Global Cloud-Based Learning Management System Market Research Report 2022
Summary - A new market study, titled “Cloud-Based Learning Management System Market – Global Drivers, Opportunities, Trends, and Forecasts to 2022 ” has been featured on WiseGuyReports.
The advancements in
technology, rising use of mobile devices, and internet penetration have
transformed the world of learning and development. Although traditional
classrooms and face to face interaction are still prevalent, there is a rising
number of schools, universities, and enterprises opting to train and inform the
learners via the web. The acquisition of Lynda.com by LinkedIn and $135 million
of funds raised by Pluralsight can perfectly explain the booming online
learning industry.
Product Analysis
LMS is one of the most
impactful types of business tool and is revolutionizing the way people learn as
an employee or as a student. With its availability on the cloud, the products
and solutions are now cost effective and relevant to wider sections of society,
institutions, and organizations. Modern cloud-based LMS are rich in
functionalities and have relatively better integration capabilities. At
present, with the availability of new vendors and better capabilities, the
enterprises and institutions are reviewing their traditional LMS and are likely
to switch to the cloud-based LMS.
Market Analysis
LMS has a significant number of users in
academics & education industry, followed by IT organizations. In addition,
the system has found applications in several sectors and sub-sectors such as
manufacturing, healthcare, event management, NGOs, real estate, public
agencies, software development, digital marketing agencies, and various others.
For instance, healthcare and manufacturing sectors utilize LMS to get rid of
regulatory burdens, while consulting firms use it for onboarding, training, and
certification. The cloud-based LMS has already gained popularity, with the
majority of the end-users already moved to a hosted learning platform.
Technology Analysis
A right e-learning standard is necessary to make
the learning content, available from various vendors, agile with the LMS.
Course authors develop content in a certain modality and are required to pack
the file as per the standard. Several standards have been developed so far for
the packaged learning content. Major standards are SCORM, AICC, xAPI/Tin Can,
LTI, and Cmi5. The demand is for high integrational capabilities and high
customization & personalization. The present modern LMS boasts all the
necessary features and is still evolving. The users are now required to be
aware of the entire product and its true value.
Key Players
There are several major players in the online
learning industry such as Adobe, Blackboard, Educomp, Desire2Learn, Cisco,
Smart Technologies, Three River Systems, Scholastic, and Intel. The key players
in the cloud-based LMS market are Instructure, Cornerstone OnDemand, SAP,
Blackboard, D2L, Docebo, and Litmos. Few of the players are established LMS
vendors and are moving their business towards SaaS based model of LMS.
Competitive Analysis
The LMS market constitutes several major vendors
and hundreds of SMEs. In higher education, the majority of the LMS market is
held by Blackboard, Canvas, and Moodle. While in the corporate market, four
largest vendors holding the market are SAP SuccessFactors, Voniz, Saba
Software, and SumTotal Systems. With the advent of hosted solutions, vendors
are now focusing more on the development and sales of cost-effective
cloud-based learning platforms. The market has also attracted several new
entrants, and the number of players in the market has crossed more than 500.
However, most of the share would still go to major players as existing customers
are likely to stick to their vendors. Cost and features are certainly going to
play a major role in the success in the market.
Regional Analysis
North America holds the largest share in the
cloud-based LMS market. The wide presence of major cloud vendors is driving the
cloud-based solutions in North America. The market has a slow growth rate. Asia
Pacific is next in line to the share and registers the highest growth rate. The
developing economies such as China and India are the major users. The cost benefits
are one of the major drivers for the growth of the market. In addition, the
rise in the number of mobile device users has led to the trend of mobile
learning. Europe is a mature market for LMS; cost benefits of cloud-based LMS
are likely to attract the SMEs in Europe. There are still huge opportunities
across Southern and Eastern Europe. MEA and Latin America are equally investing
in the development of IT infrastructure and e-learning.
Benefits
Cloud-based LMS is more cost effective than an
on-premise installed LMS. It does not require any capital expenditure for the
purchase of the software. Cloud-based LMS, provided by SaaS vendors, are
available for free for a period of 14–30 days. In this period, the users can
review the product and make sure it meets the requirements of their
organization or institution. Cloud-based LMS is not time-consuming and does not
have complex installation process. Maintenance of the software is taken care of
by the SaaS vendor. Cloud-based applications on LMS are accessible from any
device at any location. A good LMS ensures that the user interface responds
perfectly to the size of the screen of the device, which provides flexibility
to the learners. Cloud-based LMS possess high configurable features
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