Learning management system (LMS) is a software-based platform used for creating, delivering, and leveraging a learning process. LMS facilitates centralized learning and uses the internet to create and deliver content and track and assess the performance of users. It acts as a principal hub of learning for distributed learners allowing convenient information sharing and training in an otherwise complicated infrastructure.
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Corporate Sector to Remain Key End User through 2022
Learning management system is widely used by corporate organizations and academic institutions. Its demand is expected to remain high across the corporate sector through 2022. Growing popularity of cloud-based LMS solutions is one of the key factors fueling the demand in the sector. Organizations use the system to provide cost-effective and high-quality online training courses to employees. For instance, in January 2018, ePath Learning Inc. partnered with GNC to conduct the latter's new state-of-the-art employee training and development programs through its LMS platform, ASAP.
Utilization of learning management system reduces overall training cost. Using the system, the company can offer online courses to its employees and monitor their progress remotely. In addition, soaring need for cost-effective solutions to manage company operations and support several systems such as enterprise resource planning (ERP) is anticipated to trigger the demand for learning management systems.
According to a report added by Radiant Insights, Inc.; the global learning management system market is estimated to rise at an impressive CAGR of 27.17% from 2018 to 2022 (forecast period). Growing popularity of cloud-based LMS owing to high efficiency and hassle-free deployment is prompting developers to expand their portfolio. The findings of the report indicate that influx of cloud-based systems is estimated to help the market gain remarkable momentum. Moreover, burgeoning trend of bring-your-own-device policy in several organizations worldwide can bode well for the market.
Americas will hold a prominent position in the LMS market throughout the forecast period. The growth of the market can be attributed to increasing adoption of modern technologies in academic institutions and constant infrastructure improvements. Some of the key companies operating in the global arena are Oracle; SAP SE; Pearson PLC; Cornerstone OnDemand, Inc.; and Blackboard, Inc.
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