Technology
English Language Learning Market to be Worth $91.1Billion by 2031 – Exclusive Report by Meticulous Research®
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REDDING, Calif., Dec. 3, 2024 /PRNewswire/ — According to a new market research report titled, ‘English Language Learning Market Size, Share, Forecast, & Trends Analysis Methodology (Blended, Offline, Online), Learning Mode, Age Group, End User (Individual Learners, Educational Institutes, Government Bodies, Corporate Learners)—Global Forecast to 2031.
The English Language Learning market is expected to reach $91.1 billion by 2031, at a CAGR of 10.6% from 2024 to 2031.
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English is a lingua franca, or a common language, that enables people who do not share a dialect to communicate. Learning English helps individuals build trust with colleagues and clients, improve international relationships, enhance their skill set, command a higher salary, and foster cultural understanding. Proficiency in English also enhances a person’s skill set, making them more competitive in the global job market. It often leads to higher salaries, as employers value employees who can effectively communicate with international clients and partners.
Moreover, learning English promotes cultural understanding, allowing individuals to appreciate and engage with diverse perspectives, which is essential for strengthening international relationships in an increasingly interconnected world.
The growth of this market is driven by the rising importance of English in business & professional areas, increasing investments in start-ups & small companies teaching English, and the minimal cost of English language learning apps. However, reluctance to accept English as a primary communication tool in some countries may restrain the growth of this market. The increasing spending on the education sector and transnational education (TNE) is expected to create market growth opportunities. However, the shortage of trained professionals to teach English is a major challenge for the players operating in this market.
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Additionally, artificial intelligence (AI) & robot technology and e-learning are major trends in the global English language learning market.
English Language Learning Industry Overview: Latest Developments from Key Industry Players
In November 2023, Babbel (Germany) partnered with the FSC Indigenous Foundation (Panama), a global Indigenous organization working with and for Indigenous peoples worldwide, to offer English lessons to Indigenous Peoples around the world. Babbel will support Indigenous Peoples with the self-paced learning app as well as its live classes with teachers to learn English.In June 2022, Duolingo (U.S.) partnered with HBO Max (U.S.) for an HBO Original series, House of the Dragon. The company launched an updated High Valyrian course, the fictional language spoken in the show, including over 150 new words and more than 700 new sentences.In April 2022, Udemy (U.S.) partnered with WOONGJIN THINKBIG Co Ltd (South Korea), an education company, to expand the company’s global footprint, bringing Udemy and its corporate learning solution, Udemy Business, to more learners, instructors, and organizations in the Korean market.
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The English language learning market is segmented based on methodology (blended learning, offline learning, online learning), learning mode (self-learning apps and applications, tutoring (one-on-one learning, group learning), age group (<18 years, 18–20 years, 21–30 years, 31–40 years, >40 years), end user (individual learners, educational institutes (k-12, higher education), government bodies, corporate learners), and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.
Based on methodology, the global English language learning market is segmented into blended learning, offline learning, and online learning. In 2024, the blended learning segment is estimated to account for the largest share of the English language learning market. This segment’s large market share is attributed to the increasing need for personalized learning for students, the rising importance of effective learning methodology, the increasing demand for personalized learning, the rise in the adoption of advanced offline & online learning systems for students and working professionals, the ability to manage to learn at individuals’ own pace, and flexibility. However, the online learning segment is projected to register the highest CAGR during the forecast period.
Based on learning mode, the global English language learning market is segmented into self-learning apps and applications and tutoring. The tutoring segment is further segmented into one-on-one learning and group learning. In 2024, the tutoring segment is estimated to account for the largest share of the English language learning market. This segment’s large market share is attributed to the increasing need for personalized and flexible one-to-one language learning experiences, growing investment in e-learning tools and technologies to enhance the teaching experience, and the increasing demand for cost-effective programs to address the knowledge gap in students. However, the self-learning apps and applications segment is projected to register the highest CAGR during the forecast period.
Based on age group, the global English language learning market is segmented into <13 years, 13-17 years, 18- 20 years, 21-30 years, 31-40 years, and >40 years. In 2024, the <13-17 years segment is expected to account for the largest share of the global English language learning market. The large market share of this segment is attributed to the increasing digitization of public schools, the rising number of English learners, the significant increase in smartphone users, the increasing demand for kids’ learning apps, the rising preference for interactive and engaging learning experiences, and increasing need for immersive and practical language practice. Moreover, the <13 years segment is projected to register the highest CAGR during the forecast period. The integration of immersive technologies like AR/VR to create practical and visually stimulating learning experiences further supports the rapid growth of the <13 years segment in the English language learning market.
