Learning Management System Market registering 18.0% CAGR during the forecast period, to reach US$ 98.5 Billion by the end of 2032. Adoption of learning management systems is increasing in enterprises as there is growing need of social exchange and learning due to faster rate of business and technological changes. Learning management systems enables better feedback on changes in the organizations.Learning management systems technologies ensure that the employees or students are able to access any information at fingertips. Learning management systems encourages employees to share the knowledge that employees have and seek out expertise to increase performance across the organization. Learning management systems enhances the traditional training method by bridging gap between formal and informal workplace education.
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Learning management systems platform provides the ability to upload user generated content and offers opportunity for self-directed learning. It allows groups to collaborate and share knowledge or learning experiences. Learning management systems platform also ensures an accessible online community where learning becomes more meaningful as individuals interact with each other to share the knowledge.
However, around 70% of organizations are increasing their focus on learning management systems as learning management systems platform helps enterprise for improving productivity and performance of the employee so the adoption is increasing.
What are the Key Trends Impacting Growth of the Learning Management Systems Market?
Employees mostly are trained by on the job experience due to which performance support is necessary for the employees. Performance support guides the employees to perform the task in right way and help to solve doubts of the learner. Employees are being provided the performance support in the form of bit-sized videos, infographics, and checklist. These formats are effective in catering to the needs of employees.
As the employees are more attracted towards the technology for engaging learning content, the adoption of augmented reality for performance support is increasing. With Augmented reality offering performance support employees can access information just by holding their smartphones in front of the particular object or product. Employees just hold the phone towards the product and all the needed information is shown on the screen. The number of mobile augmented reality user is expected to hit around 3 Bn by 2021. Thus it is one of the significant factor anticipated to drive the growth of the market over the forecast period.
Gamification is the Future of Learning
The demand is increasing for learning management system platform among organization of various sectors as the platform offers complete control of automisation, communication, and administration and allows the creation and management of content in simple way. Learning management systems offer a feature that helps to track and monitor the progress of the learner or students and user can easily combine image, text and video in learning management systems for engaging the learner.
Gamification in learning management systems keeps the users interested and challenged that offers better result through engagement. Learners can collaborate and communicate through learning management systems with their instructors or colleagues through online discussion forum that makes learning interactive. Learning management systems make it easy for the trainer to update the existing content or add new content in less time, making blended learning possible wherein simulation based learning, mobile learning is made possible. Learning management systems offers anytime flexibility and save cost and money spent on renting lectures, transportation cost, printing paper materials and other relevant costs.
What are the Key Challenges that may Restrain Growth of the Learning Management Systems Market?
Mobile devices used for learning management systems could be an issue if there is a poor connection quality or if the user don’t have proper internet connection, due to which user may face problems while learning. Mobile device can be distraction for the learners especially for the younger age group. Children are easily attracted towards playing games on smartphones and tablets rather than online learning, and parents as well as teachers are not able to control them. For elder group mobile learning can also be distractive if the user is constantly receiving messages and notification. Hence, due to the distraction of the user the growth of learning management systems market is restricted.
Competitive Landscape
Key players such as
- Blackboard Inc.
- IBM Corporation
- Oracle Corporation
- SAP SE
- Adobe Systems
- WizIQ Inc.
- E-Zest Solutions
- CrossKnowledge
- Others
are actively involved in offering learning management solutions for different end-users.
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What strategies are the Key Players adopting for Increasing their Market Share in the Learning Management Systems Market?
- In March 2020, Blackboard Inc. launched a Self-Service Portal, which allows school districts, higher education institutions, and organizations to implement the virtual classroom solution easily. The main objective to launch this portal was to help institutions and organizations to maintain academic continuity due to recent campus closures and lockdown imposed due to COVID-19.
- In April 2020, Cornerstone Ondemand, Inc. acquired Saba Software, Inc., a global provider of talent experience solutions. Through this acquisition Cornerstone will be able to accelerate the innovation and increase the company’s ability to help a larger, diverse group of clients.
Key Segments of Learning Management Systems Market Covered in the Report
Based on Component:
- Learning Management System (LMS) Platform
- Services
Based on Learning Mode:
- Distance Learning
- Instructure Led Training
- Blended/Hybrid Learning
Based on End-user:
- Individuals
- Government Organizations
- Academic Institutions
- Corporates/Enterprises
Based on Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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