Global Cloud-based Language Learning Market - Is Social Media Running the Show?
Arizton’s recent market research report on the global cloud-based language learning market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by language (English, Chinese, Spanish, Arabic, and others), by end-user type (K12, higher education, vocational training, corporate training, examination number, and others), by geography (APAC, Europe, North America, Latin America, and MEA), and offers detailed competitive analysis.
The global cloud-based language learning market is expected to generate revenues 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. The growing requirement of technology-enabled tools that can facilitate user engagement, motivation, and collaboration is augmenting the growth of the global market.
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The top 3 drivers and trends driving the growth of the global cloud-based language learning market are discussed below:
Private Investments in Digital Learning
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 companies are breaking the market entry barriers through innovative business models based on Cloud first, Mobile First delivery models. The total investment between January 2014 and July 2015 was around $186 million in the global market. Some of the leading companies investing in the US and China are Eleutian Technology, 8D, and Hujiang.com. The increasing focus on innovations will boosts investments for the development of cloud and mobile solutions in the global market. The development and launch of new products will create lucrative opportunities for the leading vendors operating in the global cloud-based language learning market over the next few years.
Digitization Initiatives in the Education and Learning Sector
The government and private sector initiatives to promote the digitalization of the learning and educational sector will directly contribute to the development of theglobal cloud-based language learning market. Several schools and government organizations are commissioning ambitious implementation plans foronline tutoring, digital content delivery, and conversion of existing learning content into digital format in the 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. The rising need for connectivity tools that are related to skill building and language learning will drive investments in the global cloud-based language learning market. For instance, in July 2014, 25,000 tablets were distributed among teachers and students as a part of the Tablets in School program in Jamaica.
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Going Mobile and Going Social
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. The increasing popularity ofcollaborative and peer-to-peer modules will attribute to the growing revenues in the global cloud-based language learning market.Continuous news feeds, peer-to-peer challenges, flash cards, and content collaboration are some of the emerging trends in the global market. Various social media platforms are leveraged by vendors to promote these types of collaborative learning in the market. Duolingo, Lingua.ly, and Voxy are some of the leading service providers who are offering superior mobile learning applications in the global cloud-based language learning market.
The leading vendors in the global cloud-based language learning market are Speexx, Rosetta Stone Inc., Duolingo, Busuu.com, and Babbel.com.
The complete overview of the latest market research report on the global 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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