Learning Management System – Introduction & Importance
Learning management system is commonly referred to as ‘LMS’ which is its abbreviation. At its heart, it is a software that was formed with a purpose to ease the load off the teachers & instructors who impart education. It can help them to administer, document, monitor, report and deliver educational courses or training programs. In the past, the teachers had to do all of these things by themselves and it used to get tiresome after a certain point. But with LMS, they can now heave a sigh of relief. In the past few years, this software has made a name for itself in the education industry. Thanks to this fact, the global Learning Management System Market is getting impetus.
Learning management system has the ability to handle the delivery and follow up of the educational content. Apart from that it can also manage various other procedures like online course administration, tracking, student administration and inspection of a student’s work. And there are some distinct LMSs that can also assess whether or not a student is meeting his or her academic goals.
On the whole, this software is a big hit in the education sector and holds great future potential.
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At present, the education sector is undergoing a phase of technological reformation. Due to this, it can be confidently assumed that the global learning management system will register significant growth in the forthcoming years. During the forecast period of 2016-2022, the revenue for this market is estimated to double. In terms of CAGR, the market is anticipated to tread forward at the rate of 22%.
There are a number of growth propellers that work collectively to bring about success and development for the market. E-learning industry is growing by leaps and bounds these days. Many schools and universities have included it as a part of their mode of teaching. This is one of the major reasons that drives the growth of the market. The increasing prevalence of cloud computing and higher demand for affordable training solutions further leads to development of the market.
Industry/ Innovation/ Related News:
Jan 21, 2016: Blackboard, Inc. had announced for deploying its flagship learning management system and Software-as-a-Service (SaaS). With this announcement, the company is offering Learn Software-as-a-Service Plus and Blackboard Learn Software-as-a-Service Advantage for the higher education institutions in the United States. The company is availing the learning management system along with zero-downtime upgrades, higher quality through continuous delivery, new services innovation, and increased scalability.
July 13, 2016 – McGraw-Hill Education has announced learning platform with canvas learning management system that makes teaching and learning easier for educators and students. With this platform, it would be easier for the companies to connect with the student digitally and deliver the content and adaptive learning to them. This will improve the learning experience for all students.
September 29, 2016 : Expii, Inc. and Edmodo went into the strategic agreement for providing personalised interactive learning to the students and free application that offers personalized learning recommendations. By this agreement, the companies are making content accessible to the users for their learning experience.
The worldwide learning management system market has been segregated into four equal divisions. They can be listed as services, applications, geographies and deployment methods.
When it comes to services, the industry is further sub-segmented into content management, administration, communication & collaboration and performance management.
On account of applications, the market is bifurcated into academics and corporate.
Geographically, the market is spread across various areas of the world like North America, Asia Pacific Europe and Rest of the World. Out of these North America has an edge over the other regions and holds the largest market share. It is because the individuals in this area are more knowledgeable and open to accepting this concept. Europe comes second after North America. Asia Pacific is growing rapidly and is expected to override other countries in the coming years.
Lastly, based on deployment methods the market has divided into on premise and cloud.
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The global learning management market has witnessed many important innovations over the years. Just recently, an LMS software that is compatible with mobile devices was recently. This is one innovation that has stood out and proved its worth. Many organizations have started choosing this software over the traditional one owing to its ease of use and convenience.
Learning Management System Market: Regional Analysis
Learning management system global market is expected to be dominated by North America with the largest market share due to increasing awareness and growing adoption of learning management system by organizations in the region, and therefore accounting for a huge economy by 2022. Learning Management System Market in Asia-Pacific market is expected to grow at a considerable rate of CAGR. The learning management system market growth is driven due to increasing demand by organization for cost-effective learning system to train their employees which would give better return on investment in the future.
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