Dublin, Nov. 06, 2019 (GLOBE NEWSWIRE) -- The "Microlearning Market by Component (Solution and Services), Organization Size, Deployment Type, Industry (Retail, Manufacturing and Logistics, BFSI, Telecom and IT, Healthcare and Life Sciences), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global microlearning market is expected to grow from $1.5 billion in 2019 to $2.7 billion by 2024, at a CAGR of 13.2%.
This report includes an in-depth competitive analysis of the key players in the microlearning market along with their company profiles, recent developments, and key market strategies. The report segments the microlearning market by component (solution and services), organization size (large enterprises, and small and medium-sized enterprises), deployment type (on-premises and cloud), industry, and region.
The microlearning market includes various major vendors, such as Saba Software (US), Mindtree (India), Axonify (Canada), IBM (US), Bigtincan (US), SwissVBS (Canada), iSpring Solutions (US), Epignosis (US), Cornerstone OnDemand (US), Qstream (US), Pryor Learning Solutions (US), count5 (US), mLevel (US), Gnowbe (US), Trivantis (US), SweetRush (US), Multiversity (India), and Neovation Learning Solutions (Canada).
The microlearning market is expected to grow at a CAGR of 13.2% during the forecast period, owing to the growing need to enhance productivity and performance of learners through effective training and development solution
The increasing demand for training of deskless and mobile workers across industries and a growing need for skills-based and result-oriented training among enterprises are the major factors driving the growth of the microlearning market.
Microlearning solution segment expected to hold a higher market share during the forecast period
Microlearning empowers organizations with a centralized solution to offer effective training and education to various stakeholders including employees, workers, and channel partners. Corporate training programs are witnessing transformation in learning methodologies. Traditional methods of classroom training are steadily overtaken by online methods of learning that offer flexibility to learners.
Enterprises are focusing on offering an enhanced learning experience to employees through various learning and development activities, which are more interesting and engaging. Hence, businesses are keen on adopting training methods that are directly inclined toward a learning objective, which focuses on particular skills or understanding of compliance. The microlearning solution providers are competing with each other to increase their market coverage and expand their presence in newer markets. Companies such as Qstream, Axonify, and Saba Software provide microlearning solutions to clients to help them reap the benefits of short duration learning.
Cloud-based deployment expected to have significant growth during the forecast period
A growing demand for scalable and cost-effective solutions is expected to boost the adoption of cloud-based microlearning across industries. In cloud-based microlearning, solutions are hosted over the internet connection, and users can log into the service provider's site. Trainers can upload course content, create new courses, and interact with learners via their internet browsers without the need for the installation of the required management software.
Moreover, instructional designers can store any information on the cloud, and this can be remotely accessed by approved users from any location. This deployment type is preferred for its features, such as better and enhanced security, lower setup costs, easy accessibility, quicker deployment, highly scalable, customizable, enhanced storage space, ease of maintenance, automatic upgrade of course materials, and automatic licensing done by vendors. In this type, learning is delivered to the learner, anywhere and anytime via the browser.
North America expected to have the largest market size during the forecast period
North America is the most mature market in terms of microlearning adoption and is likely to account for a substantial share of the global microlearning market during the forecast period. The market growth in this region is driven primarily by the presence of large IT companies/users and rapid technological advancements, such as digitalization in the US and Canada.
The presence of key players in the microlearning market in the region is expected to be a significant factor driving the market growth in North America. Key players, such as IBM, Saba Software, and Bigtincan, along with several startups in the region, are offering enhanced microlearning solutions, to cater to the needs of customers.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Microlearning Market
4.2 Market in North America, By Industry and Country, 2019
4.3 Market Major Countries
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Training Deskless and Mobile Workers Across Industries
5.2.1.2 Growing Need for Skills-Based and Result-Oriented Training Among Enterprises
5.2.2 Restraints
