According to a recently published Future Market Insights report, the Global Microlearning Platforms Market revenues were held at US$ 1.8 Bn in 2021 and are expected to grow at a CAGR of 10.6% from 2022-2032. The market is expected to reach US$ 5.5 billion by the end of 2032. During the forecast period, market revenue from microlearning platform services is expected to grow at a rate of 10.4%.
The growing adoption and availability of cloud computing, which provides the platform and infrastructure required to address the scalability issues that plague on-premise microlearning, has fueled the market. Microlearning is also increasingly being integrated into existing apps and platforms for customer engagement and value creation, such as gamification.
Furthermore, the growing demand for high flexibility among millennials has resulted in half of the workforce being made up of freelancers who, rather than working long hours, switch jobs frequently and combine different projects at different organisations. Providers of microlearning solutions are increasingly focusing on these freelancers.
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Microlearning can help businesses provide effective training and education to a wide range of stakeholders, including employees, workers, and channel partners. Learning methodologies in corporate training programmes are evolving. Online learning methods that offer greater flexibility to learners are gradually displacing traditional classroom training.
Businesses are focusing on improving employee learning experiences by implementing more interesting and engaging learning and development activities. As a result, businesses are eager to implement training methods that are directly oriented toward a learning objective, such as specific skills or comprehension compliance.
“Gamification of training & education are expected to provide significant opportunities for microlearning platforms market growth” comments a Future Market Insights analyst
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.
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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.
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).
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Market Segments Covered in Microlearning Platforms Market Analysis
By Deployment Mode:
- On Premises
- Cloud-based
By Components:
- Solution
- Services
By Industry:
- Manufacturing and Logistics
- BFSI
- Retail
- Healthcare and Life Sciences
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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