The microlearning market registered an 11.4% CAGR during the forecast period, to reach US$ 6.3 Billion by the end of 2032. As COVID-19 has pushed corporates to opt for remote work procedures, the need for upskilling the workforce with the latest technological innovations and equipping them with cutting-edge innovative technologies is a must. This fuels the growth of the microlearning market.
Microlearning involves various courses, including skill-based programs, result-oriented training, and enterprise-specific programs, enhancing the workforce that improves the workflow. As the competition in industries rises, companies digitize their spaces and upskill their workforce. This skilled workforce enhances productivity and makes the work more efficient and easier, helping the business expand its space in new market spaces.
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Different elements of a business such as processes, compliances, security, machines, hardware, and software are connected to technicians, IT experts, workers, drivers, and other workers. Microlearning makes these workers aware of the various components of a company and their work, unifying them to get better results.
Integrating multiple technologies like artificial intelligence, AR, VR, and gamification with ed-tech platforms is expected to expand the microlearning market in new industries while making learning easy, accessible, and systematic. Lack of awareness and impetus amongst workers, along with low capital investment by corporate players, are declining the growth of the microlearning market as COVID-19 has damaged various types of businesses.
Key Takeaways from the Microlearning Market Report:
- Manufacturing from the microlearning market’s vertical category is the biggest segment in the category and will hold the largest market space in the forecast period.
- On-premise from the microlearning market’s type category is the biggest segment in the category and will hold the prominence space in the forecast period.
- USA, Canada, Japan, China, and Europe hold a 6% CAGR that is estimated for the slurry segment of the transporting media category.
- Asia Pacific is the emerging market space in the microlearning market, attributed to the higher return on investment (ROI), talent development, and increased upskill training.
- The market size for the microlearning market in China is expected to reach US$ 1.16 Billion by 2032, growing at a CAGR of 11.8% during the research period.
- The market size of the microlearning market in the United States is expected to reach US$ 1.66 Billion by 2032.
- Canada’s microlearning market is expected to thrive at a CAGR of 10.4% over the forecast period.
- Japan’s microlearning market is expected to flourish at a CAGR of 10.8% during the research period (2022-2032).
- Germany is anticipated to grow slowly at a CAGR of 8.9% between 2022 and 2032.
Leading Key Players:
- Saba Software
- Mindtree
- Axonify
- IBM
- Bigtincan
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Microlearning Market Segmentation:
By Component:
- Solution
- Services
- Consulting and Implementation Services
- Support and Maintenance Services
By Deployment Type:
- On-premises
- Cloud
By Organization Size:
- SMEs
- Large Enterprises
By Industry:
- Retail
- Manufacturing and Logistics
- BFSI
- Telecom and IT
- Healthcare and Life Sciences
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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