The global microlearning platforms market is estimated to be valued at USD 2,412.6 million in 2023. With a CAGR of 10.7% projected growth during 2023 to 2033, the market is expected to reach a valuation of USD 6,687.6 million by 2033. The services segment is expected to be the highest revenue generating category in category insights, projected to register a CAGR of 10.4% during 2023 to 2033.
| Attributes | Details |
|---|---|
| Global Microlearning Platforms Market Size (2023) | USD 2,412.6 million |
| Global Microlearning Platforms Market Size (2033) | USD 6,687.6 million |
| Global Microlearning Platforms Market CAGR (2023 to 2033) | 10.7% |
| United States Microlearning Platforms Market Size (2033) | USD 2 billion |
| United States Microlearning Platforms Market CAGR (2023 to 2033) | 10.4% |
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As per the Microlearning Platforms Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2018 to 2023, market value of the microlearning platforms increased at around 8.6% CAGR. With an absolute dollar opportunity of USD 3.5 billion during 2023 to 2033, the market is projected to reach a valuation of USD 5.5 billion by 2033, at a CAGR of 10.6%.
The market is being driven by the increasing adoption and availability of the cloud, which provides the platform and infrastructure to address the scalability limitations of on-premise microlearning experiences. Microlearning is also becoming more widely used in gamification for customer engagement and value creation. Furthermore, millennials' increasing demand for high flexibility and a variety of jobs has resulted in half of the workforce being made up of freelancers who change jobs frequently and combine different projects at different organizations rather than working long hours. As a result, microlearning solution providers are increasingly targeting these freelancers.
Microlearning platforms are used as corporate learning solutions by HR and learning and development departments. These training solutions provide employees with short bursts of targeted instructional information that fit into a daily workflow and are accessible on any device. Companies can either create their own learning materials or use a pre-existing library of video, animation, and text-based learning materials. Corporate learning management systems (LMS) and learning experience platform (LEP) software are not the same as microlearning platforms. LEPs and micro-learning platforms assist organizations with a variety of challenges, as well as their target audiences. LEPs frequently provide employee-driven, computer- or desk-based instructional content.
Microlearning provides businesses with a centralized solution for providing effective training and education to the stakeholders including employees, workers, and channel partners. The learning methodologies used in corporate training programs are changing.
Traditional classroom training is gradually being surpassed by online learning methods that provide learners with greater flexibility. Businesses are focusing on providing employees with a better learning experience through a variety of engaging learning and development activities. As a result, businesses are eager to adopt training methods that are directly oriented toward a learning objective, such as specific skills or compliance understanding.
In 2022, North America was the largest regional segment of the microlearning market. The significant increase in the adoption of technology by numerous organizations to provide adequate training to their employees is largely responsible for the region's growth. In North America, the United States and Canada are the most important markets for microlearning. The market in the region will grow at a faster rate than the market in Europe.
In North America, the demand for education technologies started with schools and colleges converting traditional classrooms to digital classrooms by investing in basic hardware and software solutions. Advances in information technology have transformed communication and educational practices. Technology is transforming K-12 and higher education by offering teachers the ability to reject distracting educational technologies. Schools use personalized learning and job-embedded professional learning to meet the demands of teaching schedules and to support teachers' learning styles.
The number of smartphone subscribers in North America is expected to reach 328 Million by 2025, according to the GSMA. Furthermore, by 2025, the region's mobile subscribers with 86% and internet penetration rates of 80% may rise to the second highest in the world. The virtual reality market in the region will benefit from increased device penetration. According to an IBM study, 75% of Gen-Zers prefer to use a smartphone over other mobile devices. As a result, a mobile-focused microlearning training strategy will become more popular in the future to keep them interested in learning.
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The United States is expected to account for the highest market share of USD 2 billion by the end of 2033 with an absolute dollar growth opportunity of USD 1.3 billion. By 2033, the United States is likely to account for nearly 40% of the global microlearning market. It is rising as a result of many organizations’ rapid technological adoption and failure to provide adequate training to their employees. Microlearning providers in the country will benefit largely from the growth of e-learning.
Gamification's ability to increase engagement and loyalty by an average of 30% in time, on-site, repeat visits, and viral distribution attracted organizations in the United States. Apart from participation, the revenue effects of gamification are also impressive. Autodesk, an American multinational software company, increased trial usage by 40% and conversion rates by 15%, while Extraco Bank increased customer acquisitions by 700%.
IT & telecom industries dominated the other sub-segments with a CAGR of 10.2% during the forecast period 2023 to 2033. Microlearning's rapid growth is due to an increase in the number of smartphones and mobile devices, which has created a large base for gamification in the microlearning market.
The high recognition of gamification systems as a method to architect human behavior to induce innovation, productivity, or engagement is fueling growth. According to an article published in Harvard Business Review, gamification improves customer retention by 5%, increases profits by 25% to 95%, and can help businesses achieve better results. Scanning codes on products can be provided by brands, and customers can receive a certain number of loyalty points by scanning the code.
During the forecast period, enterprise gamification in training, productivity, and skill enhancement is expected to grow significantly. Collaboration systems, which do not create a competitive environment and are widely considered counterproductive, have shown a strong preference among organizations. Gamification in microlearning solutions also serves as a useful tool for increasing employee overall productivity through a variety of methods, such as rewards for task completion in project management or data contribution or access in knowledge management.
The client organization's server hosts the on-premises microlearning solution, however, the user or buyer must purchase a license to use the microlearning solution, which is also customizable. The buyer's internal IT staff handles the setup and maintenance, and the buyer has complete control over the microlearning solution.
Enterprises can use the on-premises microlearning solution to create, store, and deliver business-critical data while also controlling access to training programs. On-premises microlearning solutions are losing market share as these applications require large upfront investments and long-term developer commitment. Enterprises that rely on the continuous availability of a learning system for the success of their business processes use on-premises microlearning solution.
By deploying an on-premises microlearning solution, businesses gain more control over the infrastructure investments they make, as well as lower overall network costs.
However, cloud-based microlearning is expected to gain traction across industries as the demand for scalable and cost-effective solutions grows. Users log into the service provider's site to access cloud-based microlearning solutions, which are hosted over an internet connection. Trainers can use their web browsers to upload course content, create new courses, and interact with students without having to install any management software.
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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.
Some of the recent developments of microlearning platforms market are as follows :
The market is valued at USD 2.4 billion in 2023.
Epignosis, Cornerstone OnDemand, Axonify Inc.,are key market players.
The market is forecast to register a CAGR of 10.7% through 2033.
From 2018 to 2022, the market registered a CAGR of 8.6%.
The United States to hold a market share of 40% in 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment Mode 5.1. On Premises 5.2. Cloud-based 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Components 6.1. Solution 6.2. Services 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Industry 7.1. Manufacturing and Logistics 7.2. BFSI 7.3. Retail 7.4. Healthcare and Life Sciences 7.5. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Epignosis 18.2. Cornerstone OnDemand 18.3. Axonify Inc. 18.4. iSpring Solutions Inc. 18.5. Bigtincan 18.6. IBM Corporation 18.7. Mindtree 18.8. Qstream Inc. 18.9. Saba Software 18.10. SwissVBS 19. Assumptions & Acronyms Used 20. Research Methodology
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Microlearning Platforms Market
