By now, it’s no secret that the learning management system (LMS) global market is booming (it’s currently worth more than $5 billion) and projected to grow at exponential levels over the next decade. And as it grows, you can expect to see certain evolving trends, and you’ll want to make sure that you’re monitoring these trends so that your organization can maintain its competitive edge.
Continue reading for a brief analysis of the current global LMS market, as well as some trends and projections that you’ll want to keep in mind.
Brief Analysis of Global LMS Market
It should go without saying that the current demand for LMS platforms and systems is strong and that many vendors and competitors are popping up across the world to meet such demands. However, there are currently distinct key players in the corporate LMS marketplace space:
- Saba Software
- Tata Interactive Systems
- Absorb Software
- Sumtotal Systems
- Adobe® Systems
- Cypher Learning
- Latitude CG
- IBM (Kenexa)
In addition, innovative LMS technologies, designs, and systems are being created on a routine basis to inspire trends and meet user demands as outlined in the remainder of this post.
And most LMS systems and platforms are now implemented in and across cloud-based or hybrid environments, which is further propagating the growth of distance learning, e-learning, mobile learning, social learning, on-demand learning, and other online learning infrastructures.
Current Global LMS Market Trends
Enterprise mobility. With the increased rates of employee smartphone usage and flexible schedules that permit employees to work remotely, more and more organizations are implementing bring your own device (BYOD) policies and procedures. This means that training and L&D professionals need to ensure employees can easily access learning materials securely from their mobile devices from any location.
LMS platforms and systems must be accessible from employees’ mobile devices now, or chances are very high that employees will not access them at all, and this, of course, deteriorates the overall return on investment (ROI) your organization will see when implementing and managing an LMS.
Virtual reality and augmented reality training. LMS systems that allow employees to engage with virtual and augmented reality training modules and content are no longer a thing of the future; they’re here right now. It’s important to seriously consider and implement LMS platforms and tools that will allow you to author, edit, share, and manage courses with virtual reality and augmented reality content.
Emphasis on continuous learning. Because employees are on the go and mobile nowadays, and because technology is evolving and changing at rapid rates, it’s imperative that your LMS focus on continuous learning opportunities. Whether it’s through social learning, gamification, mobile learning, microlearning, or something else, your LMS must emphasize continuous learning opportunities and must be able to adapt to and evolve with new technologies.
Stay tuned for tomorrow’s post, which will highlight additional current trends in the global LMS market, as well as some emerging LMS market trends and projections.