The learning management system is a software solution that is used for training programs, administration, tracking, reporting, documentation and educational courses. The Global Learning Management System Market was valued at US$ 5.1 billion in 2015 and is projected to expand at a CAGR of 23% during the forecast period (2016–2025), as highlighted in a new report published by Coherent Market Insights. The increasing adoption of digital learning processes in various organizations for training and education systems provides immense opportunities for growth of the learning management system market, globally. The implementation of bring your own device trend in various organizations has helped boost the LMS market in corporate segments. Owing to high advantages of BYOD trend such as cost saving, increase in innovation & productivity, employee’s satisfaction and retention have attracted the corporate management to implement the BYOD culture in their organizations. In addition to this, increasing adoption of wearable devices for training has also advanced the LMS market in corporate segment. Due to high advantages of wearable devices such as in depth product knowledge training, instant access to tutorials, real time support resources and effective use of company resources have increased the demand for wearable devices in corporate learning management system. According to Coherent Market Insights, over 275 million wearable device have been sold up from 232 million devices in 2015 and is estimated to reach 323 million by 2017. Moreover, the increasing adoption of new technologies such as gamification and virtual reality in the learning management systems provide advance features to the LMS products. With the help of virtual technology, the gamification increased the level of enjoyment and engagement by capturing the interest of learners, motivating them for continues learning.
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Key takeaways of the learning management system market:
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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