The European market for managed learning services is expected to
New York, June 23, 2022 (GLOBE NEWSWIRE) — According to analysis by Persistence Market Research, the Growth of the managed learning services market in Europe is expected to grow at a high CAGR of 8.8% from 2022 to 2032. The report also predicts that the market will exceed a valuation of $85.3 billion by the end of 2022.
The adoption of managed learning services has increased in Europe due to the growing focus on efficient workforce management and digitization of learning processes. Augmented and virtual reality are the products of technological progress. The rapid growth in computing power along with the accessibility of the required headset has propelled the demand for virtual and augmented reality in the e-learning industry. This allows professionals and corporate employees to train and learn like never before.
Changing preferences of organizations over traditional methods of learning and development, growing demand for automated systems and services, and need to streamline the management of employee learning are propelling the growth of the market. Growing trends for personalized and adaptive training experiences among training and development professionals are prevalent in today’s learning environment. Growing demands for a personalized and tailored approach that matches the readiness and skill levels of learning professionals will meet the future needs of employees.
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Key insights from market research
- By service segment, learning administration accounts for a significant share of the European managed learning services market over the forecast period. The segment is estimated to grow at the highest CAGR of 10.6% through 2032.
- By company size, large companies currently dominate the market. However, demand for MLS from small and medium businesses is expected to grow at a high CAGR of 10.9% through 2032.
- By industry, the IT and telecommunications sector is expected to register the highest market share of around 26.8% by 2032. However, the education industry is expected to grow at the highest CAGR by 10.6% until 2032.
- By country, the UK is expected to dominate the market, followed by France. UK is expected to be the fastest growing market between 2022 and 2032.
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“Organizations with more than 250 employees opt for training outsourcing services. As a result, learning and development programs are becoming a priority for business leaders in the European region,” says a PersiStence Market Research Analyst.
eLearning Application Fueling Managed Learning Services
The COVID-19 outbreak has changed learning patterns and developmental activities. The growth of the e-learning market has been fueled by the increasing use of technology in education. The barriers created by work-from-home practices in terms of training, progress tracking, and communication support the growth of e-learning platforms for small and medium-sized businesses as well as multinational organizations.
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Therefore, to meet the changing demands of work practices, organizations are focusing on developing customized e-learning solutions.
- For example, in April 2021, LinkedIn announced plans to build online portals for companies to offer training videos and materials to their staff on topics such as strategy and connected technologies.
Multi-vendor management and data privacy Cconcerns affecting market growth
Multi-vendor management is becoming a huge challenge for users of Managed Learning Services (MLS), especially in large enterprises in European countries. Inefficient management of multiple vendors, especially in times of synchronized releases of development activities, often leads to delays in deliverables.
Additionally, data privacy issues with external vendors for critical training programs that contain important data often lead to security issues. Outsourcing cynical training activities after the implementation of a crucial strategy is often a major challenge for companies across Europe and can dampen demand for managed learning services.
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More valuable information about the offer
Persistence Market Research report on Europe Managed Learning Services industry is segmented into four major sections: Service (Training Administration, Purchasing/Supply Chain Management, etc.), Company Size business (small and medium-sized enterprises (SMEs), large enterprises), industry (banking and financial services and insurance (BFSI), consumer goods and retail, telecommunications and IT, healthcare, manufacturing, education and others) and countries (Germany, Italy, France, UK, Spain, BENELUX, Russia and the rest of Europe), to help readers understand and assess the lucrative opportunities in the demand outlook for managed learning services in Europe.
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