5.2.2.1 Reluctance of Enterprises to Spend Huge Amount on Transforming Existing Training Content Into Microcontent
5.2.3 Opportunities
5.2.3.1 Gamification of Training and Education to Boost the Adoption of Microlearning
5.2.3.2 Growing Traction for Personalized and Adaptive Microlearning to Drive Market Growth
5.2.3.3 Increasing Usage of AR, VR, AI and ML, and Mobile Technology to Boost the Growth of Microlearning Market
5.2.4 Challenges
5.2.4.1 Lack of Impetus Among Learners
5.2.4.2 Lack of Awareness Regarding Microlearning Benefits
5.3 Use Cases
5.3.1 Bloomingdales
5.3.2 Raymour & Flanigan
5.3.3 Concussion Legacy Foundation
6 Microlearning Market By Component
6.1 Introduction
6.2 Solution
6.2.1 Increasing Demand for Short Duration Learning and Development Programs Leading to the Growth of Microlearning Solutions
6.3 Services
6.3.1 Consulting and Implementation
6.3.1.1 Growing Requirement Among Organizations to Implement Efficient and Engaging Learning Solutions to Drive the Growth of Consulting and Implementation Services
6.3.2 Support and Maintenance
6.3.2.1 Growing Need for Thorough Support and Maintenance of the Microlearning Solution to Drive the Demand for Support and Maintenance Services
7 Microlearning Market By Organization Size
7.1 Introduction
7.2 Large Enterprises
7.2.1 Large Enterprises to use Microlearning for Streamlining Training Programs
7.3 Small and Medium-Sized Enterprises
7.3.1 Need to Reduce the Cost and Time for Learning Activities to Fuel the Growth of the Microlearning Solution in Small and Medium-Sized Enterprises
8 Microlearning Market By Deployment Type
8.1 Introduction
8.2 On-Premises
8.2.1 Higher Security Leveraged Through On-Premises Solution
8.3 Cloud
8.3.1 Growing Demand for Scalable and Cost-Effective Solutions to Boost the Adoption of Cloud-Based Microlearning Solution
9 Microlearning Market By Industry
9.1 Introduction
9.2 Retail
9.2.1 Frequent Upgrades Related to Product and Promotions to Fuel the Growth of the Market in the Retail Industry
9.3 Manufacturing and Logistics
9.3.1 Transition From Traditional Methods of Learning to On-The-Go Methods of Learning to Fuel the Microlearning Market Growth
9.4 Banking, Financial Services and Insurance
9.4.1 Providing Regular Training to Employees Concerning Compliance to Boost the Market Growth in the BFSI Industry
9.5 Telecom and IT
9.5.1 Growing Need for Skills-Based and Result-Oriented Efficient Training and Development Programs to Boost the Adoption of Microlearning in the Telecom and IT Industry
9.6 Healthcare and Life Sciences
9.6.1 Growing Need to Enhance Performance of Frontline Employees to Drive the Growth of Microlearning in the Healthcare and Life Sciences Industry
9.7 Others
10 Microlearning Market, By Region
10.1 Introduction
10.2 North America
10.2.1 United States
10.2.1.1 Presence of a Large Number of Microlearning Solution Providers to Drive the Market Growth in the US
10.2.2 Canada
10.2.2.1 Growing Adoption of Short Training Modules for Employee Learning to Boost the Market in Canada
10.3 Europe
10.3.1 United Kingdom
10.3.1.1 Requirement of Continuous Training of Employees to Increase the Microlearning Market in the UK
10.3.2 Germany
10.3.2.1 Growing Need Among Large Enterprises for Short and Efficient Training to Drive Adoption of Microlearning in Germany
10.3.3 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 Growing Requirement of Flexible Training Programs to Fuel the Growth of the Market in China
10.4.2 India
10.4.2.1 Government Initiatives to Promote the Growth of the Market in India
10.4.3 Rest of Asia Pacific
10.5 Middle East and Africa
10.5.1 United Arab Emirates
10.5.1.1 Growing Need Among Enterprises for Efficient and Result Oriented Training Programs to Drive Adoption of Microlearning in UAE
10.5.2 Kingdom of Saudi Arabia
10.5.2.1 Government Initiatives to Boost Adoption of Microlearning in Ksa
10.5.3 Rest of Middle East and Africa
10.6 Latin America
10.6.1 Brazil
10.6.1.1 Government Initiatives for Digitalization of Education to Fuel the Adoption of Microlearning Solutions in Brazil
10.6.2 Mexico
10.6.2.1 Focus on Adoption of Digital Mediums for Efficient Training and Development of Employees By Enterprises to Drive the Microlearning Market in Mexico
10.6.3 Rest of Latin America
11 Competitive Landscape
11.1 Introduction
11.2 Competitive Scenario
11.2.1 New Product/Service Launches and Product Enhancements
11.2.2 Partnerships, Collaborations, and Agreements
11.2.3 Mergers and Acquisitions
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Dynamic Differentiators
11.3.3 Innovators
11.3.4 Emerging Companies
12 Company Profiles
12.1 Saba Software
12.2 Mindtree
12.3 Axonify
12.4 IBM
12.5 Bigtincan
12.6 SwissVBS
12.7 iSpring Solutions
12.8 Epignosis
12.9 Cornerstone OnDemand
12.10 Qstream
12.11 Pryor Learning Solutions
12.12 Count5
12.13 Crossknowledge
12.14 mLevel
12.15 Gnowbe
12.16 Trivantis
12.17 SweetRush
12.18 Multiversity
12.19 Neovation Learning Solutions
For more information about this report visit https://www.researchandmarkets.com/r/puhhgg
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