Liz Granirer reports in the latest E L Gazette:
The online English language learning market is forecast to be worth a staggering US$31.81 billion within seven years’ time. According to the Online Language Learning Market research by meticulousresearch.com, the huge growth predicted for this field is being driven by the following factors...Online English learning to fill coffers | E L Gazette
Here's that report in full:
The growth of this market is driven by globalization and the growing need for cross-border communication, the growing E-learning market, and the penetration of artificial intelligence in E-learning. However, data security and privacy concerns are expected to restrain the growth of this market to some extent. The increasing spending on the education sector, the rising Internet and smartphone user base, and the growing preference for a multilingual workforce by multinational companies are expected to provide significant growth opportunities in this market. However, the high implementation cost is expected to pose a major challenge to the growth of this market. The flexible pricing structure and introduction of wearable technologies are some of the major trends in this market.Online Language Learning Market Worth $31.81 billion by 2029 | Meticulous Market Research Pvt. Ltd.
There's been quite a bit of interest in the report:
English Language Learning Market to be Worth $69,623.1 Million by 2029 - Digital Journal
As the research shows, the market has been expanding for some time now:
These 3 charts show how online learning is growing globally | World Economic Forum
Duolingo: On The Path To Massive Profitability (NASDAQ:DUOL) | Seeking Alpha
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