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English is a common language used worldwide for communication. While standard Chinese and Spanish have the honor of being the languages with the most native speakers globally, English is the most used official language and the most widely spoken second language. Estimates indicate about 1.5 billion or about 20% of the global population speaks English, and about 360 million people speak English as their first language. English is also the official language of 53 countries.
In addition to the large population speaking English, it has also become the most widely used language for trade and commerce. As a result, having excellent English knowledge has become vital for success in any employee’s career. English proficiency has also become important in the highly competitive corporate world. Many reputed organizations worldwide rely on English to communicate everything from emails to corporate documentation to even popular and well-read business resources both in print and electronic media.
Fluency in English, both written and spoken, plays a critical role 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 enter into a global workforce. Research from all over the world shows that cross-border business communication is most often conducted in English, and many international companies expect employees to be fluent in English. For instance,
- Airbus, Daimler-Chrysler, Fast Retailing, Nokia, Renault, Samsung, SAP, Technicolor, and Microsoft in Beijing have mandated English as their official corporate language. Further, it is estimated that over 50% of the internet pages are written in English, which means that more online information is available to people who can read English.
- In a France-based food services company Sodexo, English is being adopted as an official language. The company announced in January 2017 that its senior leadership team would be adopting English as an official language as it is tedious to translate emails, webinars, and other materials into as many as eight languages, including French, English, and Spanish.
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 the shipping and airline industries. It has resulted in the knowledge of English being a near-mandatory requirement for critical jobs such as airline pilots and naval officers, etc. Apart from having an impressive command of spoken English, today’s competitive corporate culture demands an equally impressive command of written English as well. It is mainly because almost all forms of business communication such as emails, presentations, sales and marketing, and even corporate legal documentation are now carried out in English.
Such rising importance of the English language increases the number of startups through investments for accelerating the English language learning platforms. For instance,
- In 2020, MyBuddy.ai, a U.S.-based ed-tech startup, received an investment of $1 million by 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 $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 downsize 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 $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.
There is rising penetration of advanced technology in English language learning to cope with the recent competitive business world, helping learners to adopt and sustain in this presentable world. New technologies, such as the IoT, cloud computing, mobile internet, and wearable gadgets, have resulted in the proliferation of English online language learning products and applications. Recent developments, such as social networking platforms and voice recognition & computer video cameras, have further expanded technology's potential to enhance language learning. Due to these technologies' coherent benefits, the modernization of English has been the major focus of many companies, which has paved the way for online language learning platforms. Following this, neural network capabilities were utilized together with AI language education platforms to revolutionize education for students and teachers and the enterprise sector. AI algorithms have the potential to advance E-learning in every field. In language learning, AI personalizes teachings and lessons to each learner, reducing the time, cost, and frustration involved in completing online or app-based courses. The integration of AI helps in developing customized English language learning solutions and tracking learner’s progress. Also, it helps in integrating data from different sources and producing customization for learners.
Thus, such initiatives, investments, and penetration of advanced technologies make the English learning solutions more accessible and highly adopted. The global English language learning market is expected to grow at a CAGR of 4.9% to reach $49.93 billion by 2027, according to Meticulous Research.
Acess Sample Report Here: https://www.meticulousresearch.com/product/english-language-learning-market-5127/
English is a common language used worldwide for communication. While standard Chinese and Spanish have the honor of being the languages with the most native speakers globally, English is the most used
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