Press release -
Foreign Language Learning Market Industry Statistics
Foreign Language Learning Market Size By Product (Solutions, Courses, Support), By Type (French, English, Mandarin, German, Spanish, Korean, Japnese, Italian), By End-Use (Corporate Learners, Government Learners, Individual Learners, Educational Institute) Forecast 2020 To 2026
This Foreign Language Learning Market report additionally covers the effect of COVID-19 on the worldwide market. The pandemic brought about by Coronavirus (COVID-19) has influenced each part of life all inclusive, including the business segment. This has brought along a several changes in economic situations.
Global Foreign Language Learning Market is expected to grow with the CAGR of 18.9% over the forecast period.
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Increasing in multinational companies across the globe attempts to facilitate the communications boosts the growth of Global Foreign Language Learning Market
Key Players for Foreign Language Learning–
Global Foreign Language Learning Market report covers the prominent players like sanako, Pearson, Houghton Mifflin Harcour, Duolingo, Rosetta Stone and others.
Rosetta Stone Acquired by Cambium Learning Group Arbitrage at a Huge Premium
September 7th, 2020; Rosetta Stone Acquired by Cambium Learning Group Arbitrage at a Huge Premium. The acquisition of Rosetta Stone by Cambium Learning Group comes at the time when the entire world is moving towards digital learning. This transaction represent the next step on the path that over the past several years has transformed the language business and built a previously small K-12 software business into growing leader in education technology. The deal values Rosetta at $30 at a premium of about 87.5% to Rosetta stone’s unaffected closing price on July 16, 2020.
Language learning is the term known as the process of becoming to adapt a new language. The globalization and expansion taking place into all new geographies at an increased pace which increased the need for language learning, a lot of new cultural diversities and patterns of communication have been demanding the learning of courses and programs. The virtual world has been playing an important role in lot of sectors particularly in the language learning. English language is estimated to command the largest share of the overall language learning market. The adoption of English as a global language is the major factor fostering the adoption and demand for English language. Virtual worlds are playing an important role in language learning market as companies which are involved in the hospitality and retail sectors are heavily reliant on strong workforce across different countries, the company recruit local employee for their global office locations as they train the existing employee through language learning programs and courses.
Global Foreign Language Learning Market Segmentation:–
By Product: Solutions, Courses, Support
By Type: French, English, Mandarian, German, Spanish, Korean, Japnese, Italian, Others
By End-Use: Corporate Learners, Government Learners, Individual Learners, Educational Institute
The regions covered in global foreign language learning market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, global foreign language learning market sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Foreign Language Learning Market Dynamics–
The key factor for growth of global foreign language learning market is growing need for communications across the border and globalization. Globalization had brought culture and people closer together and rising of multinational company’s globally. According to United National Conference on Trade and Development (UNCTAD) between 1990 and 2016 the total assets of MNC foreign affiliates grew to $112 trillion, sales of MNC rose to $37.5 trillion and the value of export of MNC foreign affiliates to 82 million. However, the cost required to learning new language is quite high which may restrain the growth of global foreign language learning market. The underdeveloped and undeveloped region may do not afford which also can affect the growth of market. In spite of that, the flexible pricing structure can provide more growth opportunities of the further growth of the global foreign language learning market. The companies of language learning are adopting innovative, flexible and attractive pricing strategies to establish their presence in the global foreign language leaning market.
Global Foreign Language Learning Market Regional Analysis–
North America is expected to dominate the global foreign language market due to the increase in use of artificial intelligence by the provider of online services. The AI can reduce time which is taken for learning of language by the service providers online. Asia Pacific is expected to witness a significant growth in the global foreign language learning market due to the increase in numbers of students who are going to abroad for their higher studies. The rising of multinational companies in which significant young population looking for better job opportunities increases the growth of foreign language learning market in this region. Around 300-400 million Chinese student are learning English.
European Union is also estimated to have significant shares in global foreign language learning market due to rise in penetration of smartphones and increase in digitalization of content in this region. The initiatives taken by government for national online education network and shortages of teachers in rapidly developing countries increase the growth of market. According to research around 66% of all European adult have knowledge of more than one language.
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