Based on end user, the global English language learning market is segmented into individual learners, educational institutes, government bodies, and corporate learners. The educational institutes segment is further segmented into K-12 and higher education. In 2024, the individual learners segment is estimated to account for the largest share of the English language learning market. This segment’s large market share can be attributed to the increasing adoption of smart devices, greater internet penetration, the growing need for live content transmission on the internet to enhance brand engagement and reach students, and the rising number of established language learning platforms.
Based on geography, the English language learning market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is estimated to account for the largest share of the English language learning market. This region’s large market share is attributed to factors such as the growing need for improved communication across borders, increased access to language learning platforms, rising investments in online language learning start-ups and small companies, and increasing government initiatives aimed at digitizing education. Additionally, rapid growth in internet and smartphone penetration, the rising adoption of AI-based language learning applications, an expanding middle-class population with higher disposable incomes, and the growing emphasis on English proficiency for better employment opportunities in global markets are further driving the region’s growth.
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The report also includes an extensive assessment of the key growth strategies adopted by the leading market participants between 2021 and 2023. The English Language Learning Market is consolidated and dominated by a few major players, namely Cambridge University Press (U.K.), New Oriental Education & Technology Group Inc. (China), Houghton Mifflin Harcourt Company (U.S.), McGraw-Hill Education, Inc. (U.S.), Duolingo Inc. (U.S.), Berlitz Corporation (U.S.), Busuu Ltd (U.K.), Babbel GmbH (Germany), Linguistica 360, Inc. (U.S.), Mondly (Romania), ELSA Corp. (U.S.), FluentU (A part of Enux Education Limited) (China), Memrise Inc. (U.K.), Mango Languages (U.S.), Rosetta Stone Ltd. (A part of IXL Learning, Inc.) (U.S.), Inlingua International Ltd. (Switzerland), Sanako Corporation (Finland), Transparent Language, Inc. (U.S.), and Open Education LLC (U.S.).
Scope of the Report:
English Language Learning Market Assessment—by Methodology
Blended LearningOffline LearningOnline Learning
English Language Learning Market Assessment—by Learning Mode
Self-learning Apps and ApplicationsTutoringOne-on-One LearningGroup Learning
English Language Learning Market Assessment—by Age Group
<13 Years13-17 Years18-20 years21-30 years31-40 years>40 years
English Language Learning Market Assessment—by End User
Individual LearnersGovernment BodiesCorporate LearnersEducational InstitutesK–12Higher Education
English Language Learning Market Assessment—by Geography
North AmericaU.S.CanadaEuropeGermanyU.K.FranceItalySpainRussiaPolandNetherlandsBelgiumSwedenAustriaSwitzerlandFinlandNorwayTurkeyIrelandLuxembourgRest of EuropeAsia-PacificChinaJapanSouth KoreaIndiaIndonesiaAustralia & New ZealandTaiwanHong KongSingaporeMalaysiaVietnamRest of Asia-PacificLatin AmericaBrazilMexicoRest of Latin AmericaMiddle East & AfricaUAESaudi ArabiaRest of Middle East & Africa
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Online Language Learning Market Size, Share, Forecast, & Trends Analysis by Learning Mode (Self-learning Apps & Applications, Tutoring), Age Group, Language (English, Mandarin, Spanish), End User (Individual Learners, Educational Institutions), and Geography – Global Forecast to 2031 – https://www.meticulousresearch.com/product/online-language-learning-market-5025
Online Language Tutoring Market by Learning Mode (One-on-one, Group), Age Group (<18 Years, 18–20 Years), Language, End User (Individual Learners, Educational Institutes, Government Bodies, Corporate Learners), and Geography – Global Forecast to 2030 – https://www.meticulousresearch.com/product/online-language-tutoring-market-5691
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Asia-Pacific Online Language Learning Market, by Learning Mode (Self-learning Apps & Applications, Tutoring), Age Group, Language (English, Mandarin, Spanish), End User (Individual Learners, Educational Institutions), and Country – Forecast to 2030 – https://www.meticulousresearch.com/product/asia-pacific-online-language-learning-market-5541
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English Language Learning Market Research Summary
Particulars
Details
Number of Pages
291
Format
