Learning Management System (LMS)
According to Meticulous Research, an LMS market is anticipated to grow at a CAGR of 20.5% from 2019 to 2025 so as to reach $28.1 billion by 2025. Notably, the Learning Management System market is experiencing steady growth due to the increase in the adoption of virtual learning tools as well as the explosion of the online learning industry. Additionally, wide-raging government initiatives for the digitalization of education infrastructure in respective countries as well as increasing inclination towards bringing your own device policy has also contributed to the growth of the LMS market. Nevertheless, high implementation costs and the absence of skilled instructors and trainers affect the growth of the Learning Management System to some extent.
An LMS is a web-based technology that helps in delivering, evaluating, planning, and managing content for learning courses. Notably, it is a software-based platform that offers necessary tools, infrastructure, and frameworks that assist in offering online education. Learning Management System enables education institutions and companies to manage and create courses, lessons, and other training materials. A Learning Management System is similar to an engine that powers online learning and it also assists in smoothening the process from the creation to the delivery of the course. Learning Management System may be utilized by all types of educational activities. Many organizations, enterprises, and businesses utilize LMSs to manage employee training programs of their employees.
Learning Management Systems (LMS) began gaining popularity when they were introduced into the market two decades ago. Notably, the fast development in mobile and computer technology further contributed to its growth, particularly with the arrival of high-speed internet. Learning Management System is commonly used in the business and education world. With Learning Management System tools, organizations and businesses get numerous benefits, as their workers might acquire knowledge to update themselves with technological advancements. Learning Management Systems enable schools to widen the reach of their learners who are located in remote locations. Additionally, the functionality of LMS platforms makes learning easier compared to previous years.
The general LMS market is broadly segmented by product offering (services, solutions, delivery mode (instructor-led education, distance learning), type of deployment (on-premise, cloud), use group (corporate, education), and geography.
Based on product offering, the Learning Management System (consisting of administration modules, performance management, and content management) had the largest overall market share in 2019. Notably, the larger market share of LMS can be attributed to the high demand for the product as well as the accessibility of customized solutions which enables users to purchase specific activity-based solutions that fit their budget and also benefits software vendors.
Based on the consumer category, the corporate user segment commanded the largest share of the whole LMS market in 2019. Besides, with continuous advancement in technology, the corporate sectors need skilled professionals to work with new technology. Thus, this results in demand for modernized education tools in businesses so as to train and educate their employees.
Based on the type of deployment, cloud-based Learning Management System solutions commanded the largest share of the entire LMS market as of 2019. Notably, the large market share is because cloud-based solutions do not incur maintenance and they have security control from the user side making used depend wholly on the cloud. Additionally, cloud-based software is updated automatically and hence users are less concerned regarding updating the software manually.
Based on the delivery mode, the online learning segment had the largest market shares of the entire LMS market as of 2019. This large share in the market is due to the fact that many learning courses are provided online from high schools, colleges, and universities. It is easy for learners to access courses based on their time scheduling whereas Learning Management System is employed for assessing and monitoring their progress. Additionally, it is beneficial for institutions by lowering the infrastructure costs they offer to learners.
Who Benefits from Learning Management System (LMS)?
Many employees benefit most from the use of Learning Management Systems. This enables organizations to offer uniform and efficient training. All online learning materials are stored and managed in one interface, making it easy for workers to get the needed learning on demand. Learning Management Systems are typically stored online, enabling employees and students to launch education online.
Managers benefit from Learning Management Systems since these programs make it easy to monitor and track the progress of their employees. Notably, reports are created to show the status of the progress of the staff with the needed training. Also, scores are offered to show managers employees who have performed well on exams. Learning Management System resources are crucial to make sure that there is compliance with any regulations on training.
A Learning Management System for organizations that require flexible education choices. It is very scalable, with learning eliminated or added as required. Besides, the content may be updated regularly to offer the latest information to workforces.
Students benefit from Learning Management System (LMS) also. Same as high school or other learning organizations, your enterprise employees, members, partners, or customers remain on the receiving end of educational activities (although, modern solutions permit contributions from students also).
Students who can access a Learning Management System can see their syllabus catalog, finish assigned courses, complete evaluations, and they can measure their progress. Top Learning Management System solutions make sure that this access has a streamlined flow and journey and is on-demand, to make it easy for students to get what to want. Besides, learners can be taught individually, or according to their job functions, as well as their role in the organizational structure of the company.
Key Features of a Learning Management System
Here are the major features that a Learning Management System ought to include:
Artificial intelligence found in the Learning Management System assists in personalizing the learning experience for every student by providing course formats that fit them best. Besides, it suggests courses with subjects that are relevant to those that have already been done.
Automated Administrative Tasks
These features assist administrators in automating tedious/recurring tasks like deactivation, group enrollment, user population, and user grouping.
A platform consolidation feature enables uses to bring all their use cases into a single Learning Management System, hence saving them money, time, as well as and unnecessary hassle.
Tailored Education Paths
Managing many students and online programs in a Learning Management System might feel like heavy lifting, particularly, in case you intend to offer a more personalized experience. Due to the overlapping of various job roles, certain courses are required for all workers, and some skills are shared, hence sequenced education paths assist you in implementing hassle-free enrollments.
Additionally, some offering which comprises artificial intelligence as a Learning Management System makes education more personalize and easier. The Learning Management System starts to understand the preference of your students and sets them on track. Tailored learning paths make it easier on administrators and students, as they collect a collection of programs in the Learning Management System so that they can master that specific program or topic.
Course management assists in the creation of courses, course categorization, user enrollment, and pull reports quickly. This enables administrators not to spend unnecessary time on responsibilities that can be automated. A Learning Management System enables course management which is situated in a central location which is called a central repository where they might create programs, assig them, filter learning plans, channels, and courses, manage course materials, configure advanced course settings, change layouts, and send notifications.
Certifications and Retraining
The Learning Management System should allow management and tracking of all retraining and certification activities such as compliance programs, continuing education, and managing recurring training.
Catalog and Course Management
An LMS holds all course content and online learning courses. Admins can develop and manage course catalogs and programs in order to deliver more targeted education.
Benefits of a Learning Management System
An LMS plays the role of adding an additional level of efficiency to a corporation or a school. Learning Management efficiently creates a virtual learning environment that enables employees and learners to choose courses that they are interested in. Besides, an LMS enables the management to track improvements in offices based on history courses. A Learning Management System enables schools and corporations to do the following;
Improve the Delivery of Content
A Learning Management System enables trainers to prepare and present quality courses or programs that would offer positive educational opportunities for learners.
An LMS enables the management to be informed of the learning needs of employees and the topics that require great attention so as to create more well-rounded workers.
Improve Compliance Reporting
LMSs help in tracking courses learners undertake as well as scores they receive, enabling the management to recognize certification needs and focus on training.
Manage Training More Effectively
Education activities are located in one place, lowering costs, while increasing the visibility of learning opportunities.
Resources and References: