Learning Management System Market to be Dominated by Growing Solutions Through 2028
Learning Management System are being more widely used on a
worldwide scale owing to the increasing demand for e-learning and rising
adoption of cloud-based solutions.
According to
TechSci Research report, “Learning Management System Market – Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028F” The market for learning
management systems has been expanding quickly as a result of rising e-learning
demand and rising regulatory compliance requirements. A Learning Management
System (LMS) is a piece of software that delivers, manages, and tracks educational
content, courses, and training programs. It is a web-based platform that gives
businesses the tools they need to develop, deliver, and track e-learning
courses and training programs.
According to the report, the
market is driven by the increasing demand for e-learning and the rising need
for regulatory compliance. Businesses that prioritize the development of human
capital training and development are crucial components of organizational
growth and workforce development, and efficient employee learning and
development have a favorable influence on employee performance and
organizational competitiveness. Employees that receive training are better
equipped to acquire and gain new skills, which boosts their productivity and
competitiveness at work and within their business. It entails technological
integration, content production, and distribution strategy. LMS aids businesses
in creating useful training modules that workers may use to learn and retain
information. As they can access the modules whenever they choose, employees are
more likely to be productive and contribute to the success of the business. Businesses are often reluctant to create
microcontent from their existing training materials due to the time and cost
associated with such an undertaking. While having comprehensive training and
development programs in place is beneficial, the process of converting such
information into micro content can be challenging due to the time and financial
investment involved. As a result, most corporations are not willing to commit
the resources required to turn their training materials into microcontent on a
global scale. To
deploy microlearning-based training, an organization may need to create
training material from scratch, which can be expensive. It becomes rather
challenging for an organization to organize and manage information into the
microframework.
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The learning management system
market can be segmented by component, deployment, end user industry, and
region.
On the basis of component,
the market is segmented into solutions and services. On the basis of component, the solution sector is
the dominant player of Learning
Management System market. Market players such as Oracle, SAP, and others
are integrating cutting-edge technologies such as machine learning (ML),
artificial intelligence (AI), and analytics into current learning management
system (LMS) systems.
On the basis of deployment, the market is
segmented into On-Premises, and Cloud. The dominance of cloud-based deployment
in the LMS market is attributed to its absence of capital cost and low
maintenance requirements, making it the most favored deployment model by
academic and enterprise user types. Furthermore, the direct IT control, real-time
teaching, faster document processing, and cost-effectiveness of cloud
deployment are expected to accelerate the growth of the LMS market during the
forecast period.
On the basis of end user
industry, the market is further split into education,
oil & gas energy, BFSI, healthcare, government & defense, IT &
telecom, transportation, and others.
The market analysis also
studies the regional segmentation to devise regional market segmentation,
divided among North America, Europe, Asia-Pacific, South America, and Middle
East & Africa.
Key market players in the global
Learning Management System market include:
- McGraw
Hill
- Blackboard
Inc
- John
Wiley & Sons, Inc
- Saba
Software
- Callidus
Software Inc
- Paradiso
Solutions
- Oracle
Corporation
- Emerson
Network Power
- Jzero
Solutions Ltd
- Epignosis
LLC.
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“With people favoring
training and learning sessions more and more, there is a noticeable increase in
the need for intelligent and interactive learning platforms including
electronic learning (eLearning), open online courses, mobile education, and
online tutorials. Educational institutions use tools to assist and improve the
effectiveness of teaching and learning. This element will probably increase
demand for learning management systems. Significant market participants are
also solely meeting the rising need for personalized, secure, and interactive
learning technologies,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
Learning Management System
Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028F “Segmented By Component (Solutions
and Services), By Deployment (On-Premises and Cloud), By End User Industry (Education,
Oil & Gas energy, BFSI, Government & Defense, IT & Telecom,
Transportation Others), By Region” has
evaluated the future growth potential of Learning Management System and
provides statistics and information on market structure, size, share, and
future growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in the global Learning Management System market.
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