The market size for the microlearning market in China is expected to reach US$ 1.16 Billion by 2032, growing at a CAGR of 11.8% during the research period.
The Microlearning Market registered 11.4% CAGR during the forecast period, to reach US$ 6.3 Billion by the end of 2032. As covid-19 has pushed corporates to opt for remote work procedures, the need for upskilling the workforce with the latest technological innovations and equipping them with cutting-edge innovative technologies is a must. This fuels the growth of the microlearning market.
Microlearning involves various courses, including skill-based programs, result-oriented training and enterprise-specific programs, enhancing the workforce that improves the workflow. As the competition in industries rises, companies digitize their spaces and upskill their workforce. This skilled workforce enhances productivity and makes the work more efficient and easier, helping the business expand their space in new market spaces.
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Different elements of a business such as processes, compliances, security, machines, hardware and software are connected to technicians, IT experts, workers, drivers and other workers. Microlearning aware these workers about the various components of a company and their work, unifying them in order to get better results.
Integration of multiple technologies like artificial intelligence, AR, VR and gamification with the ed-tech platforms are expected the expand the microlearning market in new industries while making the learning easy, accessible and systematic. Lack of awareness and impetus amongst workers, along with low capital investment by corporate players, are declining the growth of the microlearning market as covid-19 has damaged various types of businesses.
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COMPETITIVE LANDSCAPE:
Some of the microlearning market’s key competitors profiled in the research are Qstream Inc, AlertDriving, Aptara Inc, Axonify Inc, Bigtincan, Cornerstone, Epignosis, IBM Corporation, Mindtree.com, pryor.com, Saba Software, SwissVBS, Gnowbe, mLevel and Neovation Corporation.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 04, 2023