Online Foreign Language Learning overview
Foreign language learning has become a crucial part of the 21st century’s life-long learning process, so many people are learning a foreign language with different purposes like traveling abroad, working in an international job position, meeting new culture, or being interested enough to learn a new skill.
If we want to take a deep look at the learning market, we can find out that The online language learning market is changing at a rapid pace due to economic globalization and consideration the cost-efficient technology-based services. The growth in this market is majorly driven by the factors such as fulfilling the need for communication across borders, developing e-learning platforms,COVID-19 impact. Further, most of the people spending hours and hours on the education sector, and preference for multilingual employees by multinational companies provide growth opportunities for the players operating in the online language learning market.
Key Findings on choosing online language learning courses:
• 97% of all language learning platforms promote English language courses, French and German courses follow (both at 62%)
• Spanish courses on the fourth position with 51% of promotion.
• Other languages are promoted as follows: Italian (46%), Chinese (29%), Japanese(25%), Russian (22%) and Portuguese (21%).
• 78% of all customers opt for English language courses, 7% for French, 6% for German and 5%for Spanish;
• 87% of Asian students choose English, language preferences in Europe are more
diverse, with English being the choice of 74% students.
Market Size and Forecast
-According to an April 2020 market research report, the size of the global online language learning market in 2019was $5.92 Billion. The market is expected to reach $12.45 Billion by 2025.
-In an another report from July 2020,provides a growth trend in the language learning market, estimating that the market will reach $21.2 billion by 2027, a big change from growing from 2020 to2027.
-Also other valid resources like Technavio, estimated that the global online language learning market size will increase by $18.61 billion from 2020 to 2024.
-Market size of the global language learning industry from 2015 – 2025. (by language)
Online and Offline language learning market
It’s difficult to gather valid information about the offline language learning market, but one of the sources from 2016estimated that the size of the global offline English language learning market will be $28.1 billion in 2020.
Online Language Learning Market segments: Based on language type,
· Mandarin Chinese
· Other languages
SECOND LANGUAGESPEAKERS (IN MILLIONS)
Chinese is one of the most wide-spread mother tongues in the world, But English is the common choice for the second language.
In general, English language has the largest share of the overall online language learning market in 2020. Also, Chinese is expected to grow with the fastest CAGR during the forecast period, because of the international business relations with China and geographic expansion of Chinese companies in various regions, learning Chinese online is popular in recent years.
Based on service/product type,
Online platforms and software as services have the largest share of the overall online language learning market in 2020. The large share of this segment is mainly attributed to unnecessary expenses, better management systems, and faster performance in the learning process.
Based on Methodology,
· Online Learning
· Offline-classroom- based
· Blended Learning
Based on mode,
the consumer segment is estimated to command the largest share of the overall online language learning market in 2020. Because of the availability of the last updates on online platforms, efficiency of online learning courses, simple usage to follow up in any place and any time, the consumer segment has a large share in online learning platforms.
Language Learning Market Outlook
In this research, the market outlook section is mainly about intrinsic factors such as drivers and restraints, and also extrinsic factors such as challenges and opportunities. Increased demands of online courses and the growing scope of trends in the travel industry are good reasons to be potential drivers for the global online language learning market. Besides this, there are some concern factors for the online language learning market such as technological risks and duplicitous sources which can be counted as existed challenges to face.
Impact of COVID-19 on the Language Learning Market
The COVID-19pandemic had an undeniable impact on the overall language learning market. Due to the complete lockdown of all educational institutions, and physical presence prohibition, online learning and teaching have gained momentum. This could bean opportunity for online language learning businesses to boost their sale, and improve their brand awareness by gaining more learners. Moreover, learners benefit from this online learning pool due to the low cost, ease of usage, and better availability for them to access. the government is also taking initiatives for the growth of the education sector.