The Latest research study released by Absolute Markets Insights Online Language Learning Market with 100+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint and status. Understanding the segments helps in identifying the importance of different factors that aid the market growth.In terms of revenue, the global online language learning market was valued at US$ 8,153.76 Mn in 2022 and is expected to reach US$ 16,489.04 Mn by 2030 growing at a CAGR of 8.14% over the forecast period. Some of the Major Companies covered in this Research are: Berlitz Corporation, Busuu Ltd, Coursera Inc., Duolingo, Inc., Fluenz , Houghton Mifflin Harcourt, inlingua International Ltd., iTutorGroup, Lesson Nine GmbH, Libros Media Ltd. (Rocketlanguages), Linguistica 360, Inc., Memrise Limited, OptiLingo, Rosetta Stone Ltd., Sanako Corporation., Simon & Schuster, Inc. , Speexx , Transparent Language, Inc., Udemy, Inc., Voxy, Yabla ., amongst others.
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Online Language LearningMarket:
- By Offering
- Solutions
- Cloud
- On Premise
- Services
- By Platform
- Web-based
- App-based
- By Type
- Self-paced
- Instructor-led
- By End-User
- Individuals
- Educational Institutes
- Corporate
- By Language Type
- English
- Mandarin/Cantonese
- German
- French
- Japanese
- Spanish
- Arabic
- Hindi
- Others
- By Pricing Model
- Freemium
- Subscription
- Monthly
- Annual
- By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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Historians cite the invention of scripts used in communication as one of the greatest feats as far as human achievements are concerned. The evolution of languages as a codified form of communication helped in the continuity and transfer of ideas from one generation to the other. The earliest form of scripts can be traced back to cave and stone drawings which helped the herds identify the present dangers and imbibe the knowledge through the struggles of their ancestors. Currently, more than 6,500 languages are being spoken all over the globe, each having multiple dialects. Around 2,500 of those languages have only around 1,000 speakers, due to which government bodies in various countries are taking monumental efforts to maintain the continuity of the language and ensure that it doesn't disappear. Individuals that speak multiple languages are common in countries such as India, the U.S., South Africa, etc.
It is estimated that roughly 43% of the world population is bilingual, with around 13% speaking more than three languages. Hong Kong is an example of a country with a high presence of the trilingual population, due to the influence of China and the UK. Colonialism played a huge part in the spread of languages such as English, Spanish, French and Portuguese. Currently, there are several sources through which individuals are trying to acquire foreign language proficiency. The reason for learning can be anything from business travel to an inclination towards learning a language. The global online language learning market has been boosted with increasing globalization efforts by the companies, coupled with the rising interest in learning languages such as French, English and Spanish among individuals.
The rise in globalization is increasing the demand for a bilingual workforce. In countries such as the U.S., UAE, and Saudi Arabia, students are being encouraged to take up a foreign language, which is expected to help them develop a cutting edge over their monolingual peers in their careers. Furthermore, there is also an increase in the number of foreign language learners in the last decade. The popular language-learning website, Duolingo, for instance, has over 300 million registered users by the end of 2019. The company has content for 23 different languages, and it is available for users all around the globe. Furthermore, language training companies are increasingly tying up with business to impart foreign language training to their workforce. These factors are greatly helping in the growth of the global online language learning market.
COVID-19 pandemic has affected numerous markets across countries. There has been a severe decrease in the production capacity due to the lack of availability of workers as a result of the enforcement of lockdown measures in several countries. However, the global online language market is expected to see a surge in revenue, since individuals are adopting online language learning methods to enhance their language skills. Online language learning websites reported a spike in language takers since the onset of COVID-19. Duolingo, for instance, reported a doubling in their user number in March 2020, with the highest numbers coming in the second week of March. Interestingly, this spike in numbers was after the WHO promulgated COVID-19 as a global pandemic. Duolingo recorded 107% more users from France and 109% more users from Spain during the aforementioned period. Learners are opting for those languages that they can apply in their daily lives. Spanish and French topped the preference list, according to the Duolingo report. The global online language learning market has emerged as an attractive investment option during these times of peril.
Online Language Learning Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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