Growing acceptance of english language within the tourism, travel, and self-improvement drives the demand for engliish language learning market
The global English language learning market value was around USD 33.5 billion in 2018 and is expected to reach around USD 54.8 billion by 2025, growing at a CAGR of 7.1% in the forecast period. Studies reveal that with growing globalization, consciousness about necessity of developing English skills. Wall Street English revealed that 73% of the surveyed individuals hold an opinion that English learning shall become a necessity in the coming years. 65% respondents mentioned that English language is essential for relationship building on international platforms. 54% respondents mentioned that English language is essential for understanding specialist terminologies while around half of the respondents are willing to seek individuals with English language skills while hiring. One of the major factors assisting the growth of the global English language learning market is its adoption as a global language, as it is being spoken by almost 20% of the global population. English is also considered as a common communication language in government operations. English is the official language in around 34 countries of the world.
In the countries and markets where English is a basic necessity, the domestic language speakers often require English skills for procuring work permits and visa. Furthermore, for fulfilling the wish to participate in the international markets, more and more individuals and officials are seeking English language learning as English is the dominant language in this space. Therefore as the global market place is condensing, the demand for English learning in business and professional use shall expand.
There has been a prominent burst in the global population pool, with a majority section belonging to the educated-working class. Several individuals in this pool target developed nations as an ideal workplace and therefore augment their professional areas from non-native English speaking nations to English speaking nations. As a result of the same, the growing population has a large number of non-native English speaking individuals.
Furthermore, digitization of education sector has also significantly contributed to the growth in digital learning platforms offering English language learning solutions. Such learners can either opt for language learning programs or enroll or discussion programs. It is also reported that a majority of the digital English language learning platforms are artificial intelligence (AI) based. Adoption of artificial intelligence assist in development of tailor-made and customized learning solutions while efficiently tracking tuition progress. AI based learning solutions are also helpful in data assimilation from different sources and development of customized content. In similar fashion, chatbot assisted solutions are also facilitating in enabling conversations with students and therefore create interactive learning.
The global English language learning market is dominated by China, following by U.S. and Europe respectively. Other than this, the demand is exceeding supply for various significant players in Asia, that demand will have to be met either via Transnational Education (foreign qualifications delivered locally) and domestically through private providers which are either locally or foreign owned, thus potentially supporting the growth of private English Language organisations.
The market is highly fragmented in nature. The key players operating in the global English Language Learning market include Houghton Mifflin Harcourt Company, McGrew-Hill Education, New Oriental Education & Technology Group, and many more. Among of, New Oriental Education & Technology Group hold the highest market share of 5.97%. Following the New Oriental Education & Technology Group, McGrew-Hill Education hold the market share around 4.05% and Houghton Mifflin Harcourt Company hold 3.11%.
Segment Overview of Global Crime Risk Report Market
Type Overview, 2018-2028 (USD Billion)
- Thorough books
- In person course
Application Overview, 2018-2028 (USD Billion)
- For kids and teens
- For adults
- For business
- For education and tests
Regional Overview, 2018-2028 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America