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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Market Segmentation
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.
Regional Outlook
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.
Competitive Dashboard
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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