LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global online language subscription courses market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global online language subscription courses market will grow at a CAGR of almost 19% during the forecast period. The growth of third-party service providers is a major factor driving the market’s growth.
Educational institutions are outsourcing services to third parties to conduct online language learning classes as it is more cost-effective. Start-ups and other small institutes are unable to bear set-up costs. Therefore, they outsource the services and subscribe for institutional language learning packages. Large-scale organizations are also outsourcing services to third-parties for detailed insights on what would be beneficial to them in terms of cost-effectiveness and equip the employees with effective language skills. Online learning has made overall corporate training cost-effective and more efficient as corporates can dedicate internal resources on strategic activities in training programs.
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In this report, Technavio highlights the deployment of cloud-based services as one of the key emerging trends in the global online language subscription courses market:
Deployment of cloud-based services
The increasing adoption of technology-aided tools and techniques have increased the efficiency of delivering knowledge to a large audience. In the academic and corporate segment, learning and development activities pertaining to storing, managing, and accessing information has been shifting to the cloud. The adoption of cloud-based services for language learning is playing a key role in boosting the growth of the online language learning market because of an increase in Internet access among language learners. The speed of course implementation and availability of developed versions, followed by reduced marginal capital expenses are the major benefits of software-as-a-service (SaaS) based solutions.
“Most organizations and educational institutions are shifting to SaaS learning management system to impart education and training programs. A major vendor provides language learning solutions to allow teachers, administrators, and students to access and manage notes, announcements, classes, calendars, and assignments online,” says a senior analyst at Technavio for research on education technology.
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Global online language subscription courses market – segmentation analysis
This market research report segments the global online language subscription courses market by language (English, Mandarin, And Spanish), by end-user (individual learners and institutional learners), and key regions (the Americas, APAC, and EMEA).
The individual learners segment held the largest market share in 2017, accounting for nearly 65% of the market. The market share of this segment is expected to decrease by almost 5% by 2022. But, this segment will dominate the market throughout the forecast period.
APAC dominated the global online language subscription courses market in 2017, accounting for a market share of approximately 41%. The market share of this region is anticipated to increase by around 3% during the forecast period.
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