The Marvel land is expected to replace the area occupied by A Bug's Life rides, including the "It’s Tough to Be a Bug" ride which closed earlier in March. The sparse announcement says the land will "begin recruiting guests" in 2020 with "even more new experiences to follow."
While it's exciting to have a new land dedicated to one of Disney's largest cinematic franchises, it doesn't look to be anywhere near the scale of the upcoming Star Wars "Galaxy's Edge" park or its wildly immersive Star Wars hotel. The details are a little sparse other than that the Avengers and Spider-Man will be involved, and maybe Black Panther as well, based on the character being in the teaser poster alongside Peter Parker's alter-ego.
Additionally, Disney announced Marvel rides will be headed to other locations. An indoor Guardians of the Galaxy roller coast is hitting Disney World in 2021, Hong Kong Disneyland will get an Ant-Man and the Wasp ride, and Disneyland Paris is building an Avengers roller coaster as a part of its own forthcoming Marvel land. If a half dozen Marvel movies a year along with dozens of Marvel TV shows aren't enough for you, help is on the way.