Global Microlearning Market Research Report published by market insight reports explores the current outlook in Global and key regions from the perspective of Major Players, Countries, Product types and end industries. This report analyzes top players in the Global market, and divides the Market into several parameters.
This Microlearning Market research report identifies the competitive landscape of industries to understand the competition at International level. This report study describes the projected growth of the Global market for approaching years from 2019 to 2025. This research report has been aggregated on the basis of static and dynamic aspects of the businesses.
The microlearning market is expected to register a CAGR of 14.2% over the forecast period (2020- 2025).
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The prominent players in the Global Microlearning Market:
Mindtree Limited, IBM Corporation, SwissVBS, Axonify Inc, Bigtincan, Saba Software, iSpring Solutions Inc., Epignosis, Qstream, Inc., Cornerstone OnDemand, Inc., and Others.
– May 2020 : Qstream, a microlearning software leader for engaging sales teams in mobile sales learning programs was recognized among the 2020 Top Training Company for the sales training sector of the learning and development market.
– January 2020 : Cornerstone OnDemand, Inc., announced that it acquired Cluster, a French technology company that developed an AI-powered skills engine and extensive skills ontology, used by leading global brands, including Carrefour and SNCF.
Key Market Trends: –
Gamification of Training and Education to Drice the Market Growth
– The expedited growth of microlearning is due to an increase in the number of smartphones and mobile devices that have directly created a vast base for gamification in the microlearning market. This growth is supported by the high recognition of gamification systems as a method to architecture human behavior to induce innovation, productivity, or engagement. ?
– An HBR article identifies that gamification also helps in customer retention and increases customer retention rates by 5%, increases profits by 25% to 95%, and can fetch better results for the businesses. Brands can provide scannable codes on the products, and on scanning the code, the customer can avail of a certain number of loyalty points.?
– Enterprise gamification in training, productivity, and skill enhancement are expected to witness substantial growth during the forecast period. Organizations have shown a heavy inclination toward collaborative systems, which do not create a competitive environment, as they are widely considered counterproductive. ?
– Gamification in microlearning solutions is also functioning as a handy tool for increasing the overall productivity of employees by using various methods, such as rewards for task completion in case of project management or data contribution or access, in case of knowledge management. However, the industry is also facing an absence of standardized guidelines for the application of gamification due to the lack of a substantial amount of academic research in the area. ?
North America is Expected to Hold Major Share
– The North America eLearning market accounts for nearly 40% of the industry share. It is increasing due to the fast-technological adoption by numerous organizations to provide adequate training to its employees. The growth of e-learning will provide immense opportunity to microlearning providers in the region.
– The organizations in the region are attracted by gamifications ability to raise engagement and loyalty, measured in time, on-site, repeat visits, and viral distribution by an average of 30%. Apart from participation, gamifications revenue effects are also impressive. American multinational software company, Autodesk, raised its trial usage by 40% and conversion rates by 15% while Extraco Bank raised its customer acquisitions by 700%.
– Another influencing factor is the increased penetration of digital devices. According to GSMA, the number of smartphone subscribers in North America is expected to reach 328 million by 2025. Moreover, by 2025, the region may witness an increase in the penetration rates of mobile subscribers (86%) and the internet (80%), the second-highest in the world. Increased device penetration will have a positive impact on the virtual reality market in the region.
– According to a report from IBM, 75% of Gen Zers prefer to use a smartphone as compared to other mobile devices. So, a mobile-focused training strategy in microlearning will grow in the future to interest them in learning. Changing economic, social, and behavioral aspects such as these leading to acceptance of technology at an exponential rate will only boost the market growth of microlearning in the region, making them sustainable solutions.
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Microlearning Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Microlearning Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
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Finally, the Microlearning market report offers a complete and detailed study of Global Microlearning market by using numerous analytical tools and models such as SWOT analysis, investment return analysis, and porter’s five forces analysis which are useful for beginners to access the upcoming opportunities. After exploring the market insights through primary and secondary research methodologies, if anything is required except than this, market insight reports will provide customization as per specific demands.
Note: – All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.