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In a recently published report, Digital Language Learning Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Digital Language Learning Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Digital Language Learning Market is valued approximately at USD 6.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 13.4% over the forecast period 2020-2026. Digital Learning is reshaping education in unprecedented ways. The education sector is transforming exponentially on the back of various initiatives undertaken by governments and private organizations to deliver digitally enhanced performance.
The digital language learning will provide different languages and one can learn any language at any time through digital based platform. The increased adoption of English as a language for business communications across the globe as well as growing popularity of digital learning across various sectors are the few factors responsible for growth of the market over the forecast period. Furthermore, the rising advancements and introduction of products and service and other strategic alliance by market key player will create a lucrative demand for this market. For instance: as per Company's news release in March 2020, Babbel has started providing free services to all K-12 and college students in Italy, U.K., Germany, Spain and France due to Covid-19. The service currently offers courses for Spanish, French, German, Italian, Portuguese, Polish, Russian, Dutch, Turkish, Danish, Norwegian, Swedish, Indonesian and English until the end of COVID-19 pandemic. However, high risk of piracy with offline content and data security with online content is the major factor restraining the growth of global Digital Language Learning market during the forecast period.
The regional analysis of global Digital Language Learning market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026.
Major market player included in this report are:
Babbel
Busuu Online S.L.
Fluenz
Lingoda GmbH.
Living Language (Penguin Random House, LLC)
Pearson PLC
Preply, Inc.
Rosetta Stone, Inc
Verbling, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Language Type:
English
Mandarin
Spanish
German
Others
By Deployment Type:
Cloud
On-Premise
By Business Type:
Business-To-Business
Business-To-Customer
By End User:
Academic
Non-Academic
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Digital Language Learning Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Billion)
1.2.1. Digital Language Learning Market, by Region, 2018-2026 (USD Billion)
1.2.2. Digital Language Learning Market, by Language Type, 2018-2026 (USD Billion)
1.2.3. Digital Language Learning Market, by Deployment Type, 2018-2026 (USD Billion)
1.2.4. Digital Language Learning Market, by Business Type, 2018-2026 (USD Billion)
1.2.5. Digital Language Learning Market, by End User, 2018-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Digital Language Learning Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Digital Language Learning Market Dynamics
3.1. Digital Language Learning Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Digital Language Learning Market: Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Digital Language Learning Market, by Language Type
5.1. Market Snapshot
5.2. Global Digital Language Learning Market by Language Type, Performance – Potential Analysis
5.3. Global Digital Language Learning Market Estimates & Forecasts by Language Type 2016-2026 (USD Billion)
5.4. Digital Language Learning Market, Sub Segment Analysis
5.4.1. English
5.4.2. Mandarin
5.4.3. Spanish
5.4.4. German
5.4.5. Others
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