.
“Mobile learning and gamification in language learning and the increasing enrolment of foreign students globally will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Online Language Learning Market: Segmentation Analysis
This market research report segments the online language learning market by Type (English, Mandarin, Spanish, and Others), Geographic (APAC, Europe, North America, South America, and MEA), and Product (courses, solutions, and apps).
The APAC region led the online language learning market in 2019, followed by Europe, North America, South America, and MEA respectively. With the emergence of Asia as the global hub for manufacturing and services, the APAC region can register the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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