Competitive Market Growth, Size, Share and Forecast to 2028 for Online Language Learning Market, By Proficiency Level (Basic, Intermediate, Comprehensive); By Deployment Mode (Cloud Based, On-Premise); By Training Options (One-To-One, Small Group Lessons, Others); By Languages (English And Business English, French, Swedish, Spanish, Russian, Korean, Italian, Mandarin Chinese, Arabic, German, Others); By Organization Size (Small & Medium Enterprise, Large Enterprise)
The Online Language Learning Market was valued US$ 739.01 in 2021 and will grow at a CAGR of 12.01% for the forecast period of 2020-2028, as per the market research report by Absolute Markets Insights titled ” Online Language Learning Market
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The globalization trend has encouraged businesses to include language education in their strategies for streamlining communication and operations across different locations, thus, fuelling the demand for corporate online language learning solutions.
Owing to the stringent competition, organisations are establishing their presence in overseas market to gain higher profits and faster growth. These multinational companies are focusing their efforts towards development of vital soft skills in their employees, including business language, to ensure efficiency of operations across different facilities. As the cost and time associated with translation of emails, webinars and other materials from one language to others is causing concern and discrepancies, corporates are adopting single language strategies and training their employees to achieve fluency in that language. For instance, Sodexo of France, Honda Motor Co. Ltd. and Nissan Motor Co., Ltd. of Japan along with many other companies adopted corporate language strategy to streamline their business activities across various locations. However, classroom learning is a time consuming method which affects the productivity of employees, thus, creating demand for online based learning solutions which facilitate employees with freedom of time and location. Online learning methods such as on-screen streaming, interactive whiteboard, session recordings, exchange of study material or others are commonly used to deliver language education to corporate employees at distant locations. Major firms such as Accenture, Deloitte Touche Tohmatsu Limited and many others provide online learning courses, including language learning, to their employees for workforce skill development. Thus, the corporate language strategies adopted by companies to streamline their international expansion is driving the growth of corporate online language learning market across the globe.
A number of factors affect the term Online Language Learning Market including forward/backward integration, economies of scale, the proportion of various distribution channels, factors influencing consumer behavior, such as brand loyalty, price, and accessibility of the product, capital investments, the regulatory environment, production rights and patents, marketing strategies, and other customer preferences. This information will probably be useful to the industry’s stakeholders, and it might even spur them on to action.
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Online Language Learning Market Competitive Landscape:
The prominent companies in the Online Language Learning Market are:
Busuu Ltd., Cactus Worldwide Ltd., Communicaid Group Limited, EF Education First, Globibo, inlingua International Ltd., Lesson Nine GmbH, Lingoda GmbH, Pearson and Rosetta Stone Ltd. amongst others.
Impact of COVID-19:
The consumer behavior, demand shifts, shopping trends, supply chain restructuring, market forces dynamics, and major government participation are all discussed in this article. More details, analyses, projections, and estimations of the market effects of COVID-19 are provided in the new report.
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Key Benefits of Global Online Language Learning Market Report:
- As part of the investigation into worldwide Online Language Learning Market patterns, a lot of time has been spent looking at both the present and the future.
The Global Online Language Learning Market Growth Research Report provides in-depth information on the Market Introduction, Market Summary, Global Market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and National levels.
Finding business opportunities may be aided by researching worldwide Online Language Learning Market trends.
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Online Language Learning Market Regional Insights
North America region registered the highest share in global corporate online language learning market in 2018 owing to the high presence of multinational conglomerates and growing number of corporate travellers. The U.S. Travel Association stated that in 2019 there were 464.4 million business trips in the nation. This high amount of business travellers opt for corporate online language learning solutions to gain fluency in their communication at new location. These factors are contributing towards dominating share of North America in global corporate online language learning market.
However, the Asia Pacific region is anticipated to witness high growth rate over forecast years due to the rise in industrialization across countries such as China, Japan, India, South Korea and others. This has inflated the number of business summits, strategic meetings and other corporate activities which demand high language proficiency for streamlining communications between people of different nations. Also, many international businesses are operating their backend activities from India and other Asian countries which results in high amount of technical support conversations with international colleagues or clients, thus, mandating fluent language skills within employees for flawless communication. To develop this required language proficiency, many corporates are adopting online language learning solutions, thus, propelling the share of Asia Pacific region at highest growth rate in global corporate online language learning market.
In terms of revenue, the market size of Europe’s corporate online language learning market is anticipated to reach between US$ 739.01 by 2020, growing at a CAGR of 12.01% from 2020 to 2028.The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
The report provides a comprehensive examination of a number of factors, including the distribution of the Online Language Learning Market in significant geographic areas. North America, Europe, Asia-Pacific, and Latin America are the key geographical emphasis areas of the study.
Why the Online Language Learning Market Report is Beneficial?
- The Online Language Learning Market study was constructed using a comprehensive and modern research approach.
- The study contains a large amount of data on the most current technological and product advancements in the Online Language Learning Market and offers a complete analysis of the market competition for the Online Language Learning Market.
- The numerous evaluations of how these upgrades may affect the ongoing growth of Online Language Learning Market
In the research report for the Online Language Learning Market study, extensive historical data and analysis are presented.
- The graphical data representations used in the Online Language Learning Market report, such as bar graphs, statistics, pie charts, etc., make the report’s insights obvious and simple to comprehend.
Online Language Learning Market Segmentation:
The Online Language Learning Market market has been divided into a number of categories depending on the product’s composition and intended application. Each market segment’s growth rate and market share are evaluated. The specialists have also looked into potential places where the producers can profit in the years to come. Participants in the market are better able to comprehend the entire industry thanks to the precise volume and value estimates offered by the geography analysis.
Global Corporate Online Language Learning Market:
By Proficiency Level
By Deployment Mode
- Cloud Based
By Training Options
- Small Group Lessons
- English and Business English
- Mandarin Chinese
By Organization Size
- Small & Medium Enterprise
- Large Enterprise
Global Online Language Learning Market by Region Online Language Learning Market
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
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