The global cloud-based language learning market is projected to reach values of around $8 billion by 2024
LONDON, Jan. 22, 2019 /PRNewswire/ -- The global cloud-based language learning market is projected to reach values of around $8 billion by 2024, growing at a CAGR of approximately 7% during 2018-2024. This market research report also offers market size analysis in terms of the number of users (mn) during the forecast period.
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Large corporate organizations are investing in the efficient channelization of IT resources and expenditure to bring-in measurable improvements in workforce efficiency, thereby augmenting the growth of the global market. Cloud solutions are designed to enable the resources to learn language on-the-go at their convenience of time, place, and mode.The global cloud-based language learning market is driven by the growing requirement of technology-enabled tools that can facilitate user engagement, motivation, and collaboration. The business outsourcing activities across several countries such as India, the Philippines, Indonesia, China, and Thailand will drive the demand for language training solutions in the global market. The market research report provides in-depth market analysis and segmental analysis of the global cloud-based language learning market by language, end-user type, and geography.
The report considers the present scenario of the global cloud-based language learning market and its market dynamics for the period 2019?2024. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.
Cloud-based Language Learning Market – Dynamics
The increasing number of internet users and device adoption is attracted significant private investments in digital learning solutions, thereby, propelling the growth of the global cloud-based language learning market. There are more than 350 language learning startups which are privately funded through angel investors, established venture capital, and private equity firms across the global market. The establishment of these companies will lead to innovative learning delivery solutions, tools, and content solutions in the global cloud-based language learning market.The growing demand for e-learning courses across several schools and universities will fuel the growth of the global cloud-based language learning market. The increasing emphasizes on skills pertaining to secondary language that facilitate skill development as per international standards and requirements in the primary and secondary education sector will attribute to the revenues in the market. Government departments and schools are undertaking initiatives that not only propelling the adoption of digital media but also inducing a perennial demand for digital content in the market.Mobile internet and an increasing number of social media users will positively impact the transformation of the global cloud-based language learning market. Many service providers are creating bite-sized lessons and deploying learning modules in sprints easily in order to match the user's daily routine of students in the market. Mobile platforms are designed to overcome the limitation of time and facilitate a better collaboration than static web platforms in the market.
Cloud-based Language Learning Market – Segmentation
This market research report includes a detailed segmentation of the market by language, end-user type, and geography.The global cloud-based language learning market by language is categorized into English, Chinese, Spanish, Arabic, and others (German, French, Japanese, Portuguese, and others). English language segment dominated more than half of the total market share in 2018, growing at a CAGR of around 7% during the forecast period. The implementation of new educational policies to increase the proficiency of English across several countries is augmenting the growth of this segment in the global market.The growing dominance of China as the second largest economy in the world and an industrial powerhouse is propelling the demand for Mandarin Chinese courses in the global market. The rise in the business interactions of the other countries with China will positively impact the cloud-based language learning market. Learning Mandarin Chinese opens up more opportunities to work, live, communicate, and understand a country that will continue to play an important role in the world's future.
The end-user type segment in the global cloud-based language learning market is divided into K12, higher education, vocational training, corporate training, examination number, and others. The corporate sector is the fastest growing end-user segment in the global market, at a CAGR of over 8% during the forecast period. The increasing focus on outsourcing of the e-learning resources is driving the growth of this segment in the global market. The growing investments in corporate wellness programs and training modules with packaged content, platform, and authoring tools will create lucrative opportunities for the vendors operating in the global market.The growing popularity of vocational training that are designed to enhance skills for starting careers is augmenting the growth of this segment. The government initiatives to promote vocation training for skill development will boost revenues in the cloud-based language learning market. The growing demand for foreign language courses that enable people from different fields and countries to participate in programs around the world will encourage service providers to introduce different modules.
Market Segmentation by Language
• English
• Chinese
• Spanish
• Arabic
• Others
• German
• French
• Japanese
• Portuguese
• Others
Market Segmentation by End-User Type
• K12
• Higher Education
• Vocational Training
• Corporate Training
• Examination Number
• Others
Cloud-based Language Learning Market – Geography
The global cloud-based language learning market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. APAC occupied the largest market share in 2018, growing at a CAGR of over 7% during the forecast period. The increasing internet penetration, rising disposable expenditure, improvement of public amenities, and progression of the pedagogy in educational institutions are the primary factors attributing to the growth of the APAC market.The growing demand for examination training, especially for GRE, GMAT, TOEFL, and IELTS will contribute to the growing revenues in the APAC market.The expansion of cloud computing services across Africa is fueling the growth of this region in the global market. The establishment of e-government strategies in the educational sector is propelling the demand in the African market. Increasing investments by tech giants such as Google, Amazon, and Microsoft across various African countries will positively impact the cloud-based language learning market. The growing need to learn languages such as English, Chinese, German, and French across various Middle Eastern countries, especially Saudi Africa will propel the development of the market in this region.
Market Segmentation by Geography
• APAC
• China
• India
• Japan
• North America
• US
• Canada
• Europe
• UK
• France
• Spain
• Latin America
• Brazil
• Mexico
• MEA
• Saudi Arabia
• UAE
Key Vendor Analysis
The global cloud-based language learning market is witnessing significant growth due to the presence of various players. The vendors are focusing on expanding the business and gaining maximum market share by creating awareness about their products. The growing demand for online language courses will encourage companies to diversify their product portfolio in the global market. The players are investing in marketing activities, low or free initial pricing, and broad sampling to sustain the intense competition in the market. The vendors are leveraging freemium offerings with attractive short-term subscription pricing to attract a maximum number of consumers in the global cloud-based language learning market.
The major vendors in the global market are:
• Speexx
• Rosetta Stone Inc.
• Duolingo
• Busuu.com
• Babbel.com
Other prominent vendors include 50 Languages, Linguatronics, Sanako, Okpanda, Livemocha, Software and Network Solutions, Voxy, Sanoma, Memrise, and Edusoft.
Key market insights include
1. The analysis of global cloud-based language learning market provides market size and growth rate for the forecast period 2018-2024.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global cloud-based language learning market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of global cloud-based language learning market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.
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