The global 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. 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.
The major microlearning vendors include 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). These players have adopted various growth strategies, such as new product launches, business expansions, partnerships, agreements, and collaborations and acquisitions, to further expand their presence in the global microlearning market. These strategies have helped them innovate their offerings and broaden their customer base.
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IBM (US) is one of the leading players in the microlearning market across the globe. The company offers a comprehensive microlearning solution to enterprises operating in various industries, including automotive, banking, chemical and petroleum, communications, consumer products, education, electronics, energy and utilities, financial markets, government, healthcare, insurance, life sciences, media and entertainment, metals and mining, retail, and travel and transportation. As a part of its growth strategy, in April 2018, IBM introduced IBM Micro Learning, which is designed to help Information Technology (IT) professionals and developers gain experience on a specific topic, quickly. IBM’s Micro Learning is an educational offering that provides quick labs for cloud professionals, developers, and managers.
Saba Software (US) is another prominent player that offers microlearning solutions and services. The company is globally recognized for its comprehensive portfolio of solutions that include learning, performance, engagement, recruiting, and workforce planning. The company continually strives to offer innovative microlearning solutions and emphasizes on expanding its partner network to strengthen its foothold in the global microlearning market. In November 2018, Saba Software acquired Lumesse that provides talent acquisition, talent management, and learning experience technology in Europe, which will help strengthen its foothold in the European market.
Microlearning Market by Component (Solution and Services), Organization Size, Deployment Type, Industry (Retail, Manufacturing and Logistics, BFSI, Telecom and IT, Healthcare and Life Sciences), and Region - Global Forecast to 2024
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