Yahoo Finance Micro-Learning Market Valued at USD 1.09 Billion in 2019 and Expected to Register 14.6% CAGR during 2020 to 2027 - Report by Market Research Future (MRFR)
New York, US, Oct. 26, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Micro-Learning Market information by deployment, by components, by organization Size and region – forecast to 2027” market size to grow at a compound annual growth rate of 14.6%.
Market Scope:
Micro-learning is a process of breaking down complex concepts into short bite-sized courses for easier consumption. It has been utilized by companies for upskilling workers at facilities or employees at large firms. The global micro-learning market report by Market Research Future (MRFR) covers prospects of edtech and emergence of various platforms to cater to the swelling industrial workforce. It consists of drivers and restraints for the forecast period (2020-2027) as well as the effect of the COVID-19 pandemic.
Dominant Key Players on Micro-Learning Market Covered are:
Count5
Cornerstone OnDemand
Axonify
iSpring Solutions
Mindtree
Bigtincan
Gnowbe
Qstream
mLevel
Saba Software
Epignosis
Pryor Learning Solutions
Crossknowledge
IBM Corporation
SwissVBS
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Market USP Exclusively Encompassed:
Market Drivers
Goals of developed and developing nations to increase food production by 70% by 2050 can drive the market demand significantly. Introduction of subsidies to farmers and loan schemes for adapting modern methods can bode well for the market. Farm mechanization that refers to use of modern vehicles for irrigation of and harvesting of crops can favor the market. This can increase the output while keeping labor costs low. Government efforts to bring in farmers to the industrial fold by assuring timely assistance with fertilizers, crop seeds, and right prices for their crops can influence farmers greatly. This is exemplified by release of funds to states by the central government of India through its Sub-Mission on Agricultural Mechanisation scheme for establishment of farm machinery banks, distribution centers for machines, and custom hiring centers.
Lack of arable land, need of fresh water, and climate change are challenges posed to the market.
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Segmentation of Market Covered in the Research:
By component, the global micro-learning market has been divided into solutions and services. The services segment has been further broken down into two segments: consulting and implementation and support and maintenance.
By deployment, the global micro-learning market has been divided into cloud and on-premise.
Based on organization size, the global micro-learning market has been divided into small- and medium-sized enterprises (SME) and large enterprises.
On the basis of vertical, the global micro-learning market has been divided into retail, manufacturing and logistics, banking, financial services, and insurance, telecom and IT, healthcare and life sciences, and others.
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Regional Analysis
APAC is touted to lead the global market owing to increased demand for food by the large population residing in China and India coupled with need for sustainable practices. Government support for enabling modern equipment for resident farmers and rising export of cereals from the region can bolster market demand. Indonesia has also vouched for local production of farm equipment with the government setting aside a fund for increasing yields and investing in rice science. Huge demand for tractors and investments to reduce harvest losses can drive the market.
North America has assumed the second position in the micro-learning market owing to huge demand for tractors. Used farm equipment is another niche segment sprouting in the region owing to assurance on these products given by certified preowned programs. In addition, leasing of equipment to farmers in Canada and the U.S. may also bolster market revenues.
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COVID-19 Impact on the Global Micro-Learning Market
The COVID-19 outbreak has affected the supply chain of agriculture equipment which has in extent foiled the plans of procurement of additional arable land for cultivation. Focus of companies for producing crops locally and sell to farm outlets is expected to drive the market demand significantly. New farm laws enabling companies to tie-up with large farmers to gain stocks of viable crops in respect to customer demand may be suitable to the market. This is evident by establishment of centers housing fresh farm produce.
Industry Update
BetterPlace, the platform for blue and grey collar workforce management, has acquired Oust Labs, a micro-learning platform for upskilling of employees in 2021.
Industry Trends
Introduction of smart equipment capable of providing accurate metrics on soil quality and other parameters vital for a good harvest can disrupt the micro-learning market. This is exemplified by Caterpillar launching skid-steer loaders with room for attachment for other equipment for multi-tasking purposes. The tools in the machine can recognize new equipment and assign controls accordingly.
Farm monitoring platforms have gained prominence with the evolution of internet of things and use of data for improving farming practices. Recently, FarmMicro has launched a farm control monitoring system, SmartFarm, for allowing farmers overall control of their equipment. Examples of applications are livestock monitoring and control of irrigation gates, rain gauges, and farm gates. The company has even partnered with John Deere to provide real-time data for proving insights into operations.
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