The United States is expected to account for the highest market share of US$ 2 Bn by the end of 2032 with an absolute dollar growth opportunity of US$ 1.3 Bn. By 2032, the United States will account for nearly 40% of the global microlearning market.
NEWARK, DE / ACCESSWIRE / September 22, 2022 / The Global Microlearning Platforms Market revenues was held at US$ 1.8 Bn in 2021 and is anticipated to grow at a CAGR of 10.6 % from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach US$ 5.5 Bn. Market revenue through microlearning platform services is expected to grow at 10.4%, during the forecast period.
The market has been fueled by the growing adoption and availability of cloud computing, which provides the platform and infrastructure needed to address the scalability issues that plague on-premise microlearning. Microlearning is also being increasingly incorporated into existing apps and platforms, such as gamification for customer engagement and value creation.
Furthermore, millennials' growing demand for high flexibility has resulted in half of the workforce being made up of freelancers who, rather than working long hours, change jobs frequently and combine different projects at different organizations. Microlearning solution providers are increasingly focusing on these freelancers.
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Businesses can use microlearning to provide effective training and education to a variety of stakeholders, including employees, workers, and channel partners. Corporate training programs are changing their learning methodologies. Online learning methods that provide learners with greater flexibility are gradually displacing traditional classroom training.
Businesses are focusing on providing a better learning experience for employees by implementing a variety of more interesting and engaging learning and development activities. As a result, companies are eager to adopt training methods that are directly oriented toward a learning objective, such as specific skills or understanding compliance.
Competitive Landscape
In a fast-growing education sector, the market is fragmented, with many local and regional players competing with one another. Players in the microlearning market are working to deliver their content in an interactive format that will pique learners' interest in these training platforms.
Microlearning platform providers are also focusing on innovation and strategic partnerships with other vendors to expand their service offerings and meet the demands of an expanding customer base. Some of the leading players include Epignosis, Cornerstone OnDemand, Axonify Inc., iSpring Solutions Inc., and Bigtincan.
Some of the recent developments of Microlearning Platforms Market are as follows:
- In January 2021, Bigtincan announced that it will create training and development programs for small businesses with the goal of helping them grow. Training and development help to avoid breakdowns and prepares employees for the future.
- In December 2021, Larsen and Toubro Ltd. partnered with Kemroc Ink to distribute the latter's products in India. The company and the Tamil Nadu government signed an agreement in November 2021 to build a data center in Kanchipuram.
- In December 2021, Cornerstone OnDemand Inc partnered with WaitWhat, which brings masters of scale podcasts and courses to cornerstone customers.
- In January 2020, Cornerstone OnDemand, Inc. announced the acquisition of Cluster, a French technology firm that developed an AI-powered skills engine and extensive skills ontology that is used by key global brands such as Carrefour and SNCF.
Similarly, recent developments related to companies in Microlearning Platforms services have been tracked by the team at Future Market Insights, which are available in the full report.
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Global Microlearning Platforms Market, presenting historical market data (2015 -2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Global Microlearning Platforms Market by Deployment Type (Cloud & On Premises), By Component (Solution & Services), By Industry (Manufacturing and Logistics, BFSI, Retail, Healthcare and Life Sciences & Others) & across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Componentharacteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Componentoverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. ComponentOVID-19 Componentrisis and Impact on Microlearning Platforms Demand
3.1.2. ComponentOVID-19 Impact Benchmark with Previous Componentrisis
3.1.3. Impact on Market Value (US$ Mn)
3.1.4. Assessment by Key Componentountries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Industry Development Trends
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