Global Learning Management Systems (LMS) Market: Snapshot
The global learning management systems (LMS) market is estimated to gain a valuation of US$ 37.9 Bn by 2026. Hence, the market for learning management systems (LMS) is prognosticated to register growth at a CAGR of 19.1% during the forecast period of 2021 to 2026. Instructor-led training, blended learning, and distance learning are some of the delivery modes available in the learning management systems (LMS) market.
The growth of the global learning management systems (LMS) market is ascribed to several factors such as rise in the need for efficient management of learning content and accessible & effective learning. Furthermore, the market for learning management systems (LMS) is anticipated to expand due to increase in the focus of enterprises from varied industry verticals on human capital development and rise in the use of cloud-based LMS solutions across the globe.
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Surge in the adoption of bring your own device (BYOD) concept among enterprises globally is resulting into increased sales growth in the global learning management systems (LMS) market. Government authorities of many developing nations around the world are encouraging enterprises to adopt digital infrastructure. This factor has resulted into significant growth in the acceptance of video conferencing solutions. This, in turn, is fueling the demand opportunities in the global learning management systems (LMS) market.
Several companies operating in the global learning management systems (LMS) market are using different strategic moves in order to stay ahead of the market competition. For instance, players in the market for learning management systems (LMS) are entering into strategic partnerships, collaborations, and joint ventures. These efforts are helping enterprises to improve the quality of the services they offer. Besides, several companies in the learning management systems (LMS) market are acquiring their smaller competitors in order to maintain their leading position. Such efforts are helping in overall growth of the market.
A learning management system is a software application to create, document, track, and report a specific learning process. Typically used for educational courses or training programs, a learning management system (LMS) helps instructors deliver content, administer tests, monitor student participation, track student progress, evaluate student performance, and manage records. It may also equip students to use interactive features such as video conferencing, threaded discussions, and discussion forums.
A LMS is largely used in educational institutions. It has been used for many years to deliver course material in schools and to encourage e-learning practices. A learning management system supports physical classroom settings, fully online training programs as well as hybrid learning programs.
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Over the past few decades, learning management system is increasingly being used by companies to deliver training to their employees as well as to train customers for products and services. The LMS is emerging as a powerful instrument for consulting companies that are mainly into staffing and training and for any corporation that is looking to provide continued education to its workforce. Nevertheless, LMSs are mostly used by regulated industries such as biopharma and financial services for compliance training. Some LMS systems also include ‘performance management systems’ to carry out employee appraisals, skills-gap analysis, multi-rate assessments, and succession planning. Some LMSs also support competency-based learning.
LMSs are almost of 600 types that are available for purchase. Each possesses unique features to meet the needs of a number of educational and training programs. Most LMSs are web-based that not only facilitate access but also allow easy streaming and tracking of data.
Global Learning Management Systems (LMS) Market: Overview
As technological advances increasingly make inroads in the field of education, students and educators are gaining an unprecedented access to data, content, and information in a more readily available manner than ever before. This has presented the need for a systematic and comprehensive integration of learning management systems with modern-day education systems, which essentially serve as web-enabled relational databases tying together contemporary education reforms with creative and effective digital technologies. In the near future, learning management systems will emerge as one of the cornerstones of education systems, linking instructional resources, curriculum, student data, assessment strategies, staff proficiencies, and other elements of a digitally advanced leaning models.
Global Learning Management Systems (LMS) Market: Trends and Opportunities
The rising numbers of universities and other learning platforms offering e-learning courses, the increased demand for such courses, and the rapidly rising proliferation of mobile devices such as laptops, tablet computers, and smartphones among global consumers are the key factors driving the adoption of learning management systems. Advancements in networking technologies and the availability of high-speed data communication networks across remote corners of the world are also driving the adoption of online courses, thus driving the need for the implementation of effective learning management systems.
Global Learning Management Systems (LMS) Market: Market Potential
Realizing the vast potentials of integrating online education solutions and services with efficient learning management systems, several notable education services and solutions providers are entering into strategic collaborations or are acquiring niche learning management system providers. The recent acquisition of Solomon Learning Management System from Mersoft Corporation by ACS Technologies is a good instance. Solomon Learning Management System is a cloud-based platform for management of teaching and learning solutions. The acquisition is a way for ACS Technologies to leverage its potential to better suit the needs of its clients, which are mostly churches, organizational offices, and schools.
Global Learning Management Systems (LMS) Market: Regional Overview
From a geographical perspective, the market for learning management systems in North America presently leads, accounting for the bulk of share in the global market. The U.S., owing to the established e-learning industry and excellent networking infrastructure, is the most significant contributor to the North America learning management systems market. Presence of some of the world’s leading learning management system companies in the region has also leveraged its role in the global market.
In the next few years, Asia Pacific is expected to emerge as one of the most promising destinations for the learning management systems market. The region will present growth opportunities for the learning management systems market owing to ongoing network infrastructure development activities in developing economies such as Philippines, India, and China and the easy availability of online courses. Rising investments with the aim of leveraging the digital quotient of corporate training and product data distribution models have also fared well for the learning management systems market in the region in the past few years.
Global Learning Management Systems (LMS) Market: Competitive Dynamics
The global market for learning management systems features a highly fragmented vendor landscape, with some of the leading vendors accounting for relatively low shares in the overall market. In a bid to overcome the stiff competition that a fragmented marketplace invariably bears, companies in the market are retorting to acquisitions and strategic collaborations. Some of the leading vendors operating in the market are Cornerstone Ondemand, Inc., ACS Technologies Group, Inc., Oracle Corporation, Instructure, Inc., McGraw-Hill Education, SAP SE, Skillsoft Limited, Saba Software, Inc., IST AB, Upside Learning Solutions Pvt. Ltd., IBM Corporation, and Blackboard Inc.
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