The increasing popularity of multilingual programs in China will boost revenues in the cloud-based language learning market.
Arizton’s recent market research report on the cloud-based language learning market identifies Speexx, Rosetta Stone Inc., Duolingo, Busuu.com, and Babbel.com as the leading vendors that are likely to dominate the market during the forecast period. This research report provides detailed analysis of market segmentation by language (English, Chinese, Spanish, Arabic, and others), by end-user type (K12, higher education, vocational training, corporate training, examination number, and others), and by geography (APAC, Europe, North America, Latin America, and MEA).
The cloud-based language learning market is estimated to reach revenues of approximately $8 billion by 2024, growing at a CAGR of around 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.
The cloud-based language learning market is divided into three major segments that includelanguage, end-user type, and geography.
Chinese language segment to grow at a significant CAGR in the cloud-based language learning market during the forecast period
The cloud-based language learning market by language is classified into English, Chinese, Spanish, Arabic, and others. Chinese language segment dominated the second largest market share in 2018, growing at a CAGR of around 8% during the forecast period. 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.
China is also considered as the global manufacturing hub, and the plants are looking for Mandarin speaking employees. Such a rapid increase in demand will encourage the vendors to launch new products and online courses in the global market. The increasing popularity of multilingual programs will boost revenues in the cloud-based language learning market.
Vocational training segment to grow at a considerable CAGR in the cloud-based language learning market during the forecast period
The end-user segment in the cloud-based language learning market is categorized into K12, higher education, vocational training, corporate training, examination number, and others. Vocational training segment occupied more than 1/3rd of the total market share in 2018, growing at a CAGR of more than 7% during the forecast period. 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. The launch of easy and effective programs that offer vast experiences to students will help vendors gain a larger cloud-based language learning market share over the next few years.
MEA to grow at the fastest CAGR in the cloud-based language learning market during the forecast period
The cloud-based language learning market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. MEA is the fastest growing region in the global market, at a CAGR of approximately 8% during the forecast period. 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. The use of mobile learning VAS products inSaudi Arabia, including Jordan, Kuwait, Oman, the UAE, and Yemen will create lucrative opportunities for service providers in the region. The increasing number business activities headquarters, growing tourism activities, and rising number of global events in the UAE will contribute to the revenues in the cloud-based language learning market.
The other prominent players operating in the cloud-based language learning market are 50 Languages, Linguatronics, Sanako, Okpanda, Livemocha, Software and Network Solutions, Voxy, Sanoma, Memrise, and Edusoft.
The complete overview of the latest market research report on the cloud-based language learning market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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