Online Language Learning Market is Expected to Reach USD 41.63 Billion by 2030
As per the report published by Kings Research, the global Online Language Learning Market was valued at USD 15.26 billion in 2022 and is projected to reach USD 41.63 billion by 2030, growing at a CAGR of 13.74% from 2023 to 2030.
The rapid expansion of the internet and digitization has generated significant popularity for the e-learning industry. Digital language learning courses have become increasingly prevalent, with people from diverse nations opting for them. Advanced technologies, such as AI, are being incorporated into this sector to facilitate automated speech assessment and recognition. In addition, these technologies permit the creation of customized learning modules for each user, making language learning easier. These factors are driving the growth in the global language learning market.
For instance, Busuu Ltd., a UK-based language learning platform, has made online language learning lessons accessible to children. At the same time, Coursera, a US-based learning platform, has introduced a series of Spanish-language courses covering topics ranging from wellness to professional development.
- Based on the language, the English segment held the largest market share at 52.35% in 2022
- Based on type, the individual learner's segment generated the highest revenue of USD 9.97 billion in 2022
- On the basis of region, Asia-Pacific accounted for the largest market share of 48.31% in 2022
Chegg, Inc. to acquire Busuu
November 2021: Chegg, Inc., the student-centered connected learning platform, has declared an agreement to acquire Busuu, a prominent language learning platform with a user base of over 120 million learners worldwide across 160 countries. Busuu presently offers courses in 12 different languages and has over 500,000 paid subscribers.
Growing Implementation of Smarter Artificial Intelligence to Propel Market Growth
AI is increasingly being integrated into education, with applications such as automated assessment, speech recognition, and personalized educational resources. Virtual classrooms have become a prominent alternative to in-person learning during the COVID-19 pandemic, driving organizations to adopt digital learning modalities. This has resulted in a shift towards increased use of technology in Learning and Development, including digital language learning.
Additionally, In September 2021, the Indian Institute of Technology-Bombay (IIT-B) launched an AI-based software ecosystem that can convert scientific and technical content from English to Hindi and other Indian languages.
Asia Pacific Emerges as the Most Preferred Choice for Language Learning with the Fastest CAGR of 15.69% During the Forecasted Period
The Asia Pacific dominated the market share at 48.31% in 2022 and is growing at the fastest CAGR of 15.69% during the forecasted period. In this region, language learners have the option to choose between English, French, German, Japanese, and others. The Asia Pacific region is the most preferred choice for language learners and is expected to experience significant growth due to rising demand for language learning, as well as increasing investments and expansion by multinational corporations. Furthermore, the inclusion of language learning in the regional curriculum is expected to further fuel the growth of the language learning market over the forecast period.
Increasing Focus On Strategic Mergers and Acquisitions for Sustainable Growth
The market is fragmented with key players such as Rosetta Stone LLC., Berlitz Corporation, Memrise Limited, inlingua International Ltd., Sanako, Duolingo, Babbel GmbH, Transparent Language, Inc., Open Education LLC, and Cambridge University Press & Assessment. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.