Online Language Training Market Scope
Because of the globalization of the economy and the development of cost-effective technology-based products, the online language learning market is changing at a rapid rate. Globalization and the growing need for cross-border communication, the growing E-learning industry, the impact of COVID-19, and the penetration of artificial intelligence in e-learning are all driving this sector's growth. Furthermore, rising education spending, growing internet, and mobile phone user base, and multinational firms' preference for multilingual staff create growth prospects for players in the online language learning market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Berlitz Corporation (United States), Rosetta Stone Inc. (United States), Memrise Inc. (United Kingdom), Inlingua International Ltd. (Switzerland), Sanako Corporation (Finland), Duolingo Inc. (United States), Babbel (Germany), Busuu Ltd (United Kingdom), iTutor Group (Taiwan) and Open Education LLC (United States) |
CAGR | % |
The Online Language Training Providers' top companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The strong competition, shifting consumer purchasing habits, demographic trends, and regular modifications in customer preference all present strong market growth potential. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Online Language Training market throughout the predicted period.
Berlitz Corporation (United States), Rosetta Stone Inc. (United States), Memrise Inc. (United Kingdom), Inlingua International Ltd. (Switzerland), Sanako Corporation (Finland), Duolingo Inc. (United States), Babbel (Germany), Busuu Ltd (United Kingdom), iTutor Group (Taiwan) and Open Education LLC (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Linguistica 360, Inc. (United States), EF Education First (Switzerland), italki HK Limited. (China) and Lingodeer (Hong Kong).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Online Language Training market by Type and Region with country level break-up.
On the basis of geography, the market of Online Language Training has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
Rosetta Stone Inc. (U.S.) announced to offer free unlimited language tutoring for all consumer subscribers through June 30, 2020. With this live tutoring, the company commits to offer the users with tutoring sessions from native speakers who could help language learners to practice new language by listening and speaking in an interactive environment.
In March 2020, Sanako Corporation announced free subscription to Sanako Connect- a new remote language classroom solution for schools. Sanako Connect allows students and teachers to access sessions from anywhere using laptop, chromebook or tablet and also facilitates audio and text-based communication tools between teacher and students
Influencing Trend:
Penetration of artificial intelligence in e-learning
Market Growth Drivers:
Globalization and the growing need for communication across borders and Growing e-learning market
Challenges:
Stiff competition
Restraints:
Availability of open-source platforms
Opportunities:
Increasing spending on the education sector, Rising preference for multilingual employees by the multinational companies and Growing internet and mobile phone user base
Key Target Audience
Online Language Training Providers, Online Language Training Association, Online Language Training International Traders, Research and Development Institutes, Financial Institutes and Investors, Regulatory Bodies and Others