According to a research report “Learning Management System Market by Component (Solutions and Services), Delivery Mode (Distance Learning, Instructor-led Training, and Blended Learning), Deployment, User Type (Academic and Corporate), and Region – Global Forecast to 2026″ published by MarketsandMarkets, the global LMS Market size to grow from USD 15.8 billion in 2021 to USD 37.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.1% during the forecast period. The LMS Market is fuelled by enterprises focusing more on human capital development. Effective employee learning and development brings a positive impact on employee performance and organizational competitiveness. Training also helps employees develop a positive attitude toward learning and improving proficiency, which results in enhanced productivity and competitiveness in the workplace and the organization.
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A learning management system (LMS) is an e-learning platform used to design, deliver, and track training programs. It offers a blended learning environment, extensive batch management, monitoring of course completion, and automation for a seamless training experience. Organizations deploy LMS to impart goal-specific training and make learning easy and interactive. LinkedIn’s Workplace Learning Report (2022) puts learning and development (L&D) at the forefront of businesses, with 53% of learning and development (L&D) professionals suggesting that the learning function is integral to success and 48% of organizations working toward deploying learning management systems by increasing their investment capacity.
Cornerstone OnDemand, D2L, Blackboard, IBM (Kenexa), Adobe Systems, Docebo, and Cypher Learning are among the key players in the learning management system market.
Major trends that play an instrumental role in shaping the learning management system market include:
- LMS offers easy integration capabilities to business systems and has become a top priority to enable a learning strategy that directly impacts business processes and results
- Artificial intelligence (AI) and machine learning (MI) technologies streamline learning and facilitate e-learning management through data analytics, chatbots, and assigning of tasks
- Gamification and game-based learning instill motivation through badges, points, and leaderboards, encouraging learners to focus more on the course
- Integrating microlearning—which has a higher completion rate and could be used as on-the-go training—with LMS will make it easier for learners to access course materials anywhere
- Augmented reality (AR) and virtual reality (VR) allow trainers to understand and measure users’ progress and take corrective measures to boost efficiency
- Big data analytics can determine the company’s ROI on training by analyzing user experiences and performance data
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There is no question that technology has transformed businesses today. We now live in an interconnected world where traditional training methods have become less relevant. With technological advances, modern LMS has become more than an administrative tool to deliver and track e-learning—it has adapted to innovative trends and techniques, creating a more personalized and collaborative learning experience.
Major vendors in the LMS Market include Cornerstone OnDemand (US), Blackboard (US), PowerSchool (US), Instructure (US), D2L (Canada), SAP (Germany), SumTotal (US), IBM (US), LTG (UK), Oracle (US), Infor (US), Adobe (US), and Docebo (US).
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