LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global online language learning market to grow at a CAGR of close to 18% during the forecast period, according to their latest market research report.
The artificial intelligence (AI) in language learning is one of the major trends being witnessed in the global online language learning market 2019-2023. It has been found that the adoption of AI in language learning comparatively reduces the time taken in learning a language when compared with traditional methods of language learning. For instance, Duolingo offers AI-powered chatbots for support in language learning. The company has three bots (virtual) characters to make the language learning experience more interactive. The curriculum of online language learning platforms is highly relevant and customized as per the learners’ needs. For instance, the learning content is tailor-made for business learners, students, and travelers.
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According to Technavio analysts, one of the key factors contributing to the growth of the global online language learning market is the cost benefits and flexibility of online language learning:
Global online language learning market: Cost benefits and flexibility of online language learning
Online language learning programs cost less when compared with offline ones. Costs associated with the classroom space, equipment, and other physical amenities do not apply to online language learning programs.
According to a senior analyst at Technavio for research on education technology, “The minimum requirements of an online language learning program are the necessary software and hardware to register and complete the course assignments. Moreover, with the rapid digital penetration globally, online language learning apps and software are easily accessible.”
Global online language learning market: Segmentation analysis
The global online language learning market research report provides market segmentation by product (courses, solutions, and apps), by language (English, Mandarin, Spanish, and others), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major languages, English, Mandarin, and Spanish, the English language segment held the largest market share in 2018, contributing to 40% of the market. This language segment is expected to continue to dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2018, accounting for more than 39% share, followed by EMEA and the Americas respectively. The region is expected to continue to dominate the market during the forecast period.
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Market Landscape
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Market Sizing
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Five Forces Analysis
Market Segmentation
Geographical Segmentation
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