Microlearning Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The microlearning market is expected to register a CAGR of 14.2% over the forecast period. The use of microlearning is rapidly becoming more common across workplaces, homes, and educational institutions. According to the NTL Institute of Applied Behavioral Science Learning Pyramid model, the traditional learning methods based on listening, reading, and observing are ineffective. The person might recall only 20% to 30% of the contents. The advancement in technology based on simulation learning is effectively driving the market's growth, with a high percentage of learning outcomes.
Key HighlightsThe market is moderately fragmented, with many local and regional players competing in a fast-growing microlearning market. Players in the microlearning market are engaged to offer their content through the interactive medium that will develop a high interest of the learners in these training platforms. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their service offerings and gain sustainable competitive advantage.
In June 2022, Axonify, one of the leaders in frontline employee training and communications, announced the acquisition of Nudge, one of the top-rated employee communication and execution platforms. The partnership will deliver an integrated approach to learning, engagement, and execution that leverages Axonify's adaptive microlearning methodology with Nudge's two-way communications and task management platform.
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