Albany, NY -- (SBWIRE) -- 05/02/2018 -- Cloud-based language learning solutions have significantly evolved in a very brief time since their introduction sometime less than a decade ago. This nascent market has witnessed impressive growth across several regional markets with well-established cloud and networking infrastructure and continues to embark upon an impressive growth path across many emerging economies across regions such as Asia Pacific. Factors central to cloud computing, such as less operational cost, immense flexibility, easy setup and maintenance of resources, and centralized data storage, allowing access to data anytime, anywhere, have been the key encouragement for language learning companies to switch to cloud from conventional networking models.
In the next few years, cloud-based language learning solutions are expected to become the de facto standard of the language learning industry. Transparency Market Research estimates that the global cloud-based language learning market was worth US$146.3 mn in 2016. The market is expected to reach US$427.5 mn by 2025, expanding at a promising CAGR of 12.8% from 2017 to 2025.
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On the basis of training type, the global cloud-based language learning market is segmented into education and corporate. The education segment comprises students in schools and students taking courses in higher education. The corporate segment includes business learners learning languages for various business-related purposes. In 2016, demand for cloud-based language learning solutions in the corporate sector accounted for nearly 50% of the revenue of the global cloud-based language learning market. Over the forecast period, however, the education segment is expected to grow at a higher CAGR compared to the corporate segment.
Based on language, the global cloud based language learning market is segmented into English, Spanish, Chinese, French, German, Japanese, Italian, and Russian. Of these, the segment of English is expected to be the leading adopter of cloud-based language learning solutions in the near future. This is attributable to the rising demand for online English training courses as the language increasingly becomes the preferred language of communication in the fields of academics and businesses across the globe.
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From a geographical perspective, the North America market is leading contributor of revenue to the global cloud-based language learning market. In 2016, the region accounted for around 50% of the overall revenue of the global cloud based language learning market. The leading position of North America in the market is primarily attributable to the vast spending on English language learning courses by foreign students enrolled in higher education institutions in the region.
Over the report's forecast period, the market for cloud-based language learning in Asia Pacific is expected to witness growth at the most promising pace. Countries such as India, China, and Japan in the region are expected to be at the forefront of adoption of cloud-based language learning solutions owing to the vast improvements in networking and technological infrastructures. The market in Asia-Pacific is also fuelled by the large scale adoption of learning technologies in schools and digitization initiatives in academic institutes. Governments in these and other countries in the region have mandated language learning initiatives in school systems, which is also expected to drive the market.
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In the highly fragmented vendor landscape of the global cloud-based language learning market, companies resort to growth strategies such as acquisitions and partnerships to expand their global footprint and simultaneously expand their consumer base. Some of the leading players operating in the market are Duolingo, Linguatronics LC, Rosetta Stone Inc., Speexx, Lesson Nine GmbH, Sanako Corporation, SANS Inc., Culture Alley, Voxy Inc. and EF Education First Ltd.