Microlearning market size to grow by USD 1,338.46 million from 2022 to 2027; A descriptive analysis of customer landscape, vendor assessment, and market dynamics - Technavio
NEW YORK, Jan. 12, 2023 /PRNewswire/ -- The global microlearning market size is estimated to increase by USD 1,338.46 million between 2022 and 2027. The market's growth momentum will be progressing at a CAGR of 10.57%. - Request a sample report
Vendor offerings -
Cornerstone OnDemand Inc.: The company offers micro-learning through Grovo.
ELB Learning: The company offers micro-learning through the Rockstar learning platform.
Epignosis : The company offers micro-learning through TalentCards.
Gnowbe Group Ltd.: The company offers micro-learning such as Microlearning Instructional Design (MID) Accreditation Program.
For Details on the vendor and its offerings – Buy the report!
Global microlearning market – Vendor Landscape
The global microlearning market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer microlearning in the market are Axonify Inc., Bigtincan Holdings Ltd., BTS Group AB, Cornerstone OnDemand Inc., CrossKnowledge, ELB Learning, Epignosis, Gnowbe Group Ltd., GoSkills Ltd., Inkling Systems Inc., International Business Machines Corp., iSpring Solutions Inc., Larsen and Toubro Ltd., Multiversity Pvt. Ltd., Neovation Corp., Pryor Learning, Qstream Inc., SmartUp.io Ltd., and SweetRush Inc. and others.
The global microlearning market is fragmented, with many local and regional players competing in a fast-growing education sector. Players in the microlearning market are engaged to offer their content through the interactive medium that will develop a high interest of learners in these training platforms., which will propel the growth of the market during the forecast period.
Global microlearning market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –
Key purchase criteria
Adoption rates
Adoption lifecycle
Drivers of price sensitivity
Global microlearning market - Segmentation assessment
Segment Overview
Technavio has segmented the market based on application (retail, manufacturing and logistics, BFSI, healthcare, and others), and component (solutions and services).
The market share growth of the retail segment will be higher than the other segments during the forecast period. The retail sector consists of brick-and-mortar retail shops and e-commerce sites. Training customers in the retail sector is essential for providing superior customer service and enhancing business productivity in the fragmented market. Most retail vendors try to differentiate themselves based on the customer service they provide.
Geography Overview
By geography, the global microlearning market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global microlearning market.
North America is estimated to account for 41% of the growth of the global market during the forecast period. North America is the largest geographical segment of the global microlearning market in 2022 and will continue to remain the largest segment during the forecast period. This is attributed to the rising adoption of technology by numerous organizations to provide adequate training to their employees. Thus, the growth of e-learning will provide immense opportunities to microlearning providers in North America.
Global microlearning market – Market dynamics
Leading drivers - One of the key factors driving the global microlearning market growth is the growing government initiatives. Governments globally have taken initiatives and are promoting e-learning to improve education services. For instance, the government of the US has the NASA App to educate learners about NASA missions and space, among others. Moreover, the governments of countries such as Thailand, China, and Hong Kong are offering tablets to aid in education. Governments are also increasing the funding amount of various initiatives to boost microlearning platforms. Such factors will further drive market growth during the forecast period.
Key trends - Another key factor driving the global microlearning market growth is the gamification of training and education due to an increase in the number of smartphones and mobile devices. Furthermore, gamification also helps in customer retention and increases customer retention rates by 5%, could increase profits by 25%-95%, and can fetch better results for businesses. Brands can provide scannable codes on products, and by scanning the code, the customer can avail of a certain number of loyalty points. Furthermore, organizations have shown an inclination toward collaborative systems, which do not create a competitive environment, as they are widely considered counterproductive. Thus, the market is expected to witness substantial growth during the forecast period.
Major challenges - One of the key challenges to the global microlearning market growth is data security concerns due to the proliferation of education technology. The free offerings of apps by vendors to acquire a foothold in the market have enabled educators to experiment with adaptive learning products such as e-learning apps that record and analyze the performance of students and recommend personalized lessons. This has increased security threats with respect to the information of students and other administrative data. In the corporate sector, as more businesses rely on BYOD policies, the connection of devices increases the exposure to security threats due to the lack of security system installation. Such factors will reduce the rate of adoption of mobile learning through apps, which can offset market growth during the forecast period.
What are the key data covered in this microlearning market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the Microlearning Market between 2023 and 2027
Precise estimation of the size of the Microlearning Market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the Microlearning Market industry across North America, APAC, Europe, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of Microlearning Market vendors
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Microlearning Market Scope
Report Coverage | Details |
Page number | 167 |
Base year | 2022 |
Historic period | 2017-2021 |
Forecast period | 2023-2027 |
Growth momentum & CAGR | Accelerate at a CAGR of 10.57% |
Market growth 2023-2027 | USD 1338.46 million |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 10.05 |
Regional analysis | North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution | North America at 41% |
Key countries | US, Canada, China, India, and UK |
Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled | Axonify Inc., Bigtincan Holdings Ltd., BTS Group AB, Cornerstone OnDemand Inc., CrossKnowledge, ELB Learning, Epignosis, Gnowbe Group Ltd., GoSkills Ltd., Inkling Systems Inc., International Business Machines Corp., iSpring Solutions Inc., Larsen and Toubro Ltd., Multiversity Pvt. Ltd., Neovation Corp., Pryor Learning, Qstream Inc., SmartUp.io Ltd., and SweetRush Inc. |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Table of contents
1.1 Market Overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global microlearning market 2017 - 2021
4.2 Industry Segment Analysis 2017 - 2021
4.3 Component Segment Analysis 2017 - 2021
4.4 Geography Segment Analysis 2017 - 2021
4.5 Country Segment Analysis 2017 - 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Industry Application
6.1 Market segments
6.2 Comparison by Industry Application
6.3 Retail - Market size and forecast 2022-2027
6.4 Manufacturing and logistics - Market size and forecast 2022-2027
6.5 BFSI - Market size and forecast 2022-2027
6.6 Healthcare - Market size and forecast 2022-2027
6.7 Others - Market size and forecast 2022-2027
6.8 Market opportunity by Industry Application
7 Market Segmentation by Component
7.1 Market segments
7.2 Comparison by Component
7.3 Solution - Market size and forecast 2022-2027
7.4 Services - Market size and forecast 2022-2027
7.5 Market opportunity by Component
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 North America - Market size and forecast 2022-2027
9.4 APAC - Market size and forecast 2022-2027
9.5 Europe - Market size and forecast 2022-2027
9.6 South America - Market size and forecast 2022-2027
9.7 Middle East and Africa - Market size and forecast 2022-2027
9.8 US - Market size and forecast 2022-2027
9.9 China - Market size and forecast 2022-2027
9.10 UK - Market size and forecast 2022-2027
9.11 Canada - Market size and forecast 2022-2027
9.12 India - Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 Axonify Inc.
12.4 Bigtincan Holdings Ltd.
12.5 BTS Group AB
12.6 Cornerstone OnDemand Inc.
12.7 CrossKnowledge
12.8 ELB Learning
12.9 Epignosis
12.10 Gnowbe Group Ltd.
12.11 GoSkills Ltd.
12.12 International Business Machines Corp.
12.13 iSpring Solutions Inc.
12.14 Larsen and Toubro Ltd.
12.15 Multiversity Pvt. Ltd.
12.16 Neovation Corp.
12.17 Qstream Inc.
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
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