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(HomeGarden247.com, July 27, 2022 ) According to a new market research report “English Language Learning Market by Methodology (Offline Learning, Online Learning, Blended Learning), End User (Individual, Education, Government, Corporate Learners) - Global Forecast to 2027”, published by Meticulous Research®, the English Language Learning Market is expected to grow at a CAGR of 6.2% from 2020 to reach $54.9 billion by 2027.
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English language learning solutions include various methodologies, such as offline learning, online learning, and blended learning. Penetration of artificial intelligence in e-learning, the rising importance of the English language for business and professional reasons, increased investments for English language learning start-ups and small companies, and affordable English language learning applications are the main driving factors. Furthermore, factors such as increasing investments in the education sector and transnational education represent high-growth opportunities for players operating in this market during the forecast period. However, factor such as data security & privacy concerns is expected to hinder the growth of this market to some extent.
Across the globe, technological advances have made the provision and management of English language learning more accessible. New technologies, such as the IoT, cloud computing, mobile Internet, and wearable gadgets, have resulted in the proliferation of English online language learning products and applications. Recent developments, such as the advent of social networking platforms, voice recognition, and computer video cameras, have further expanded the potential of technology to enhance language learning.
Due to the coherent benefits of these technologies, modernization of English and other foreign language learning has been the major focus of many companies, which has paved the way for online language learning platforms. Following this, neural network capabilities were utilized together with AI language education platforms to revolutionize education for students and teachers as well as the enterprise sector. AI algorithms have the potential to advance E-learning in every field. In language learning, AI personalizes teachings and lessons to each learner, reducing the time, cost, and frustration involved in completing online or app-based courses. The integration of AI helps in developing customized English language learning solutions and tracking the learners’ progress. Also, it helps in integrating data from different sources and customizing it for learners. Further, the introduction of wearable technology to learn languages is one of the key trends expected to gain traction in the corporate English language learning market.
Key questions answered in the report-
Which are the high growth market segments in terms of methodology, end-user, and region/countries?
What was the historical market for English language learning across the globe?
What are the market forecasts and estimates for the period 2020-2027?
What are the major drivers, restraints, opportunities, and trends in the global English language learning market?
Who are the major players in the English language learning market?
How is the competitive landscape and who are the market leaders in the global English language learning market?
What are the recent developments in the global English language learning market?
What are the different strategies adopted by the major players in the global English language learning market?
What are the geographical trends and high growth regions/countries?
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Impact of COVID-19 on the English Language Learning Market
The COVID-19 pandemic has significantly impacted the adoption of E-learning platforms. As most schools, colleges, and education institutes are closed, the focus on remote learning platforms has increased. Also, online E-learning platforms are turning out to be a big success in education, especially in schools and higher education, by increasing retention of information through virtual learning. Therefore, the adoption of online E-learning platforms, including English language learning platforms, is experiencing high growth and will continue to grow in the future.
Citing the high potential of this market, key players & governments are actively working to improve their online English language learning platforms. For instance:
• In August 2020, Rosetta Stone Inc. (U.S.) launched Rosetta Stone English for improving speaking, listening, and grammar for academic success. The company believed, due to the lack of blended programs, Rosetta Stone English could be made available to schools and educators to reach their Emergent Bilinguals during the pandemic. This program helps educators track and get detailed insight into students’ performance, whether learning is done in the classroom or remotely.
• The Ministry of Education in the U.K. has been working to increase the translation of COVID-19 materials and ensure that immigrant and refugee service centers also have access to ongoing learning materials.
However, the pandemic has led to decreased offline English language learning as schools are being operated online and by using blended learning.
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The overall English language learning market is primarily segmented by methodology (offline learning, online learning, blended learning), end user (individual learners, educational institutions, government institutes, corporate learners) and geography. The study also evaluates industry competitors and analyzes their market share at the global and regional level.
On the basis of methodology, the blended learning segment commanded the largest share of the overall English language learning market in 2020. The largest share of this segment is mainly attributed to its fact that this method is time & location independent. Moreover, the increasing need for personalized learning for students, rising importance for effective learning methodology, ability to manage learning at individuals’ own pace, and flexibility supported the largest share. However, due to the emergence of new technologies and improvement in digital tools and techniques available online, the online segment is gaining traction in coming years.
Based on end user, the overall English language learning (ELL) market is categorized into individual learners, corporate learners, education institutes, and government institutions. In 2020, the individual learners segment accounted for the largest share of the overall English Language Learning Market. Factors contributing to the large share of this segment include the increasing number of smartphone users, increasing K-12 settings & penetration of online learning, and the emergence of the coronavirus pandemic.
On the basis of geography, in 2020, Asia-Pacific region dominated the global English language learning market. The factors driving the growth of the Asia-Pacific English language learning market are growing government focus towards the education sector, high adoption of digital technologies in educational facilities, high education expenditure, rapidly developing economies, various schemes launched for supporting the digitization in education, and increasing disposable income leading to the penetration of the Internet.
The report also includes extensive assessment of the product portfolio, geographic analysis, and key strategic developments adopted by leading market participants in the industry over the past few years. The English Language Learning Market has witnessed number of partnerships and new product launches & approvals in the recent years.
The key players operating in the overall English language learning market are Cambridge University Press (U.K.), Rosetta Stone Inc. (U.S.), Sanako Corporation (Finland), Duolingo Inc. (U.S.), Transparent Language, Inc. (U.S.), Busuu, Ltd. (U.K.), New Oriental Education & Technology Group Inc. (China), Houghton Mifflin Harcourt (U.S.), Memrise Inc. (U.K.), McGraw-HillEducation, Inc. (U.S.), Lesson Nine GmbH (Germany), and ELSA Corp. (U.S.) among others.
TOP 10 COMPANIES IN ENGLISH LANGUAGE LEARNING MARKET @ https://meticulousblog.org/top-10-companies-in-english-language-learning-market/
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