A Learning Management System (LMS) is software used to document, document, track, report, and deliver educational courses and training programs. Businesses benefit abundantly from LMSs as with the help of these tools, employees can cost-effectively gain knowledge. LMS solutions enable educational institutes to work with students globally, making the learning process easier than ever before.
The COVID-19 has resulted in the shutdown of schools and institutions all across the world. As a result, education has changed dramatically, with the distinctive rise of e-learning, whereby teaching is undertaken remotely and on digital platforms. Industry experts suggest that online learning has been shown to increase the exchange of information, and take less time, thereby bolstering the overall market growth.
Globally, organizations are opting for e-learning services to train and educate employees, owing to the expenses associated with traditional teaching methods. BYOD is rapidly emerging as a global trend wherein employees bring their devices to workplaces for work activities or other functions, including training and development. With the upsurge in the adoption of digital technology and preference for BYOD, enterprises are focusing on LMS implementation on smartphones for integrated employment training.
In the BYOD trend, smartphones, laptops, tablets, and USB drives are the most common examples of devices that employees bring to the workplace. Besides, the BYOD concept offers benefits such as innovation, enhanced productivity, cost savings, and access to online training material on employees’ devices to support smart learning. The compatibility of learning management systems with mobile devices and social learning compels corporate to promote the BYOD culture.
Advanced communication technologies are transforming classroom training at a rapid pace around the globe. Gamification works to engage students by applying game principles such as points, progression, and competition to learning activities, which helps drive audiences and knowledge exposure. Incorporating gamification into corporate employee training can encourage healthy competition, which brings about better engagement.
To increase engagement, LMS vendors are adopting several gamification strategies to involve maximum audiences, resolve issues, and introduce novelty in everyday tasks. The TalentLMS 2014 and 2018 survey found that employees become more productive and get better results if their work was more game-like.
LMS platforms and tools can transform boring assessments into fascinating tasks; however, in many countries, especially across Asia, students take their studies very seriously, and they will hardly appreciate entertaining animation or computer-game-style assessments, as they will be more concerned and nervous about achieving high grades. Besides, for examinations, students would rather go through a multiple-choice paper than a highly original and interactive assessment.
International learners find it difficult to overcome the language barrier, particularly during live events such as online group discussions, webinars, and other activities where international students will have to communicate in a second language in front of an unfamiliar audience. Many international learners find it difficult to "fit into" a foreign classroom.For instance, asking questions and debating with trainers and lecturers in a classroom are considered unacceptable practices among students from authoritarian societies such as China.
Asking questions in class and arguing with the lecturer/trainer is considered to be an unacceptable practice. Therefore, cultural barriers may negatively impact the growth of the learning management system market in the coming years.
The implementation of artificial intelligence in learning management systems is expected to create growth opportunities for the LMS market. Integration of artificial intelligence in LMS will help group students/users according to their abilities utilizing periodic and gradual performance evaluations, paving way for the creation of advanced and highly intuitive training programs. Intuitive and predictive development abilities make artificial intelligence the ideal ally for virtual education through learning management systems.
The integration of AI with LMS offers the possibility of developing an unparalleled relationship between the user/student and platform through highly personalized training processes that identify users’ cognitive, emotional, social, behavioral, or personality aspects to motivate them to learn through a strategy that appeals to the personality traits directly related to acquiring new skills such as competitiveness.
One of the most significant advancements that artificial intelligence brings to users and LMS platforms is in the form of content. With the help of AI, content creators will have access to data on student progress and their level of understanding on a certain course, which will aid them in making improvements.
Most vendors are shifting from on-premise to cloud-based solutions due to the latter’s advanced benefits including continual innovation with security in priority. Quicker deployment, the lack of a need for technical resources, low initial investment, and scalability are among the key benefits associated with cloud-based LMS solutions. Cloud-based LMS solutions are ideal for small companies that do not possess internal resources such as hardware and staff.
On the other hand, large enterprises with a significant number of learners and IT resources are apprehensive to store sensitive data on external servers and thus, avoid cloud-based LMS solutions. Cloud-based learning management systems are standardized to a large extent and can rarely be customized or integrated with third-party extensions; therefore, they are ideal for companies that prefer a standardized learning approach.
Cloud-based LMS solutions are registering widespread adoption in training and development. Examples of cloud-based LMS providers include SumTotal Systems, Docebo, SAP, Epignosis, ScholarLMS, and Expertus.
K-12 learning management systems are gaining prevalence as schools across countries are increasingly embracing modernized classrooms. Learning management systems can help schools better facilitate digital learning and improve the student experience, which is especially essential considering that in today’s date teachers want to teach and learners want to learn using the latest advanced technologies.
Intense learning gamification makes K-12 education incredibly engaging with game-based learning and practical tasks, gamified tests, and much more. Unlike higher education, the K-12 education sector has fewer legacy investments in online learning and represents investment opportunities. A growing trend in the K-12 education sector is the adoption of augmented reality in LMS platforms at a rapid pace to teach various subjects, such as science and math.
North America, the pioneer of learning management systems, holds the largest share of the LMS market and is expected to remain dominant during the forecast period, 2019–2024. North America’s status quo can be attributed to the region’s developed IT infrastructure, which has allowed U.S. businesses to adopt cloud-based LMS technologies earlier. The region’s CAGR is expected to hover at 19.6% during the forecast period as LMS technology already enjoys widespread adoption, leaving little room for progress.
LMS providers are observed to be collaborating with U.S. universities and organizations in recent times. The U.S. government is also taking numerous initiatives to revamp the inefficiencies of conventional learning modules. In November 2017, McGraw-Hill Education teamed up with ProctorU, an online proctoring and identity management solutions provider, to deliver digital ALEKS Placement, Preparation and Learning (ALEKS PPL) exams to students with ProctorU’s remote proctoring system.
In November 2017, Pearson partnered with Oakton Community College, Illinois intending to digitally provide course material to students at significant cost savings. Several North American educational institutions are making sizable investments to adopt the latest and most sophisticated learning technologies, which further broadens the scope of the LMS market.
The North America learning management systems (LMS) market has several prominent market participants, including Blackboard Inc., Cornerstone On-demand, Inc., Desire2learn Incorporated, and IBM Corporation; however, the market continues to consolidate around Blackboard, Canvas, D2L Brightspace, and Moodle – the ‘big four’ in this space.
Key players in the global LMS market include IBM Corporation, Cornerstone OnDemand, Inc., SAP SE, Docebo, Peoplefluent (Learning Technologies Group), SABA Software, Inc., Blackboard Inc., McGraw-Hill Education, Moodle, and D2L Corporation among others.