The global learning management system market is expected to show appreciable growth over the forecast period on account of the growing adoption of e-learning system. Cloud computing has emerged as a low-cost method of delivering online training programs to diverse demographics of employees. Corporate bodies are also implementing LMS to automate certain tasks such as record keeping and employee registration. This system enables workers to use interactive features such as discussion forums, threaded discussions, online training and video conferencing. Introduction of open source code has made learning process affordable for educational as well as corporate organizations which are expected to drive the LMS market in the near future.
learning management systems market vendors have started providing mobile learning functionality to their LMS that can be accessed on smartphones. Additionally, social learning via offering tools such as Facebook is expected to be incorporated by the service providers over the forecast period. Introduction of the Tin Can API technology which is the next-generation of SCORM (Sharable Content Object Reference Model) is expected to create significant opportunities in the LMS market. This can be attributed to factors such as ability to track real-world performance, team-based e-learning, tracking learning plans and e-learning in native mobile applications. However, customization feasibility and integration support may hamper market growth over the next six years.
The learning management systems market can be segmented by product into administration, collaboration, performance, student and content management. On the basis of end-use industry, the market is bifurcated into corporate and education. The corporate user segment further includes retail, healthcare, government, consulting services and BFSI. Technological advancements observed in recent years have introduced the concept of Software as a Service (SaaS) delivery model, further accelerating LMS adoption within the developing framework. The deployment model segment includes SaaS and on-premise. Growing emphasis on continuous learning practices with changing business requirements and economic conditions are expected to drive the adoption of this technology through the forecast period.
North America is expected to dominate the market owing to increased collaborations between organizations and North American learning management systems providers within the forecast period. Major market vendors include Oracle, Netdimensions Ltd., Mcgraw-Hill Education, IBM Corporation, Cornerstone Ondemand, Inc., Blackboard Inc. and Automatic Data Processing, Inc.
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In order to ensure business continuity amidst the COVID-19 crisis, business organizations, especially in highly affected countries are allowing their employees to work from home. The increase in people working from home has led to a surge in demand for online video viewing, downloading, and communication through video conferencing, all of which are leading to increased network traffic and data usage. COVID-19 shall accelerate the demand for agile and flexible work styles and further push the adoption of communication services that tend to improve work-life balance. On the flip side, telecom regulators worldwide have postponed their plans of 5G spectrum auction amidst the global pandemic. This is expected to have an impact on the commercialization of commercial 5G standalone deployments and revenue generated through 5G services. The ongoing pandemic has forced telecom operators worldwide to test their network resiliency and revisit their planned investments, especially in 5G technology. The report will account for Covid19 as a key market contributor.