What is the most recent global market size for language education?
Worldwide language education is on the increase. One reason for this is the increased demand for multi-linguistic professionals. Many corporations in developing regions such as China, Brazil and India are investing in online programs and learning platforms to increase language education.
No longer is language education limited to reading a textbook. Largely due to advancements in technology the language learning process is continuing to evolve and expand. Growth is being driven by cloud based learning tools, e-learning resources and the use of online instructors.
In 2013 the market generated an impressive $34.78 billion. By 2015 self-paced e-learning accounted for 64% of the market share due to its flexibility and accessibility. From $34.78 billion in 2013 the market is predicted to rise by more than $45 billion by 2020. Current studies show that the market size for 2017 was $43 billion. This number is also predicted to increase to $47.5 billion by the year 2021.
Europe has the largest share of the global market, followed by the United States with a 34.72% share. The top competitors in online language learning are Linguatronics, Pearson, Sanako, SANS and TLS Communication.
Cloud based language learning has huge growth potential. This is attributed to many countries spending significantly on English language courses for foreign students enrolled in higher education institutions. Transparency Market Solutions found that the cloud based learning market was worth $146.3 million in 2016. With this number increasing to $427.5 million by 2025. Interestingly 50% of this revenue came from the United States.
Instructor led language training is expected to further grow at a compound annual growth rate (CAGR) of 19.85% during 2017-2021. By 2021 it is expected that this method of training will become mainstream.
The process of learning a new language has remarkably evolved over the last ten years. Due to technology advancements (as mentioned above) this sector is continuing to expand. With the current market size for 2017 being $43 billion and expected to reach $47.5 billion by 2021 we can see language education is more popular than ever.