Increasing adoption of result-oriented and skill-based training among organizations is a key factor driving microlearning market revenue growth
— Emergen Research
VANCOUVER, BC, CANADA, August 16, 2022 /EINPresswire.com/ — According to the most recent analysis by Emergen Research, the worldwide microlearning market had a value of USD 1.86 billion in 2022 and is anticipated to grow at a rate of 13.1% over the projected period. One of the main factors fueling market revenue development is the growing use of result-oriented and skill-based training among enterprises.
Microlearning is a process of learning and acquiring knowledge by utilizing small chunks of relevant information to achieve a specific learning outcome. Microlearning usually implies short and targeted learning, which ranges from 3 to 5 minutes. These courses consist of engaging videos, podcasts, infographics, animations, games, and more engaging content to improve employees’ knowledge retention and engagement. In addition, increasing preference for short-duration and skill-based learning processes is expected to drive demand for microlearning solutions. Most learners face distraction, low attention, and concentration level while learning long- duration courses, and hence they are preferring microlearning as it encompasses short, engaging, focused, and interactive learning content.
The researcher also discusses the recent trends and developments including joint ventures, collaborations, investments, product launches and acquisitions and mergers constitute a substantial part of the research on the Microlearning market for the forecast period from 2022 to 2030. The report will empower companies to understand the opportunities, adapt to their consumer demands, needs, and concentrate on their best end-users.
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Some Key Highlights in the Report
The healthcare segment revenue is expected to increase at a steady rate over the forecast period due to rising adoption of microlearning solutions among health care professionals. Healthcare professionals need to constantly upgrade and up-skill their knowledge and skills with changing procedures and evolving technology to comply with any latest regulatory framework in medical field. Increasing need to update healthcare professionals about latest medical devices and pharmaceutical products is resulting in increasing demand for microlearning solutions. This can help healthcare professionals to easily retain information, improve their performance, and ensure quick and cost-effective method of learning.
The Small and Medium Sized Enterprises (SMEs) segment is expected to register a steady revenue growth rate over the forecast period. SMEs face resource shortage and hence they fail to provide skills-based and result-oriented training to employees. By utilizing microlearning solutions, they can develop short, interactive, and engaging learning content in a cost-effective manner.
The North America accounted for largest revenue share in the global microlearning market in 2022 due to growing demand for e-learning platform among large organizations and SMEs in countries across the region, especially in the U.S and Canada. In addition, major market players such as Cornerstone OnDemand Inc., Axonify Inc., IBM Corporation, among others, are introducing advanced learning methodology and developing advanced microlearning solutions by integrating AI, ML, and Virtual Reality (VR) with microlearning solution, which is expected to drive market revenue growth in the region.
The reports cover key developments in the Microlearning market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships and collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Microlearning market are anticipated to lucrative growth opportunities in the future with the rising demand for Microlearning in the global market. The market is expected to grow at a significant CAGR during the forecast period.
The major players covered in this report
IBM Corporation, SwissVBS, Saba Software, Inc., iSpring Solutions, Cornerstone OnDemand, Inc., Qstream, Inc., eduMe Ltd., Neovation Learning Solutions, Gnowbe Pte. Ltd., and 7taps Inc.
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Emergen Research has segmented the global microlearning market based on deployment, organization size, component, end-use, and region:
Deployment Outlook (Revenue, USD Billion; 2019-2030)
Organization Size Outlook (Revenue, USD Billion; 2019-2030)
Small and Medium-Sized Enterprises (SMEs)
Component Outlook (Revenue, USD Billion; 2019-2030)
End-Use Outlook (Revenue, USD Billion; 2019-2030)
Telecom and IT
Healthcare and Life Sciences
Microlearning Market segment by Region/Country including:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Spain etc.)
Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
South America Brazil, Argentina, Colombia and Chile etc.)
Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Browse the comprehensive TOC and data tables @ https://www.emergenresearch.com/industry-report/microlearning-market
What Questions Should You Ask before Buying a Market Research Report?
• How is the Microlearning market evolving?
• What is driving and restraining the Microlearning market?
• How will each Microlearning submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?
• How will the market shares for each Microlearning submarket develop from 2022 to 2030?
• What will be the main driver for the overall market from 2022 to 2030?
• Will leading Microlearning markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
• How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?
• Who are the leading players and what are their prospects over the forecast period?
• What are the Microlearning projects for these leading companies?
• How will the industry evolve during the period between 2022 and 2030? What are the implications of Microlearning projects taking place now and over the next 10 years?
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The global microlearning market size was USD 1.86 Billion in 2021