Global ELT Market Will Reach $3.8 billion by 2020
Seattle, WA (PRWEB) March 02, 2016 -- The worldwide market for digital English language learning products reached $2.8 billion in 2015. The five-year compound annual growth rate (CAGR) is 6.2%, and global revenues will reach $3.8 billion by 2020, according to new data published by Ambient Insight called "The 2015-2020 Worldwide Digital English Language Learning Market."
"While the growth rates for digital English language learning products are slowing in the more mature countries, the revenues are very high in those countries. China, the US, South Korea, Japan, and Brazil combined account for 65% of the global revenues," reports Sam S. Adkins, Chief Researcher. "Five-year revenue forecasts are provided for 120 countries in this report. As of January 2016, there were forty-nine countries in the world with five-year compound annual growth rates over 15%."
Myanmar has the highest growth rate at a breathtaking 60.5% and revenues in that country will grow over ten times by 2020. Mongolia has the second-highest growth rate at 50.5%, followed by Sri Lanka, Uganda, Laos, and Ghana at 47.8%, 45.7%, 45.6%, and 44.5%, respectively. The astonishing growth rates and adoption rates in these countries are good examples of once-nascent markets that became vibrant revenue opportunities for suppliers in just the last three years (literally "overnight" in the context of a learning technology product lifecycle.)
A free sample of the data in the Premium is available here:
The demand-side analysis has five-year forecasts for seven regions: Africa, Asia, Eastern Europe, Latin America, the Middle East, North America, and Western Europe. Africa has the highest growth rate of 17.1% and Western Europe has the lowest at 2.4%. The growth rate in North America is a healthy 8.6%, being driven by the strong demand in the US.
China, the US, South Korea, Japan, Brazil, the Russian Federation, and Turkey are the largest buying countries in their respective regions and the Premium includes a table for each country with forecasts broken out by six buying segments: consumers, corporations, PreK-12 buyers, higher education buyers, federal government agencies, and local/provincial/state government buyers.
"Premium compilations are designed for suppliers that understand the buying behavior in specific countries and just need the global five-year country and product forecasts. They just need the numbers," comments Adkins. "Premium reports are data-centric and focus exclusively on revenue forecasts. They are compilations of Excel tables and not fully-written reports. We will provide the written Asia and US reports for free to buyers who purchase the Premium."
Global five-year regional forecasts for five types of digital English language learning products are provided including: retail packaged Self-paced eLearning (off-the-shelf courseware), Collaboration-based Learning (live online classes and live online tutoring), digital Reference-ware (eTextbooks, ePhrasebooks, audiobooks, digital videos, test prep, and digital translation dictionaries), Mobile Learning apps and edugames, and Mobile Learning VAS. There is also a supply-side table for five product types for the US, South Korea, Japan, Brazil, the Russian Federation, and Turkey.
"There are thirty-four tables in the Premium: two tables ranking 120 countries by revenues and growth rates, respectively, fourteen regional demand-side and supply-side forecast tables for 120 countries in seven regions, fourteen country demand-side and supply-side forecast tables (two each) for China, the US, South Korea, Japan, Brazil, the Russian Federation, and Turkey," adds Adkins. "There are also two worldwide demand-side and supply-side forecast tables by seven regions. Additionally, there are two 'bonus' demand-side forecast tables for China breaking out the expenditures on digital English language learning products for children in the consumer and PreK-12 segments by age cohort."
The worldwide language learning market (all languages combined) reached $54.1 billion industry in 2015, but will drop to $51.9 billion by 2020. The overall worldwide language learning market is gradually shrinking due to the adoption of cost-efficient technology-based products and the migration away from classroom and print products. In this compilation, Ambient Insight isolates the addressable market for learning suppliers and excludes revenues generated from localization, interpretation, translation, and other language-related services.
Sam Adkins, Ambient Insight LLC, +1 (360) 805-4298, [email protected]
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