Language Learning Platforms Market REPORT OVERVIEW
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The global language learning platforms market size was USD 1943.1 million in 2021 and is projected to touch USD 9704.29 million by 2031, at a CAGR of 17.3% during the forecast period.
Language learning is a term used to describe learning a new language. To make language learning easy, the companies introduced online platforms to learn the languages online. Online language learning platforms are expected to grow in the global market due to the flexibility and higher engagement of these platforms during one-on-one sessions. The virtual world plays a significant role in various sectors, specifically language learning. The rising demand for bilingual and multilingual education in multiple companies is forecasted to drive the demand for language learning platforms.
Companies operating in the retail and hospitality sectors rely on a stable workforce with multilingual employees. Additionally, the companies dealing in foreign currencies and exchanges must be multilingual to trade and make exchanges in other countries. Thus, these factors are forecasted to aid the market growth. The trend of international marketing, the ongoing globalization among businesses, and the rising digitizing content will likely drive service demand. The students are also inclined toward learning new languages, and an escalating number of multinational companies is further forecasted to aid growth.
Covid-19 Impact: Adoption of Virtual Classrooms Encouraged the Language Learning Services
The pandemic affected all the industries, including automotive, agricultural, services, transport, and others. The outbreak of COVID-19 resulted in the postponement of various business and educational events, including trade exhibitions, product launches, international seminars, classes, academic and career webinars, and others. Educational institutes and schools adopted online classrooms such as Zoom, WebEx, and Google Meet to host regular classes. The government imposed various laws to control the spread of the virus. To avoid spreading the virus, many industries adopted the remote working policy. The market of language learning platforms witnessed a positive impact due to increased demand for conferencing software.
LATEST TRENDS
"Rising Demand for Online Learning to Boost the Market Growth"
The pandemic resulted in shifting toward online platforms. The companies adopted a remote working policy, and the educational institutes turned toward taking online classes. Thus, the market is estimated to witness exponential growth. The rising demand for language learning platforms is anticipated to boost the language learning platforms market growth. Additionally, distance learning is becoming more prevalent. It is projected to drive trends in the market. The shifting of education from conventional teaching to online teaching is forecasted to surge growth in the market. The need for engaging and interactive learning environments is also predicted to aid market growth.
Language Learning Platforms Market Segmentation
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- By Type Analysis
By type, the market is segmented into cloud-based and on-premise.
- By Application Analysis
Based on application, the market is classified into personal and education institutions.
DRIVING FACTORS
"Rising Need for Flexible Hours of Learning to Surge Growth"
The rising trend in the travel and tourism industry associated with online education and courses is forecasted to major in language learning platforms market growth. Additionally, the need for interactive learning sessions and flexible learning hours is projected to gain traction in the global market. The rising demand for smart learning solutions to enhance the student’s learning experience and the utilization of visual elements such as charts, presentations, images, and graphs are forecasted to develop a better understanding among the students. Thus, these factors are projected to drive the growth of the market.
"Inclination Toward Online Platforms to Drive Service Demand"
Rising urbanization and per capita income are leading the population to incline towards steady adoption of technology. Moreover, the prevalence of smartphones and the internet is forecasted to surge growth in the market. The availability of language learning platforms for personal and educational institutions is estimated to surge growth in the market. The personal learning platforms offer one-on-one classroom sessions for better understanding and thus, are estimated to gain traction in the market.
RESTRAINING FACTORS
"Shortage of Technical Instructors and High Cost of Infrastructure to Hinder Growth"
The smart language learning platforms require technical knowledge to operate. The ability to manage devices and software plays a significant role in giving a smooth and practical class session, which may be a challenge in the market's growth. The steady adoption of advanced techniques such as assignment development, online content collaboration and delivery, assessment and evaluation, course design, and others are anticipated to pose challenges to most traditional instructors. This factor is estimated to hinder the market's growth worldwide as this is not limited to any specific country, state, or city. Additionally, the high cost of the infrastructure associated with the language learning platforms such as smart campuses and smart classrooms is likely to limit the growth of the market.
Language Learning Platforms Market REGIONAL INSIGHTS
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"Asia Pacific to Lead the Market Owing to Rising Enrolment in Online Education"
Asia Pacific is expected to dominate the market share due to its major contribution in the increasing enrolment in online education. Additionally, the expanding population looking for job opportunities, escalated digitization, and government initiatives for national online education networks in the developing economies such as India, Japan, and China.
North America is projected to show sizable market growth owing to the region's rising diversity. Additionally, the regional growth is backed by the population’s need for practical language skills, which is likely to aid market growth.
KEY INDUSTRY PLAYERS
"Industry Players to Emphasize On Developing Solutions to Gain More Customer Base"
Key players are focusing on upscaling their market position by updating their product portfolio. The major players also emphasize developing solutions to meet the organizational applications' needs. Additionally, the market players strive to grow consistently to offer services of enhanced video collaboration to gain more customers in the regional market. The companies are working on improving their product range through partnerships and product feature additions to maintain the same momentum in the upcoming quarters.
List of Market Players Profiled
- Berlitz Languages (U.S.)
- Vipkid (China)
- Pearson ELT (U.K.)
- Sanako Corporation (Finland)
- 51talk (China)
- Inlingua International (Switzerland)
- Rosetta Stone (U.S.)
- EF Education First (Switzerland)
- New Oriental (China)
- Wall Street English (Spain)
- iTutorGroup (Taiwan)
- Babbel (Germany)
- Busuu (U.K.)
- Eleutian Technology (U.S.)
INDUSTRY DEVELOPMENT
- March 2020- Sanako Corporation introduced a fastened subscription to Sanako Connect, a brand new remote language lecture room answer for schools. Sanako Connect permits college students and instructors to get access to classes from anywhere with the usage of a laptop, Chromebook, or tablet. Additionally, it allows text and audio-based communication between students and teachers.
REPORT COVERAGE
The report emphasizes studying and analyzing the global market based on its segment, regions, and key competitors. The information constitutes major factors responsible for the development of the market and surges the language learning platforms market growth. The report focuses on the key players and their headquarters. Regional analysis is also presented in the report to explain the contribution of various regions to the growth of the market. It constitutes market trends and restraints to understand the market appropriately. This report is a comprehensive insight into the market.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 1943.1 Million in 2021 |
Market Size Value By |
US$ 9704.29 Million by 2031 |
Growth Rate |
CAGR of 17.3% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the language learning platforms market expected to touch by 2031?
Based on our research, the language learning platforms market is projected to touch USD 9704.29 million by 2031.
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What CAGR is the language learning platforms market expected to exhibit by 2031?
The language learning platforms market is expected to exhibit a CAGR of 17.3% by 2031.
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What are the segments of the language learning platforms market?
By type, the language learning platforms market is segmented into cloud-based and on-premise. Based on application, the market is classified into personal and education institutions.
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Which are the driving factors of the language learning platforms market
The rising need for flexible hours of learning to surge growth and inclination toward online platforms to drive service demand are the factors driving the language learning platforms market.
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Which are the top companies operating in the language learning platforms market
Berlitz Languages, Vipkid, Pearson ELT, Sanako Corporation, 51talk, Inlingua International, Rosetta Stone, EF Education First, New Oriental, Wall Street English, iTutorGroup, Babbel, Busuu, and Eleutian Technology are the top companies operating in the language learning platforms market.