July 06, 2020
According to the research report titled ‘Global Online Language Learning Market – Analysis By Product, Language, By Region, By Country: Opportunities and Forecast (2020-2025)’, available with Market Study Report LLC, global online language learning market was worth USD 11893.8 million in 2019 and is expected to record substantial growth during 2020-2025.
Online language learning has been witnessing considerable growth in the recent past primarily due to growing and changing requirements of candidates to speak several languages. Surging demand of multilingual employees by multinational companies, increasing economic diversification, and rapid globalization are also positively impacting the market growth over the anticipated timeline. Moreover, increase in disposable income, rapid urbanization, and other socio-economic factors are fueling the market expansion.
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Based on product type, the online language learning market is divided into support, solutions, and courses. The report states that courses segment holds a significant share in global online learning market and is expected to register commendable growth in the ensuing years. High demand for multilingual employees by corporates and growth in international business activities has allowed for interactions between clients & customers from various nations, which in turn is facilitating the segmental growth.
From the regional point of view, global online language learning market is fragmented into Asia Pacific, Europe, and North America. The report cites that Asia Pacific holds a substantial market share in global online language learning industry, owing to the escalating expenditure on online courses. In addition, rising demand for learning multiple languages in order to communicate with different officials, employees, and customers is favoring the market expansion in the region.
The leading organizations in global online language learning market are EF Education First, Houghton Mifflin Harcourt, Sanako, Rosetta Stone, Duolingo, and Pearson Plc among others.