B2B segment is growing at a highest CAGR of 17.4% during the forecast period
Latest market study on "Asia-Pacific Digital English Language Learning Market to 2027 by Product Type (On-premise and Cloud); Business Type (Business-to-Business and Business-to-Customer); End User (Corporate and Academic (Pre- Kindergarten, Primary Education (till Grade 6), Secondary Education (High School), Higher Education (above K-12))) –Analysis and Forecast", The digital English language learning market across Asia-Pacific was valued at US$ XX Mn in 2018 and is expected to grow at a CAGR of 17.2% during the forecast period 2019 – 2027, to account for US$ 5,974.6 Mn by 2027. The report includes key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Digital English language learning market operates in a highly-fragmented and competitive marketplace. As leading companies in this market continues to broaden its addressable market, by expanding its current product portfolio, diversifying its client base, and developing new applications and markets, all the prominent players faces an increasing level of competition, both from start-ups as well the leading established companies in the world. Various companies in the value chain are acquiring other players in the market to maintain their position in market and provide efficient solutions to its customers.
Further, with increasing penetration of Artificial Intelligence (AI) in the technological sector, the English Language learning industry is further expected to undergo a significant change. Incorporation of Artificial Intelligence in the English Language Learning tools enable provisioning customized language learning solutions based on the data assembled from multiple sources. Many other tools are also being put to R&D and then commercial uses to make English language learning more interactive and easy.
Digital learning as a whole is considered to be one of the catalyst for personalized education teaching that allows the next generation of learning models to bring transformational changes. Digital learning empower students with a more broadened horizon of learning content through the use of different tools that simplify the learning processes by making it much more interactive. Further, digital English language learning also empowers the teachers as well as the students to have a continuous visibility on their learning progress, and based on that they can assess the move to higher levels. The availability of broad spectrum of knowledge as well as resources at just a few clicks of the mouse, coupled with the availability of instant mentors from any part of the world have shifted the horizons of learning experiences.
In the current market scenario, an increasing trend among the Asian students to enroll themselves in universities located in the western countries for higher education including post-graduation. Majority of the candidates from Asian countries especially India and China enroll themselves for Test of English as a Foreign Language (TOEFL), International English Language Testing System (IELTS), Graduate Record Examination (GRE), and Test of English for International Communication (TOEIC). The Test of English as a Foreign Language (TOEFL), International English Language Testing System (IELTS) are the tests conducted to asses a non-native candidate’s English fluency level. Pertaining to the fact that, these examinations and the universities and schools which accept these examination qualified students, require proper English speaking and writing skills. This factor compels the enrolling candidates to opt for English Language Training (ELT) institutes. The burgeoning demand for these competitive exams has led to the establishment of various English Language Training (ELT) institutions across the countries, which in turn has catalyzed the different methods of English learning techniques. Owing to the fact that, various schools, colleges and universities in India and China have adopted the digital learning technologies, and the trend of adoption of the same is consistently increasing.
The key companies operating in the field of Digital English Language Learning that are profiled in the report include Cambridge University Press, Cengage/ National Geographic Learning, EF Education First, English Language Institute China, Mcgraw-Hill Education, Oxford University Press, Pearson ELT, Sanako Corporation, Springer Nature Limited, and Transparent Language, Inc. among others. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.
The report segments the Asia-Pacific Digital English Language Learning Market as follows:
Asia-Pacific Digital English Language Learning Market – By Product
Asia-Pacific Digital English Language Learning Market – By Business Type
Asia-Pacific Digital English Language Learning Market – By End-user
Asia-Pacific Digital English Language Learning Market – By Country