According to a research report “Microlearning Market size is expected to grow from USD 1.5 billion in 2019 to USD 2.7 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 13.2% during the forecast period” published by MarketsandMarkets. The increasing need for efficient training of deskless and mobile workers across industries is expected to drive the growth of microlearning market across the globe. Furthermore, microlearning solution empowers organizations to offer skills-based and result-oriented training to their stakeholders including employees, workers, and channel partners. These benefits are driving the adoption of microlearning solutions across industries globally.
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By vertical, the manufacturing vertical to be
a significant contributor in the microlearning market during the forecast
period
Microlearning in the
manufacturing and logistics industry focuses on increasing efficiency,
maintaining/improving quality, and complying with safety policies. Skilled
technicians can greatly improve the efficiency of the manufacturing and
logistics operations, and the quality of the final product. By leveraging
microlearning, employees can learn content by staying on their working
premises, thus increasing the overall business productivity. A short burst of
training lessons is used by technicians, factory workers, drivers, and other
staff members to get quickly aligned with machines, processes, and compliances.
On-premise type to hold the highest market
share during the forecast period
The on-premises microlearning solution
is deployed on the server of the client organization; however, the user or
buyer needs to acquire a license to use the microlearning solution, which is
also customizable. The setup and maintenance are taken care of by the internal
IT staff of the buyer, who has full control over the microlearning solution.
The on-premises microlearning solution enables enterprises to create, store,
and deliver business-critical data and control access to training programs. The
percentage share of on-premises microlearning solution is decreasing, as these
applications demand high-initial investments and long-term developer
commitment. The on-premises microlearning solution is used by enterprises in
which the continuous availability of a learning system is significant for the
business process outcome. With the deployment of an on-premises microlearning
solution, enterprises get greater control over the investments made for setting
up the infrastructure, as it decreases the overall network cost.
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North
America to hold the highest market share during the forecast period
The
increase in use of eLearning tools, growth in adoption of handheld devices,
such as tablets and mobile phones, and technological advancements in learning
methodologies have boosted the growth of the microlearning market in North
America. In this region, enterprises have become more dependent on handheld
devices for better results and convenience of use. With the help of mobile
devices, multiple employees, even if they are geographically dispersed, can
simultaneously be trained. This capability has drastically helped the corporate
sector cut down expenses for the training of employees, and is one of the major
factors encouraging corporates to adopt microlearning over the traditional
training methods.
The
major vendors in the microlearning market are 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).
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