English is a lingua franca or a common language that allows
people who do not share a dialect to communicate. While standard Chinese and
Spanish have the most native speakers globally, English is the most-used
official language and the most widely spoken second language. In addition to
the large population speaking English, it has become the most widely used
language in the world of trade and commerce over the past decade or two. As a
result, having excellent knowledge of English for business has become vital for
success in any employee’s career. Enhanced communication skills in English can
result in an improved social life and better job opportunities in the future.
Communication skills are crucial from job interviews to the actual professional
world and being proficient in English means communicating clearly and
effectively.
According to Babbel GmbH (Germany), in 2021, out of the
world’s approximately 7.8 billion population, 1.35 billion speak English. About
360 million people speak English as their first language. Also, in Europe, it
is estimated that more than 212 million English speakers are present, and in
India, there are approximately 265 million speakers of English. English is
spread throughout the Americas, making it hard to tabulate exactly, but it is
likely around 350 million. Most native English speakers live in the U.S.— about
297.4 million. Another 30 million native English speakers reside in Canada.
Download Research Report PDF @ https://www.meticulousresearch.com/download-sample-report/cp_id=5127?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=14-03-2023
Proficiency in the language has also made it a vital part of
success in the highly competitive corporate world. Many reputed organizations
worldwide rely on English as a means of communication in everything from emails
to corporate documentation to even popular and well-read business resources in
print and electronic media. Fluency in written and spoken English is critical
in many aspects of corporate life, from securing employment to communicating
with clientele and achieving cohesive business partnerships worldwide. English
is the dominant business language if a person wishes to be a part of the global
workforce. Research worldwide shows that cross-border business communication is
often conducted in English, and many international companies expect employees
to be fluent in English. For instance,
Global companies such as Airbus SE (Netherlands),
Mercedes-Benz Group AG (Germany), Fast Retailing Co., Ltd. (Japan), Nokia
Corporation (Finland), Groupe Renault (France), and Microsoft Corporation
(U.S.) have mandated English as their official corporate language. Further, it
is estimated that over 50% of the pages on the Internet are written in English,
which means that more online information is available to people who can read
English.
In ITT Motion Technologies Gmbh (Italy), an engineering
company, every senior employee is expected to speak English, and most
communications are delivered in English. Although it is not considered an
official corporate language, it is the only language that everyone can
generally speak in common.
Apart from this, English has become a global language for
business worldwide to such an extent that it is also the standard official language
in certain industries, such as shipping and airline. It has resulted in the
knowledge of English becoming a near-mandatory requirement for critical jobs
such as airline pilots, naval officers, etc. Apart from having an impressive
command of spoken English, today’s competitive corporate culture also demands
an equally impressive command of written English. It is mainly because almost
all forms of business communication, such as emails, presentations, sales &
marketing, and even corporate legal documentation, are now carried out in
English. The rising importance of the English language increases the number of
startups through investments to accelerate the English language learning
platforms.
Speck to our analyst @ https://www.meticulousresearch.com/speak-to-analyst/cp_id=5127?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=14-03-2023
In 2020, MyBuddy.ai, a U.S.-based ed-tech startup, received
an investment of USD 1 million from the Venture capital firm LETA Capital. This
investment has been done to improve further the mobile application developed by
the company whose AI-voice virtual tutor is teaching spoken English to children
and launching the application in new regions.
In 2020, Bengaluru-based ed-tech startup Multibhashi
received an undisclosed amount in funding from Inflection Point Ventures (IPV),
Param Capital, and Cactus Communication to invest in building new tech features
to expand the Personalized English Learning Platform.
In 2020, Gurugram-based WhizKidz Media, an ed-tech startup
operating for the kids-focused learning platform OckyPocky, received USD
400,000 from Lead Angels. Due to the COVID-19 pandemic, the company had to face
the crashing of their servers due to increased traffic and downsizing the
product, but with the investment, the company will improve the OckyPocky
platform and help kids to learn English.
In 2020, Palfish, a Chinese online English learning
platform, raised USD 120 million in a Series C funding round to enhance its
educational products and services. The funding will be used to continue
cultivating children’s English and creating more product forms that meet user
needs.
Also, in some places where there is a shortage of native
English speakers, English teaching robots have been in high demand. In 2020,
robots became an effective way for students and teachers to work together in a
safe environment while observing social distancing. Many players are developing
English-teaching AI robots, such as the Elias Robot by Utelias Technologies Oy
(Finland), which includes ready-made courses designed by experienced teachers
for several languages and skill levels. Elias Robot's voice user interface
allows students to learn languages by having conversations with human-like
robots. Thus, all such initiatives, investments, and penetration of advanced
technologies, including robots, make English
learning solutions more accessible and highly adopted.
The global English language learning market is expected to
grow at a CAGR of 9.5% to reach USD 69,623.1 million by 2029, according to
Meticulous Research.
The global English language learning market on methodology
(blended learning, offline learning, online learning), learning mode
(self-learning apps and applications, tutoring (one-on-one learning, group
learning), age group (<18 years, 18–20 years, 21–30 years, 31–40 years,
>40 years), end user (individual learners, educational institutes (k-12,
higher education), government bodies, corporate learners), and geography. The
study also evaluates industry competitors and analyses the market at the
regional and country levels.
The report also includes an extensive assessment of the key
growth strategies adopted by the leading market participants between 2020 and
2022. The English language learning market is consolidated and dominated by a
few major players, namely Cambridge University Press (U.K.), New Oriental
Education & Technology Group Inc. (China), Houghton Mifflin Harcourt
Company (U.S.), McGraw-Hill Education, Inc. (U.S.), Duolingo Inc. (U.S.),
Berlitz Corporation (U.S.), Busuu Online S.L. (Spain), Babble GMBH (Germany),
Linguistica 360, Inc. (U.S.), Mondly (Romania), ELSA Corp. (U.S.), FluentU (A
part of Enux Education Limited) (China), Memrise Inc. (U.K.), Mango Languages
(U.S.), Rosetta Stone Ltd. (A part of IXL Learning, Inc.) (U.S.), Inlingua
International Ltd. (Switzerland), Sanako Corporation (Finland), Transparent
Language, Inc. (U.S.), and Open Education LLC (U.S.).
TOP 10 COMPANIES IN ENGLISH LANGUAGE
LEARNING MARKET @ https://meticulousblog.org/top-10-companies-in-english-language-learning-market/?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=14-03-2023
