In this fast-paced world where almost everything changes at lightning speed, today’s newest technology may become outdated after a few days or weeks. The same is true with what we learned in school, some of which could likely be irrelevant or totally obsolete by the time we started our first jobs! This breakneck speed of change is one of the reasons why the learning management systems and eLearning platform market is among the busiest in the technology industry nowadays. The LMS space itself is peppered with disruptive technologies–AI, VR, mobile, big data–hence, the need to keep pace with the trends. To help you out, we have prepared these learning management systems and eLearning statistics. They include market figures, software adoption and uses, effects on businesses and schools, and key industry trends, critical information that will provide you with valuable insights, whether you’re a vendor, administrator, instructor or learner.
The learning management system market size is expected to be among the biggest in the entire technology industry in the immediate future. With the more than 700 LMS vendors in the market today, the digital learning landscape is likely to become more exciting and intense in terms of competition and upcoming technological breakthroughs.
The major growth drivers behind the ongoing LMS market boom include the rising adoption of digital learning, numerous government initiatives for LMS growth, the expanding use of AI and machine learning (ML) in both academic and corporate learning setups, and Bring Your Own Device (BYOD) policy and enterprise mobility. Likewise, open learning platforms like Moodle are also spearheading the popularity of online courses. Today, we have dozens of Moodle alternatives that let administrators deep-configure their LMS system via open API.
At the rate the gamut of learning management system research and development initiatives is driving new technological innovations, it’s probable that many companies will invest more of their L&D dollars into a learning management system, which not only delivers and tracks training but also provides effective results. The same goes for schools worldwide, where administrators are increasingly collaborating with their IT departments in choosing the best LMS for their institutions.
The bulk of the learning management system data we’ve analyzed indicates that the adoption and usage of LMS and eLearning technologies is likely to further accelerate. Looking back, it is almost 30 years since the very first LMS was used by the UK’s Open University in 1990. From web learning and on-demand learning, LMS technology had undergone numerous changes and advancements to reach today’s generation of digital learning tools that support learning anytime, anywhere.
The benefits of digital learning technology are compelling and extensive. It provides organizations the convenience of organizing eLearning content in a single place and gives learners unlimited access to LMS materials. It removes the cumbersome tasks of manual tracking of learner performance and progress, including the usual high cost of L&D. With new innovations emerging regularly, the rich features of LMS platforms are likely to further expand.
The learning management system market share in large enterprises and SMBs is in a continuous flux, as businesses regardless of their size are increasingly expanding their use of digital learning modalities. The same goes for educational institutions, whose expanding use of the different types of LMS solutions is also paving the way for new levels of academic excellence.
As the competitive space for technology-based learning continues to expand faster, staying on top of the latest LMS developments and trends have become more important than before. Likewise, the need for LMS vendors to continually reinvent themselves had never been more demanding today than it was before.
From big data learning management system and AR/VR to specialized market segments, cloud-hosted LMS, and new protocols, these are only some of the major current and future developments that will affect the training industry throughout 2019 and beyond.
Having an LMS solution is only as good as having a strategy that nurtures a culture of self-directed learning in an organization, whether in business or in the academe. A learning culture made efficient by LMS is critical to developing relevant, timely skills, which help learners to be more ready and empowered to take on new challenges. Without doubt, organizations that are able to provide learners with the correct LMS tools to facilitate efficient skills development as they perform their daily tasks are most likely to succeed in the current highly competitive market environment. To future-proof your choice of an LMS, ask yourself these:
Amidst a plethora of LMS solutions in the market at present, it is suggested that businesses searching the best LMS for your business to conduct some research first before making a buying decision to ensure success.
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