REDDING, Calif., July 2, 2021 /PRNewswire/ -- According to a new market research report "English Language Learning Market by Methodology (Offline, Online, 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 2027 to reach $54.92 billion by 2027.
Language learning is a process by which learners acquire the ability to learn more than one language. Being bilingual provides an economic edge and acts as a bridge between cultures. Additionally, as students move to different countries to pursue better education, offline, blended, and online language learning courses are widely adopted to improve communication skills.
The growth of the overall English language learning market is mainly attributed to the integration of artificial intelligence in e-learning, the rising importance of the English language for business and professional reasons, an increase in the investments for English language learning start-ups and small companies, and the minimal cost of English language learning applications. However, data security & privacy concerns are expected to hinder the growth of the English language learning market marginally.
Penetration of AI in E-learning Propels the English Language Learning Market
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 video offerings, 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.
Increase in the Investments for English Language Learning Start-ups and Small Companies
Education start-ups are evolving rapidly to cater to the needs of hundreds of millions of non-English medium students and individual learners for English language training. The global demand for higher education is expected to increase through 2040, and nearly 600 million students will be enrolled in universities around the world by 2040. According to a report prepared by Google Inc. (U.S.), there will be 280 million students enrolled in schools by 2021. This large number of students presents a unique opportunity for education start-ups to expand their product portfolio for English language learning platforms. Several companies, including start-ups, have received investments for accelerating the English language learning platforms.
Key Findings in the English Language Learning Market Study
The overall English language learning market is segmented based on methodology, end user, and geography.
Based on methodology, the English language learning market is categorized into blended learning, offline learning, and online learning. In 2020, the blended learning segment accounted for the largest share of the overall English language learning (ELL) market. Factors contributing to the large share of this segment include the increasing need for personalized learning for students, rising importance for effective learning methodology, the ability to manage to learn at individuals' own pace, and flexibility.
Based on end user, the English language learning market is categorized into individual learners, educational institutions, government institutions, and corporate learners. In 2020, the individual learners segment accounted for the largest share of the overall English language learning (ELL) market due to the growing accessibility to internet, increase in mobile phone user base, and consistent launch of mobile apps at reasonable prices by key players.
Based on geography, the global English language learning market is categorized into five major regions: Europe, North America, Asia-Pacific, Latin America, and the Middle East & Africa. In 2020, Asia-Pacific accounted for the largest share of the global English language learning market, followed by Europe, and North America. The large share of this region is mainly attributed to the growing government focus towards the education sector, high adoption of digital technologies in educational facilities, and high education expenditure in the region. In addition, rapidly developing economies, various schemes launched for supporting the digitization in education, and increasing disposable income leading to the penetration of the Internet are the other factors contributing to the high growth of the APAC English language learning market.
Some of the key players operating in the global English language learning market are Cambridge University Press, Rosetta Stone Inc., Sanako Corporation (Finland), Duolingo Inc., Transparent Language, Inc., Busuu, Ltd., New Oriental Education & Technology Group Inc., Houghton Mifflin Harcourt, Memrise Inc., McGraw-Hill Education, Inc., Lesson Nine GmbH, and ELSA Corp among others.
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