Forecast Period
2024–2031
Base Year
2023
CAGR (Value)
10.6 %
Market Size (Value)
USD 91.1 Billion by 2031
Segments Covered
By Methodology
Blended LearningOffline LearningOnline Learning
By Learning Mode
Group LearningSelf-learning Apps and Applications TutoringOne-on-One Learning
By Age Group
<13 Years13-17 Years18-20 years21-30 years31-40 years>40 years
By End User
Individual LearnersGovernment BodiesCorporate LearnersEducational Institutes K-12Higher Education
Countries Covered
North America (U.S., Canada), Europe (Germany, U.K., France, Italy, Spain, Russia, Poland, Netherlands, Belgium, Sweden, Austria, Switzerland, Finland, Norway, Turkey, Ireland, Luxembourg, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia & New Zealand, Taiwan, Hongkong, Singapore, Malaysia, Vietnam, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and the Middle East & Africa (UAE, Saudi Arabia, Rest of Middle East & Africa)
Key Companies
Cambridge University Press (U.K.), New Oriental Education & Technology Group Inc. (China), Houghton Mifflin Harcourt Company (U.S.), McGraw-Hill Education, Inc. (U.S.), Duolingo Inc. (U.S.), Berlitz Corporation (U.S.), Busuu Online S.L. (Spain), Babble GMBH (Germany), Linguistica 360, Inc. (U.S.), Mondly (Romania), ELSA Corp. (U.S.), FluentU (A part of Enux Education Limited) (China), Memrise Inc. (U.K.), Mango Languages (U.S.), Rosetta Stone Ltd. (A part of IXL Learning, Inc.) (U.S.), Inlingua International Ltd. (Switzerland), Sanako Corporation (Finland), Transparent Language, Inc. (U.S.), and Open Education LLC (U.S.).
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High-net-worth Investors Are Embracing Tech To Grow Their Wealth: Moomoo Singapore Survey
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These investors are more confident in utilising wealth-tech to make their investment decisionsAs gatekeepers for their clients’ wealth, wealth managers must evolve to meet the needs of an increasingly sophisticated investor
SINGAPORE, Dec. 4, 2024 /PRNewswire/ — High-net-worth investors are now demanding more integrated wealth management solutions, according to data from a survey of more than 800 Moomoo users in Singapore and that of its sister brand Futubull in Hong Kong. These individuals, who have investable assets of at least S$1 million, are increasingly embracing technology to preserve and grow their wealth.
The survey, which was conducted jointly with Professor Ben Charoenwong of INSEAD[1] and Professor Alan Kwan of the University of Hong Kong, focused on the role of wealth-tech, or financial technology tailored to the wealth management sector.
Nearly 7 in 10 investors across all wealth classifications are at least moderately comfortable with using technology to manage finances, the survey found. Yet, contrary to conventional wisdom, wealthier clients, rather than those with lower wealth levels, are more receptive to automated solutions.
“Wealth management has traditionally been characterised by its high human touchpoint, with its highly personalised and face-to-face interactions between clients and their financial advisors. These high-net-worth individuals typically lead successful and busy lives, traditionally relying on the expertise of wealth managers to navigate the investment landscape and manage their portfolios,” Ryan Wu, Head of Private Wealth and Institutional Business, Moomoo Singapore, said.
“But that’s changing rapidly. As technology evolves and client preferences shift, these clients now expect hybrid advisory services, combining the best of technology and the human touch. This creates opportunities for digitally native firms providing wealth management services,” Rainie Miao, Managing Partner of Institutional and Private Wealth Services, Futu Group, noted.
Digital-first approach – but don’t forget the human
Amid this shifting landscape, financial services firms have to adopt embedded digital services to meet the needs of their clients, particularly when it comes to emerging high-net-worth individuals within the millennial population.
The survey also revealed the top three key digital features desired by wealthy clients in Singapore and Hong Kong:
Holistic portfolio tracking and performance analysis tools, highlighting the importance of comprehensive wealth management solutions that provide investors with a holistic view of their financial portfolio.Integration with existing financial accounts and platforms, emphasising the demand for seamless connectivity between various financial platforms and services, aligning with the trend toward open architecture and API integrations in wealth-tech.Automated personalised investment advice, reflecting a growing acceptance of robo-advisory services and exploration of AI-driven recommendations.
