According to our latest market study on “Europe Corporate Language Learning Market Forecast to 2027 – COVID-19 Impact and Analysis – by Business Type (Business-to –Business and Business-to-Customer); Language Type (English, Mandarin, Spanish, German, and Others), and Countries,” the market was valued at US$ 266.7 million in 2019 and is projected to reach US$ 749.6 million by 2027; it is expected to grow at a CAGR of 14.1% from 2020 to 2027.
Self-paced learning is gaining immense traction with employees' rising willingness for their personal development. Employees have started controlling their personal development by adopting language learning at their own pace. E-learning language programs enable employees to receive training at their ease, without interrupting their existing commitments. Language training can be attended at work location, home, or any location by accessing synchronized training modules on their mobile devices. Targeted learning methods that adjust to individual learning styles can provide a learning experience, which moves at a speed that aligns with each individual. Online mode, self?paced, language learning environments, as well as mobile apps, deliver several possibilities for foreign language learners to discover diverse types of materials and use the authentic target language, which is creating prosperous opportunities for the players operating in the corporate language learning market.
The adoption of cloud-based language learning services plays a vital role in boosting the growth of the Europe corporate language learning market due to the increased penetration of the Internet. The environment for technology-aided learning, be it classrooms or workspaces, facilitates the smooth delivery of knowledge. Moreover, the rising demand for digital education is one of Europe's major trends in the corporate language learning market. Through audio, videos, presentations, online courses, mobile apps, and e-books, digital learning includes interactive and engaging techniques. It helps to assimilate better and absorb data, allows lessons to be personalized, and tracks individual performance, thus, leading to enhanced learning process.
Also, to maintain a competitive edge, market players rely on mergers and acquisitions and partnerships. For example, in January 2020, Busuu Ltd acquired Verbling, a US-based live video tutoring company. The acquisition would allow the business to expand its platform of language learning. Similarly, Busuu announced a strategic partnership with Amazon and Google in 2018 to provide an education bot for Alexa and Google Assistant, the companies' respective intelligent personal assistant interfaces. All such factors are anticipated to propel the growth of Europe corporate language learning market during the forecast period.
The report segments the Europe Corporate Language Learning Market as follows:
Europe Corporate Language Learning Market– by Business Type- Business-to –Business
- Business-to-Customer
- English
- Mandarin
- Spanish
- German
- Others
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe