A Quick Analysis of LMS Market For The Investors

A Quick Analysis of LMS Market For The Investors
No change is permanent; it keeps on evolving and technology changes in the LMS market are its biggest example.

The newest technology becomes obsolete after just a few months or years of its advent. What you followed yesterday might not remain a revenue-generating strategy today.

At present, eLearning and learning management systems are major platforms where technology is in its full swing. Keeping pace with technology trends is the need of the hour for most business owners and investors.

The LMS market has been bombarded with several new-age trends, like AR, VR, Big data, Micro-Learning etc. Investors and buyers in the LMS market must have valuable insights into critical information and key industry trends before they invest in an LMS.

  1. LMS Market Facts & Figures

    In the near future, the market size of LMS is going to increase by multiple times its current size. Because of this, the digital learning space will see more intense competition among vendors and an exciting learning journey for the users.

    • It is projected that the worldwide LMS market will be valued at around $15.72 billion by the year 2021. This is because a steady growth of 5% has been realized within the past few years and more companies are actively participating in LMS investment.
    • The education industry is expected to flourish in the Asia Pacific region, which in turn, will boost the demand for LMS in the Asia Pacific between 2018 and 2023.
    • According to research, the global market of LMS should reach $19.05 billion by 2022, at a CAGR about 24%.
    • Another report states that by 2023, the market size of LMS is expected to rise up to $22.4 billion.

    As an investor, you must be prepared beforehand. You should also be aware of the major growth drivers behind the boom in the LMS market. Some of the most prominent and key growth factors include the use of machine learning and artificial intelligence in academic and corporate learning setups, government support and initiatives taken for LMS growth, increasing awareness of digital learning benefits, enterprise mobility and even the strategy of Bring Your Own Device (BYOD).

  2. LMS Impact

    If we talk about the impact of elearning or LMS on your business, you’ll be surprised to know the results (discussed below). It eliminates the need for a huge investment in learning and development by automating repetitive tasks, tracking learner performance, giving unlimited access to training materials and organizing the entire learning course in a single location. Further, considering the new innovations in the LMS sphere, it can be rightly said that the future holds more benefits and improved features in an LMS.

    • Personalized training strategies will be globally adopted by more and more organizations in 2019.
    • Consuming 40%-60% less employee time, elearning helps in saving both time and money.
    • 85% of the learners who have been a part of both in-person and virtual classrooms believe that online learning delivers as good results as classroom learning or even better.
    • The benefits of elearning have been so profound that 72% of global organizations polled agree that using the best learning management system software in the market, they gained a competitive advantage in their respective domains.
  3. Latest LMS Trends

    This new age will be all about the trends and innovations surrounding the LMS market. Some of the latest trends include the following -

    • Integration of videos in learning is one of the biggest trends in 2019 (and upcoming years as well). Through video learning, users can now create a new eLearning content, add bookmarks, leave comments, give feedback, etc.
    • Thriving eLearning ecosystems will be established, which will eliminate the need to reinvent the eLearning wheel. Elearning course marketplaces will help LMS vendors integrate with each other and help them explore wider online training resources.
    • Although micro-learning is not new, it will see a surge in its use in 2019.
    • With millennials as the predominant generational demographic in organizations, business owners need to invest in a learning platform that is both tech-savvy and tech-dependent. This is why Multi-channel learning is promoted, which allows instant access to learning and faster application of skills learned.
    • Learning curation and engaging learning experiences will be the focus of tomorrow, i.e., the future of learning management systems.
    • AI-powered enterprise learning is also the most awaited LMS trend that will improve the personalization of learning.

    Nobody knows what lies in the future. However, simply waiting and letting the competitors make the first move is not the right strategy. Every investor, business owner and even the learners must be aware of the latest trends and a complete analysis of the market.