Dive Brief:
- Technavio has published the results of an Orbis Research study forecasting a 9.31% total compound annual growth rate (CAGR) of the online language learning market between 2017 and 2021.
- According to the study, two of the biggest drivers of increased online language learning include a higher level of trade with emerging economies on a global scale and a rise in the use of mobile devices for learning.
- The top 10 vendors having the most influence on the online language learning markets are: Berlitz , Linguaphone, Linguarama, Sanako, Education First , Fluenz, Inlingua, LearnCube, Rosetta Stone and SANS
Dive Insight:
In an ever-expanding global business scene, there is no place for language barriers. Organizations are tasked with finding solutions for connecting employees and clients globally based on a level of understanding when it comes to linguistic and cultural differences.
Online language learning is becoming more vital in terms of employee skill development. In fact, companies are turning to this as a resource for bringing global teams together. Providing access to online learning opportunities is not only convenient, but it addresses the immediate needs of people to learn language basics on the job.
The online platform provides access to language and translation tools that employees can use while traveling to other parts of the world, where business is happening. Online language tutoring can prepare expatriate employees for more long term assignments. In Europe, it's an even bigger need to speak multiple languages, so the growth rates of nearly 10% are not surprising given this market.
