LONDON–(BUSINESS WIRE)–#GlobalOnlineLanguageLearningMarket–The online language learning market is expected to grow by USD 18.61 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth according to the latest market research report by Technavio.
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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, which is driving market growth.
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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.
Online Language Learning Market: Artificial Intelligence (AI) in Language Learning
Vendors in the market are integrating the latest technologies such as AI to provide highly relevant and customized programs based on learners’ needs. 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 language learning experience more interactive. Such developments among vendors are expected to have a positive impact on 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 Product (Courses, Solutions, and Apps), Geography (APAC, Europe, North America, and South America), and Language (English, Mandarin, Spanish, and Others).
The APAC region led the online language learning market in 2019, followed by Europe, North America, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the emergence of Asia as the global hub for manufacturing and services.
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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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