“Across the region, there is a clear shift towards digitally integrated, comprehensive wealth management solutions that leverage automation. Wealth-tech providers and digital brokerages looking to be at the forefront of this transformation should prioritise these offerings to meet the demands of investors in these markets,” Rainie Miao of Futu Group added.
Asia remains a key market for the private wealth management industry. In particular, regional financial hubs such as Hong Kong and Singapore are expected to continue their rapid growth in the years ahead. According to a recent report by HSBC, total financial assets in Asia will grow from $46.8 trillion in 2020 to $68 trillion by 2025[2].
In addition, a major transfer of wealth to the younger generation that now are more technologically savvy has been driving the ongoing shift in preference towards digital channels for the delivery of wealth solutions and services.
Yet, while the role of technology in wealth management has become increasingly important, the human element remains critical, particularly for clients with complex or multi-faceted financial needs. Digital brokerages should invest in advisor augmentation technologies that enhance the human expertise offered by wealth managers.
These tools can help advisors manage larger client portfolios more efficiently, provide data-driven insights, and save time for more value-added activities such as financial planning and relationship building.
“The role of the wealth manager will continue to evolve as technology plays an increasingly bigger role in the industry. As gatekeepers for their clients’ wealth, wealth managers must balance innovation with the need to maintain trust, security, and compliance. They must also be agile, continuously adapting to new technologies and client preferences while preserving the core values that underpin their relationships with clients,” Ryan Wu of Moomoo Singapore said.
[1] Professor Ben Charoenwong was formerly an Assistant Professor of Finance at the National University of Singapore during the preparation of this report. He has since commenced a teaching position at INSEAD.
[2] HSBC “Understanding Asia’s emerging wealth landscape” https://www.gbm.hsbc.com/en-gb/insights/international/understanding-asias-emerging-wealth-landscape
About Moomoo Singapore
Moomoo Financial Singapore Pte. Ltd. (Moomoo Singapore) is an award-winning advanced financial technology company transforming the investing experience through our digitalised brokerage and wealth management platform – moomoo. Moomoo enhances the user experience with market data, news, and powerful analytical tools. Moomoo also embeds a unique digitalised investment community to connect all users, investors, companies, analysts, media and key opinion leaders.
Moomoo Singapore offers investment products for trading via the moomoo platform, and it is a capital markets services license holder regulated by the Monetary Authority of Singapore (Licence No. CMS101000), Major Payment Institution (Licence No. PS20200617) holder with the Exempt Financial Adviser Status. In April 2024, Moomoo Singapore reached the 1 million users milestone in Singapore.
Moomoo Private Wealth offers bespoke investment strategies for HNW and institutional clients. Backed by its cutting-edge technology platform, Moomoo Private Wealth offers a portfolio of innovative investment products and has been recognised by Asia Banking and Finance for its product excellence.
Our achievements include the Investment Tech of the Year award at the 2024 Asia Fintech Awards and the SIAS Best Retail Broker 2024.
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A Glimpse into the Future with KuCoin at VTIS 2024
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During this pivotal event, visionaries, industry leaders, and enthusiasts gathered to delve into how digital assets revolutionize consumer experiences and the broader economic landscape. The session presented an array of discussions ranging from payments to blockchain’s role in consumer applications, focusing on the immense opportunities within the ASEAN market.
A panel on the “Next Generation of Payment” kicked things off, featuring innovators like Hieu Do (Head of Partnership of Holdstation), Cody Li (Founder of Terminus.network), and Cem Arcan (Head of Ecosystem of Next Generation). This was followed by a panel discussion on “Building Digital Markets with RWA,” where Mary Tran (CEO of Orochi Network), Wynn Le (Manager Director of SSI Digital), and CK Ong (COO of SBI Digital Market) shared their expertise.
Raymond Chu, Director of Thailand International Digital Business & Finance Center (TIDC), then delivered a keynote on “A Gateway to Southeast Asian Digital Growth,” highlighting the region’s unique market dynamics. The afternoon sessions also included a deep dive into “Future Innovation and Security in Blockchain,” with contributions from Celine Chong (Sales Engineer of Figment), Vi Vi (Co-Founder of ZKP Labs), and Will Huang (Ecosystem Lead of TONX). Yuki Zhou (HK Hub Lead of TON Society), Jenny Nguyen (COO of Kyros Ventures), Son Ho (MD and Head of Investment of k300 ventures) and Vanny Ha (Head of Vietnam of Kaia LTD Foundation) then took the stage to discuss Web3 Consumer App in ASEAN Market.
