The global micro-learning market 2020 was worth USD 1.09 Billion in 2019, reveals Market Research Future (MRFR). After careful analysis, MRFR concludes that the market can achieve a growth rate of 14.6% during the forecast period (2018 to 2025).
Some of the significant growth influencers in the global market for Micro-Learning are SwissVBS (Canada), iSpring Solutions (US), mLevel (US), Crossknowledge (US), Qstream (US), IBM Corporation (US), Bigtincan (US), Saba Software (US), Mindtree (US), Count5 (US), Pryor Learning Solutions (US), Cornerstone OnDemand (US), Epignosis (US), Gnowbe (Singapore), Axonify (Canada), and others.
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Top Drivers and Primary Barriers
Corporate training programs have undergone a massive change with respect to learning methodologies. The conventional form of classroom training is now being replaced by online learning, allowing flexibility to the learners. Organizations around the world are now more focused on offering an enhanced learning experience to their employees via innovative learning as well as development activities that are highly interactive and much more interesting. Keeping in mind the skill and understanding of the learner, more and more companies are adopting online training methods that can fulfill the learning objective.
Some of the prime growth boosters in the market are the mounting demand for deskless training coupled with the increasingly mobile workforce across different industries. Also, the soaring demand for skill-based as well as result-oriented training can lead the market to a better position in the following years.
A lucrative opportunity for the micro-learning solution vendors can be in the form of gamification of training and education. The rising use of advanced technologies like VR, AR, ML, AI, as well as mobile technology is another aspect that can be tapped into by the renowned players in the market.
The global market for micro-learning has been segmented with regard to Component, Deployment, Organization Size, and Vertical.
Component-wise, the micro-learning market has been considered for solutions and services. The services segment has been split into consulting and implementation, as well as support and maintenance.
Deployment-based market segments are cloud and on-premise.
The organization sizes studied in the report are small-and-medium-sized enterprises (SME) along with large enterprises.
The verticals covered in the MRFR report are healthcare and life sciences, manufacturing and logistics, retail, BFSI, telecom and IT, and others. In the healthcare and life sciences industry, microlearning is widely deployed in laboratories, research labs and hospitals to facilitate learning on the go. The manufacturing and logistics industry makes a strong demand for microlearning since it is used to elevate the efficiency of workers, in addition to maintaining and enhancing the quality along with ensuring the compliance of safety policies.
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The market for micro-learning seems to be progressing at a striking rate and can achieve great success during the forecast period. MRFR experts anticipate that the micro-learning market can note significant growth in the primary regions of Europe, North America, Asia Pacific (APAC), the Middle East & Africa (MEA), as well as South America.
North America spearheads the global market for microlearning, backed by the increasing use of eLearning tools, paired with the high adoption rate of handheld devices. Some of the popular handheld devices in the region are tablets and mobile phones. The United States (US) is the leading market in the region, thanks to a large number of technological innovations in learning methodologies compared to other countries like Mexico and Canada. A number of organizations in the region are striving to elevate their return on investment in employee training as well as skill development, with the aim to improve their productivity in the long run.
Europe has claimed the second spot in the global market for microlearning, on account of the enterprises increasingly making use of handheld devices, given the convenience of use. The presence of a large number of well-known players, coupled with numerous startups that offer advanced microlearning solutions, also propel the market growth in the region.
APAC can race ahead at the fastest rate in the years to follow, led by emerging countries like Japan and China. The rising need for skill-based, as well as result-oriented training among enterprises, is believed to be one of the chief factors promoting market growth in APAC. Apart from this, the growing use of eLearning tools, surging adoption of handheld devices, like tablets and mobile phones, and the surge in technological development in learning methodologies seem to be helping the market progress at a striking pace in the region.
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