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The English language training market growth is attributed to rapid globalization and industrialization. The rising mobile phone and internet user base is another crucial factor that drives the demand for online English language training. The increasing number of English language learners is the key factor responsible for driving market growth.
The growing preference for a multilingual workforce by multinational companies offer growth opportunities for the market players that operate in the language learning market. The ever increasing necessity for communication across borders is escalating the demand for English language training market. The rising E-learning market and penetration of artificial intelligence (AI) in e-learning are factors responsible for driving the market growth.
The ever-increasing demand for English vocational training would be likely to offer immense market growth opportunities. The market is also driven by the high demand for vocational language training and proficiency assessment and certification. However, the arrival of open-source courses and learning material is expected to pose a challenge for the vendors.
Key Market Driver -
• The globalization of economy would likely to drive the market growth • Growing preference for a multilingual workforce by multinational companies to stimulate the market growth
Key Market Restraint -
• Insufficient knowledge and lack of awareness to hamper the market growth.
Numerous small and large vendors have operated a highly competitive landscape of the English language training market. Key market players are adopting fundamental business strategies such as product launch, product enhancements to elevate their market position.. The English language learning market has witnessed numerous new product launches, collaborations, and acquisitions in recent years. In January 2020, the United Kingdom-based Busuu, Ltd. launched Verbling Live Tutorial to provide 24/7 human-driven live lessons to over a million users worldwide. Numerous vendors have started offering free trials of English vocational training during the COVID-19 pandemic period. For instance, the United States-based Rosetta Stone Inc. announced the free unlimited language tutoring for all subscribers through June 2020. Thus, key players are adopting various organic and inorganic growth strategies to drive their business.
Major players in the market include Berlitz Corp., Coursera Inc., edX Inc., EF Education First Ltd., inlingua International Ltd., Language Trainers Corp., Pearson Plc, Rocket Languages Ltd., Rosetta Stone Ltd., and The Linguist Institute Ltd., Cambridge University Press, Sanako Corporation, Duolingo Inc., Transparent Language, Inc., Busuu, Ltd., New Oriental Education & Technology Group Inc., Houghton Mifflin Harcourt, Memrise Inc., McGraw-Hill Education, Inc., Lesson Nine GmbH, and ELSA Corp.,and among others.
Europe and North America are expected to drive market growth significantly, owing to the presence of a large number of prominent vendors. Significant government funding and support for the educational sector's development is another prime factor that drives the global market growth. For instance, in May 2020, the Russian Ministry of Telecom and Mass Communications has provided about USD 4.31 million to develop online educational services. Similarly, initiatives taken by European organizations are further supporting language training programs. In March 2020, Russian-based Yandex introduced a full distance-learning platform.
The Asia Pacific would likely emerge as a leading region in the global English language training market. Expanding the educational sector is one of the key factors for driving the English language training market. Apart from this, favorable government initiatives and rising funding for education are other prime reasons for driving the market growth across the Asia-Pacific. For instance, In 2020, India's government announced an investment of about USD 12.8 billion (INR 94,800 crores), focusing on enhancing school and higher education programs. Further, rising internet and smartphone penetration escalating the demand for the English language training market across the region.
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