Global Micro-learning Market Synopsis
According to MRFR, the Global Micro-learning Market size was valued at USD 1.09 Billion in 2019 and is poised to record a CAGR of 14.6% during the review period.
There is increasing demand for less training desk and mobile workers across verticals which is a major factor responsible for market growth. Apart from that, another main factor driving the global micro-learning market is the increasing need for skill-based and result-oriented training among companies. Nonetheless, corporations’ reluctance to invest an immense amount on turning existing training content into microcontent is expected to curb market growth. The biggest incentive for the providers of micro-learning solutions is to gamify training and education. The use of advanced technologies such as AR , VR, AI, ML and mobile technology is growing, which is another sector for key players to tap into.
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The Global Micro-Learning Market has been segmented based on Vertical, Deployment, Component, Organization Size, and Region.
The global demand for micro-learning has been divided by Component into products and services. The division of resources was further broken down into two segments: consultation and implementing, and support and maintenance.
The Global Micro-Learning Market was broken down into cloud and on-premise by implementation. Over the forecast period, the on-site microlearning solution had a greater market share as these solutions allow companies to develop, store and deliver business-critical data on the server of the company and track access to training programs.
The global micro-learning market was divided into small and medium-sized enterprises ( SMEs) and large companies, depending on the size of the organizations. During the forecast period the broad enterprise segment is projected to hold the largest market share. The SME group, however, is also expected to hold a larger market over a number of verticals as opposed to its previous share.
The global micro-learning market was divided up vertically into retail, manufacturing and logistics, finance, financial services and insurance, telecommunications and IT, healthcare and life sciences, and others.
The geographic overivew of the global micro-learning market has been done for the Middle East & Africa, North America, Europe, Asia-Pacific, and South America.
Thanks to the ever-increasing use of eLearning devices, North America has the highest market share as well as the rise of handheld computer adoption. Such tools include cell phones and tablets. Owing to the greater number of technical advancements in learning methodologies compared to Canada and Mexico, the US dominates the market in North America.
In the study era, Europe is projected to be the second-largest market, as businesses use handheld devices on a wide scale across verticals due to ease of usage. Workers located at different locations can be trained concurrently with the help of mobile devices by which the enterprises can save the expenditures for training employees. Because of these benefits, the firms are increasingly adopting microlearning over the region’s traditional methods of training. In the forecast period Asia-Pacific is projected to be the fastest-growing segment on the global micro-learning market. The demand is expected to expand at a rapid pace in countries such as China and Japan in the coming years. The the need for skill-based and result-oriented training between companies is a key driver of market growth in Asia-Pacific.
The Key Players are Bigtincan (US), Count5 (US), SwissVBS (Canada), Pryor Learning Solutions (US), Gnowbe (Singapore), Crossknowledge (US), mLevel (US), Saba Software (US), Axonify (Canada), iSpring Solutions (US), Mindtree (US), Epignosis (US), IBM Corporation (US), Cornerstone OnDemand (US) and Qstream (US). The major strategies implemented by most of the players are agreements, partnerships, and collaborations.
The other players in the market are Multiversity (India), Gameffective (US), EdApp (Australia), Grovo (US), SweetRush (US), Trivantis (US), Neovation Learning Solutions (Canada) among others.
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