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North America Online Language Learning Market, by Learning Mode (Self-learning Apps & Applications, Tutoring), Age Group, Language (English, Mandarin, Spanish), End User (Individual Learners, Educational Institutions), and Country - Forecast to 2030
Report ID: MRICT - 104867 Pages: 180 Jun-2024 Formats*: PDF Category: Information and Communications Technology Delivery: 24 to 72 Hours Download Free Sample ReportThe North America Online Language Learning Market is projected to reach $5.7 billion by 2030, at a CAGR of 16.5% during the forecast period of 2024–2030. The growth of this market is driven by the growing need for cross-border communication due to globalization, the availability of cost-effective online language learning apps, and the adoption of artificial intelligence in E-learning. Additionally, the increasing preference for multilingual employees among multinational companies and the increasing investments in start-ups and small companies teaching English are expected to create market growth opportunities.
However, the reluctance to accept English as a primary communication language in some countries restrains the market’s growth. Furthermore, the high capital expenditure in developing countries is a major challenge for the players operating in this market. Wearable technologies, E-learning, and adoption of strategic teaching methods are prominent trends in the North America online language learning market.
Humans have moved to distant places to settle, trade, produce, and exchange goods throughout history. Globalization was propelled by the invention of steamships, railroads, and increasing economic cooperation among countries before World War I. However, the wave of globalization was revived after World War II, when the U.S. took initiatives to revive international trade and investment, which is still ongoing.
Globalization has brought people and cultures closer. However, to survive and thrive in a global economy, companies must overcome language barriers; hence the global economy is shifting away from the English-speaking world. Furthermore, it is observed that overseas consumers prefer information in their language, and it is estimated that 60% of online consumers hardly or never buy from English-only websites. Nearly 72.4% of customers are more likely to buy products with information in their native language.
The competition at the global level is increasing at a fast pace. Exports accounted for half of the post-recession economic growth in the U.S., and future growth will increasingly depend on selling goods & services to foreign consumers who do not necessarily speak English. Therefore, adopting online language learning platforms will witness high growth during the forecast period.
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In 2024, the Self-learning Apps Segment is Expected to Dominate the North America Online Language Learning Market
Based on learning mode, the North America online language learning market is broadly segmented into self-learning apps and tutoring. In 2024, the self-learning apps segment is expected to account for the largest share of the North America online language learning market. The large market share of this segment is attributed to the increasing demand for language learning apps across mobile devices and computers, the increasing recognition of the effectiveness and efficiency of self-learning apps, and the rising preference for self-paced learning. Moreover, the self-learning apps segment is projected to register the highest CAGR during the forecast period.
In 2024, the <18 years Segment is Expected to Dominate the North America Online Language Learning Market.
Based on age group, North America online language learning market is broadly segmented into <18 years, 18-20 years, 21-30 years, 31-40 years, and >40 years. In 2024, the <18 years segment is expected to account for the largest share of the North America online language learning market. The large market share of this segment is attributed to the rising demand for interactive and engaging learning experiences among young learners, the growing significance of language skills for cross-border collaboration and career advancement, and the increasing need for immersive and practical language practice. Moreover, the <18 years segment is projected to register the highest CAGR during the forecast period.
In 2024, the English Segment is Expected to Dominate the North America Online Language Learning Market
Based on language, the North America online language learning market is broadly segmented into English, French, Spanish, Mandarin, German, Italian, Arabic, Japanese, Korean, and other languages. In 2024, the English segment is expected to account for the largest share of the North America online language learning market. The large market share of this segment is attributed to the growing number of English language learners worldwide, the increasing emphasis on English language learning in educational institutions, and the growing popularity of English language proficiency tests such as TOEFL and IELTS.
However, the Mandarin segment is projected to register the highest CAGR during the forecast period due to the growing global demand for Mandarin-speaking professionals, economic growth and increasing business opportunities in China, rising interest in Chinese culture, and the growing need for Mandarin language learning for business communication.
In 2024, the U.S. is Expected to Dominate the North America Online Language Learning Market
Based on country, the North America online language learning market is segmented into the U.S. and Canada. In 2024, the U.S. is expected to account for the larger share of the North America online language learning market. The large market share of the U.S. is mainly attributed to the increasing number of international travelers, diverse population and multicultural society, globalization and international connections, rising disposable incomes, and steady immigration levels. Moreover, the market in the U.S. is projected to register the highest CAGR during the forecast period.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by major market players in the North America online language learning market in the last three to four years. The key players profiled in the North America online language learning market report are Berlitz Corporation (U.S.), Rosetta Stone, Inc. (U.S.), Memrise Inc. (U.K.), Inlingua International Ltd. (France), Sanako Corporation (Finland), Duolingo Inc. (U.S.), Babble GmbH (Germany), Busuu Limited (U.K.), Transparent Language, Inc. (U.S.), Open Education LLC (U.S.), Linguistica 360, Inc. (U.S.), Mondly (Romania), FluentU (A part of Enux Education Limited), Mango Languages (U.S.), Cambridge University Press (U.K.), New Oriental Education & Technology Group Inc. (China), Houghton Mifflin Harcourt Company (U.S.), McGraw-Hill Education, Inc. (U.S.), and ELSA Corp. (U.S.).
Scope of the Report:
North America Online Language Learning Market Assessment, by Learning Mode
North America Online Language Learning Market Assessment, by Age Group
North America Online Language Learning Market Assessment, by Language
North America Online Language Learning Market Assessment, by End User
North America Online Language Learning Market Assessment, by Country
Key questions answered in the report:
The North America online language learning market is projected to reach $5.7 billion by 2030, at a CAGR of 16.5% during the forecast period.
Factors such as the growing need for cross-border communication due to globalization, the availability of cost-effective online language learning apps, and the adoption of artificial intelligence in E-learning are driving the growth of this market.
The key players operating in the North America online language learning market are Berlitz Corporation (U.S.), Rosetta Stone, Inc. (U.S.), Memrise Inc. (U.K.), Inlingua International Ltd. (France), Sanako Corporation (Finland), Duolingo Inc. (U.S.), Babble GmbH (Germany), Busuu Limited (U.K.), Transparent Language, Inc. (U.S.), Open Education LLC (U.S.), Linguistica 360, Inc. (U.S.), Mondly (Romania), and FluentU (A part of Enux Education Limited).
The high capital expenditure in developing countries poses challenges for the players in this market.
The key growth strategies adopted by most companies in this market include agreements, collaborations, and partnerships. These strategies enable companies to strengthen their product portfolios and enhance their geographic reach in the North America online language learning market.
Published Date: Jul-2024
Published Date: Jul-2024
Published Date: Jul-2024
Published Date: Jul-2024
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