ID: MRFR/ICT/7216-HCR | February 2021 | Region: Global | 111 pages
Global Micro-Learning Market size was valued at USD 1.09 Billion in 2019 and is expected to register a CAGR of 14.6% during the forecast period.
Micro-learning is not only gaining popularity in the eLearning world, but it is also getting recognized as a valuable tool in traditional educational settings. In learning and development sessions of enterprises, the main aim of the training initiative is to improve human performance. Various enterprises are creating microlearning courses or including microlearning elements, which allows them to identify the behavioral aspects individual employees need to focus on to improve their performance. Microlearning assists to change behavior and creating a self-contained learning nugget, lengthening the delivery timelines, and helping enterprises to create more targeted and focused training modules. The demand for training desk less and mobile workers across verticals is increasing which is a major factor responsible for market growth. Along with this, the growing need for skill-based and result-oriented training among enterprises is another key factor that is driving the global micro-learning market. However, the reluctance of enterprises to spend a huge amount on transforming existing training content into microcontent is expected to restrain the growth of the market. The main opportunity for the micro-learning solution providers is the gamification of training and education. The increasing usage of advanced technologies such as AR, VR, AI, ML, and mobile technology is another sector to be tapped into.
The Global Micro-Learning Market has been segmented based on Component, Deployment, Organization Size, Vertical, and Region/Country.
By Component, the global micro-learning market has been divided into solutions and services. The services segment has been further broken down into two segments: consulting and implementation and support and maintenance.
By Deployment, the Global Micro-Learning Market has been divided into cloud and on-premise.
Based on organization size, the global micro-learning market has been divided into small- and medium-sized enterprises (SME) and large enterprises.
On the basis of vertical, the global micro-learning market has been divided into retail, manufacturing and logistics, banking, financial services, and insurance, telecom and IT, healthcare and life sciences, and others.
The Global Micro-Learning Market has been analyzed for five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
The Global Micro-Learning Market is estimated to register a CAGR of 14.6% over the forecast period. The geographic analysis of the global micro-learning market has been done for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America has the largest market share due to the ever-increasing use of eLearning tools, as well as the growth in the adoption of handheld devices. These devices include tablets and mobile phones. The US leads the market in North America due to the higher number of technological advancements in learning methodologies as compared to Canada and Mexico.
Europe is expected to be the second-largest market during the review period as the enterprises across verticals are making use of handheld devices on a large scale due to convenience of use. It is possible to train employees who are located at different locations simultaneously with the help of mobile devices by which the enterprises can save the expenses for training employees. Due to these advantages, the companies are increasingly adopting microlearning over the traditional training methods in the region. Asia-Pacific is expected to be the fastest-growing segment in the global micro-learning market during the forecast period. The market in countries such as China and Japan are expected to increase at a fast pace in the coming years. The growing need for skill-based and result-oriented training among enterprises is the key driver for the growth of the market in Asia-Pacific.
Source: MRFR Analysis
The Global Micro-Learning Market is registering high growth due to the rise in demand from various verticals such as retail, manufacturing and logistics, banking, financial services, and insurance, telecom and IT, healthcare and life sciences, and others. Major players have opted for partnerships and new product development as their key organic growth strategies to enhance their position in the market and cater to the demands of end-users across verticals. For instance, in January 2019, SAP SE partnered with Gnowbe, one of the leading players in the micro-learning market. Mobile microlearning and engagement solutions offered by Gnowbe are being used to build innovative solutions for SAP customers. In May 2018, Gnowbe launched the experiential mobile micro-learning library of more than 60 Micro-Learning Courses (MLCs) in collaboration with Temasek Polytechnic (TP) which is aimed at meeting the learning and up-skilling demands of busy professionals.
The Key Players in the Global Micro-Learning Market are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These include IBM Corporation (US), Bigtincan (US), SwissVBS (Canada), Pryor Learning Solutions (US), Count5 (US), Crossknowledge (US), mLevel (US), Gnowbe (Singapore), Saba Software (US), Mindtree (US), Axonify (Canada), iSpring Solutions (US), Epignosis (US), Cornerstone OnDemand (US) and Qstream (US). The key strategies adopted by most of the players are partnerships, agreements, and collaborations.
The other players in the market are EdApp (Australia), Gameffective (US), Grovo (US), Trivantis (US), SweetRush (US), Multiversity (India), Neovation Learning Solutions (Canada) among others.
Frequently Asked Questions (FAQ) :
Who are the key players investing largely in the market share?
The market will be catching a CAGR of 14.6% during the forecast period.
The demand for training desk less and mobile workers across verticals is increasing that is the factor responsible for market growth.
The hesitancy of enterprises to spend a huge amount on transforming existing training content into micro content is doubted to restrain the growth of the market.
Europe, Asia-Pacific, North America, and South America, the Middle East & Africa, are the main regions serving the best of market shares.