Globalization and the need to communicate globally for development and employment are providing opportunities to the global foreign language learning software market.
The global Foreign Language Learning Software market worth USD 429.5 billion by 2030, growing at a CAGR of 16.5%
Covid-19 Impact & Market Status
COVID-19 has severely impacted many business companies but the foreign language learning software market has experienced significant growth and progress. During the lockdown, people had no outdoor enjoyment, hence, they developed various hobbies that can help them to enjoy and gain new skills. Many people started learning foreign languages, as there was no possibility of offline lectures, they shifted to online mode. For this, various potential companies along with educational institutes developed various software platforms that can be accessed by the learners to learn any particular language. These software learning platforms have various features that provide support and tutoring to their learners. This helped in the growth of the global foreign language learning software market by providing employment opportunities to various individuals.
The e-learning platform and the English language are driving the foreign language learning software market.
With rapid development and globalization, people are urged to learn foreign languages. Various online platforms support various communities across the globe. These communities can be interactive only if people can communicate with each other in a specific language, hence, people are trying to learn multiple foreign languages so that they can connect across the globe. In this way, a foreign language learning software platform is providing networking opportunities to various nations. This networking and connectivity have brought many foreign projects, hence, helped in increasing foreign trade and investments that increase the rate of employment and increase the GDP of a nation.
Many nations are spending their income and other resources to make their residents, mainly the workforce, learn various foreign languages in which the English language is the dominant one. Many people learn these languages out of interset so that they can know more about a particular culture, place, or religion.
The increase in foreign trade and investments is driving people to learn foreign languages to be able to communicate efficiently.
Globalization is turning the way of development and trade to a modern aspect where people are closely indulged with the culture of different regions. This helps in understanding the resources and business strategies of people across the globe. Hence, there is an urgent requirement for a capable workforce that can communicate for foreign trade and investments. For this, students are being trained at their institutes or they can do individual courses out of their interest.
This helps an individual to expand his knowledge circle and dive deep into the culture and education system of different nations. Hence, there is the requirement of a platform that will help individuals of a group of people to learn and understand different languages. For this, many potential companies are developing various software platforms where people can learn different foreign languages like French, English, Spanish, Chinese, etc.
These foreign language learning platforms are in great demand due to their effective support and tutoring features. They help to clarify maximum doubts of a learner and help him in proper pronunciation and writing of different syllables in the preferred language. These platforms provide multiple choices to a learner where various courses are available with fixed total duration and assignments to test the learning of a participant. Various language learning software provides a certificate after their completion that helps the learner to validate the skills that he has acquired. Hence, they get proof of their learning that is essential while applying for the jobs that require foreign language skills in their candidates.
To communicate globally, it is required that an individual must have English communication skills because the English language has been widely adopted as the global language for communication and transfer of information. With this, many countries have made English a mandatory language in the curriculum of its students. Most developing countries are focusing on the English language because it provides high employment opportunities for its residents in the communication and mass media sector. Currently, there is a high opportunity in the communication sector and this requires a candidate with skills and knowledge of various foreign languages. Hence, the global foreign language learning software market is increasing rapidly because software platforms are convenient learning tools where an individual can learn at his convenience. People are living a busy life where there is an urgent requirement to manage time, hence, for learning, they require software platforms from which they can learn at any time and any place. In this way, they can learn and increase their employment opportunities.
This software promotes distance learning, hence, people of remote regions enjoy the benefit of learning and developing their skills. These software platforms come with varying features as some support real-time interactions and some have recorded lessons.
Though these platforms have high advantages, some of the courses can be very expensive. Generally, the courses offered by reputed organizations have high costs as they provide the learners with quality materials, take their regular tests, and provide them free mentoring or counseling sessions. Hence, they cover their service charges by providing each learner with these facilities to clarify his doubts and set a proper goal. The other requirement for using these software platforms is the availability of the internet. These online classes require the internet so that the learner can access them and the other resources that are provided with these lessons. The e-learning market is growing because many employed workers are learning foreign languages so that they can undertake various foreign projects for the promotion and development of their company.
The major players of the global foreign language learning software market are Rosetta Stone, Sanako, Duolingo, Pearson, Babbel, Yabla Inc., Busuu Ltd., Verbling Inc., Fluenz, Preply Inc., Lingoda GmbH, Culture Alley, EF Education First Ltd., Speexx, Memrise Inc., iTutor Group, Open Education LLC, Linguistica 360 Inc., Mondly Languages, FluentU, and Houghton Mifflin Harcour.
Latest Innovations in the Global Foreign Language Learning Software Market: a Snapshot
- Fluent has launched the latest platform to aid immersive technology-based foreign language learning platform.
Foreign Language Learning Software Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||USD 429.5 billion|
|Growth Rate||CAGR of 16.5% during 2021-2030|
|Segment Covered||Sector, End-user, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||BYJU'S,,Blackboard Inc.,,Chegg, Inc.,,Coursera Inc.,,Edutech,,edX Inc.,,Google LLC,,Instructure, Inc.,,Microsoft,,Udacity, Inc.,,upGrad Education Private Limited|
Key Segments of the Global Foreign Language Learning Software Market
Product Overview, 2018-2028 (USD Billion)
Type Overview, 2018-2028 (USD Billion)
End-Users Overview, 2018-2028 (USD Billion)
- Corporate Learners
- Government Learners
- Individual Learners
- Educational Institutes
Components Overview, 2018-2028 (USD Billion)
Deployment Type Overview, 2018-2028 (USD Billion)
Business Type Overview, 2018-2028 (USD Billion)
- Business-to-Business (B2B)
- Business-to-Customer (B2C)
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa