Market Introduction
The corporate language learning market in Europe is propelled by factors such as rising globalization, employee development, and the advent of new technologies. Several companies are recognizing the significance of having multilingual employees across different business lines and functions, which is boosting the corporate language learning market. The acquisition of multilingual employees in an organization delivers numerous benefits in terms of international growth, including enhanced customer service, general business growth, and business development.
Market Overview and Dynamics
The Europe corporate language learning 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. Companies are investing in language learning to increase the productivity of their employees. In corporate world, communication is an essential factor for national as well as international business operations; however, international operations create barriers concerning diverse languages. Miscommunication can directly impact a company’s profitability and expansion. Also, unsuccessful communication with a client could lead to the end of a business-client relationship. Additionally, miscarried communication with key partners or suppliers may have severe strategic and financial problems.
Language learning has been a vital part of international businesses. Enterprises in the UK are focusing on prioritizing language learning owing to Brexit. Enterprises are seeking to work with global suppliers and clientele potentially. The companies in the UK are aiming to attain a stable base in a changing political climate. Language learning is an important factor, as lack of language skills would result in losing a competitive edge. Thus, as an integral part of company’s global expansion, language learning programs help their employees better engage with customers, suppliers, and other stakeholders in the native language, resulting in enhanced conversations and productive outcomes. Therefore, to keep up globalization, several organizations in the European region are including second language learning programs in their key company strategies, which is propelling the growth of corporate language learning market.
Key Market Segments
Based on business type, the Europe corporate language learning market is bifurcated into business-to-business and business-to-customer. Based on learning type, Europe corporate language learning market is segmented into English, Mandarin, Spanish, German, and Others.
Major Sources and Companies Listed
The market for corporate language learning is fragmented, and it is expected that the level of fragmentation would increase during the forecast period. Some of the key players profiled in the corporate language learning market research study include Berlitz Corporation, Busuu Ltd, EF Education First, fluenz, inlingua International Ltd., Learnlight, Lesson Nine GmbH, Lingoda GMBH, Memrise Limited, and Rosetta Stone Ltd.
Reasons to buy report
- To understand the Europe Corporate Language Learning Market landscape and identify market segments that are most likely to guarantee a strong return
- To stay ahead of the race by comprehending the ever-changing competitive landscape for the Europe Corporate Language Learning Market
- To efficiently plan M&A and partnership deals in the Europe Corporate Language Learning Market by identifying market segments with the most promising probable sales
- To help take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segments of the Europe Corporate Language Learning Market
- To obtain revenue forecast for market by various segments from 2020 to 2027 in Europe
EUROPE CORPORATE LANGUAGE LEARNING MARKET SEGMENTATION
Europe Corporate Language Learning Market– by Business Type
- Business-to –Business
- Business-to-Customer
Europe Corporate Language Learning Market– by Language Type
- English
- Mandarin
- Spanish
- German
- Others
Company Profiles:
- Berlitz Corporation
- Busuu Ltd
- EF Education First
- Fluenz
- inlingua International Ltd.
- Learnlight
- Lesson Nine GmbH
- Lingoda GMBH
- Memrise Limited
- Rosetta Stone Ltd