Language Learning Apps market projected to grow at a CAR of 22.8% during forecast period and Asia-Pacific is emerging as the most dominant regional market.
Dallas, Texas, Aug. 15, 2022 (GLOBE NEWSWIRE) -- A CAGR of over 22.8% is predicted between 2022 and 2029 for the global language learning market size & share revenue, which was valued at USD 18.2 billion in 2022 and is expected to surpass USD 32.5 billion by 2029.
The global language learning application market is expanding as a result of the low costs and convenience it offers. Programs for learning a language online are less costly than those offered offline. Other advantages of online learning include simple registration, live chats and forums, rapid feedback on tests and quizzes, and self-paced instruction. As a result, the benefits of online language learning and its cheap cost will fuel the expansion of the global online language learning market during the course of the projected period.
A free subscription to Sanako Connect, for instance, was made available by Sanako Corporation in March 2020, a new remote language classroom option for schools. Using a laptop, Chromebook, or iPad, students and instructors may attend sessions from anywhere using Sanako Connect. The platform also enables voice and text-based communication capabilities for teachers and students.
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The language learning application industry is developing swiftly as a result of economic globalization and consumer acceptance of low-cost technology-based products. Additionally, the increased internet and mobile phone usage as well as the inclination of international corporations for bilingual staff present development prospects for the participants in the online language learning industry.
During the projected period, artificial intelligence (AI) in language learning will present a challenge to the online language learning industry. When compared to conventional techniques of language learning, the use of AI in language learning shortens the time required to learn a language. Online language learning platforms have highly relevant curriculum that are tailored to the demands of their students.
Language Learning Application Market Overview:
Product, Language type, Mode, Regions
English, French, Spanish, Mandarin Chinese, German, Italian, Arabic, Japanese, Korean, others
consumer, K12, government, corporate, non-profit, higher education department {HED})
North America, Europe, Asia Pacific, Middle East and Africa, South America
Sanako Corporation (Finland), Berlitz Corporation (U.S.), Babbel (Germany), Inlingua International Ltd. (Switzerland), Busuu Ltd (U.K.), Duolingo Inc. (U.S.), iTutor Group (Taiwan), Rosetta Stone Inc. (U.S.), Open Education LLC (U.S.), Memrise Inc. (U.K.), and Linguistica 360, Inc. (U.S.)
Globalization has facilitated cultural and racial harmony. The U.S. Council on Foreign Relations asserts that the global economy is moving away from the English-speaking world because firms must overcome linguistic barriers in order to survive and prosper in a global market. Additionally, it has been found that international customers prefer information in their own language, and it is believed that 60% of online shoppers rarely or never make purchases from English-only websites.
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Additionally, 74.5% of consumers are more inclined to purchase goods if the product's information is available in their language. Additionally, language learners can get training in a flexible environment with the aid of e-learning. In addition to giving users freedom, this feature also makes it easier for them to manage their time and other obligations. As a result, the expansion of the language learning application market is primarily driven by the rise in technical breakthroughs and e-learning capabilities.
According to language type, the English language segment is anticipated to be dominated in 2021. Some of the key causes driving up demand and acceptance of the English language include growing globalization, awareness of the need to improve one's English language abilities, preference for English over other languages, and recognition of English as the universal language.
The Asia-Pacific region is likely to grow at a highest market share in the coming period. Due to factors like increasing enrollment in online higher education, swift international company growth, a sizable young population seeking better employment opportunities, rising smartphone penetration, teacher shortages in rapidly developing countries, government plans for national online education networks, the increasing digitalization of content, the Asia Pacific region is predicted to have the fastest rate of regional market growth during the forecast period.
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Major Points from Table of Contents: 1. Introduction 2. Research Methodology 3. Market Outlook 4. Language learning application Market by Product, 2017-2027 (USD Billion) 5. Language learning application Market by Language Type, 2017-2027 (USD Billion) 6. Language learning application Market by Mode, 2017-2027 (USD Billion) 7. Language learning application by Region 2017-2027 (USD Billion) 8. Competitive Landscape 9. Company Profiles 10. Appendix
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