Operators in the Language Learning Software Developers industry create language learning software that includes features such as speech recognition technology, online practice sessions with native speakers and language learning games.
Over the past five years, the industry has expanded greatly.
Long-term trends such as globalization, immigration and internet connectivity, caused revenue to climb.
Rising per capita disposable income has also benefited the industry by providing consumers with the income they need to purchase industry products, which may be viewed by many consumers as discretionary items.
Over the five years to 2019, industry revenue is expected to climb at an annualized rate of 11.5% to $3.1 billion, including a 7.3% increase in 2019 alone.