Published on : Aug 25, 2016
ALBANY, New York, August 25, 2016: A new market research study has been added by ResearchMoz.us to its comprehensive collection of research reports. The 121-page research study, titled “Global Cloud-based Language Learning - Strategic Assessment and Forecast Till 2021,” provides an in-depth analysis, emphasizing on the growth factors and challenges in the global market. According to the market research study, the global market for cloud-based language learning is projected to reach a value of US$6 bn by the end of 2021. The market is estimated to exhibit a 6.05% CAGR between 2015 and 2021.
The increasing penetration of the Internet and the rising demand for Internet-enabled devices across the globe is one of the key factors estimated to bolster the growth of the global cloud-based language learning market in the next few years. Moreover, the increasing rate of migration of workforce and students is estimated to contribute extensively towards the development of the overall market. Furthermore, the emergence of cost-effective platforms for language learning has encouraged the participation of several entrants and startups in the coming few years.
Furthermore, the gamification of the language learning field is projected to create several opportunities for the key players in the cloud-based language learning market across the globe. However, the growing need for investments and a sustainable monetization model are some of the challenges estimated to curtail the growth of the market in the coming few years.
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The global market for cloud-based language learning has been categorized on the basis of language into Spanish, Arabic, English, Chinese, and others. Among these, in 2015, the English language learning segment led the global cloud-based language learning market, accounting for a 63% share. Furthermore, on the basis of use, the global market for cloud-based language learning has been divided into vocational training, higher education, K12, corporate training, examination training, and others. In 2015, the vocational training segment held a 26% share in the global market.
Furthermore, the research report has classified the global cloud-based language learning market on the basis of geography into APAC, the Middle East, North America, Europe, Latin America, and Africa. The APAC region is estimated to account for a massive share in the global market and is projected to remain in the leading position in the next few years. The market share and growth rate of each region have been included in the research report in order to give a clear picture of the market and the guide the existing and new players in making strategic decisions in the next few years.
The research study has profiled some of the leading companies operating in the market and also offers a thorough analysis of the competitive landscape of the global cloud-based language learning market. The prominent players engaged in the cloud-based language learning market across the globe include Rosetta Stone, Duolingo, Speexx, Babbel, and Busuu. Some of the other key players mentioned in the research study are Livemocha, Edusoft, Okpanda, Linguatronics, Sanako, Sanoma, Software and Network Solutions, Memrise, 50 languages, and Voxy.
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