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“We are glad to have hosted the event at the prestigious Vietnam National Convention Center, together with leading financial and technology companies like SSI Securities Corporation (SSI) and FPT,” said Alicia Kao, Managing Director of KuCoin. “KuCoin will continue to support the AI and blockchain technology innovation in Vietnam and provide platform and resource to the local community in education, incubation and mentorship.”
KuCoin has also collaborated with volunteers from prestigious Vietnamese universities, including Diplomatic Academy of Vietnam, Foreign Trade University, Academy of Journalism and Communicationand etc, offering enriching experiences and learning opportunities for the younger generation interested in blockchain, AI, and fintech industries. This partnership highlights KuCoin’s commitment to educational development. It stands as a cornerstone of KuCoin’s global corporate social responsibility initiatives, aiming to foster a knowledgeable and skilled future workforce in the rapidly evolving tech landscape.
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LONDON, Dec. 4, 2024 /PRNewswire/ — PhysicsX, a London-based start-up bringing the power of generative AI to enable breakthrough engineering in advanced industries, has launched the first Large Geometry Model (LGM) for aerospace engineering, LGM-Aero, and a publicly accessible reference application, Ai.rplane, to showcase its power in designing aero structures.
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Developed and provisioned on AWS, LGM-Aero was trained on more than 25 million meshes, representing more than 10 billion vertices, and a corpus of tens of thousands of Computational Fluid Dynamics (CFD) and Finite Element Analysis (FEA) simulations generated with Siemens Digital Industries tools. It is a fully trained model that generalizes to a broad set of aeroelastic applications. It also infers aero performance, flight stability and structural stress for a large class of flying shapes as a zero-shot model. This technology creates geometry and assesses performance results in less than a second, compared to the several hours required for traditional numerical simulations.
“We are delighted to work with PhysicsX as they develop their first Large Geometry Model and release its showcase application Ai.rplane,” said Ozgur Tohumcu, General Manager, Automotive and Manufacturing, AWS. “This technology will accelerate the transformation of engineering in Advanced Industries for AWS customers, enabling them to bring their products to the market faster while increasing product performance. We’ve been impressed by PhysicsX’s pace of innovation and look forward to deepening our collaboration.”
In one seamless operation, the technology creates novel designs, predicts lift, drag, stability, structural stress and other attributes for each shape, then optimises the design according to the user’s preferences. When used in industrial applications, this workflow reduces development time from months to hours.
“In the same way that large language models understand text, Ai.rplane has a vast knowledge of the shapes and structures that are important to aerospace engineering,” says Jacomo Corbo, co-founder and CEO of PhysicsX. “The technology can optimise across multiple types of physics in seconds, many orders of magnitude faster than numerical simulation, and at the same level of accuracy. We’re excited about what LGM-Aero brings as capabilities to our customers while recognizing that it is also an important stepping stone towards developing physics foundation models.”
LGM-Aero was developed using an extensive set of simulation technologies from Siemens to automate and scale the generation of high-quality training data, as well as AWS Batch and Amazon EC2 to scale compute during training. It is available on the PhysicsX AI engineering enterprise platform, which is trusted by some of the most sophisticated engineering and manufacturing organizations across advanced industries.
“We are thrilled to continue to build on our deep collaboration with AWS, and to announce the release of LGM-Aero and of Ai.rplane. This is a first step in transforming the way engineering is practiced in Advanced Industries,” added Robin Tuluie, founder and chairman of PhysicsX. “Over time, we will bring new capabilities to LGM-Aero and to Ai.rplane, allowing users to select powertrains, add controls and further content to reach mature designs in days rather than months or years.”
LGM-Aero and Ai.rplane are available on the PhysicsX AI engineering platform. Ai.rplane is free-to-use and accessible via airplane.physicsx.ai.
About PhysicsX:
PhysicsX is a technology company setting out to enable breakthrough engineering across advanced industries with AI. The company is building a new breed of engineering platform to bring AI-based simulation and optimization across the whole product development lifecycle, from design into manufacturing into operations. It is trusted by some of the most advanced companies in semiconductors, aerospace, automotive, renewables and materials processing. Learn more at www.physicsx.ai.
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